South Austin medical park to expand

Austin Business Journal - 3:13 PM CST Wednesday

Templar Development Services Inc. is set to break ground in December on the 75,000-square-foot second phase of its Stonegate medical office condo project in South Austin.

The Austin development company is wrapping up construction on the 49,000-square-foot first phase of the $11 million project. Phase one of the development on William Cannon Drive near West Gate Boulevard is already sold out to tenants, including an ambulatory surgery center, imaging clinic and a rehabilitation clinic.

Doug DeVine, president of Premas Commercial Realty Group, which is handling the marketing of Stonegate, says the second phase will add more medical offerings to the development, in particular orthopedic surgeons.

DeVine says the first of the shell units are likely to be ready by June 2007. Units in the project range in size from 831 square feet to 9,173 square feet and are priced between $140 and $160 per square foot.

With its close proximity to the Austin Surgery Hospital, Seton Southwest and other medical facilities, the project is attracting a great deal of interest among the medical community, DeVine says.

"There really has been a pent-up demand for medical services in this area," he says.

Meanwhile, Premas and Templar are in the process of designing, developing or constructing similar developments in Round Rock near Scott & White and Seton Healthcare Network's facilities.