Build it, and they will come.

That's the philosophy most developers are taking when it comes to building in Leander, and most are banking on the future development boom predicted for the city.

The latest example: about 340,000 square feet of office and retail space is planned just west of the Crystal Falls neighborhood development off U.S. Highway 183.

The majority of the projects will be located south of a proposed H. E. Butt Grocery Co. store and a transit-oriented development. The HEB is expected to measure about 145,000 square feet, with 50,000 square feet of shops along the development and 32,000 to 40,000 square feet of pad sites.

Responding to a flurry of interest from different types of tenants, several developers have projects under way.

They include:

• A 16,000-square-foot building on 183 just south of Crystal Falls Parkway being developed by Reunion Development Group.
• A "green," commercial mixed-use building measuring just over 24,000 square feet being developed by Greenblum Investment Co. That project is located on Crystal Falls Parkway, between 183 and Bagdad Road.
• A 24,000-square-foot project being developed by Austin's Turnkey Development.
• A 14,250-square-foot project at the northeast corner of Bagdad Road and Crystal Falls Parkway being worked on by Austin-based Talisman Group Inc. that will include retail and office space.
• A 15,000-square-foot project being developed by English Brothers Inc.

Joseph Green of RDG says many developers are building on spec -- without tenants already lined up -- because of the proposed population growth in Leander.

"Once the migration starts, many people will start moving up there pretty quickly," Green says.

Green, who lives in Leander, has seen the city slowly blossom. He says RDG's project will address the needs of the community, targeting a coffee shop or sandwich shop as well as providing office space. RDG's and the majority of the other projects are on the southern end of Leander, so the area shares the demographics of both Cedar Park and Leander, Green says.

Moreover, the Crystal Falls neighborhood, which has homes ranging from $200,000 to $1 million, provides an attractive, higher-end demographic for most retailers, Green says.

Talisman Group's Brenda Staples says their project, much like RDG's project, is being focused around community needs. Talisman Group's project is the second phase of a planned four-phase project called the Commons at Crystal Falls. The first phase consists of a Walgreens. The second phase broke ground last month and the developer is in negotiations with several tenants. Staples says the company is aiming to line up tenants before construction begins. Talisman plans to wait to see what market demand looks like before building the subsequent phases.

Staples says owner Jim Ross is known for developing "community-minded" projects. Ross' previous projects include a Walgreens shopping center in the Hyde Park neighborhood that won the Austin Business Journal's Community Impact Award.

"We want this project to be a place where families can come and hang out," Staples says.

Even though none of the projects have any confirmed tenants -- retail or otherwise -- Kirk Clennan, director of economic development for the city of Leander, says demand is definitely there. Clennan fields several calls daily from companies looking to locate in Leander, he says. Not only is Leander seeing interest from companies outside the city limits, but Leander-based companies themselves are needing additional space, reflecting an overall healthy economy, Clennan says.

"I think these projects are a confidence builder and give Leander a solid spot on the map," Clennan says.

Andrew Childers, a research analyst at Colliers Oxford Commercial, says the Far Northwest Austin market is one of the strongest markets.

"I think the main reason you see that type of development out there is because of the demand," Childers says. "It's one of the strongest in terms of vacancy rates and rental rates."

Currently, Colliers estimates rental rates for Class A buildings around $22 a square foot. In Austin's central business district, the average Class A office space rented out for about $26.55 a square foot in the first quarter of 2006, and topped out at $25.28 for 2005, according to Colliers.

In Leander's case, many developers are mixing up their projects with a retail component, a smart move in Childers' opinion.

"You'll see a lot of smaller developers lean toward a mixed-use component. I think it's a pretty smart move because it allows many different types of users," Childers says.