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Lamar Plaza under new ownership

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TWC News: Lamar Plaza under new ownership
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A popular South Austin shopping center now has new owners.

The Austin American Statesman says developer Greystar has finalized the purchase of Lamar Plaza. Greystar plans to convert the shopping center into a mixed-use project with more than 400 apartments and shops.

Some businesses in Lamar Plaza will be leaving, while others are staying.

The Alamo Drafthouse movie theater and Highball bar will be sticking around after remodeling is done. Lamar Plaza Drug Store, which has called Lamar Plaza home since the 50s, has plans to relocate.

Other businesses have been holding out-of-business sales.

The sales price for the nine-acre site was not disclosed.

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