SomeraRoad Inc. confirmed it’s redeveloping St. Elmo’s Public Market right into a bar and arcade | Jordan Belt/KXAN News

AUSTIN (KXAN) — A business actual property funding firm has acquired the St. Elmo’s Public Market in south Austin and intends to relaunch the venue with a bar, arcade leisure and bowling idea, in accordance with a information launch from SomeraRoad Inc.

Pins Mechanical Company and 16-Bit Bar+Arcade will “lease 100% of the former Public Market building” within the “heart of the St. Elmo neighborhood,” the discharge mentioned.

The 42,000 square-foot former bus terminal, at 4329 South Congress Avenue, was initially set to be developed right into a meals corridor. However, COVID-19 “halted these plans.” Additionally, the funding firm mentioned the “acquisition also included a 1.7-acre parcel of land,” which is able to “be repositioned for mixed-use purposes in the future,” the discharge mentioned.

“We’ve turned over a lot of stones looking for the right project in the right neighborhood. The St Elmo Public Market has incredible potential, and we’re excited to drive a new chapter for this project with Pins Mechanical. They are the ideal tenant to immediately bring a strong sense of community, entertainment and fun to the neighborhood. The reimagined St Elmo Public Market will establish an energy that serves as a continuation of the South Congress live, work, play ecosystem,” Brock Kenyon, SomeraRoad vice chairman and Austin workplace chief, mentioned within the launch.

Pins Mechanical describes itself as a social gathering vacation spot, with duckpin bowling, pinball and bocce ball, the discharge mentioned. According to builders, the St. Elmo’s location may have 24 duckpin bowling lanes, greater than 30 pinball machines and greater than 40 traditional arcade video games.

Construction will start this yr, with plans to open in 2024, the discharge mentioned.