Community Events Celebrate Revitalization in East Austin

Austin, TX: As part of a full week of events celebrating the revival of East 11th Street, the Austin Revitalization Authority (ARA) and the City of Austin are planning a ribbon-cutting ceremonies for two new retail/commercial buildings on East 11th Street; the Jimmy Snell Building and the Street-Jones Building. Community leaders and elected officials will start the celebration at 5:30 PM on September 17, 2004 at the Charles Urdy Plaza, located at East 11th Street and Waller.

The ARA, which represents the businesses, residents, churches and community organizations of Central East Austin, invites the entire Austin community to celebrate the opening of the Buildings. One of the buildings was named in honor of the former City Council Member/County Commissioner and successful East 11th Street businessman, Jimmy Snell; and the other building was named for Oliver Street Sr. and Walter "Deacon" Jones, two prominent East Austin businessmen and civic leaders.

The celebration of the opening of these buildings are the most visible evidence of ARA's accomplishments in revitalizing the core of Central East Austin's business district. The mixed-use buildings total 57,000 square feet which include ground floor retail and office space and represent the first phase of a planned 96,000 square foot complex.

JP Morgan Chase Bank provided over $11.7M in loans to ARA since 2002 for the construction of the building. "There is a palpable sense in the air that this is a good area in which to invest in a home or a business and it is the mission of the Community Development Bankers at JPMorgan Chase to strengthen communities in which we do business," said Joe Holt, Austin area Chairman of JPMorgan Chase Bank.

"Clearly, the opening and occupancy of the new buildings marks one of the most significant commercial developments in the East End's history." Rick Burciaga, Austin President of Wells Fargo Bank, a tenant in the new Street/Jones Building adds, "ARA has done an excellent job and we are proud to be a part of this community's renaissance and a sponsor of this weekend's events."

Dr. Charles Urdy, the Austin Revitalization Authority's ARA's Board Chair said that the organization is committed to working with partners, while at the same time, mitigating the more negative effects of gentrification. "Chase, Wells Fargo and the other sponsoring organizations are working with us to showcase ARA's recent accomplishments and pay tribute to the area's cultural history. They understand the vital need to keep the neighborhood a diverse, culturally vibrant and economically prosperous urban community."

The City of Austin, which has provided more than $7.9 Million to the Austin Revitalization Authority since 1996, made the investment decision to place the Neighborhood Housing and Community Development Department in the position of anchor tenant of the Street-Jones building; which allows the Department to consolidate its offices and better serve the community.

"The revitalization activities on East Eleventh Street represent a commitment from the City to respect the desires of the neighborhood of maintaining the integrity of the neighborhood while developing new economic and homeownership opportunities," said Paul Hilgers, Director of Neighborhood Housing and Community Development Department. "We are excited to be a part of this historic event."

The ribbon-cutting ceremony-- followed by a street festival featuring live music, the Second Annual Taste of East Austin, children's activities, a walking tour highlighting the area's historic landmarks and much more will continue through Saturday afternoon and illuminates the East End as one of Austin's most attractive and diverse urban neighborhoods.

The events are FREE and open to the public and food is available or purchase

The City of Austin is committed to compliance with the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act of 1973, as amended. Reasonable modifications and equal access to communications will be provided upon request. Please call 974-3100 (voice) or 974-3102 (TDD) for assistance. This project is made possible by funding from HUD through the City of Austin.

CONTACT: Julie Beggs, (512) 974-3121 (voice)