Austin's retail market is going full throttle, with three major openings this month.

Central Texas will be getting about 2 million square feet of new retail space with the debuts of the Hill Country Galleria in Bee Cave, 1890 Ranch in Cedar Park and University Oaks in Round Rock.

The openings are part of the largest retail surge ever in Central Texas, with more than 10 million square feet of new space in the past three years alone. Among the biggest projects have been Southpark Meadows, where construction began in 2005, and the Domain, which opened this year.

The retail boom has been fueled by the region's thriving job market, low unemployment and growing population.

A total of 1.9 million square feet of retail space opened in 2006, and by June of this year, 2.2 million more opened. As much as 1 million more square feet of space is to open by year's end, and 2.6 million might open in 2008, according to estimates by Charles Heimsath, president of Capitol Market Research, an Austin real estate analysis firm.

In his midyear report, Heimsath said that more than 92 percent of the Austin's area retail space was occupied, and that's considered healthy.

"Retailers are looking at Austin as one of the opportunities they have to grow," said Jeff Newberg, a managing principal with Endeavor Real Estate Group. "Retailers have performed well here. Economic indicators are positive, and we're optimistic it will continue."

The Hill Country Galleria in Bee Cave will have its grand opening Oct. 24, the second regional mall to open this year. The 1.3 million-square-foot lifestyle center, developed by Opus West Corp., includes 650,000 square feet of retail. Anchor Dillard's has opened, and such stores as American Eagle Outfitters, Ann Taylor, Hollister Co. and Victoria's Secret are set to open this month. The project also includes 145,000 square feet of office space, a 30,000-square-foot City Hall and 400,000 square feet of multifamily housing. The Hill Country Galleria, on the north side of Texas 71 between RM 620 and RM 2244 (Bee Cave Road) is expected to be the new town center for Bee Cave.

In Cedar Park, Endeavor's 1890 Ranch will have its grand opening Sunday. The first phase, which is anchored by a SuperTarget and will include a PetSmart, OfficeMax, Circuit City and a 12-screen Cinemark, will have 530,000 square feet of space. When completed, the project will have up to 900,000 square feet on 90 acres and will include an Academy and Gold's Gym. The project will rival Lakeline Mall in size.

Endeavor's University Oaks in Round Rock recently opened the first phase of its 625,000-square-foot development at University Boulevard and Interstate 35, including Williamson County's first stand-alone J.C. Penney. The opening comes just a year after that of the Round Rock Premium Outlets and the 252,000-square-foot furniture retailer IKEA.

More construction begins this month on space for Ross Dress for Less, OfficeMax, Spec's and other retailers.

At the sprawling Southpark Meadows in South Austin, 215,000 more square feet of retail space is expected to open this month, including a SuperTarget, which is already open. Endeavor, the developer, also recently broke ground on a Marshalls, a Bealls and a Sports Authority in the same complex.

Even though Central Texas is going through a retail boom, some people think there's plenty of room for more.

"Austin is one of the hottest markets in the country," said Jill Rowe, president of Rowe Investments, an Austin-based retail investment and brokerage firm. "We'll continue to grow on a pace similar to what we have been. I think the numbers can rival what we've seen in the last three years. And we're just catching up."

Several new projects are under way. Direct Development broke ground last week on a $90 million, 900,000-square-foot project in San Marcos.

The StoneCreek Crossing, on 119 acres on the northwest corner of McCarty Lane and I-35, will be anchored by Target and J.C. Penney and include a Bealls. The J.C. Penney and Bealls will open in October 2008, with the Target to open in March 2009.

In Hutto, developers are planning to transform 466 acres along the Texas 130 toll road into a hub of retail and residential development that will rival Southpark Meadows in size. The Crossings of Carmel Creek will have nearly 1.5 million square feet of retail.

Endeavor plans to use proceeds from Southpark to invest in new projects.

Among the plans are a mixed-use project on 580 acres at Parmer Lane, U.S. 290 and Texas 130. That project would include retail and possibly housing.

The retail boom

Austin shoppers will get more than 2 million square feet of new retail space this month, on the heels of a boom year, including the opening of the Domain. And in the coming months, developers are planning to add even more space to the area's retail market. The latest openings are the Hill Country Galleria, 1890 Ranch and University Oaks. Figures are based on the projects' completion.

Project Retail square footage

Southpark Meadows 1.6 million (under way)

The Domain About 1 million (open)

Domain expansion 1.2 million (under way)

Shops at Arbor Walk 450,000 (open)

Shops at the Galleria 500,000 (under way)

Provident Development (Buda) 1 million (under way)

Red Oak Village (San Marcos) 300,000 (under way)

The Shops at Arbor Trails 400,000 (under way)

Sunset Valley Homestead 175,000 (under way)

Upcoming

The StoneCreek Crossing (San Marcos) 900,000

Crossings of Carmel Creek (Hutto) 1.5 million

Source: Staff research

mtaboada@statesman.com; 912-2942