Update 1/14/19 – Capella Capital Partners has opened its multi-story self-storage facility in Buda at 1190 W. Goforth Road. It features climate-controlled and traditional units. The property will be managed by self-storage real estate investment trust (REIT) Public Storage Inc. and branded under its name.
3/31/17 – The Buda City Council has approved a special-use permit to allow a self-storage facility proposed by real estate developer Capella Capital Partners be built along GoForth Road. The facility will comprise 589 units, but the site plan must still be approved, according to the source.
Though the planning and zoning commission denied the developer’s original application in January, the council voted 5-1 in favor of the project after Capella addressed concerns outlined by the commission. Improvements include adding “rain gardens” along the periphery of the building and more trees on the property, the source reported.
Capella determined the best use of the vacant property was self-storage after conducting a market-research study. Managing partner Todd Dailey told the council the only other retail suitable for the site would be class-C uses, such as automotive shops, gas stations or a nail salon, according to the source. The nearest self-storage facility is 500 feet.
Earlier reports placed the self-storage project on East Main Street near Firecracker Drive.
Based in Austin, Texas, Capella Capital Partners has development and investment interests in mixed-use and multi-family projects in addition to self-storage. It is an affiliate of real estate services firm Capella Commercial, according to the company website.
12/16/16 – Officials in Buda, Texas, are debating whether to allow a special-use permit to develop a self-storage facility on East Main Street. The city council tabled the matter earlier this month to allow members to gather additional information. The unidentified applicant intends to build a three-story facility near Firecracker Drive, according to the source.
The council delayed its decision despite a recommendation to approve the permit from the planning and zoning commission. Recommended conditions forwarded by the commission were to make the permit non-transferable, restrict the development to only the three-story facility outlined in the plans, and require the removal of any barbed-wire fencing on the property, the source reported.
One of the issues is the proximity of the building site to other zoning districts. The corner of Main Street and Firecracker Drive is part of the Main Street East Commercial Subdivision, which has “aesthetic impacts that discourage development,” Chance Sparks, interim assistant city manager and director of planning, told the council. The site is also near the Interstate 35 “gateway corridor,” which requires developments to comply with standards for arterial roadways. Sparks indicated the developer’s plan meets the corridor’s requirements, the source reported.
Some council members also didn’t like that the special-use permit would apply to 3 acres of a 7-acre parcel, which would require the remaining acreage to be divided into different retail spaces in the future, according to the source.
Jim Lewis, who manages Noah’s Ark Self Storage in Buda, told the council there wasn’t enough demand to warrant another storage facility. “We’re against it at this time,” Lewis said, “We’re not against it coming in if there is a need for it, but there isn’t enough population right now to support it.”
Project architect Michael Mouldin disagreed, citing a demand study commissioned by the property owner. “We have performed a feasibility study that shows there is a need for our facility in that area,” Mouldin told the council. “The owner wouldn’t be spending $5 or $6 million for a self-storage facility if there wasn’t a need for one there.”
The building site is currently used to store vehicles. The operation produces an annual profit of $3,000, while the self-storage facility is projected to generate $13,000 annually, the source reported.
“We have a very precious commodity of limited space here to consider,” councilmember George Haehn said.
- Hays Free Press: Buda Pauses on Special Permit for Storage Facility
- Hays Free Press: In Short Supply? Buda Climate Controlled Storage Facility Gets Okay on Second Application