In recent years, bowling alleys have faced challenges. The impact of Covid has led to closures for many centers, along with rising land prices that make them attractive for alternative development.
One example is Austin’s Highland Lanes, which will be shutting down at the end of this year. According to the Austin Business Journal, a 300-unit multifamily project is planned for the site once occupied by the bowling alley. The owners currently lease the land and their agreement expires in December.
The proposed development aims to be a vertical mixed-use complex featuring 36 affordable housing units (12% of total) and 4,000 square feet designated for commercial usage. In factoring its value in 2023, county appraisers assessed the nearly three-acre plot at approximately $7.3 million.
The proprietors behind Highland Lanes also operated another popular bowling center called Dart Bowl; however it was forced to permanently close during pandemic-related shutdowns and never reopened afterwards.
This news comes as no surprise given current market conditions affecting traditional entertainment venues like bowling alleys across Texas’ major cities such as Los Angeles or Houston – where Connect CRE regularly covers real estate developments.
