Downtown Waco + Elm Corridor

Downtown Waco and Elm Street represent a rare convergence of public infrastructure investment, tourism, and private development activity.

 

The City of Waco has plans for an ambitious Downtown Redevelopment Project, a long-range initiative designed to transform the area along the Brazos River into a vibrant mixed-use urban district. The project is expected to unfold over 12–20 years and will introduce new civic spaces, retail corridors, residential development, and major public amenities, designed to leverage the city center and drive business.

 

The full redevelopment plan represents approximately $1.4 billion in investment and includes significant catalytic projects such as a 386,000-square-foot convention center, performing arts venue, hotel development, a retail district, and a new ballpark anchored by mixed-use development. These investments are expected to further strengthen a downtown that has already experienced notable revitalization since the mid-2000's. Since the creation of the Downtown Public Improvement District, more than 80 businesses have opened and the downtown workforce has more than doubled, reflecting growing demand for urban office, retail, and hospitality space.

 

For commercial investors, the area represents a strategic opportunity to participate in a city center that is transitioning from a traditional downtown to a walkable, mixed-use destination anchored by culture, tourism, and employment growth. 

 

Downtown Waco draws millions of visitors each year thanks to attractions including Magnolia Market at the Silos, the Dr Pepper Museum, the Waco Suspension Bridge, and the Brazos Riverwalk.

 

This steady flow of visitors has created strong demand for:

 

The result is a thriving downtown ecosystem that supports both local entrepreneurs and regional tourism growth.

 

One of the most significant trends shaping downtown Waco is the growth of urban residential development.

 

New apartment communities, renovated historic lofts, and mixed-use developments are bringing residents into the downtown district, supporting local businesses and creating a vibrant street-level environment.

 

City planning initiatives continue to prioritize:

 

• Walkability
• Public gathering spaces
• Riverfront recreation
• Mixed-use development
• Historic building preservation

These initiatives are helping Downtown Waco evolve into a live-work-play destination that attracts both residents and visitors, while prioritizing quality of life, and a healthy work-life balance, attractive to both companies, and employees.

 

Just across the Brazos River from downtown, the Elm Avenue Corridor serves as a gateway to East Waco and has become a focal point for equitable redevelopment and small business growth. Elm Avenue is experiencing renewed interest from developers, small businesses, and cultural entrepreneurs.

 

Historically one of Waco’s commercial districts, Elm Avenue is experiencing renewed investment through public infrastructure improvements, historic building renovations, and community-driven economic development initiatives.

 

The corridor’s revitalization emphasizes:

 

• Local entrepreneurship
• Small business retail
• Community gathering spaces
• Cultural preservation
• Workforce housing development

Public incentives and targeted revitalization programs have supported projects along the corridor, including mixed-use developments, façade improvements, and new hospitality and entertainment venues designed to bring activity back to the historic street. Community involvement and support are crucial, and the space has been embraced as a meeting point, thanks to being the host to the Waco Downtown Farmers Market every Saturday, and seasonally to the Bridge Street Plaza Market on Wednesday evenings, often hosting concerts and outdoor entertainment.

 

Newly developed hotels are also promoting tourism while combining spaces that welcome locals to drop by and enjoy, via ways to experience the hotel industry as a local by hosting events, providing spaces to gather, while also promoting their own restaurants and bars. The walkway via the Waco Suspension Bridge connects Elm Avenue & Downtown Waco.

 

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