AUSTIN--A 126,000-square-foot, mixed-used project called Gateway to Falconhead is under way in Bee Cave.

The 14-acre site, developed by Pathfinder PFP Retail LLC with St. Croix Capital Advisors handling marketing, sales and leasing, has broken ground on the first phase of the project, which consists of 46,000 square feet of boutique retail space. Construction on that phase is anticipated to last 10 months. Immediately following, a second phase will begin consisting of an 80,000 office condo concept available to buy or lease, something that distinguishes it from other office space in the area.

Jay Macliver with Construction Strategies Management Group, a sister company to the brokerage house, is overseeing construction of the development.

“This is a prime, suburban-Austin area, and Gateway to Falconhead will complement nearby activity,” John Elges, the broker leading the marketing and leasing efforts, told GlobeSt.com. “The office condo component provides business owners an opportunity to be located near their neighborhood, while the retail component offers immediate proximity to an outstanding demographic base.”

Two retailers have already signed on: Pioneer Bank will have a 3,000-square-foot branch, pending regulatory approval. Also Serasana, a day spa that fuses ancient wellness practices with stress and pain management, will occupy 3,500 square feet.

The lender for Gateway to Falconhead is Southstar Bank; the construction firm is IE2, the land planner was Land Strategies, the architect is Gary Shaw; and the engineer is Garrett Ihnen.