T.J. Maxx has signed on as a junior anchor tenant at Headwaters, a planned shopping center taking shape in Dripping Springs, with a new lease for 25,001 square feet of retail space. The deal plants the flagship off-price chain of TJX Cos. in one of the fastest-growing corners of the Austin metro, right along the Highway 290 corridor northwest of the city.
The lease was reported by CoStar, which described the agreement as adding a junior anchor to the broader commercial project in Dripping Springs. Headwaters itself sits at the northwest quadrant of US-290 and Canyonwood, according to Endeavor Real Estate Group, which markets the retail space and notes the site is positioned to support a commercial development of more than 30 acres.
Headwaters is designed as a master-planned community expected to reach roughly 1,100 homes at full buildout, with prices described as ranging from $500,000 to $1.5 million, per the same listing. The development sits about 16.3 miles from downtown Austin at what Endeavor calls the gateway to the Hill Country, and it draws from a trade area the firm says is home to more than 100,000 residents.
A Walkable Commercial Hub Takes Shape Along 290
The T.J. Maxx lease lands within a larger commercial phase known as the Station at Headwaters, a mixed-use stretch positioned along Highway 290 within the Headwaters development, according to Nest Haven Properties. That outlet frames the project as part of a broader shift in suburban planning, noting that developers are increasingly prioritizing integrated, walkable environments over isolated strip centers.
Oryx Development, which is involved in the project, describes the Station as set on a 90-acre parcel fronting Highway 290, designed to attract a mix of retail, restaurant, entertainment, office and hospitality tenants. Landing a recognizable off-price retailer like T.J. Maxx gives that commercial vision an early, tangible foothold.
Why Retailers Are Betting on Dripping Springs
The timing tracks with a population boom that local officials say shows no signs of slowing. Dripping Springs Mayor Bill Foulds told KVUE the area has “just exploded exponentially for the last 20 years,” with growth accelerating further in recent years. Foulds said more than 40,000 people now live in the city's extraterritorial jurisdiction, compared with roughly 5,600 inside the city limits proper.
That growth is showing up in the classroom and on the housing market alike. The Dripping Springs Independent School District saw its elementary enrollment jump 16% in a single year, KVUE reported, while the Austin Board of Realtors pegged the city's median home price at $954,000 in May, a 27% jump from the previous year. Local business owner Terry Garnett told the station the pace of change has been striking, saying growth has intensified “so much in the last five years to seven years, it's just been a boom.”
For a retailer scouting its next Austin-area location, that kind of rooftop growth, paired with a walkable commercial anchor already taking shape along Highway 290, makes Headwaters a logical bet. Whether more national chains follow T.J. Maxx into the Station at Headwaters remains to be seen as the broader 90-acre commercial parcel continues to fill out.
