Last year, Austin-based developer Seco Ventures purchased a large assemblage of property on Panther Island known as "Upstream" under the name "PANTHER ISLAND PARTNERS LP".
In the first bit of permit activity I've seen, Seco, along with Kimley-Horn Engineers, have filed a traffic study (login may be needed to access) for the parcel bound by Main, Commerce, NE 4th and NE 5th. The site is just 1 acre and the filing indicates plans for 9345 square feet of commercial space and 306 units. Encore Panther Island, located across the intersection diagonally to the south, has 300 units on a property almost 3.5 acres in size.
The northern half of this block is an office building. At one time, Southwestern Petroleum Lubricants was based here, but they appear to have relocated to Qourum Drive. TAD indicates that the building was sold in 2021, and I think a different tenant is in the building now. I have not been by in a while.