According to the following article in the latest Sustainable Neighborhoods email newsletter, a new development is planned to replace the Burnet Road Farmer's Market property:
The Farmer’s Market property at 6701 Burnet may be redeveloped in the coming year. A developer is proposing to use this property as well as the property south of it (where Elsi’s used to be) to build a Vertical Mixed Use development with 250 housing units and 12,000 sq ft of retail facing onto Burnet Rd.
The developer has all of the required zoning needed for the project. Historic preservation staff evaluated the site but will recommend that a redevelopment be allowed to proceed.
The developer has expressed interest in reusing some of the materials from the site. They are also looking at preserving the large pecan tree in the northwest corner that anchors the Pour House Pub courtyard. (Sustainable Neighborhoods Newsletter, July 4, 2012)