You know it's gotta' be hip, or at least wants to be seen that way, when it has one of those abbreviated and combined nicknames like SoHo. Anyhow, from Wikipedia:
SoCo and The Drag (Guadalupe Street bordering the University of Texas) are, in my opinion, Austin's only real urban-feeling pedestrian-oriented neighborhood commercial centers. Even then, it's a stretch.South Congress or SoCo is a neighborhood located on South Congress Avenue in Austin, Texas.
South Congress Avenue was first established as a transportation route in the early 1850s The area became revitalized during the 1980s and 1990s. It also become a nationally known shopping district called SoCo.
The shopping district contains numerous shops, restaurants, and music venues.There is a square featuring a number of food trucks serving tacos, falafel, cupcakes, and more. Many businesses remain open later in the night on the first Thursday of each month as the area evokes a festive mood.