From a South Austin skyline, to a lakeside residential subdivision, to multi-family high rises and a West Campus scraper – development in Austin in not slowing down or scaling back. Despite chatter of a slowdown, major developers are continuing to choose the Texas capitol for their projects as Austin has proven itself to be a sustained hub for attractive investment opportunities. And it really is no surprise given Austin's business-friendly policies, progressive urban planning, strong economic health, and picturesque natural assets.
Let’s take a look at just a *few* of the notable projects currently slated.
Brodie Oaks Redevelopment
Developer Barshop & Oles plans to redevelop the Brodie Oaks Shopping Center in Southwest Austin into a mixed-use hub with offices, shops and multifamily residences. The plans include 1.26 million square feet of office space and 140,000 square feet of activated ground-floor space for restaurants and shops, and for 1,700 residential units and a 200-room hotel. Read about the latest updates here.
Turnback Ranch in Lago Vista
Plans for one of the biggest undeveloped lakeside parcels in the region of Lago Vista are well underway at Turnback Ranch. After working with the city, neighbors and others, developers scaled down the plan to include a maximum of 349 homes and a 34-acre public park that would be the city's first. Learn more about the recent city approval here.
Pearlstone Partners Multi-Family Projects
Pearlstone Partners LLC is confidently investing in Austin's enduring appeal with three new projects potentially costing around $700 million in construction. The company is on the lookout for investment partners for these ventures: the tri-building Pressler offering 247 residential spaces; 62 East, a high-rise with 215 upscale condos; and 14th & Lavaca, a condominium tower with 250 units. Together, this translates to an addition of over 700 residences within a 5-mile radius.
Icon: A 30-story Tower in West Campus
The Icon, spanning 192,000 square feet at 2200 San Antonio St., maximizes its 302-foot stature by housing all parking in a four-tiered subterranean garage. This design choice allows the tower to accommodate 555 beds within 216 apartments, offering a variety from one to five bedrooms each.
- Frankie & Danielle Hajj, Real Estate Advisors in Austin, TX
Team@SistersSellAustin.com
Grossman & Jones Group, #1 Team, Compass ATX 2021