Austin Blog

Construction is underway on a $320 million medical tower located at W. 38th St. in Austin, Texas. The facility, expected to be completed in 2025, will include neonatal intensive care units, C-section suites, a dedicated OB-GYN emergency department, teaching and learning center, and more.

Red River Apartments, a 30-unit multifamily complex located in Austin, Texas, recently sold with capital improvements made to the interior and exterior of the building.

Georgetown is getting a new shopping destination with the opening of a 160,000-sf Costco warehouse at 2201 N. I-35 in June.

The Libertad Austin project is set to bring much-needed affordable housing to Austin with 198 units across three four-story buildings. Most of the apartments will be reserved for families making at or below 30 to 60 percent of the median family income, while the remaining 50 will be reserved for those experiencing homelessness.

Alexan Springdale, a 251-unit apartment community located on Springdale Road in Austin, has been sold. The property boasts studio, one-, and two-bedroom units that each have an average of 824 square feet. In addition, the complex features a range of amenities such as a pool, fitness center, game room, clubhouse, and outdoor grilling and dining areas. At the time of sale, the property was 94 percent occupied. Newmark represented the seller, Trammell Crow Residential, in the transaction, and Sterling Equities acquired the asset.

Smart Austin Realty Group is excited to share news of the upcoming redevelopment project at the 22.5-acre site located at the intersection of East Riverside Dr. and SH 71. This ambitious project, called East Riverside Gateway, will be a seven-building mixed-use development with residential, office, retail, and restaurant uses. The site, which currently houses a storage facility and a former mobile home park, will feature four of the buildings devoted to multifamily usage and around 4,000 onsite parking spaces. Construction is scheduled to begin within the next twelve months, with Steinberg Hart serving as the project's designer. We look forward to watching this transformational project unfold.

Factory Building Stores recently signed a large industrial lease for 167,794 square feet of space at Lockhart 130 Industrial Park. The building, which is a rear-load structure, will boast 32-foot clear heights and 37 dock doors. The Lockhart 130 Industrial Park is situated on 45.1 acres and will eventually feature four buildings. AQUILA Commercial represented the landlord, Titan Development, in the lease negotiations, while HPI Real Estate Services & Investments acted on behalf of the tenant.

Aspen Heights Partners is set to revitalize the former HealthSouth rehabilitation hospital in Austin, Texas. The plans are ambitious, and involve the construction of two 37-story towers at 1215 Red River St. and 606 E. 12th St. These two towers combined will contain 921 apartments, with 25 percent of them reserved for affordable housing for at least 99 years. This redevelopment of the former HealthSouth site will benefit the local community, providing much needed housing in the area.