StreetLights Residential plans to a 373-unit apartment complex on 8.5 acres it just acquired within the Austin Presidio development in northwest Austin, Texas. StreetLights plans to spend more than $50 million on the development.
Steve Williamson with Transwestern negotiated the transaction between the Dallas-based buyer and the seller, Austin 129 LLC. Williamson said that this second apartment development will complement StreetLights’ first one, The Michael, a 415-unit property that is “now approaching full occupancy.”
Austin Presidio is a 129-acre, master-planned development with luxury apartments, hotels, restaurants, corporate offices and medical facilities at the northeast corner of SH 45 and North Lake Creek Parkway. The development is fully entitled by the City of Austin for approximately eight million square feet of commercial development, and several thousand multifamily units.
For complete information on StreetLights Residential including all corporate and division offices and top personnel, refer to The Directory of Multifamily Builders & Developers and Online Database.