Oden Hughes Thinks Broadly in East Riverside
A new luxury community broke ground in the East Riverside Corridor.
By Anca Gagiuc, Associate Editor
Local developer Oden Hughes has started construction on a new 339-unit luxury community in the East Riverside area. Dubbed Lenox Broadwalk, the property will be located at South Pleasant Valley Road and Elmont Drive near Lady Bird Lake.
“The East Riverside Corridor is one of the most dynamic areas of Austin,” said Howell Beaver, Oden Hughes’ vice president of development, in a statement. “The number of jobs, outdoor amenities, restaurants and entertainment venues within walking distance truly makes this one of the best places to live in Austin.”
Lenox Broadwalk will be a five-story building aiming for LEED Silver certification. Residents will have a choice of one-, two-, or three-bedroom apartments with rents between $1,100 and $2,500 per month. Oden Hughes will have an affordable component; 17 apartments will be available at below-market rates to households earning less than 60 percent of Austin’s median family income ($3,070 a month for a family of two). Prices for these units will start at $800 per month for one-person households.
“Lenox Boardwalk is in one of the strongest growth corridors in central Austin and will benefit from the continued renter demand for upscale living east of Downtown,” commented Matt Pohl, a director at HFF. “East Austin’s rise in popularity has increased tenfold in recent years due to its easy access to Austin’s CBD, thus eliminating the headache of Austin traffic, along with the relocation of multiple live music venues, quality sit down restaurants and trendy coffee shops and bars that can now be found throughout the East Riverside Corridor. All of these factors will allow Lenox Boardwalk to cater to the live/work/play lifestyle that is a driving focus for so many Austinites.”
Oden Hughes Taylor Construction will serve as general contractor, and Oden Hughes Management will lease and manage the community. Lenox Broadwalk is scheduled for completion in April 2017.
Image courtesy of Oden Hughes