StreetLights Residential and Hunt Companies Inc. have formed a partnership that will build a 19-story glass and brick tower at 214 Barton Springs Rd. just south of the Hyatt Regency Austin. The project is valued at $68 million.
Designed by Austin-based Rhode Partners, the luxury multifamily project will feature 300 apartment homes with high-design elements modeled after a boutique hotel. The apartments will average 900 square feet in size, according to an official statement by Hunt Companies Inc.
“This property will represent well-crafted urban architecture, interiors, landscape, art and technology,” said Doug Chesnut, CEO of StreetLights Residential. Due to the beautiful location of the property, residents will be able to enjoy panoramic views of Lady Bird Lake, the downtown skyline, the State Capitol and West Hills.
The new tower will feature high-end amenities such as a boutique hotel-style lobby with intimate conversation areas and a coffee bar, a resort-style pool deck with skyline views, a spacious fitness center, and a rooftop lounge.
The project owner is SLR Residential at Barton Springs, whose members are Hunt Development Group LLC and Hunt Barton Springs—both affiliates of Hunt Companies Inc., as well as SLR Residential at Barton Springs LLC—an affiliate of StreetLights Residential.
According to the Austin Business Journal, construction should begin in the spring, with a completion date set for August 2014.
Due to the high demand for new rental units in Austin, several other multifamily projects are currently under construction in the downtown area, as reported by the Business Journal:
- SkyHouse Austin at 512 Rainey St.
- Gables Park Plaza II at 111 Sandra Muraida Way
- Whitley apartments at 301 Brazos St.
Image rendering of the high-rise tower, courtesy of www.streetlightsres.com
For more news from Austin, click here.