Stillwater Capital to Add 2 New Communities in Austin
- Mar 06, 2019
Stillwater Capital’s activity in Austin, Texas, has intensified. The company has broken ground on a new community in the suburb of Leander and has closed on a second land site in the Riverside neighborhood, where it plans to break ground on another multifamily project over the next 30 days.
The Leander development will materialize into a three-level, surface-parked community with 259 units at 665 N. Bagdad Road. The property’s location, less than 30 miles from downtown Austin, benefits from proximity to the Capital Metro rail line, golf courses, as well as Lake Travis and the Hill Country. Apartments will feature stainless-steel appliances, custom cabinetry and modern finishes.
The Riverside project will be located at 2511 Montopolis Drive and will occupy 6 acres within Austin’s designated Opportunity Zone, providing residents with access to Austin’s central business district, downtown area, Interstate 35, Highway 71 and Highway 183. The project will encompass a four-level, surface-parked community with 222 apartments. Unit amenities will include quartz countertops, wood-like floors and contemporary finishes.
Common-area amenities at both communities will include swimming pools, courtyards with pergolas and grilling stations, fitness centers, green spaces and Amazon Hub Package Systems. The Leander project is set to open in late 2019, while the Riverside development is anticipated to open in fall 2020.
“With Central Texas experiencing tremendous job growth, Stillwater continues to identify compelling opportunities within certain submarkets to develop new multifamily products to accommodate the growing renter population,” Stillwater Capital’s Central Texas Partner Brandon Easterling, said in a prepared statement.