Presidium Goes Vertical Near Tesla Giga in Austin

Completion of the 307-unit community is expected by mid-2025.

  • The property at 3208 E. Highway 71, Austin, Texas.
  • The property at 3208 E. Highway 71, Austin, Texas.
  • The property at 3208 E. Highway 71, Austin, Texas.
  • The property at 3208 E. Highway 71, Austin, Texas.

Presidium Group has broken ground on a yet-unnamed 307-unit urban-style community within Velocity, a 314-acre mixed-use development in Austin, Texas.

Provident General Contractors serves as the project’s general contractor, while O’Brien Architects provides architectural services. The team also includes Kimley-Horn and Associates Inc., Salas O’Brien, United Structural Consultants, Hitchcock Design Group and Dwell Design Studio. Completion is expected by mid-2025.

Plans call for studio and one- to three-bedroom units ranging between 375 and 1,400 square feet. Apartments will feature smart technology such as key-less door locks and Amazon Alexa Dot, nine-foot ceilings, mud rooms, as well as wine coolers. Community features are slated to include a swimming pool, a gym, coworking lounges, a yoga studio, a gaming room and EV charging stations.

Located at 3208 E. Highway 71, the development is neighbored by the Austin-Bergstrom International Airport to the west. Tesla Giga Texas is roughly 6 miles northeast, while Onion Creek Wildlife Sanctuary is 5 miles eastward. The project is set to neighbor the $200 million Advanced Manufacturing & Skilled Trades campus developed by the Austin Community College to the south. Employers such as Tesla, Facebook, Oracle and Accenture are within a 10-mile radius. Some 6 miles southeast, in Oak Ranch’s city center, dining and retail options can be found.

The developer’s footprint is north of 5,000 units in the Southwest market, with more than 1,600 units currently under construction, according to Yardi Matrix data. Just last year, the firm brought online Presidium at Berkshire’s first phase, a 340-unit community in Fort Worth, Texas, with plans for phase two consisting of 302 units, as well as phase three comprising 100 units, the same data provider reveals.

Velocity’s market dissected

As of 2020, Velocity was set to include 2,683 multifamily units, 2.9 million square feet of office space, 585,000 square feet of flex industrial and creative office, 310,000 square feet of commercial use for retail, restaurants and cinema, as well as three hospitals and a central park. Currently, a second multifamily property, retail and restaurant venues are in the design phases.

Presidium’s development breaks the ice as the first project to go vertical inside Velocity. Furthermore, the firm’s future community is the first urban-style development to take root in the southeastern Austin submarket, as the other multifamily communities are garden-style.

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