Trammell Crow Starts Work on Texas Apartments
The developer’s residential arm, together with Principal Real Estate Investors, has broken ground on the final phase of Crestview Commons in the North Central submarket of Austin.
Construction is underway on Crestview Commons Phase IV, a Class A five-story residential building that will offer 226 units in the North Central submarket of Austin, Texas.
High Street Residential, the multifamily arm of Trammell Crow Co., is building the project with retail developer Principal Real Estate Investors.
Crestview Commons Phase IV will feature one-, two- and three-bedroom units—including efficiency apartments—ranging from 525 to 1,451 square feet. The development team is looking to have the property earn LEED certification with a host of sustainable measures.
The property will boast an impressive array of outdoor amenities, including:
- fitness courtyard
- resort style pool courtyard with sunbathing shelves
- fire pits
- relaxation courtyard
- 7,000-square-foot dog park.
A Decade-Long Project
High Street Residential has been working on the Crestview Commons development for more than 10 years and its work has helped transform the neighborhood. When this final phase is complete, the development will feature 1,141 units and approximately 60,000 square feet of retail space.
Crestview Commons Phase IV will be situated near the Crestview Metrorail station at North Lamar Street and Sugaree Avenue. It’s conveniently located near Austin’s downtown area, close by North LamarBoulevard, US-183, Interstate 35, US-290 and MoPac. Leasing for the property will begin in March 2020.
Amegy Bank is providing construction financing for the deal. JHP Architecture is serving as project architect and Andres Construction will serve as general contractor.
In April, High Street Residential began construction on Mercantile Village, a major mixed-use community near Portland, Ore., that will offer 206 apartments and 50,000 square feet of retail space.