Class A TOD Residential Community Breaks Ground Within Crestview Neighborhood On North Lamar Boulevard
AUSTIN, TX – High Street Residential and Principal Real Estate Investors have broken ground on Crestview Commons, a Class A 4-story residential project comprised of 353 units, including 1, 2, and 3 bedrooms. The project sits adjacent to the Crestview MetroRail station at North Lamar Street and Sugaree Avenue. Pre-leasing will commence in January 2018.
“We have been active in delivering high-end residential communities in the Crestview neighborhood for nearly a decade and we are excited to kick off our third project providing a community for residents seeking to live in Austin near the urban core at competitive rental rates,” said Adam Nims, Principal with High Street Residential’s Austin Business Unit. “Year after year Austin continues to receive accolades for quality of life, culture, jobs market, startup activity, most talented workforce, best place to start a business and most millennial city, which makes this ground breaking and opportunity very exciting for our team. The Crestview neighborhood itself has become one of the most sought after in the City providing proximity to Downtown, a high number of neighborhood amenities, and an affordable lifestyle. The Crestview Commons TOD site offers all the benefits of being directly adjacent to the Crestview MetroRail station, with easy access to the downtown core, the University of Texas as well as retail, grocery, shopping and work options.”
The Crestview Commons apartments will range from 642-to-1,405 square feet. Indoor residential amenities include a conference room, resident lounge, entertaining kitchen, a top-floor indoor and outdoor clubroom with views of downtown, Wi-Fi throughout the common areas and a well-equipped fitness center. Outdoor amenities will offer three courtyards: one providing an active fresh air appeal for residents to exercise and do yoga with the fitness center doors opening up to the area, a relaxation courtyard, and a pool courtyard with a resort style pool and pool area including sunbathing shelves, water features, fire pits and grills. Lastly, for the dog lover’s there will be direct access to a 7,000-square-foot partially shaded dog park. The project will have sustainable building features and will be seeking LEED® certification.
Crestview Commons is well-positioned for easy access to the greater Austin area. The site has quick and convenient access to downtown on N. Lamar Blvd., US-183, Interstate 35, US-290 and MoPac.
The project architect is JHP Architecture. Andres Construction will serve as general contractor.
Construction financing is being provided by Comerica Bank and Southside Bank.
About High Street Residential
High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. Over the past decade, the Company has completed 5,000 units in over $1.2 billion in value with a current pipeline of more than 4,500 units valued at $1.8 billion.
