JV Breaks Ground on Crestview Commons in Austin
The development marks High Street Residential’s third project in the area.
Austin, Texas—High Street Residential, a subsidiary of Trammell Crow Co., and Principal Real Estate Investors have broken ground on Crestview Commons, a Class A, four-story residential development in Austin, Tex. Pre-leasing will begin in January 2018.
The 353-unit project, situated adjacent to the Crestview MetroRail station at North Lamar Street and Sugaree Avenue, will offer one- to three-bedroom floor plans ranging from 642 to 1,405 square feet. The community will have sustainable features and will be seeking LEED certification. Indoor amenities will include a conference room, resident lounge, clubroom and fitness center as well as Wi-Fi throughout the common areas. Outdoor amenities will feature three courtyards—one for exercise and yoga with the fitness center doors opening up to the area, one for relaxation and a pool courtyard with a resort-style swimming pool. Moreover, the community will have access to a 7,000-square-foot partially shaded dog park.
“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,” Adam Nims, principal with High Street Residential’s Austin business unit, said in prepared remarks. “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 (…). 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,” concluded Nims.
The project architect is JHP Architecture and Andres Construction will serve as the general contractor. Construction financing is provided by Comerica Bank and Southside Bank.