search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure looms
Commercial
New York

A 16-acre multifamily development headed to North Austin

Lenox Grand will have 315 Class A rental units near Domain

Lenox Grand 13505 Burnet Road, Austin, Texas (OHT Partners)
Lenox Grand 13505 Burnet Road, Austin, Texas (OHT Partners)

Multifamily developers are trying to keep up with all the new office space going up in North Austin’s Domain neighborhood.

Often referred to as the city’s “second downtown,” the mixed-use community has expanded over the years to include several new office towers—and they keep on coming. Amazon leased 330,000 square feet of office space in an under-construction high-rise there last month.

That office development is happening alongside the growth of retail and entertainment complexes and Uptown ATX, a new mixed-use development. The new Austin FC MLS stadium and a number of tech employers also are nearby. That means a lot of workers are looking for places to live in the area. One of the most recent companies to join the multifamily fray is OHT Partners. Formerly Ogden Hughes, the Texas development, construction and investment firm specializes in Class A rental communities.

“The number of high-paying jobs in this area has increased dramatically in the last few years and will continue to do so as the Domain grows, Apple opens its new campus and Uptown ATX attracts more major employers to this area,” said Ben Browder, OHT’s vice president of development. “North Austin needs more housing opportunities for people who want to live near
their jobs and the growing number of popular retail and restaurant amenities nearby.”

Sign Up for the undefined Newsletter

OHT is about to break ground on the Lenox Grand. The new multifamily community at 13505 Burnet Road will be 1.3 miles from the Domain’s retail and office centers. It will have 315 apartments in a garden-style complex on 16.4 acres. It will offer one-, two- and three-bedroom apartments and eight townhouse-style units. Community amenities include a shared work studio, two pools, a pickleball court, a dog park and a walking trail.

The project involves a number of Austin-based, development-related companies, including Davies Collaborative as architect, Pape-Dawson as civil engineers, MEP Delta Design engineers, Blu Fish Collaborative as landscape architect and PPDS interior designers. Houston-based CPH is the structural engineer.

Lenox Grand is scheduled to open in early 2023.

Read more

Tags
Commercial Real EstateDevelopment