Ledgestone Gets OK to Build 250 Condos on Denny’s Site in Austin

Ledgestone Development Group is expanding its menu, as its vision to redevelop a prominent Austin corner is closer to becoming reality.

The firm, led by president Cass Brewer, received zoning approval from the Austin City Council to convert the Denny’s restaurant on East 16th Street, near Interstate 35 and downtown Austin, into a 250-unit condominium tower, the Austin Business Journal reported.

By rezoning the 1.2-acre parcel, Ledgestone can build a structure that rises up to 230 feet, or about 20 stories. A portion of the building nearest to 16th Street will have a 40-foot height limit, creating a buffer with the low-lying residential areas to the south.

The project, referred to as the Denny’s Condos in city documents, could also feature a cocktail lounge. The site, owned by Las Vegas-based McGrane Living Trust, was most recently valued at $8 million by the Travis Central Appraisal District.

Some local officials have urged Ledgestone to reserve 10 to 12 percent of the units as affordable housing, but the city didn’t require it in the zoning approval. The developer is now clear to move forward with design and planning.

Ledgestone has emerged as a prolific developer in recent years, with a number of Austin-area projects in the pipeline or recently delivered. The Station, a 136-unit condo that sold out in just five hours, is taking shape in South Austin. In December 2022, the developer completed a 46-home gated community called Addie at Westlake, according to Ledgestone’s website.

—Quinn Donoghue