$70M Multifamily Project Planned Near Austin FC Stadium

Turnbridge Equities plans to spend $70 million on its upcoming multifamily project near the Q2 Stadium in Austin.

The New York-based firm plans to start construction this year, according to a filing with the Texas Department of Licensing and Regulation. This first phase of the project will include a proposed 450 apartments on an 8.6-acre stretch between 2101 and 2201 Donley Drive, according to city documents. It is less than a mile from the Q2 Stadium, home to Austin FC. The entire mixed-use development also will include land across the street, from 2111 to 2115 Kramer Lane. TDLR filings are preliminary and subject to change.

Turnbridge proposed 450 multifamily units on the 8.6-acre stretch of Donley Drive and persuaded the city of Austin to rezone the area for tall, dense development last year. Currently, four commercial buildings operate on the property. Under the city’s new zoning, the land can accommodate mixed-use residential construction up to 491 feet high, or about 45 stories.

However, the developer’s submitted plan for 2101-2201 Donley Drive describes a wood-framed, six-story multifamily building. The ground floor will include retail elements. The multifamily building will have an adjacent seven-story precast parking garage, according to the filing.

A Turnbridge associate named in the filing did not immediately respond for comment.

Turnbridge acquired the acreage, now called the Q2 Assemblage, between 2019 and 2020 for an undisclosed price as the Q2 Stadium was taking shape. The stadium opened in 2021, coinciding with the launch of Austin FC.

The development will be about two miles from The Domain, a residential, office and retail center in Northwest Austin. Companies that lease or operate at The Domain include Indeed, IKEA, WeWork and PayPal.Another developer, Brandywine Realty Trust, plans to build a mixed-use campus at 11501 Burnet Road, across from The Domain, after IBM vacates it next year.