Northwest Austin Edition | July 2021

REAL ESTATE NEWS

2 0 2 1 R E A L E S T A T E E D I T I O N

Newdevelopments to add thousands of apartments toParmer Lane

West of the upcoming EastVillage site, work is now underway on a development that will deliver storefronts, a hotel and hundreds of apartments. Developer Ly & Nguyen LLC broke ground June 18 on Parmer Village, a planned mixed-use development located on a 19-acre site at 900 E. Parmer Lane, Austin, near the corner of Parmer and Harris Ridge Boulevard. According to a news release from project manager Matador Project Solutions, the 400,000-square-foot site includes plans for a 124-room Element Hotel by Marriott. The site will also feature a ve-story apartment complex, which will share an outdoor pool and amenity area with the Element Hotel. Parmer Village’s site plan further includes storefronts inside 11 buildings for restaurants, retail businesses and oce space.

BY JACK FLAGLER AND IAIN OLDMAN

Parmer Lane developments Two projects now under construction will add thousands of new apartments to northeast Austin.

Two mixed-use developments now under con- struction in northeast Austin will add new homes, hotels and businesses to the rapidly changing Parmer Lane corridor. Developers in early June broke ground on the $1 billion-plus EastVillage project. The 425-acre site is located at 3500 E. Parmer Lane, Austin, across from Samsung Austin Semiconductor. The EastVillage development is set to include 2,000 multifamily units and 466 single-family units. Plans for the site further include three hotels, a grocery store, a movie theater, a restaurant, retail and oce space, and a 150-acre woodland preserve. The project is scheduled for full completion by 2028, according to real estate investment rm Reger Holdings.

PARMER VILLAGE 284 multifamily units

35

HARRIS RIDGE BLVD.

DESSAU RD.

EASTVILLAGE 2,000 multifamily units 466 single-family units

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SOURCES: MATADOR PROJECT SOLUTIONS, REGER HOLDINGS COMMUNITY IMPACT NEWSPAPER

NorthwestAustinsenior livingcommunity looks toopen itsdoors inJanuary2022

Bondsapproved for senior housing

CITY PARK RD.

CHAMPION GRANDVIEWWAY

BY IAIN OLDMAN

BY GREG PERLISKI

Texas Hwy., he said. “That will be an opportunity for potential residents and anyone interested to come in and look at the mockups and learn more about the community,” Lander said. The Reserve at Lake Austin, managed by Solera Senior Living, will have 120 units, ranging from studio to two-bedroom apartments. The community will have three main buildings, two of which will rise four stories. Multiple amenities, including ne dining and a lounge with views of nearby Cat Mountain, a salon, a pool and a secure outdoor memory garden, will be available to residents. The memory garden is designed as a safe space for those being treated

The Reserve at Lake Austin, a 109,843-square-foot senior living community under construction at 6401 RM 2222, is on schedule for a January 2022 opening, according to Jeremy Lander, executive director for The Reserve at Lake Austin. “We recently opened up the second entrance into the community o City Park Road,” Lander said. “Construc- tion continues to be on schedule for A welcome center for the commu- nity, which oers services for both independent and assisted living, will open in August at the San Clemente shopping center at 3600 N. Capital of what we are hoping will be a January 2022 opening date.”

The Williamson County Commis- sioners Court on June 15 voted to approve the issuance of tax-exempt multifamily housing revenue bonds not to exceed $50 million to fund the development of the Grand Avenue Flats. The Capital Area Housing Finance Corp. is issuing the bonds, and Grand Avenue Flats Ltd. is listed as the borrower. The bonds will not be a debt or liability to the county, according to backup documents. Grand Avenue Flats is located at 15701 FM 1325 in North Austin and Williamson County, according to county documents. The project will deliver 275 aordable multifamily units for senior residents.

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for dementia and receiving memory care, Lander said. For safety and optimal care, residents also will wear alert devices with GPS capability so their movements can be tracked by sta while moving about, Lander said.

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