A Texas real estate investment firm is venturing to Austin’s east side for its newest multifamily development.
Lincoln Ventures will break ground on a mixed-use complex at 2700 East Fifth Street this summer, the Austin Business Journal reported. The 767,725-square-foot project will have 528 have one-, one-, two- and three-bedroom apartments, according to the Lincoln Ventures website.
It will also have a street-facing group of two-story row homes and live/work units, a cafe, a coworking space, a grocery store and underground parking. Ten of the units will be designated for affordable housing. Community amenities will include two swimming pools, a fitness center, a pet spa and a dog run.
Austin’s Lincoln Ventures joined Boston real estate investment and management company ELV Associates on the project. Pappageorge Haymes will be the architect, Michael Hsu Office of Architecture will handle interior design, Wuest Group is the civil engineer and TBG Partners is the landscape architect. Lincoln Ventures hasn’t named the contractor.
The five-story, mixed-use building complex will be something of a design departure for Lincoln Ventures in Austin. The company made its mark on the city with residential high-rises, many of them student housing in neighborhoods around the University of Texas at Austin campus. Its highest-profile building to date is the 49-story 80 Rainey downtown.
Lincoln expects the so far unnamed complex to be open by the summer of 2024.
[ABJ] — Cindy Widner
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