Journeyman Group’s Sam Kumar along with several of Journeyman Group’s residential projects (Getty, Journeyman Group, JCI Residential)
Journeyman Group is set to start the first phase of construction on an ambitious multifamily project on the north end of Austin.
The Austin-based development firm, through its subsidiary JCI Residential, purchased a 97-acre tract of land in North Austin from the Texas Department of Transportation in 2019 for $18 million, state records show.
The company could build as many as 1,200 units, after receiving permission from the city’s Zoning and Platting Commission. A plan for the site, on U.S. Highway 183 at Avery Ranch Boulevard just northeast of Lakeline Mall, shows 58 acres will be used for residential, with the rest being commercial.
The first 336 apartments will begin construction in March and be completed in Fall 2024, according to a Texas Department of Licensing and Regulation filing. Construction costs weren’t revealed.
The project, Avery Lakeline, will consist of seven four-story residential buildings and a leasing office.
Journeyman Group did not immediately respond to a request for comment. The firm has developed over 200-projects for over $2 billion, according to its website. The firm focuses on multifamily projects, hotels and senior living facilities, with the majority of its work based in the Austin metro.
The Avery Lakeline development site is located just inside the Austin city limits near the border of Cedar Park. It is 9 miles from North Austin neighborhood the Domain, 10 miles from Austin FC’s Q2 Stadium and 18 miles from downtown Austin.
A number of new tech-companies, such as Amazon and Apple, have secured office space in North Austin recently, leading to a boom of growth and development opportunities. While rising interest rates and worries over workers returning to the office have scared off some developers, others are still bullish about the market.
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