Stillwater Capital breaks ground on Class-A multifamily project in Texas, US

WCN Editorial Team 16 Dec 2019 NORTH AMERICA BUILDINGS

US-based multifamily developer Stillwater Capital Investments has broken ground on 372-unit, Class-A multifamily development in Austin, Texas.

Located at the intersection of Farm-to-Market 1626 and Old San Antonio Road, Texas, the project will be a three-storey, garden-style complex.

The project is being developed in partnership with Dubai-based Sweid & Sweid.

The first phase of the project is scheduled to be completed in the spring of 2021, while the rest of the project is expected to be completed during the summer of the same year.

The project includes a fitness centre, resort-style pool, a clubhouse and resident lounge along with a private micro-market. It also includes a courtyard with an outdoor lounge area and fire pit, a dog park, Wi-Fi in all common areas, and controlled building access.

Additionally, the units will feature stainless steel appliances, quartz countertops, custom cabinetry, faux wood floors and modern finishes.

Furthermore, the project offers access to IH-35 and the thriving South Austin submarket.

Stillwater Capital partner Brandon Easterling said: “The South Austin rental market has historically outpaced other submarkets in Austin in terms of unit absorption, while still maintaining a reasonable amount of annual deliveries.”

Recently, a joint venture of multifamily housing developer The NRP Group and a real estate focused family office investment firm Willton Investment Group have broken ground on Lucent, an upscale apartment communities in Austin, Texas, and Largo, Maryland.

Located at 12201 Dessau Road in Austin, the project comprises 368 apartments across 16 three-storey residential buildings with attached garages and a standalone clubhouse.

The project is located within two miles of major employers that include Dell, General Motors, Applied Materials and Samsung’s semiconductor facility, while Apple’s current office and future corporate campus is also within a five-mile radius.

The partnership is also developing The Everly, at 100 Capital Court in Largo, which will comprise 260 apartments within two L-shaped buildings and one U-shaped building.

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Image: Stillwater Capital breaks ground on Class-A multifamily project in US. Photo: courtesy of PR Newswire. 

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