AUSTIN, Texas, March 4, 2019 /PRNewswire/ -- Stillwater Capital has broken ground on a new apartment community in the suburb of Leander, Texas and has closed on a second land site with plans to break ground in the next 30 days on a new apartment community in Austin, Texas. The projects — with property names to be announced at a later date — include a 259-unit development in Leander and a 222-unit development in Austin's burgeoning Riverside neighborhood.
"With Central Texas experiencing tremendous job growth, Stillwater continues to identify compelling opportunities within certain submarkets to develop new multifamily products to accommodate the growing renter population," says Stillwater Capital's Central Texas Partner Brandon Easterling.
The groundbreaking of the Leander project — in the suburb just north of Austin — will result in a three-level, surface-parked apartment community located at 665 North Bagdad Road. The project's location places residents within close proximity of urban amenities, such as multiple grocery stores, medical, pharmacies, the Capital Metro rail line, golf courses, and the recreational mainstays of Lake Travis and the Hill Country. The project features Class A interior offerings, such as stainless-steel appliances, custom cabinetry, and modern finishes. With a span of more than 12 acres, the property is supported by a Metropolitan Statistical Area that will provide residents convenient access to education, jobs, government programs, outdoor recreation, culture and more.
The Riverside project is located at 2511 Montopolis Drive and sits on six acres within Austin's designated Opportunity Zone, providing residents with desirable access to Austin's Central Business District, Downtown Austin, Interstate 35, Highway 71 and Highway 183. The Riverside project encompasses a four-level, surface-parked apartment complex with Class A interior features, including quartz countertops, wood-like floors and contemporary finishes.
Both projects will feature large resort-style pools, a courtyard with pergolas and grilling stations, a state-of-the-art fitness center, an Amazon Hub Package System and lush green spaces. The Leander project is set to open in late 2019, and the Riverside project is set to open in Fall 2020.
ABOUT STILLWATER CAPITAL
Stillwater Capital is a fully integrated, private real estate company with expertise in sourcing, underwriting, developing, acquiring and managing a vast spectrum of real estate products. Our team has a broad range of experience in managing unique property types such as infill multifamily communities, mixed-use properties, build to suit properties and high-end single-family homes. Stillwater Capital diligently works to conceive, construct and manage projects based upon a complete and balanced understanding of the impact to our communities, residence and partners. In collaboration with exceptional architects and design professionals, we create properties distinguishable by their timeless design, efficient layouts and first-class amenities.
SOURCE Stillwater Capital