AUSTIN, Texas, May 17, 2021 /PRNewswire/ -- The 132 condos that comprise The Station at St. Elmo were completely sold out in a first-ever, record breaking five hours during a same-day virtual sales launch event held this month by Legacy Communities and Legacy Performance Capital, investors in South Austin's up-and-coming St. Elmo Neighborhood and Austin's major real estate boom.
Set to break ground in August 2021, the $40M-plus development will include a North 4 story and South 3 story building housing studio suites and one- to three-bedroom condos, priced from the mid $200,000 to the $600,000+ range, with easy access to several indoor, open air and outdoor gathering areas and lounges.
Special amenities will include a library, home delivery lockers in the lobby, a cozy third-floor night owl lounge with a fireplace, a fourth-floor sky lounge with a catering kitchen offering great views of downtown Austin, separate yoga, dance and fitness areas, an outdoor resort-style swimming pool (with comfortable in-water pool seats), a special dog "bark park," a pet yard, direct access to live/work space, first-floor cafes, offices and shops, as well as a secure, gated, underground private parking garage.
When completed, the new property will capture the St. Elmo area's industrial revitalization, blending thoughtful architecture designed for modern day functioning, using reclaimed materials, weathered brick, metal accents, oversized windows and classic touches woven into both the interior and exterior, ultimately creating a mixed-use community resembling a modernized warehouse from the early 1900s.
"To date, I know of no other real estate company that sold every condo in one community within a few hours of hosting a virtual sales launch. We attribute that to Austin's popularity, an already high housing demand and The Station at St. Elmo's attractive pricing, excellent value, generous amenities, industrial glam architecture and design fitting the location, not to mention our sales team that took reservations when the property was first announced in January 2021," said Legacy Performance Capital CEO, Philip Jalufka, who's also President and CEO of Legacy International, an international sales and marketing firm comprised of urban, active adult, luxury residential, and resort communities with a current portfolio of over $1 billion in sales revenue. "Legacy Performance Capital has several major new initiatives and announcements coming soon."
Legacy DCS President and CEO, Cass Brewer added: "Austin's housing and condo supply hasn't kept pace with the continued strong demand, especially in the formerly industrial St. Elmo district that has become an easily walkable, up-and-coming shopping, dining, entertainment district with some 1.4 million square feet of residential, commercial real estate either proposed or under construction. The new St. Elmo property will only build on our assets we've designed in Austin's South, Northeast, East and Western corridors, including our recently sold out communities of Westside Landing, The Isabella, Cooper's Square, The Addie at Westlake and Gravity ATX with several more properties to be announced later this year."
For the past three years, Legacy Performance Capital has sought new micro-market asset opportunities in Central Texas. The St. Elmo district made perfect sense to develop new, attractively priced homes for first-time buyers, empty nesters, those seeking professional home offices and others avoiding higher rents and mortgages found close by in Austin's Central Business District.
The formerly industrial St. Elmo District, south of Austin's city center area, has started to pique the interest of developers, tenants and shoppers alike. Most of its commercial space delivered to this point is better known as The Yard, a renovation and conversion of existing warehouses into retail and "maker" spaces (local breweries, creative studios and music venues) marketed to community-minded companies and social entrepreneurs. One of The Yard's largest developments is Tesla's $2.5 million renovation at 500 E. St. Elmo Rd. into a 30,000-square-foot auto showroom and service center, slated for completion in September 2021. Another major landmark is the St. Elmo Public Market, a mixed-use project promising office, hotel, residential and retail space, including an indoor market with vendors and restaurants.
About Legacy Communities Funded by Legacy Performance Capital, Legacy Communities provides a suite of residential development services including development, design, construction and sales for active adult, luxury residential, resort and metropolitan master plan communities throughout Texas and beyond. From the original concept design to final build out, Legacy brings an unparalleled level of detail to every community. Through the joined forces of various industry-leading strategic partners, Legacy's team discovers the story behind each community by studying the DNA of the land and location and then crafting an exceptional product to complement the community vision. With a dedication to being stewards of the land, Legacy approaches every new development as an extraordinary opportunity to change the lives of the future residents, by listening, paying attention to details and offering high quality, energy efficient, sustainable development and construction. Legacy Communities is a brand umbrella dedicated to creating an incomparable real-estate experience for homeowners and future generations. For more information about The Station at St. Elmo, visit www.stationstelmo.comor call 512-598-9553.