Wirtschaft & Industrie
Lynd, Endeavor Real Estate Group Commence Construction on 36-Story, Luxury Apartment High-Rise in Downtown Austin
© Marketwire 2012
(PR-inside.com 19.12.2012 18:58:03)
SAN ANTONIO, TX -- (Marketwire) -- 12/19/12 -- San Antonio-based Lynd, in partnership with Austin-based Endeavor Real Estate Group, has commenced construction on The Bowie, a 36-story, 358-unit luxury apartment building in downtown Austin. Equity for the project is being provided by an institutional investor, who is being advised by Dallas-based L&B Realty Advisors, LLP. This is the second collaboration between Lynd and L&B Realty Advisors -- the first being the successful EnV Chicago high-rise, which was awarded Multifamily Executive's Project of the Year in 2011.
The Bowie, located at 311 Bowie Street, sits along the banks of Shoal Creek and the planned expansion of the famed Hike and Bike Trail. The site is directly across the street from Whole Foods' headquarters and flagship grocery store and sits within the Market District -- one block east of Lamar Blvd. and two blocks north of Lady Bird Lake.
"Lynd and Endeavor have assembled an excellent team to design and build what we believe will be one of the finest luxury residential rental buildings in all of downtown Austin," said Michael Lynd, Jr., CEO of Lynd. "Together, Lynd, Endeavor, and L&B are focused on delivering a residential experience that reflects the unique spirit, texture and culture of Austin. This is a special project with a fantastic location."
The tower, designed by Dallas-based HKS Architects and being constructed by Houston-based Harvey-Cleary Builders, will include 4,000 square feet of ground floor retail, a 463-space parking garage on floors 1 through 7, 41,000 square feet of office space on floors 8 and 9, and residences on floors 10 through 35. The 36th floor rooftop will house the highest swimming pool in Austin, as well as the fitness center.
Units will range in size from 448 square foot studios to more than 2,000 square foot three-bedrooms. The building will contain a majority of studios and one-bedroom floorplans, and the top five residential floors will house 35 penthouse units, including all of the three-bedroom units.
Building amenities will include: concierge services, conference room with videoconferencing capabilities, and a spacious 10th floor landscaped deck that will include a dog run / wash area and abundant seating areas. The 31st floor will house a clubroom, as well as an outdoor deck that will include a fire pit, grilling area, and seating area with an overhead trellis. The clubroom will connect to the outdoor deck via a folding NanaWall of panelized floor-to-ceiling glass. The rooftop will contain a large, 2,000 square foot swimming pool with ample poolside seating and lounging areas, multiple grilling areas, a catering kitchen, and a corner fitness center with panoramic views of downtown Austin and beyond.
Features that the units will offer are: stainless steel appliances, front load washers and dryers, granite and quartz countertops, solar window shades, hardwood flooring throughout, exotic millwork, glass backsplashes, floor-to-ceiling windows, and 8' entry and interior doors.
Managing Principal at Endeavor O. Jamil Alam said, "We are very excited to develop a product of this quality in our backyard. The Market District has evolved into one of the most desirable areas of our downtown. We have been diligently working on this project for almost two years and are absolutely thrilled to see it come to fruition."
First residential units are expected to come online in October 2014, with final completion scheduled for March 2015. The building is seeking USGBC's LEED Certification.
Headquartered in San Antonio, with regional offices in Miami and Denver, Lynd is a national real estate company that develops, manages, finances, and invests in multifamily, commercial, and hospitality properties. With nearly 36,000 residential units under management in 13 states, Lynd is one of the largest multifamily management companies in the country. For more information, visit www.lyndworld.com : .
Endeavor Real Estate Group is a full service commercial real estate company headquartered in Austin. Endeavor is a real estate investor and operator, with in-house research, acquisition, development, construction, financing, leasing, and management capabilities. Endeavor's Managing Principals, collectively, have over 148 years of experience in acquiring, developing, and managing commercial real estate. The firm has acquired or developed over 7.7M square feet of commercial real estate. Endeavor's expertise covers product types including office, retail, industrial, mixed-use, condominium, and self-storage. For more information, visit www.endeavor-re.com : .
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