Business partners Tim Manson and Byron Smith, both from Australia, are planning to build a multiuse, multistory commercial condominium project directly across the street from Mansfield Dam in Northwest Austin.
Manson and Smith, who call their company XSpace Group, purchased 5.43 acres at 4229 RM 620 in Austin’s extraterritorial jurisdiction in January and said they are now finalizing a site plan for the facility they plan to present to Austin officials by the end of March. Manson said this will be the first of many facilities planned throughout Texas.
Tentative plans for the facility call for 100,000 square feet with anywhere from 65,000-70,000 square feet of units within the building up for sale.
Southwest Strategies Group is a brokerage firm that has partnered with XSpace Group on the project. Southwest Strategies representative Adam Fike said the fundamental difference between this and other industrial-level storage facilities is the fact that these units are for sale, not rent. Fike said initial plans are for unit space sizes starting at 300 square feet call for a price point at $72,000.
Fike said XSpace Group has so far taken 10 reservations from customers for units of varying sizes.