According to a news release from Legacy, the developer will invest $40 million into the new project, which will include a mix of condos and townhomes on a vacant 3-acre property. The site plan for the project also shows a commercial component, a community pool, an outdoor gathering area and a gated parking area.
Units will feature flexible live-work spaces and will be priced between $200,000-$500,000, according to the developer. The community is scheduled to open in fall 2022.
“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,” Legacy Performance Capital CEO Philip Jalufka said in the release.
Legacy Performance Capital is also building a 30-home community in South Austin near Dittmar Road and South First Street. Called Cooper’s Square, the project is expected to be open by this summer. 512-598-9553. www.stationstelmo.com