Construction is due to begin this summer on a $ 40 million condominium and townhouse project in the up and coming St. Elmo neighborhood of South Austin. Prices range from the mid-200s to $ 500,000 and above.
The St. Elmo station, near East Ben White Boulevard and Terry-O Lane, will include 136 units: studios, one to three bedroom condos, and townhouses and two bedroom condos. The condos and townhouses range from 798 square feet to 2,385 square feet.
Amenities include a swimming pool, fitness center, rooftop terrace, parking garage, and dog park, as well as on-site storage units and Amazon lockers.
The development should be completed in autumn 2022.
“For the past three years, Legacy Performance Capital has explored new opportunities in the central Texas micro-market. The St. Elmo borough made perfect sense in developing new homes at attractive prices for first time buyers, empty nests, those looking for professional home offices, and others avoiding the higher rents and mortgages that are close to Austin’s central business district can be found. “Philip Jalufka, CEO of Legacy Performance Capital in Lakeway, according to a January 26 press release.
The press release also notes that approximately 1.4 million square feet of residential and commercial space is proposed or under construction in the St. Elmo area, including a giant grocery store building that will be New York City’s Chelsea Market or Pike Place Market in Seattle resembles.
Jalufka’s Legacy Performance Capital funds projects developed by legacy communities. Other residential projects in the Austin area include Gravity ATX, Westside Landing in Rough Hollow, Isabella, Cooper’s Square, Sky Mountain and The Addie in Westlake.