posted on February 18, 2011 01:47
The developer behind Austin's Four Seasons Residences is building a $41.7 million apartment complex on South Lamar Boulevard.
Atlanta-based Post Properties Inc. (NYSE: PPS) is a multifamily real estate investment trust that owns dozens of properties nationally, including three in Austin that go for an average $1,284 a month.
The planned Post South Lamar project will total 298 apartment units with an average 852 square feet each. The ground floor will also house about 8,555 square feet of street-level retail space. Officials said they expect to complete the project by the third quarter 2012.
The company did not disclose the project's address, and officials were not immediately available. The Austin-American Statesman said the project was planned several years ago, but hit several snags during city approvals. The publication listed the address as 1500 Lamar Blvd. across from the Alamo Drafthouse.
Austin-based Ardent Residential said on its website it is providing development management services for a project with the same name and similar description. The company said the project will include four- and five-story buildings, a pool, fitness center, business center and parking garage. It listed LRK Architects as the designer, Bury + Partners as civil engineer and Rampart Construction as contractor.
2/9/11, Austin Business Journal