DALLAS, Dec. 13, 2019 /PRNewswire/ -- Stillwater Capital Investments, a leading Dallas-based multifamily developer, today announced the start of construction on its 372-unit, Class-A apartment development in Austin, Tex. Stillwater is partnering with Dubai-based Sweid & Sweid on the deal.
The project, situated at the intersection of Farm-to-Market 1626 and Old San Antonio Road, will be a 3-story, garden-style complex. The first units are scheduled to be delivered in the spring of 2021, with final construction completed during the summer of 2021. The project features unparalleled access to IH-35 and the thriving South Austin submarket.
The complex will offer a best-in-class set of community amenities, including a state-of-the-art fitness center, resort-style pool, large clubhouse and resident lounge including a private micro market, courtyard with outdoor lounge area and fire pit, dog park, Wi-Fi in all common areas, and controlled building access. Units will have Class A apartment features including stainless steel appliances, quartz countertops, custom cabinetry, faux wood floors, and modern finishes.
According to Stillwater Partner Brandon Easterling, the South Austin rental market has historically outpaced other submarkets in Austin in terms of unit absorption, while still maintaining a reasonable amount of annual deliveries. It's also becoming more challenging to find large tracts of developable land within 15 minutes of downtown Austin. Easterling loves the South Austin demographics and feels that over the next 3-4 years, the area's density will continue to increase, providing this phase and the next phase of our project with tremendous retail access and convenience to the everyday needs of our renters.
About Stillwater Capital
Stillwater Capital is a fully integrated, private real estate company with expertise in sourcing, underwriting, developing, acquiring and managing a vast spectrum of real estate products. Its team has a broad range of experience in managing unique property types such as infill multifamily communities, mixed-use properties, build-to-suit properties and high-end single-family homes.
SOURCE Stillwater Capital Investments
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