AUSTIN (KXAN) — Lincoln Ventures, an Austin-based developer, is set to build a mixed-use development in east Austin. The six-story property will have 625 residential units and two levels featuring co-working spaces, a café and grocery store.
This week, they announced the closing of this development site located at 2700 E. 5th St. near North Pleasant Valley Road. Unit types for lease will range from studios to three-bedroom options. Ten percent of these units will be designed for affordable housing.
Residents and the public will be offered a range of amenities including two outdoor pools, a gym, pet spa and below grade parking with direct access to units.
“As East Austin continues to grow along with the city, it’s important to tap into the lifestyle needs of the area, and this project captures that energy by providing a unique variety of environments, services and experiences to the residents and the community,” said David Kanne, CEO of Lincoln Ventures, in a press release.
The multifamily and student housing developer is set to break ground on the property in the second half of 2022 with an opening date of summer 2024.
Lincoln Ventures is developing similar projects around the country, including a 49-story mixed-use property at 80 Rainey in downtown Austin. Some of its best known projects include student housing developments near The University of Texas at Austin, including The Ruckus, The Ruckus 2.0, Moontower and Waterloo.