Editor’s note: A earlier version of the article misstated the size of the 2-bedroom condo unit. It has since been updated. 

AUSTIN (KXAN) — Developers recently broke ground on a new five-story condo development for South Lamar Boulevard at the southeast corner of Bluebonnet Lane.

The project is named Montage. When it’s done, it will include 182 condo units and commercial space. The condo units will range in size from 520 square feet for a studio to 1,400 square feet for up to two bedrooms.

Prices range from $499,000 to just under $1 million.

Eighteen units have been designated as affordable housing, with space reserved for people who make less money. Austin has rules for builders related to affordable housing.

The ground floor will include more than 12,000 square feet of commercial space.

“Montage will offer an incredible opportunity for buyers to own a home in 78704, where new construction under $1 million is very difficult to find,” Robert Lee said, CEO and principal of Pearlstone Partners, the developer behind the project.

The project is being built on what used to be a used car lot. Construction on Montage should finish by the spring of 2025.