| There area quite a few exciting developments | | | | Further, the airport area sub-market is an important |
| currently going on in the Austin real estate market. One | | | | one in many cities, and Austin will soon be joining their |
| of them is the new luxury apartment tower, Legacy at | | | | ranks. A new $50 million mixed-use development |
| Town Lake. Located at the corner of Rainey and | | | | project is going in close to the Austin-Bergstron |
| Cummings streets, Legacy is a 31 story, 187 unit tower. | | | | International Airport. Airport Gateway, as it will be |
| Building is underway by the California-based Legacy | | | | known, is going to be situated on 58 acres on the |
| Partners Residential Development Inc., and their New | | | | south side of SH 71, by the Met Center campus. The |
| York-based partner BlackRock Inc. | | | | project has been proposed by St. Croix Capital Corp. |
| Needless to say, this project is huge, and one of the | | | | and is slated to include a hotel and 30,000 square feet |
| nice things about it is that the diversity of suites within it | | | | of retail space. Remaining space will include a large |
| means it's accessible to a wide range of people. Suites | | | | industrial building and some empty one acre lots for the |
| will range in size between 650 an around 2,900 square | | | | development of further building projects. |
| feet, priced between $1,330 and $6,939 per month, | | | | Finally, the 22-story building at 301 Congress Ave. has |
| depending on the level of luxury desired. There will | | | | been purchased by the Houston-based Hines Interests |
| even be nine units with subsidized rents, for tenants | | | | LP. This building, located next door to the historic Davis |
| whose annual income is 80 per cent or less of the | | | | Square, is already 3/4 rented for mixed-use retail. It |
| city's median income. In addition, there will be a 265-car | | | | features 24-hour security, attached parking, a fitness |
| garage. Legacy at Town Lake should be opening in | | | | center, bank, meeting room, mail room and luxurious, |
| the fall of 2008, and judging by the quality and diversity, | | | | pedestrian-friendly lobby and lower floor. Many retail |
| it should fill up fast. Interested parties should consider | | | | suites are still available. |
| reserving a suite while they still have some choice. | | | | Austin is truly moving up, as un-used space makes |
| Legacy isn't the only exciting new development. | | | | way for real estate opportunities. If you want to get on |
| There's also an 18-story, 232-unit residential complex | | | | board, don't hesitate to contact me for more |
| going in on Second Street, and another near the | | | | information. |
| corner of West Fifth and North Lamar. | | | | |