A mixed-use project will bring about 70 condos, plus space for shops and offices, to a site across from the Texas School for the Deaf in South Austin.
Austin-based PSW Real Estate, which specializes in in-fill development, expects to break ground on the building, at 900 S. First St., early next year, with completion set for 2019.
PSW has owned the site for about five years, according to Ross Wilson, the company’s division president for Austin and San Antonio.
“It’s a phenomenal neighborhood,” Wilson said. “We’ve talked with the neighbors about several different projects and this was the one that got some traction.”
Two homes on the site were relocated and a third had to be demolished, Wilson said.
“In our mind, it’s irreplaceable land,” Wilson said. “It’s about as close to downtown as you can get.”
The new building, which will be known as 900, will feature four floors above ground, as well as three levels of underground parking, according to plans filed with the city.
Lease space on the ground floor will total about 17,000 square feet. Wilson said PSW intends to relocate its Austin offices, currently about 1 mile away on South First Street, and will occupy a chunk of that space.
The condos on the second, third and fourth floors will range in size from micro-units – or studios – spanning about 500 feet to 1,600-square-foot three-bedroom units.
Pricing hasn’t been announced.
The building has been situated to preserve several mature trees on the site, Wilson said. Many of those trees will be incorporated in a planned courtyard.
Design work is being handled by PSW’s in-house team, Wilson said, and hasn’t been completely finalized yet.
“Our guys are extremely talented,” he said. “It will fit in with the neighborhood.”
The 900 building takes up only part of the site PSW owns, according to Wilson. A second phase will place more than 20 homes on much of the remainder of the site. There’s no timeline for when that work could begin.
The project is one of many changing the face of South Austin. Nearby, the owners of Stitch Lab announced recently that their lease was nearly up and that they would be closing to make way for new development.
“You need to know that our landlords are truly good people, longtime South Austin residents, who have been incredibly supportive of Stitch Lab,” owner Leslie Bonnell wrote in a message to customers. “They just have to cope with the astronomical property taxes in this area, and do what makes sense for their investments.”
Bonnell said it’s unlikely the business will be able to relocate.
“I have looked into other possible locations, but there are slim pickings for our specific needs, within our budget,” she wrote. “The high cost of moving, in and of itself, and the monumental costs of doing business in Austin, are financial hurdles we’re simply unable to overcome.”
And La Feria closed its doors at 2010 S. Lamar Blvd. last month, clearing the way for a new development. The Mexican restaurant has moved to 6301 W. Parmer Lane in North Austin.