American Ventures Eyes Elgin for Mixed-Use Project

American Ventures is seeking a rezoning by the City of Elgin to allow it to build a mixed-use project that will include retail, restaurant and hospitality uses. The rezoning of a 60-acre tract along U.S. 290 is located adjacent to Ascension Seton Elgin Medical Center. Elgin, a growing town of approximately 12,000 residents, is 30 minutes east of Austin.

The project will bring an estimated 349,000 square feet of retail space to the city and 31,400 square feet of hotel space. The Austin Business Journal reports that hotel and retail chains have expressed some interest in leasing at the development, and American Ventures will soon begin marketing efforts for the site. Should the company obtain its rezoning, construction is expected later this year.

On its website, American Venture touts it has managed over 15,000 units, and acquired 4,300 units since 2013. They focus on new development and value-add multifamily & commercial real estate Investments.