Austin Car Lot Could Spawn 750 Rental Units

United Properties is eyeing a Ford dealership parking lot and a number of other adjacent properties so it can build up to 2,300 apartments along with some commercial space. The Austin Business Journal reports seven parcels make up the 13 acres the company is hoping to convert to a significant multifamily community, including the Leif Johnson Ford Dealership at 501 E. Koenig Lane. The car lot alone could accommodate 750 units. The other six parcels are smaller and scattered around the Leif Johnson parcel. The new zoning could receive approval at a later meeting of the Austin City Council.

United Properties has been a commercial real estate owner, investor, and developer since the company was established in Minneapolis in 1916. It operates in Minneapolis, MN, Denver, CO, and Austin, TX.