Austin Developer Moving Forward on 182 Condos, Retail
Pearlstone Partners is developing the Montage, a 182-unit condominium project to be located at the southeast corner of South Lamar and Bluebonnet Lane in Austin. Summit Design Builders is the general contractor for the project. Knighthood Funding has provided $75 million in construction financing. The property, an abandoned used car lot, will be the site for a five-story development that will include 12,872 feet of retail
The project also has 18 homes designated as affordable to households. Nine units are available to buyers earning 80 percent or less of the region’s median family income (MFI) and nine are available for buyers earning 100 percent of the MFI, meeting the 10 percent overall affordability requirement of the city’s Vertical Mixed-Use (VMU) zoning program.
Montage is estimated for completion in spring of 2025. Pearlstone is also developing Parkside at Mueller, which will be complete in Q4 of this year and is 100 percent sold out.