The Home Depot has just been sitting there, empty, for ten years. It’s taken a while for all of the stakeholders in Austin’s historic St. Johns neighborhood to decide the highest and best use for the land where the shuttered Home Depot sits, along with the old car dealership lot across the street.
Greystar partnered with the Austin Development Department to come up with the plan. The most visible element will be a 526-unit multifamily community, with 50% dedicated to income-restricted affordable housing. Envisioned as a mixed-use, mixed-income property, the site will include 15,000 square feet of commercial space, a clubhouse, and an expanded park. Demolition crews have recently started work on the 14-acre site.
The St. Johns neighborhood was founded by emancipated slaves in the decades after the Civil War, so leaders say people with ties to this area will receive priority for the low-income housing.
Connect Texas Multifamily 2023 will take place on Aug. 22, 2023 at Virgin Hotel in Dallas. Click here for more information and to register.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.