Leifer Helming St. Elmo Mixed-Use Project

Leifer Properties received a final okay from the Austin City Council to move ahead on 1,300 apartments in the St. Elmo neighborhood of Austin. The 11-acre assemblage will also include office and retail space.

Warehouses currently occupy the sites. The Austin Business Journal reports after the rezoning, the building heights could not exceed 125 and it upped the number of units Leifer could build from 400 to 600 at one section of the assemblage. The rezoning at one of the adjacent parcels will enable the construction of roughly 700 multifamily units and more than 10,000 square feet of first-floor retail. 

A total of 68 units across both sites are planned as affordable housing. Those units need to be accessible to renters earning 40% and 80% of the region’s median family income. Groundbreaking is planned for early 2024.

On its website, Leifer says it is focused on developing and acquiring value-add opportunities within multiple asset classes in high-growth markets.