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Residential Rezoning Sought Along North Austin Corridor
Dallas-based Stillwater Capital Investments is seeking to have a 4.4-acre site along Burnet Road in North Austin rezoned to allow for the construction of a 360-unit, six- or seven-story apartment complex at a maximum height of 90 feet. About 10% of those units would be reserved as affordable for those making 60% of the area’s median family income, the Austin Business Journal reported.
A 35,202-square-foot retail and office center would have to be demolished to make way for the apartment complex, according to plans submitted to the city of Austin. About 40% of the center is vacant. Tenants include The Local Post Pub, which fronts Burnet Road.
Stillwater has the property under contract to purchase, the Business Journal reported. Ronan Corp. is the current owner of the property. Nearly 1,400 apartments along Burnet Road have been proposed by various developers.
For comments, questions or concerns, please contact Paul Bubny
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