AUSTIN, Texas (January 31, 2013) – Affiliates of StreetLights Residential and Hunt Companies, Inc. have joined forces to deliver a new high-rise luxury apartment tower in Austin, Texas. The project owner, SLR Residential at Barton Springs LLC whose members are Hunt Development Group LLC, Hunt Barton Springs (SPV) LLC (both affiliates of Hunt Companies, Inc) and SLR Residential at Barton Springs LLC (an affiliate of StreetLights Residential), will develop the glass and brick tower located at 214 Barton Springs Road. Hunt’s construction services division and StreetLights have joint ventured to construct the building which was designed by Austin-based Rhode Partners.
“The property is in a great location providing panoramic views of the city,” said Doug Chesnut, Chief Executive Officer of StreetLights Residential. “This is our second multifamily project in the Austin area, and we are confident this 19-story tower will be a beautiful addition to the cityscape.”
The project will feature 300 apartment homes with high design elements modeled after a boutique hotel.
The new apartments will average 900 square feet in size with site lines overlooking Lady Bird Lake, the downtown skyline, the State Capitol, and the West Hills.
"We are committed to developing properties which are endearing to a city. This property will represent well-crafted urban architecture, interiors, landscape, art and technology,” added Chesnut.
“Hunt’s objective in Texas continues to be the identification, capitalization, development and construction of exciting new residential opportunities in the major markets of our home state,” says Gary Sapp, President of Hunt’s southwest development division. “Our current projects in Dallas, Austin and Houston deliver premium residential options to those well-educated and sophisticated cohorts seeking an active, urban lifestyle.”
The interiors of the new tower will feature a boutique hotel-style lobby with intimate conversation areas and coffee bar, resort-style pool deck with southern views and spacious fitness center, and a rooftop lounge with indoor amenities and outdoor terrace views to downtown. Pre-leasing is expected to begin summer of 2014 with an anticipated opening by August of 2014.
For more information on the development, visit www.streetlightsres.com.
ABOUT STREETLIGHTS RESIDENTIAL
StreetLights Residential is a development company focused on luxury urban multifamily and mixed-use projects. The team has worked on premier developments in Texas, managing the process from acquisition and financing, design, construction, and marketing. Chief Executive Officer, Doug Chesnut and Chief Financial Officer, Tom Bakewell established the company in early 2011. Paige Close, Senior Vice President of Development oversees development and design with Robert de Bruin, President of Construction leading the construction team, and Stephen Meek handling land acquisitions. StreetLights Residential expands traditional development with thoughtful consideration of a project’s positioning, design, and quality construction.
ABOUT HUNT COMPANIES, INC.
Hunt Companies, Inc. is a real estate company dedicated to building values through development, investment, and management. Hunt is focused in the core areas of public private partnership, military housing, community development, real asset investment management and multifamily housing.
Founded in 1947, Hunt is headquartered in El Paso, Texas, with 1,100 employees in regional offices throughout North America and Europe. Together, Hunt and its affiliates have more than $13 billion in assets under management, including 144,583 multi-family housing units and 8.3 million square feet of office, retail and industrial properties. Hunt has also developed 89,000 housing units, over 1 million square feet of commercial space and thousands of acres of land. Development project costs have totaled more than $6.3 billion with more than $8.2 billion in construction costs.
Visit www.huntcompanies.com to learn more about Hunt, its heritage and commitment to values that build.