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Urbanspace’s condo tower receives financing and development permit

Urbanspace Real Estate + Interiors has announced that The Modern Austin Residences, a 56-storey condo tower in Austin, Texas, received financing and site development permit.

The company secured more the $300m funding from real estate credit investment firm Peregren Capital Group for the development of the project.

Located at 610 Davis St, Austin, the new condo tower includes 346 market-rate homes with floor plans from one- to four- bedrooms ranging from 600ft2 to more than 5000ft2.

The Modern Austin Residences spans across four levels comprising 28,000ft2.

Construction work and sales are scheduled to begin in the first half of next year.

The other partners and consultants working on the new project include Page as architect of record, Nelsen Partners as design architect and Flintco as general contractor.

Urbanspace founder Kevin Burns said: “Although the Austin development process has been lengthy, our team has had the synergy and experience to keep this project on pace while taking our past experiences and creating a building that we know will be best in class.

“We are creating a new standard for condo living in Austin and always thinking with the homeowner top-of-mind. As a condo dweller myself for the past 20 years, I wanted to make sure that the team paid attention to every detail, and I'm privileged to be working with such great partners.

“Urbanspace has worked with thousands of condo owners over the past two decades, and they know that this is our passion, which has driven interest along with the Austin market in general.”

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Rendering of The Modern Austin Residences, a 56-story tower, in Austin. Credit: Binyan/ BUSINESS WIRE.

Источник/a source: http://www.worldconstructionnetwork.com (новость переведена автоматически, просим прощения за возможные неточности перевода).
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