REDLEAF PARTNERS WITH GREYSTAR TO BRING NEXT RESIDENTIAL, RETAIL TO HIGHLAND

5/4/17
RedLeaf Properties and Greystar Real Estate Partners have announced a joint-venture partnership that will deliver more apartments and more retail in a new multi-family project near Highland’s future main entrance and adjacent to the Austin Community College (ACC) District’s higher education plans at the former mall. 

Gary Dinges  - American-Statesman Staff

More shops and residences are on the way to the former Highland Mall complex in Central Austin.

Newly announced plans for the property, now owned by Austin Community College, include two more apartment buildings with a combined total of 390 units, as well as 25,000 square feet of ground-floor retail space.

Retail and restaurant tenants haven’t been announced yet.

The two buildings, which will both be four stories tall, will be situated on either side of what’s being called a “gateway green” – a lush open space that’s slated to be the primary entrance to the property from Airport Boulevard.

They’ll join Elan Parkside, another mixed-use project on the ACC Highland site that’s nearing completion. Elan Parkside is set to have 300 apartments and 5,000 square feet of retail space when work wraps up.

ACC is partnering with RedLeaf Properties on the mall’s redevelopment.

“ACC is proud to be part of Highland Mall’s revitalization,” ACC president and CEO Richard Rhodes said. “What’s happening now is an important piece of renewal to our community. Together with RedLeaf, we’re building a thriving mixed-use development, and state-of-the-art learning is at the core. It’s an important investment in the future of the college and community.”

Out of the 390 new apartments planned, 39 will be set aside as affordable housing, according to RedLeaf.

“We’re excited about this development, which will bring even more housing opportunities, including more affordable housing, to a part of town that already has great transportation options,” RedLeaf principal Matt Whelan said. “It’s projects like these that help fulfill Imagine Austin and the community’s goals of a compact and connected city.”

RedLeaf is teaming with Greystar Real Estate Partners, a firm that has developed a number of residential projects in the Austin area, to build the apartments.

“All of us at Greystar are proud to be a part of this groundbreaking development,” Greystar managing director Derek Brown said. “The Highland redevelopment has become one of the most-anticipated real estate projects in Central Texas and a stellar example of a successful public-private partnership that results in a more thoughtful, more vital and more popular project for everyone involved.”

Lake | Flato and Meeks + Partners are architects for the two new buildings. Construction is expected to start late this year, with work projected to take about 18 months.

Amenities for residents will include a dog-walk area, swimming pool, fitness center and community room.
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“There’s a lot happening now and on the horizon at Highland,” said Whelan. “We’re busy bringing on board new residential, new office, new retail and a new park while ACC is busy transforming the former mall into premium education space for its students and faculty. 2017 is indeed a big year at Highland.”

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