REDLEAF PROPERTIES TEAMED UP WITH GREYSTAR REAL ESTATE PARTNERS FOR MIXED-USE DEVELOPMENT AT HIGHLAND
Major new development will continue transformation of Highland Mall area. The transformation of Highland Mall continues with plans for a new mixed-use development. RedLeaf Properties announced Tuesday that it has teamed up with Greystar Real Estate Partners for a development on the southernmost part of the property. The four- and five-story development will feature approximately 300 residential units, 30 of which will be reserved for low-income residents. There will also be about 5,000 square feet of retail space for locally oriented businesses.
Acclaimed Austin architecture firm Michael Hsu Office of Architecture has been tapped to design the project. Amenities include Energy Star appliances, energy-efficient windows and locally sourced materials. Modern perks include a built-in co-working space and several bike storage rooms.
Despite Highland Mall's decline, the location has reemerged as a hub for North Central Austin.
"We’re proud to be a part of Highland’s rebirth to bring future residents a high-quality living experience," said Derek Brown, managing director of Greystar. "Being at Highland means that in addition to a central, accessible location we will be able to offer nearby transit via Metrorail and be part of a thoughtfully planned project that will include new open spaces, a walkable environment and proximity to a growing list of neighborhood food and entertainment destinations."
Construction is scheduled to begin in the fall. Completion is projected for 2017.