Construction on Austin's Newest Luxury Apartments Near Wholefoods HQ Now Underway
Oden Hughes LLC and CWS Capital Partners LLC have created a joint venture to build an upscale apartment community just west of downtown near the flagship Whole Foods Market Inc. store on Sixth Street.
The 226-unit complex with associated retail has broken ground at 1301 W. Fifth St. on a 1.6-acre site that previously was occupied by an AT&T office building and fleet parking lot.
Documents at the city of Austin show that the project is valued at nearly $29 million. About 10 percent of the units — one, two and three-bedroom floor plans — will be leased at below market rates to qualified households.
The development is scheduled to deliver in late 2018, including the 2,200-square-foot retail space on the ground floor. The contemporary styling is by Austin-based Kelly Grossman Architects.
Austin-based Oden Hughes previously built multifamily projects on behalf of CWS — including the recently completed Water Marq mid-rise at 300 E. Riverside Drive.
Oden Hughes also has a track record of building its own projects, including the 339-unit Lenox Boardwalk that will begin welcoming tenants in June. The apartment complex in East Austin is down the street from the $300 million Oracle (NYSE: ORCL) campus, which is under construction. At least 500 employees are expected to work at Oracle, supporting the tech giant’s burgeoning...