Legacy Performance Capital invests $40M+ in Austin’s up-and-coming St. Elmo micromarket for new, attractively priced condos, townhomes near downtown Austin
The Station at St. Elmo will be developed for first-time buyers & empty nesters seeking work-home space and short walks to shopping, dining and entertainment
AUSTIN, Texas, Jan. 26, 2021 /PRNewswire/ — In an effort to grow with Austin’s newest real estate boom, Legacy Performance Capital has invested in the St. Elmo Neighborhood of South Austin to create impactful communities in the up and coming area. Plans for the site, branded The Station at St. Elmo, include a new, attractively priced, 136-unit condo/townhome community, featuring flexible live/work spaces in South Austin’s up-and-coming St. Elmo District.
An estimated $40M development, The Station at St. Elmo is set to break ground in the Summer of 2021 with an estimated Fall 2022 completion date. It will include two, four story buildings housing studio suites, one- to three-bedroom condos and two-bedroom live/work townhomes and condos, priced from mid $200,000 to $500,000+, with easy access to indoor and outdoor social gathering areas, including an outdoor swimming pool, direct access to live/work and commercial businesses, plus a secure, gated, covered parking garage.
“For the past three years, Legacy Performance Capital has sought new micro-market asset opportunities in Central Texas. The St. Elmo district made perfect sense to develop new, attractively priced homes for first-time buyers, empty nesters, those seeking professional home offices and others avoiding higher rents and mortgages found close by in Austin’s Central Business District,” commented Legacy Performance Capital CEO, Philip Jalufka, who’s also President and CEO of Legacy International, an international sales and marketing firm of urban, active adult, luxury residential, and resort communities with a current portfolio of over $1 billion in revenue. “Our new St. Elmo property will build on our assets in Austin’s South, Northeast, East and Western corridors.”
“Through product charrettes our development and design teams have gone to great lengths to capture the industrial revitalization of the St. Elmo area,” states Legacy DCS President and CEO, Cass Brewer. “We’ve brought in reclaimed materials, weathered brick and metal accents into the interior and exterior building design to create an authentic mixed-use community resembling a modernized warehouse from the early 1900s.”
The formerly industrial St. Elmo District, south of Austin’s city center area, has started to pique the interest of developers, tenants and shoppers alike. The mostly industrial area five years ago has morphed into a conveniently walkable, up and coming shopping, dining and entertainment district with some 1.4 million square feet of residential and commercial real estate either proposed or under construction.
Most of St. Elmo’s commercial space delivered to this point is better known as The Yard, a renovation and conversion of existing warehouses into retail and “maker” spaces (local breweries, creative studios and music venues) marketed to community-minded companies and social entrepreneurs. One of The Yard’s largest developments is Tesla’s $2.5 million renovation at 500 E. St. Elmo Rd. into a 30,000-square-foot auto showroom and service center, slated for completion in September 2021. Another major landmark is the St. Elmo Public Market, a mixed-use project promising office, hotel, residential and retail space, including an indoor market with vendors and restaurants.
Legacy’s new development contributes to the company’s solid experience as an innovative multi-service real estate firm in the Austin market. Legacy Communities continues to expand its Austin portfolio of current residential communities including Gravity ATX, Westside Landing at Rough Hollow, The Isabella, Cooper’s Square, Sky Mountain, The Addie at Westlake and many more coming in 2021 to Austin and other Texas MSA’s.
About Legacy Communities
Funded by Legacy Performance Capital, Legacy Communities provides a suite of residential development services including development, design, construction and sales for active adult, luxury residential, resort and metropolitan master plan communities throughout Texas and beyond. From the original concept design to final build out, Legacy brings an unparalleled level of detail to every community. Through the joined forces of various industry-leading strategic partners, Legacy’s team discovers the story behind each community by studying the DNA of the land and location and then crafting an exceptional product to complement the community vision. With a dedication to being stewards of the land, Legacy approaches every new development as an extraordinary opportunity to change the lives of the future residents, by listening, paying attention to details and offering high quality, energy efficient, sustainable development and construction. Legacy Communities is a brand umbrella dedicated to creating an incomparable real-estate experience for homeowners and future generations. For more information about The Station at St. Elmo, visit www.stationstelmo.com or call 512-598-9553.
For more information on Legacy Communities visit www.legacycommunities.com or call 512.894.8330.
SOURCE Legacy International