AUSTIN, TEXAS (Oct. 15, 2015) —Austin-based multifamily developer Oden Hughes just broke ground on a five story, 339-unit luxury community in the East Riverside Corridor near Lady Bird Lake.
Located at the southwest corner of Pleasant Valley Road and Elmont Drive, Lenox Boardwalk will be the latest in a series of developments rapidly transforming the area southeast of downtown with a high density of apartments, condos, restaurants and Class A office buildings, along with new streets, sidewalks and trail connections.
“The East Riverside Corridor is one of the most dynamic areas of Austin,” said Oden Hughes Vice President of Development Howell Beaver. “The number of jobs, outdoor amenities, restaurants and entertainment venues within walking distance truly makes this one of the best places to live in Austin.”
Lenox Boardwalk will be built to LEED for Homes Silver Level standards and feature one and two bedroom apartments, including three large, one bedroom live-work floor plans. Most units will rent for between $1,100 and $2,500 a month.
Oden Hughes will offer 17 apartments at below market rates for households making no more than 60 percent of Austin’s median family income or $3,070 a month for a family of two. Rental rates in these units will start at $800 a month for one-person households and increase with household size.
Oden Hughes is the first developer to offer affordable units onsite — as opposed to paying a “fee in lieu” to the City of Austin — under the East Riverside Corridor Plan.
Austin broker and HFF Director Matt Pohl expects demand at Lenox Boardwalk to be high when it opens in 2017.
“Lenox Boardwalk is in one of the strongest growth corridors in central Austin and will benefit from the continued renter demand for upscale living east of Downtown,” said Austin broker Matt Pohl, a director at HFF. “East Austin’s rise in popularity has increased tenfold in recent years due to its easy access to Austin’s CBD, thus eliminating the headache of Austin traffic, along with the relocation of multiple live music venues, quality sit down restaurants and trendy coffee shops and bars that can now be found throughout the East Riverside Corridor. All of these factors will allow Lenox Boardwalk to cater to the live/work/play lifestyle that is a driving focus for so many Austinites.”
Oden Hughes Taylor Construction will be the general contractor for Lenox Boardwalk. Oden Hughes Management will lease and manage the community.
About Oden Hughes LLC
Oden Hughes LLC is an Austin-based multifamily development, construction and property management company that focuses on Class A properties in the Austin, San Antonio, Dallas, Fort Worth and Houston markets. The company also offers value-add investments, design-build services, and general contracting. Founded in 2010, the firm focuses on multifamily development, construction and management in major Texas markets. For more information please visit odenhughesllc.com.
Media Coverage
- Austin American Statesman, 10/15/2015, ‘339-unit luxury apartment project underway in East Austin’
- Globe St., 10/16/15, ‘Oden Hughes lines up another project’,
- Austin Business Journal, 10/15/15, ‘Oden Hughes breaks ground on mid-rise East Austin apartments’,
- Multi-Housing News, 10/22/15, ‘Oden Hughes thinks broadly in East Riverside’,
Oden Hughes adding 339 units to burgeoning East Riverside Drive area.
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Austin-based multifamily developer Oden Hughes has broken ground on a five-story luxury community near Lady Bird Lake.
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Another upscale apartment community is underway in the East Riverside corridor.
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Oden Hughes breaks ground on an upscale apartment community in the East Riverside corridor.
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