AUSTIN, TEXAS (March 20, 2017) — CWS Capital Partners, LLC and Oden Hughes, LLC have broken ground on a 226-unit Class A multifamily community immediately west of downtown Austin.
The six-story project at 1301 West Fifth St. will offer one, two and three-bedroom units, with 10 percent rented at below market rates to qualified households.
Scheduled to open in late 2018, the project also will include nearly 2,200 square feet of ground floor retail.
“This is one of the best locations in Austin,” said Oden Hughes Managing Director Mac McElwrath. “Two million square feet of retail amenities — including the Whole Foods Flagship store and some of the most popular restaurants and bars — are within one mile of this community. Lady Bird Lake and the Roy and Ann Butler Hike and Bike Trail are just a few blocks away and Zilker Park is within easy walking distance.”
This is the first project co-developed by the two Austin-based companies.
Oden Hughes Construction served as general contractor on three previous CWS projects, including the recently completed 264-unit Water Marq on East Riverside Drive, and will be the general contractor on the West 5th project.
Kelly Grossman Architects designed the project.
“This area along the West 5th Street corridor is where Old West Austin meets an increasingly contemporary downtown,” said CWS Capital Partners Vice President of Development Jarrett Sullivan. “We designed the project to reflect that by combining traditional building materials in a more modern design.”
Amenities at the project will include a fifth-floor lounge and deck with skyline and lake views; resort style pool and sundeck on the second floor; game room featuring billiards and an arcade; dog park and indoor dog washing room; and a bike workshop and bike storage.
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.
About CWS Capital Partners
CWS Capital Partners is a fully integrated real estate investment management company that specializes in the acquisition, development, reposition, and management of luxury apartments. CWS and its investors own and manage over 28,000 units of luxury apartments in high-growth markets across the United States including Atlanta, Austin, Charlotte, Dallas, Denver, Fort Worth, Houston, Phoenix, Raleigh, San Antonio and Seattle.
Media Coverage
- Austin Business Journal, 3/20/17, ‘Seasoned developers start work on Austin luxury apartments near Whole Foods HQ’
- BisNow, 3/20/17, ‘West Fifth Street getting more affordable housing, market rate multifamily’
- Multi-Housing News, 3/22/17, ‘Class A multifamily community breaks ground in Austin’
Oden Hughes and CWS Capital break ground on 226- unit project.
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Oden Hughes and CWS Capital Partners break ground on six-story mixed-use project immediately west of downtown Austin.
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The development will include nearly 2,200 square feet of ground floor retail space.
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