Published on March 27th, 2017 | by Kate Harrington
New Apartment Project Breaks Ground Downtown (RENDERING)
An upscale apartment project has broken ground near the Market District.
The development, which will include 226 units and ground floor retail, is a joint venture between Oden Hughes and CWS Capital Partners. It’s occupying a 1.6-acre site near the Whole Foods Market flagship store and headquarters at 1301 W. Fifth Street. That site had previously held an AT&T office building and parking lot.
The Austin Business Journal reports that the project is valued at about $29 million, and that 10 percent of the units will be reserved for lower income renters. The development will include one, two, and three bedroom units.
The apartment project is tentatively known as Marquis On 5th and is expected to be complete by late 2018. It includes 2,200 square feet of retail space on the ground floor. The project’s architect is Kelly Grossman Architects.
Both Oden Hughes and CWS have built apartment communities in and around Austin. Be sure to check back on BuildingATX.com for more updates on this new multifamily project.