Additional details and a rendering have emerged for the 300 Pressler Park multi-family development hinted at in September.
Forestar Group is planning a 112-unit apartment building with parking, on three consolidated tracts totaling about 1.2 acres. The address will be 300 Pressler.
It appears Forestar — a publicly-trading Austin company — purchased the larger 2.3 acre site for $11.7 million, and initially planned 280-unit luxury units in 2014 after purchasing the tracts, aiming at studio, one and two bedroom units and extensive amenities.
The current plan of 112 units appears to be only a component of larger vision. Forestar has a track record of developing apartments for rent, like the new-ish Eleven apartments along I-35, and there is no reason to think this would be any different.
Pressler Street extension
The City of Austin is planning an extension of Pressler Street to better connect Clarksville and W 5th Street with the Lake and trail.
A low-res rendering, released to investors by Forestar in 2014, shows a five to six story building.
This is a special site, along a unique stretch of area sandwiched between W. 5th Street and a ridge that slopes towards greenspace, the hike & bike trail, and lake. Once completed it will become one of the most visible projects for those commuting in/out of downtown along Cesar Chavez.
Hopefully the final design reflects what makes this such a special site.
-Jude
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