The One Oak condos by the Austin-based offices of Vancouver real estate development firm Intracorp Homes celebrated its official groundbreaking today in the Bouldin Creek neighborhood of South Austin, with construction now commencing on this 106-unit residential community combining condos, eight live/work storefronts at ground level, and 10 top-floor penthouses in a four-story building surrounded by trees and set atop a 2.7-acre tract at 2209 South First Street.
The project’s design team includes Chicago architects Pappageorge Haymes Partners, with local firm Urban Foundry Architecture handling interiors, along with the Austin office of Illinois-based landscape architects Hitchcock Design Group. In addition to its live/work tenants, the project will contain an “anchor cafe concept” in its retail space.
The development’s focus on the area’s natural environment includes 370 feet of frontage along Bouldin Creek, including more than a half-acre of the tract dedicated to the city for parkland providing trail access to the creek and its greenbelt. The project preserves approximately 31 trees on its property, which sounds like good news for nearby residents who have experienced more growth along South Austin’s major corridors than usual in recent years — and don’t always care for it.
While exact numbers aren’t available, the sales team at Brandon Miller Group reports strong interest in the community, with pricing for homes in the building starting in the $400,000s for condo units and $1 million and up for its penthouses.
Despite the popular perception of Austin’s growth, condos in this area are actually fairly rare, with many new residential developments sticking to rental apartments — and while there’s absolutely nothing wrong with renting, additional ownership opportunities in a desirable central neighborhood like Bouldin Creek are extremely welcome, particularly as the city experiences a housing shortage we can only hope to solve through added density in downtown-adjacent neighborhoods. The One Oak project is currently scheduled for completion sometime in 2023.