Intracorp's latest development would rise where this rehab center, a next-door auto shop and the Shell station pictured in the background stand today.

Austin Business Journal reports, "Intracorp Texas may demolish some existing buildings on the South Congress Avenue retail strip to build a mixed-use project that would bring about 250 housing units to the area.

The project at 2105 S. Congress Ave., directly south of Lively Middle School, would raise a mid-rise condo building with a garage and street-level retail on one of Austin's most popular streets, according to a construction filing with the Texas Department of Licensing and Regulations.

Construction is expected to begin March 1, 2024, according to the TDLR, with an estimated completion date of Oct. 1, 2025. The project carries an estimated cost of $110 million and will be 620,000 square feet.

A site plan filed with the city shows the project would be on 2.8 acres across four lots. Construction would require the demolition of several buildings. Those buildings are a 1,628-square-foot former gas station with a windshield repair tenant, an 11,576-square-foot auto shop and a 46,233-square-foot nursing and rehab center, according to Travis Central Appraisal District. The fourth lot is a parking lot.

Intracorp Texas President Brad Stein confirmed the company is working on the project but declined to comment further. It should be noted that site plan and TDLR filings such as these are preliminary in nature and subject to change throughout the development process.

Houston-based Kirksey Architecture is listed as architect, Nudge Design is attached as landscape architect, Survey Works is identified as surveyor and Kimley-Horn and Associates is listed as the engineering firm.

Intracorp is a notable condo developer in Austin. Its 44 East Ave tower at the southern end of the Rainey Street District, which is completely sold out, took top honors as the city’s best new multifamily development at ABJ’s 2023 Commercial Real Estate Awards. The developer is also selling residences in its 139-condo Congress Lofts at St. Elmo, which is still under construction not far from 2105 S. Congress Ave.

Intracorp isn't the only developer targeting South Congress. Endeavor Real Estate Group is planning a major redevelopment of the old Austin American-Statesman headquarters site, and New York-based developer The Related Cos. is planning two new office developments in the area.

Besides new development, South Congress is a popular spot for new businesses in town. High-end cosmetics company Lip Lab signed a South Congress lease earlier this month and major-name athletic apparel company New Balance could be coming to the strip, among other recent retail moves in the area."


Source: Austin Business Journal

Written by: Cody Baird

Published: November 20, 2023

Posted by Grossman & Jones Group on


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