An Austin real estate investor has a plan to redevelop Barton Springs Apartments. The project would more than triple the total number of residences on the existing site. CITY OF AUSTIN

Austin Business Journal reports, "A plan to demolish a 40-unit apartment complex near Barton Springs Road to make way for a bigger one is set to be considered by City Council later this month.

The project at 1725 Toomey Road — on a less-than 1-acre tract sandwiched between Butler Shores and the original Chuy’s restaurant — would replace the existing Barton Springs Apartments with a new building containing more than 203 units.

Property owner Greg Smith of First Austin Properties is seeking a zoning change for the location to remove a conditional overlay that restricts building height to under 75 feet. Aside from the conditional overlay, the property has the city's highest-density multifamily zoning.

The exact height and other details of the planned new structure remain unclear, and it's also undetermined if the redeveloped apartments would include any dedicated affordable housing.

Regardless, the proposed project within walking distance of Barton Springs Pool has incited a wave of opposition from surrounding homeowners.

“One major concern is the potential impact on traffic in our neighborhood,” wrote Teresa de Figueiredo, in an email to the project’s City Hall case manager. “With a significant increase in the number of units, the additional residents and their vehicles could lead to congestion and safety issues on our streets. Toomey is already quite congested and I can only imagine this would hurt well­ being of our community.”

The city's planning department has said a formal traffic analysis isn't required because additional movement generated by the proposed project won't exceed a threshold established in Austin's land development code.

The project is set to be considered April 18 by city council, after the planning commission recommended it for approval Feb. 17. City staff also has recommended approval, noting that the project is in keeping with the city's goal of encouraging denser development and housing near public spaces and within walking distance of existing and planned transit corridors.

It's among a number of potential residential redevelopment projects south of Lady Bird Lake that have been proposed with increased density in mind. That includes plans to replace the existing Easton Hills apartments on Burton Drive in South Austin with a bigger complex.

In addition, New York-based real estate development firm The Related Cos. plans to demolish an apartment complex and other buildings along South Congress Avenue to make way for a new multi-tower development. Austin-based real estate investment firm Wildhorn Capital LLC also has plans to redevelop the Hillside Villas and The Patten apartment complexes as part of a project that may result in about 2,100 units where 530 stand today.

The Toomey Road redevelopment will require a parkland dedication for the new residential units. The standard can be met by dedicating land as green space or by paying a fee instead.

The existing site, which includes three individual buildings, is valued at $7.1 million by the Travis Central Appraisal District."


Source: Austin Business Journal

Written by: Mike Christen 

Published: April 9, 2024

Posted by Grossman & Jones Group on


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