Austin Business Journal shares, "An East Austin lumber yard could be redeveloped into hundreds of multifamily units.
The 300-plus-unit project is planned at the former site of Eastside Lumber & Decking near the intersection of East Cesar Chavez Street and North Pleasant Valley Road.
The developer of the project, JLB Cesar Chavez, is Dallas-based JLB Partners, according to a filing with the Texas Department of Licensing and Regulation. The property owner is an entity called TRG Cesar Burleson LLC, according to Travis Central Appraisal District. The address of TRG Cesar Burleson LLC matches that of Dallas-based Trinsic Residential Group.
Neither JLB nor Trinsic — known apartment players in this market already — responded to requests for comment.
The multifamily project, which carries an estimated cost of $100 million, would rise on a roughy 6 acre tract at 2915 E. Cesar Chavez St. It is planned to have 309 units and total 341,641 square feet.
The project will have a precast concrete garage surrounded by a wood-frame building.
Construction is expected to start Dec. 1 and wrap up Dec. 31, 2027.
JLB and Trinsic Residential are active within the Austin area. JLB counts North Lamar Boulevard's Echo apartments among its portfolio, while Trinsic has Aura High Pointe, apartments located near Lake Travis, in its portfolio.
Deliveries of multifamily projects in the Austin area have been forecast to decline in the coming years, but some are still being planned. Uncertainty has been swirling around the metro's multifamily market, and a number of projects have been canceled or delayed.
Still, new projects that are in the planning stages include a townhome development off of South Congress Avenue called SoCo House, a 104-unit multifamily project called Bailey at Stassney in South Austin and a 297-unit project called Quarry Oaks planned near The Domain.
Much of the uncertainty surrounding the market has been fueled by a vacancy rate that clocked in at 15.3% in June, according to ApartmentData.com. It's an elevated level that's a concern for developers and property managers because high vacancy rates lead to lower rental rates and less new development as investors hesitate to back new projects."
Source: Austin Business Journal
Written by: Cody Baird
Published: June 17, 2025
Posted by Grossman & Jones Group on
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