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News – Austin

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​​​​​​ALLEN – Sovereign Properties is developing phase two​​​ of Dolce Twin Creeks, a 366-unit apartment community on ten acres on Junction Dr.

A 15,000-sf medical office building will be adjacent to the community, which will include a fitness center, resort-style pool, and business lounge.​​

Completion is set for fourth quarter 2020.

JLL Capital and BridgeInvest will provide a senior loan totaling $45.5 million to support construction.

Cottonwood Communities Inc. has also committed lending of up to $10 million.​

​​​​​​​ALLEN – Sovereign Properties is developing phase two​​​ of Dolce Twin Creeks, a 366-unit apartment community on ten acres on Junction Dr.

A 15,000-sf medical office building will be adjacent to the community, which will include a fitness center, resort-style pool, and business lounge.​​

Completion is set for fourth quarter 2020.

JLL Capital and BridgeInvest will provide a senior loan totaling $45.5 million to support construction.

Cottonwood Communities Inc. has also committed lending of up to $10 million.​

​​​​ARLINGTON – 180 Multifamily Properties has purchased Summit Plaza, a 65-unit apartment at 412 Summit Ave.

​​The community is close to the University of Texas at Arlington.

The new owner will implement a value-add program that will convert the Class C property into a Class A community.

The seller was a local investor. 

AUSTIN – Oden Hughes LLC has broken ground on Lenox 7th, a 279-unit multifamily complex at 4910 E. 7th St.

The community will include 28 income-restricted units reserved for households making no more than 80 percent of the median family income.

One- and-two-bedroom units will range from 528 to 1,157 sf. Amenities will include two pools, a skyline terrace, and coworking studio.

It is within a designated Opportunity Zone Census tract, making the project eligible for federal tax incentives.

Oden Hughes Construction will serve as general contractor. 

Completion is set for early 2021.