South Congress lofts mark third intracorporeal foray into Austin
North American real estate developer Intracorp is relatively new to Austin, Texas, but he’s not shy about making some high-profile money moves around the city.
On Friday, the Vancouver-based company released details of its latest foray and third development in Austin, Congress Lofts at St. Elmo.
The five-story building at 4315 South Congress will feature nine storefronts on the ground floor and 139 warehouse-style residential lofts on the upper floors, totaling approximately 139,000 square feet of property for sale. There will also be 3,800 square feet available for a commercial tenant.
The lofts will be next to the enormous St. Elmo’s Market, a restaurant and entertainment complex redeveloped into a warehouse and manufacturing plant typical of older buildings in the former light industry zone. They will anchor a 3,800 square foot commercial space in the South Austin neighborhood, which is shaping up to be a major retail, entertainment and residential destination. Also nearby is, in Austin’s most ironic irony, a long-standing musical rehearsal space that will soon be transformed into the Tesla Showroom. Intracorp Texas director of development William Sayers is right when he calls it “a booming new urban neighborhood.”
The developers expect the Congress Lofts project to begin in 2022 and be completed by 2024. Pappageorge Haymes is the project architect and Urban Foundry is the interior designer.
Friday’s announcement also announced what will be Intracorp’s fourth project in Austin: a 50-story downtown hotel-residential tower called “Extraordinary.” The company’s other developments in the city are the downtown 44 East condo tower, which has sold its 309 units and is nearing completion, and One Oak, a condo complex built on the former site of 2, 7 acres of an independent shopping center called “Slackerville.” One Oak, which recently opened its sales center, received 300 reservation deposits for its 106 residences.