Pfluger Architects and developer SHIR Capital completed a hotel-to-apartment transformation in Austin. Veer Apartments, a former Quality Inn located at 7928 Gessner Drive, is now a renovated five-story building offering studio apartments in two floorplan choices.
Veer Apartments features more than 89,000 square feet of living space and amenities in 174 pet-friendly units, all outfitted with modern floorplans. Pfluger’s Erik Leitner added, “The hotel floor plate is not much different from that of a studio or one-bedroom apartment, so the conversion and redesign is less expensive and time-restrictive than other adaptive reuse projects.”
Veer offers resident amenities including an outdoor pool and BBQ grills, a 24-hour fitness center and a pet spa.
Development partners include Austin Outdoor Design as design architect and Avas Construction as general contractor.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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