Intracorp Lands $173M Loan for Austin Condo Project
Intracorp has begun construction on a condo project along South Congress Avenue after securing a $173 million construction loan. The construction loan was provided by BGO.
Leifer Properties is a co-developer on the project, and Northland Properties and Aron Industries are project partners.
The Austin Business Journal reports that, per the approved site plan, Leland South Congress will have about 635,000 square feet and 265 studio, penthouse, one-, two-, and three-bedroom condos. It will also have nearly 22,000 square feet of ground-floor retail space and a 6,000-square-foot outdoor dining paseo.
The development is expected to be complete in 2029.
The property used to include a gas station, auto shop, nursing and rehab center and parking lot, structures which have since been demolished.
Andres Construction is handling vertical construction responsibilities for the seven-story project. Kirksey Architecture is the lead architect on the building.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout