Apartment project set for evolving area of East Austin

Feb 25, 2014
Austin American Statesman

A mixed-use project that will bring 186 high-end apartments to East Austin is set to break ground Wednesday

Ardent Residential and Stonelake Capital Partners are developing 7EAST, which will be built on East Seventh Street between Chicon Street and Robert T. Martinez Jr. Boulevard. That area is undergoing a transformation into a entertainment district as a number of restaurants, bars and music venues have opened there, including Qui, Takoba, LaV, Eastside Showroom, Salt & Time and Justine’s

In addition to apartments, 7EAST will have nine street-level commercial spaces for small businesses and shops. The first apartments are expected to be ready for tenants by the summer of 2015, with the entire project due to be completed in early 2016, said Brett Denton, a principal in Ardent with Art Carpenter

Not far from the 7EAST site, for example, Transwestern is redeveloping the former Arnold Oil on East Sixth Street into Eastside Village — a four-story mixed-use project that will have 384 apartments and 7,500 square feet of ground-floor retail, plus an office building with 94,500 square feet of space. The site is across from the Plaza Saltillo MetroRail station

For 7EAST, Ardent and Stonelake Capital Partners worked with surrounding neighborhoods to gain support for a zoning change that the Austin City Council approved in January 2013. The project will include some units with rents within reach of families earning 60 percent of the area’s median family income

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