A real estate investor is seeking to build up to 160 feet high at a North Austin site near Crestview Station, a move that could kick off a new wave of mid-rise development in the area.
The Austin Planning Commission recently approved a rezoning request tied to a 2.25-acre property at the corner of North Lamar and Airport boulevards, the Austin Business Journal reported.
The plan, submitted on behalf of longtime investor Jimmy Nassour and investors using the name ParkView Partners, would increase the allowable height from 60 feet to 160 feet to enable a transit-oriented development.
The project calls for a 15-story building with 272 residential units, roughly 8,000 square feet of office space and about 2,500 square feet of ground-floor retail, according to city filings. The proposal still requires City Council approval, but its progress marks a notable push toward denser, mixed-use construction in North Austin, particularly near key rail infrastructure.
The property sits near the CapMetro Red Line’s Crestview Station and could eventually be served by a new light rail extension under Austin Transit Partnership’s Project Connect initiative. That proximity makes it a prime candidate for upzoning, as the city seeks to add more housing around transit.
The developers plan to take advantage of the city’s density bonus program, which would require a portion of the units to be offered at rates affordable to households making 60 percent of the area median income.
The site is occupied by a one-story office building and an Enterprise Rent-A-Car, which were built between the 1960s and 1990s. A letter submitted on behalf of the ownership group notes that the location is “uniquely positioned” for transit-supportive development.
The proposal adds to growing development pressure in the area as industrial uses give way to multifamily and mixed-use projects. Nearby, longtime tenant Westbrook Metals is relocating to make room for new development, a sign of broader changes underway in North Austin.
If approved, Nassour’s project could set a new benchmark for scale and use in the corridor and may prompt additional height and density requests along the emerging spine of transit.
— Judah Duke
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