Turnbridge Equities Plots 45-story Apartment Tower in North Austin

Turnbridge Equities’ plan to transform a North Austin assemblage near Q2 Stadium into hundreds of apartments is one step closer. 

Austin City Council will consider Turnbridge’s request to rezone nearly 13 acres along Donley Drive and Kramer Lane, which would allow various commercial buildings in the North Burnett neighborhood to be redeveloped into 825 apartments, the Austin Business Journal reported. 

If city council grants approval during its Thursday meeting, the zoning change would authorize mixed-use residential construction up to 491 feet high, or about 45 stories, with a floor-to-area ratio of 12:1.

The development proposal is divided into two segments. The first is slated for 375 multifamily units at 2111-2115 Kramer Lane, while the second will have 450 units at 2101-2201 Donley Drive, the outlet reported. It’s unclear what the New York-based firm has in mind regarding the allocation of affordable housing.

The development site, dubbed the Q2 Stadium Assemblage on Turnbridge’s website, houses four office buildings spanning 175,000 square feet. It also encompasses an 8.5-acre tract to the south, comprising four commercial buildings. 

The properties have a combined value of nearly $43 million, according to the Travis Central Appraisal District.

Turnbridge has spearheaded several notable projects in the city, including the recently completed CitizenM downtown hotel and the $55 million Music Lane development on South Congress Avenue.

The firm’s portfolio comprises 14 million square feet, with assets across the country. Elsewhere in Austin, Turnbridge owns the 55,000-square-foot mixed-use building at 1007 South Congress, the 244-unit Lola apartment complex at 1221 South Congress and an assemblage of multifamily, office, and retail properties at 127-211 East Riverside Drive.

—Quinn Donoghue