JCI breaks Ground on 300-unit Buda Development
- Jul 05, 2012
Six months after JCI Residential made public its intention to build a $24 million multifamily complex in Buda, the Austin-based developer announced the groundbreaking of the new project. The 300-unit complex, called Silverado Crossing, is being designed by Plano firm Cross Architects, while the general contractor of the development is Journeyman Construction, according to the Austin Business Journal.
The publication added that the first units would be ready for lease by early next year. Additionally, the joint venture project is being financed through equity and debt financing and should provide around 200 jobs, according to JCI President Kurt Goll and as quoted by the Austin Business Journal in a previous article.
Units will range in size from 625 square feet to 1,250 square feet, and rents will average $900 a month, as reported by The Statesman.
As for the amenities, Silverado Crossing residents will be able to enjoy a resort-style pool and clubhouse with a theater and fitness center. Units will feature options such as granite counters, stainless steel appliances and island kitchens. The gated community will include garage and carport parking.
Another important advantage this community will have is proximity to stores and restaurants. The complex will be within walking distance to Cabela’s, Walmart and H.E.B.
In other interesting news, Austin-based American Campus Communities Inc. has acquired a 480-bed off-campus community near the University of Minnesota for $31 million. A manager and developer of student housing properties, American Campus plans to invest $1.8 million to upgrade the complex. In June, the company closed on two deals in Florida, according to the Austin Business Journal.
Photo of a residence included in the Kurt Goll’s development portfolio, courtesy of www.houzz.com
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