To be named The Knoll at South Congress, the community will include elevators, a spacious resident clubroom and business center, state-of-the-art fitness center, resort-style pool with outdoor grilling areas, a dog park and spa, attached garages, a community sky-lounge, package concierge service, and bike storage. The units will all feature high-end finishes such as, stone counter tops throughout, designer cabinetry, stainless steel appliances, hardwood style flooring and electronic unit entries.
Located in the South Congress submarket, the Knoll at South Congress will enjoy excellent visibility along the burgeoning South Congress corridor as well as excellent walkability to outstanding retail such as the adjacently planned HEB and Thirsty Planet Brewery as well as over 2.2 million square feet of stores, grocery, bars and restaurants.
"We are very excited to have The NRP Group as our joint venture partner in the development of such an exceptional rental community in the booming city of Austin," said Leo Peicher, PointOne Holdings' principal. "The Knoll at South Congress residents will live Austin's lifestyle without the traffic congestions while enjoying lower rents than in the urban core."
According to a recent article in the Austin Business Journal, the metro population of Austin, Texas has jumped to an estimated 2,168,316 people as of July 1, 2018, according to Census figures released April 18. That was an increase of 2.5 percent from the previous year, the fastest growth of any metro with at least 1 million residents. "That means the Austin metro added 53,086 people from 2017 to 2018, or about 145 a day."
"We are thrilled to contribute to the significant redevelopment of this southern stretch of South Congress Avenue, Austin's most iconic street" said Alastair Jenkin, The NRP Group's vice president of development. "Our project, combined with the new HEB grocery store, Thirsty Planet Brewery, and planned retail and restaurant spaces will create a vibrant, walkable pocket only minutes from downtown."
With the acquisition of 13.3 acre site on South Congress in Austin, Texas the companies estimate that the construction of two midrise structures with surface parking will commence in the next few weeks.
About PointOne Holdings
PointOne Holdings is a real estate investment firm headquartered in South Florida and Atlanta with properties located throughout the Southeastern United States and Texas. The firm owns and manages a diversified portfolio of residential and commercial assets valued in excess of $730 million. PointOne Holdings' principals are seasoned professionals with over 40 years of combined experience who have collectively conducted over $1.9 billion in real estate transactions. Lean more by visiting http://www.pointoneholdings.com
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in- class multifamily housing. Since its founding in 1994, NRP has delivered more than 33,000 apartment homes, and currently manages over 17,000 residential units. NRP is a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive. For additional information, visit http://www.nrpgroup.com.
SOURCE PointOne Holdings