The development encompasses 24.37 acres and includes 9,000 sf of retail, half of which is being taken by Blockbuster Video, Greg Smyrl, JPI's regional asset manager, tells GlobeSt.com. The project is located in the city's Far Northwest submarket near the intersection of Highway 620 and Parmer Lane.

Sixteen of the units incorporate flex designs with first-floor office/retail space for people who want to live and work in the same location. The live/work spaces are connected by a stairwell, which can be removed if the tenant does not want the office/retail spot. The specially designed units carry slightly higher per sf rental rates and are larger in size than the rest of the project due to the amenity. "It's the ability to be close to your office," Smyrl says of the higher cost, which runs around 8-cents more per sf base cost to rent. All live/work apartments will front Parmer Lane.

Live/work units range in size from 2,200 sf to 2,400 sf while the others go from a 484-sf efficiency up to a 2,100-sf three-bedroom dwelling. JPI, one of the nation's largest luxury multifamily developers, is launching the concept in Austin as a result of a survey of high-end apartment dwellers. "It was a very favorable response," he tells GlobeSt.com.