The Finger Cos., a Houston-based investment builder has paid $5 million for the property and plans to build to capacity with 403-units within the Lantana development, says Jeff Gray, vice president of development with The Finger Cos. The site is zoned for multifamily use and can accommodate up to 403 units.
Gray told GlobeSt.com that the multifamily development will contain 139 town home-style units with attached garages and 264 units in multi-story units in traditional garden style buildings. "We intend to begin construction in the second quarter of 2001," Gray says.
Finger Construction Co. will act as the general contractor on the project. Wallace Garcia of Houston has been chosen as the architect and Land Strategies as the land planner.
Comerica and Stratus have now joined for a new $30-million credit facility, which consists of a $20-million line of credit and $10-million term loan commitment. Stratus Properties develops, manages and markets real estate in Austin, Dallas, Houston and San Antonio.
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