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Developer Pushing Ahead on High-Ticket Mixed-Use Project

AUSTIN-Symcox Development has slid its $30-million plus plan along South Congress Avenue into the city for review. The project, earmarked for 7.3 acres, calls for a 375-unit multifamily component and 30,000 sf of retail.

By Tim Green | Updated on April 08, 2002

AUSTIN-Symcox Development Corp. is moving ahead with a 375-unit multifamily project on South Congress Avenue, submitting site plans to the city’s development office. The project also is to include 30,000 sf of retail with 425 feet fronting Congress Avenue.

Jay Symcox, president of Symcox Development, tells GlobeSt.com that the project’s 7.3 acres is the highest point on South Congress. “It’s got great views of the Capitol and of the Hill Country,” he says. And, being just a half-mile from Ben White Boulevard, it offers easy access to Austin-Bergstrom International Airport as well as the CBD. He estimates the project will run $30 million to $35 million.

The South Congress multifamily submarket has sustained strength despite the slower economy. “This market has maintained some of the highest rent and occupancy levels in the city,” Symcox says.

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