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Gables Revs Up 459-Unit Project

AUSTIN-Gables Grandview will sit on 98 acres on a hill overlooking Capital of Texas Highway. With 1,677 units under wing in Austin, Gables proves just how bullish it is on Austin by taking on the project.

By Tim Green | Updated on November 10, 2002

AUSTIN-Gables Residential is getting ready to start work on a 459-unit project in northwest Austin and it may be the start of a flurry of building and buying in Austin from the Boca Raton, FL-based company.

“We’re looking at some very core acquisitions,” Kevin Pape, Gables’ regional vice president, tells GlobeSt.com. “We’ve both developed and acquired properties here in Austin and we have a couple of properties we’re looking at…as well as several properties that are under review for acquisition.” He says the properties are oriented toward the central part of the city “from 360 (Capital of Texas Highway) on in.”

In Austin, Gables has seven apartment communities with a total of 1,677 units in the northwest, central and south submarkets. “We’re long-term holders and builders, so we’re here in Austin for the duration,” Pape says. “We’ve experienced the highs as well as the current situation.”

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