A ceremonial groundbreaking was held today for the 270-unit BartonPlace condo project on Barton Springs Road.
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Constructive Ventures, the Austin-based group behind such developments as The Pedernales, 2124 and Saltillo Lofts, is developing BartonPlace in conjunction with local restaurateur Rick Engel. The project is going up near Engel’s Austin Java restaurant on Barton Springs.
Construction on the project designed by Dallas-based BOKA Powell is expected to take 18 to 22 months.
Prry Lorenz, one of the partners of Constructive Ventures, says the company has already collected $45 million in non-refundable earnest money contracts for units in the development.
“Our robust pre-construction sales show clearly that the condominium market in Austin remains very strong,” says Lorenz. “The bottom line is that this is a great location in a solid market, and our team has the proven ability to deliver a unique, high-quality product here. BartonPlace will be a distinctively cool new Austin address.”
Lorenz said the development team also altered their initial plans to comply with Austin’s Town Lake Overlay and Neighborhood Compatibility Standard. “We worked hard for a very long time to make sure that we earned the support of the nearby neighborhoods and businesses – that we were building a community here that would be viewed as a positive addition to the area,” says Lorenz. “It took almost two years to create a project that everyone could support, but we did it, and we’re very proud of it.”