AUSTIN, TX—Construction financing to the tune of $194 millionhas been secured for 44 East Ave., Intracorp's first Austindevelopment, provided by MSD Partners LP and Bank OZK. The 49-storycondominium high-rise located in the Rainey Street district at 44East Ave. is scheduled for completion in 2022 with homes availablefor purchase now.
"Austin's resilience, like its dynamism, makes the city soenticing, and it's one of the many reasons Intracorp chose todevelop here," says Don Forsgren, Intracorp president and CEO,North America. "It's also why capital investment in this citycontinues to make sense even today. We are excited to complete thisnew financing from MSD and Bank OZK, allowing Intracorp to take animportant step forward in delivering an extraordinary newresidential tower to downtown Austin."
Since breaking ground in October of last year, 44 East Ave.remains the only one planned for completion in 2022. A selection ofhomes available range from less than $400,000 to more than $4million.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
