Reger Holdings has developed residential and commercial projects across the country, including in the Austin region.
The Linden, at 313 W. 17th, will be near the Texas Capitol, the Blanton Museum of Art and the city’s planned light rail network.
It’s also just a few blocks from the site of a 34-story high-rise with 300 apartments that Austin-based Stratus Properties announced this month that it will develop downtown.
Stratus’ tower is slated for West 12th Street between San Antonio and Guadalupe streets, a few blocks west of the Texas Capitol. The high-rise is expected to be built at an estimated cost of approximately $185 million, according to Beau Armstrong, Stratus’ chairman and CEO. Armstrong said the project “takes advantage of the booming residential real estate market in Austin and is another addition to our growing pipeline of multi-family projects.”
For the Linden project, the architect is Austin-based Rhode:Partners. Brett Rhode, the firm’s founding director, said the tower “will serve as an important hallmark for vibrant urban life in Austin.”
Rhode:Partners has designed numerous buildings in Austin, with one of its most prominent being the Independent, a high-rise condo tower also known as the “Jenga tower” for its cantilevered design.
The Independent, which has garnered nearly a dozen national and international awards, is the tallest residential building in the United States west of the Mississippi River, and currently is Austin’s tallest building, rising 58 stories. It will be surpassed by another high-rise called 6 X Guadalupe, a 66-story mixed-use tower currently under construction at West Sixth and Guadalupe streets.
As the Austin area continues its rapid growth, and amid the region’s hot real estate market, demand for residential living in downtown and the urban core has continued, local real estate agents and experts say.
When Stratus announced its planned apartment tower this month, longtime real estate consultant Charles Heimsath said demand for downtown apartments has surged since the end of last year, with rents and occupancy now exceeding the pre-pandemic levels of 2019,” said Heimsath, who has consulted on the project for Stratus.
He said Stratus’ project “will be the largest apartment tower built in this part of town, and will bring a super luxury product into a currently underserved market.”
