Cypress R.E. Advisors' Lakeshore development

From Urban Austin

Houston-based Grayco Partners, LLC has proposed a $400-$500 million; 1,750-2,500-unit redevelopment project on a 50-acre tract off of S. Lakeshore Blvd. This multi-building development will replace an 1,000-unit apartment complex built in the 1970s. The new Apartments, condominiums and townhomes will be priced from the low $200s and rents for the apartments starting at $1,100 per month.

In addition to the living units, Grayco plans on incorporating 390,000-450,000 SF of commercial space into the development.

Statistics

Status:	Approved on 1st reading (of three)
Floors:	up to 12
Height:	120' (36.6m)
Square footage:	N/A
Start:	Late 2008 (Phase I)
Finish:	2012 (for total build-out)
Developers:	Grayco Partners, LLC