Austin 296-unit Falcon Ridge sells to Griffis

AUSTIN – Denver-based Griffis Residential picked up its fourth investment in Austin with the purchase of Falcon Ridge in Austin’s South Congress area.

Falcon Ridge is a 296-unit multifamily community constructed in 2000 at 500 E. Stassney Ln. next to Williamson Creek Greenbelt and just a few miles south of downtown Austin by way of I-35.

Rebranded as Griffis SoCo Austin, the gated garden-style community incorporates one- to three-bedroom floor plans, ranging from 590 to 1,256 sf, with on-site amenities that include a clubhouse, fitness center, reserved covered parking, two pools and a space. Rent ranges from $945 to $1,665.

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