AUSTIN - TDI has acquired 18.2 undeveloped acres located at 5100 South Congress Ave. Plans are to construct a $50.8 million, 352-unit multifamily community during first quarter 2014. The raw land is less than four miles south of downtown.
Williamson Creek flows through the center of the property, allowing for 60 percent of the land to remain undisturbed.
The development will have 162 units on the north side of the creek and 190 units on the south side. Each side will feature a four-story building wrapping a parking garage with amenities including pools, fitness facilities and business centers.
TDI, an institutional developer of multifamily properties, currently has over 2,200 units under construction in Arizona, New York and Texas and has asset management responsibilities for 4,972 units nationwide.
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