AUSTIN - Upscale apartments are rising up in the inner city. RiverView at I-35 and Riverside Drive as well as development further to the east along the shores of Lady Bird Lake — South Shore District and Lakeshore Pearl.
The projects are close to town, however, and many units sport riverfront views. They also will come complete with expensive price tags like the other complexes in the city’s development pipeline.
South Shore District will charge about $2 per sf or $1,200 for a 600-sf unit and maintaining that psf rate for units in the 1,800-sf range. Rents at Lakeshore Pearl might be slightly less on a psf basis with a monthly rent of $1,200 for a one-bedroom unit and topping out at $2,100 a month for three bedrooms.
This is a far cry from the existing housing stock in that area, which has served middle and lower income families for many years.
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