AUSTIN, Texas — More apartments are headed to Austin’s St. Elmo district, south of downtown, according to KVUE’s media partners at the Austin American-Statesman.
The project, called Bishop Momo, includes nearly 300 apartments in the area south of Ben White Boulevard, around 3 miles south of Downtown Austin.
United Properties – owned by Minneapolis-based Pohlad Companies, which has offices in Austin and Denver – is behind the mixed-use development in the quickly gentrifying former industrial area.
A food truck lot and storage facility previously occupied the site at 4341 S. Congress Ave.
The five-story Bishop Momo development will have 274 studio, one-bedroom and two-bedroom units, including around 6,000 square feet of retail space, the developer said. The apartment complex will include a pool, green spaces, solar-powered common areas, a fitness center, a co-working lounge and other amenities. The developer said pricing will be comparable with similar properties nearby.
Around 10% of the apartment units will have below-market rates, the developer told the Statesman. Of those units, 5% will be priced at 50% of the Austin area’s median family income. The other 5% will be priced at 80% of the median family income.
Construction is expected to be completed by mid-2024.
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