Endeavor tees up $200M-plus in Austin multifamily projects

Cody Baird | Staff Writer, Austin Business Journal
Source: Austin Business Journal
Google Street View of North Austin shopping center

Endeavor did not comment on the projects and it should be noted that public filings are often preliminary and subject to change throughout the development process. However, these filings paint a picture of possible next steps for a company that has had a notable impact on the Austin landscape.

The first project would be on 4.1 acres at 8440 Burnet Road. It could have about 500,000 square feet across five stories, according to site plans filed with the city, and contain 367 apartments wrapped around a garage, according to a filing with the Texas Department of Licensing and Regulation.

The apartment community would replace a shopping center home to salons, restaurants, bars and nightclubs. Construction could begin in June and last until June 2025, according to the TDLR filing, which gave an estimated cost of $65 million.

Dwell Design Studio is attached to the project as designer and GarzaEMC is attached as engineer.

Another community could rise at the northeast corner of Braker and Kramer lanes in North Austin, on two Endeavor-owned properties that comprise 2300 Kramer Lane. Standing now on the combined 4.3 acres are a Culver’s fast food restaurant and a Copenhagen Imports furniture store, less than a mile east of Q2 Stadium.

Plans similarly call for a five-story building, and this one would have 396 wood-framed units. The project is planned as 600,000 square feet. Cost is estimated at $76 million and construction could begin in July and last through the same month in 2025, according to a TDLR filing.

GarzaEMC is attached as project engineer.

East of Austin, Endeavor is planning 196 townhouses and 360 flats in a community called Citizen House Gilbert, according to a TDLR filing. The townhomes would total 300,000 square feet while the flats — it wasn’t clear if those would be rental apartments — would total about 340,000 square feet.

Construction on the project could begin in June and last until June 2025, costing an estimated $100 million, the TDLR filing indicated.

The project is located on 27 acres at 61203 N. SH-130 Service Road, which is just east of the toll road and west of Gilbert Road.

A fourth Endeavor multifamily project, Decker & Hog Eye, would also rise east of town on 17 acres at 6107 Decker Lane, according to TDLR.

Decker & Hog Eye would consist of 360 units totaling 397,027 square feet. The project also includes the construction of amenity and maintenance buildings.

Decker & Hog Eye carries an estimated cost of $56 million. Construction is expect to begin June 1 and end that same date in 2025.

Irvine, California-based Robert Hidey Architects is attached as designer.

While Endeavor is known for developing some huge real estate projects, it’s also a prolific producer of multifamily communities. The company said on its website it has under development $2.2 billion worth of multifamily and mixed-use projects in Austin, Dallas-Fort Worth, Denver, Nashville and Salt Lake City with a combined 11,100 residential units.

When Austin Business Journal last surveyed multifamily developers, Endeavor reported 1,301 units delivered or in its pipeline in 2021, which ranked fourth-most in the region.

While the multifamily asset class isn’t immune from economic consternation, it seems like a surer bet right now than office in many situations, especially in housing starved Austin. Recently, principal Josh Lickteig indicated Endeavor’s potential mid-rise project at Fifth and Walsh streets could pivot away from office and toward residential, hospitality or retail uses.