AUSTIN, TEXAS (Aug. 19, 2019) — Oden Hughes, LLC recently broke ground on a 279-unit multifamily community in East Austin that is scheduled to open in early 2021.
Located at 4910 E. 7th St., the Lenox 7th community will include 28 income-restricted Affordable units.
In addition, OH Gonzales, LP — a limited partnership affiliated with Oden Hughes —will make a $250,000 donation to the East Austin Conservancy, a non-profit that works to preserve affordability and economic diversity in East Austin.
“This project will transform a commercial lot into hundreds of homes, provide high-quality Affordable living opportunities long-term, and help a worthy local non-profit serve more people in the neighborhood,” said Oden Hughes Vice President of Development Ben Browder.
Oden Hughes agreed to make the $250,000 donation to the East Austin Conservancy as it worked with the City of Austin and the Govalle-Johnston Terrace neighborhood contact team to rezone the 4-acre former commercial site last year.
“This project represents a great example of effective cooperation between the development team and the community,” said East Austin Conservancy Board Chair Raul Alvarez. “The developers sought out and gained neighborhood support. This led to an agreement on density and affordability that includes the largest donation ever made to the Conservancy’s Eastside tax payment assistance program.”
Alvarez said Oden Hughes’ donation will enable the Conservancy to assist at least 35 families a year with property tax payments, up from 12 families receiving assistance each year today.
Lenox 7th will feature two resort-style pools, a fourth-floor skyline terrace and a co-working studio. One-and-two-bedroom units in the community will range from 528 to 1,157 square feet.
Market rate units are expected to rent for between $1,560 and $2,500 a month. The income-restricted Affordable units will be reserved for households making no more than 80 percent MFI and rent for below market rates that will be set and adjusted each year by the City of Austin’s Neighborhood Housing and Community Development Office.
Lenox 7th is located in a designated Opportunity Zone Census tract, making the project eligible for federal tax incentives under the Tax Cuts and Jobs Act of 2017.
Blueprint Local is an investor in the project. Blueprint Local is a national platform that helps communities connect with capital by bringing together investors, landowners, developers and community members to collaborate in revitalizing neighborhoods.
Oden Hughes Construction will serve as general contractor.
The project team also includes:
- Davies Collaborative — Architect
- Big Red Dog — Civil Engineer
- MEP Delta Design — MEP Engineer
- CPH Engineering — Structural Engineer
- Blu Fish Collaborative — Landscape Architect
- PPDS — Interior Design
About Oden Hughes LLC
Oden Hughes LLC is an Austin-based multifamily development and construction company that focuses on Class A properties in the Austin, San Antonio, Dallas, Fort Worth and Houston markets. Founded in 2010, the company also offers value-add investments, design-build services, and third-party general contracting services. For more information, visit: https://www.odenhughesllc.com/.