Work Starts on Apartment Project, As Boom Looms for South Lamar
Austin-based Ardent Residential has broken ground on Gibson Flats, a 202-unit upscale apartment complex that will be part of an emerging apartment boom along South Lamar Boulevard.
Slated for vacant land at South Lamar and Gibson Street, the first apartments in the five-story building are expected to be ready for tenants by mid-2013, with the project scheduled for completion in late 2013.
Former Local Gables, JPI Execs Form New Company
Brett Denton and Art Carpenter have formed Ardent Residential, real estate sources say, and will team up with Atlanta-based
Post Properties Inc. (NYSE:PPS).
The new company will focus on development multifamily, condo and mixed-use projects in the Austin area.