First phase of Crestview Station project underway

Austin Business Journal

A groundbreaking ceremony will be held next Tuesday for Midtown Commons, the 73-acre, mixed-use development that will go up adjacent to the Crestview Station commuter rail stop in Central Austin.

High Street Residential, a wholly-owned subsidiary of Trammell Crow Co., is developing the transit-oriented development that will marry retail, residential and office space.

The first phase of the project surrounding the actual transit station will feature 316 apartments, 30,300 square feet of retail and 30,300 square feet of office and should be delivered in February 2009.

Lance Sallis, managing director of Trammell Crow's Austin office, says the company is pleased to begin construction on the long-awaited project at the intersection of Lamar Boulevard and Airport Boulevard.

"This TOD project addresses mobility issues through smart growth and proximity to public transportation while enhancing the economic development of the area," says Sallis.

USAA Real Estate Co. is Trammell Crow's equity partner on the project.

Trammell Crow Co. is a wholly-owned and independently operated division of CB Richard Ellis Inc. (NYSE:CBRE).