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Legacy Performance Capital invests $40M+ in Austin’s up-and-coming St. Elmo micromarket for new, attractively priced condos, townhomes near downtown Austin
The Station at St. Elmo will be developed for first-time buyers & empty nesters seeking work-home space and short walks to shopping, dining and entertainment
January___, 2020: In an effort to grow with Austin’s newest real estate boom, Legacy Performance Capital has invested in the St. Elmo Neighborhood of South Austin to create impactful communities in the up and coming area. Plans for the site, branded The Station at St. Elmo, include a new, attractively priced, 136-unit condo/townhome community, featuring flexible live/work spaces in South Austin’s up- and-coming St. Elmo District.
An estimated $40M development, The Station at St. Elmo is set to break ground in the Summer of 2021 with an estimated Fall 2022 completion date. It will include two, four story buildings housing studio suites, one- to three-bedroom condos and two-bedroom live/work townhomes and condos, priced from mid $200,000 to $500,000+, with easy access to indoor and outdoor social gathering areas, including an outdoor swimming pool, direct access to live/work and commercial businesses, plus a secure, gated, covered parking garage.
“For the past three years, Legacy Performance Capital has sought new micro-market asset opportunities in Central Texas. The St. Elmo district made perfect sense to develop new, attractively priced homes for first-time buyers, empty nesters, those seeking professional home offices and others avoiding higher rents and mortgages found close by in Austin’s Central Business District,” commented Legacy Performance Capital CEO, Philip Jalufka, who’s also President and CEO of Legacy International, an international sales and marketing firm of urban, active adult, luxury residential, and resort communities with a current portfolio of over $1 billion in revenue. “Our new St. Elmo property will build on our assets in Austin’s South, Northeast, East and Western corridors.”
“Through product charrettes our development and design teams have gone to great lengths to capture the industrial revitalization of the St. Elmo area,” states Legacy DCS President and CEO, Cass Brewer. “We’ve brought in reclaimed materials, weathered brick and metal accents into the interior and exterior building design to create an authentic mixed-use community resembling a modernized warehouse from the early 1900s.”
The formerly industrial St. Elmo District, south of Austin’s city center area, has started to pique the interest of developers, tenants and shoppers alike. The mostly industrial area five years ago has morphed into a conveniently walkable, up and coming shopping, dining and entertainment district with some 1.4 million square feet of residential and commercial real estate either proposed or under construction.
Most of St. Elmo’s commercial space delivered to this point is better known as The Yard, a renovation and conversion of existing warehouses into retail and “maker” spaces (local breweries, creative studios and music venues) marketed to community-minded companies and social entrepreneurs. One of The
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