AUSTIN — Forestar Group has formed a venture with Magic Johnson’s Canyon-Johnson Urban Funds for development of a downtown multifamily community located in Austin. The project, to be called Eleven, is at the southeast corner of East 11th Street and Interstate 35.
Eleven will consist of 257 units in a four-story podium style building above a two-story parking structure.
The City of Austin in conjunction with the Austin Urban Renewal Agency has invested nearly $20 million into the East 11th Street neighborhood over many years, with the intention of jumpstarting new construction from private developers. The Eleven apartments, along with several new mixed use retail and office buildings, restoration projects and city investment will contribute to the area turning the corner into a growing district.
BGO Architects designed Eleven and the interior design is created by Leslie Fossler Interiors. Construction will begin within 30 days.
