Ari Rastegar plots $63M apartments in oversupplied market
This 450,000-square-foot project is part of Rastegar's broader $1.5 billion portfolio across Texas and Arizona, which includes a master-planned community in Kyle and an industrial complex near Tesla's Gigafactory.
Originally Published in The Real Deal
Published on: February 12, 2025
The Peter Pan of Austin real estate has plans to start construction on a mixed-use development in Austin.
Millionaire biohacker Ari Rastegar, who in 2021 claimed to have the “biological age” of a child, filed plans with the state for a $63 million project at 5412 South Congress Avenue called “Infinity Living.” Austin-based architect Corgan is designing the project.
Rastegar is planning to start construction in June and complete the project by the end of 2026. Rastegar filed site plans for the project with the city of Austin more than a year ago, Urbanize Austin reported. He finished purchasing the nearly 3-acre plot for the project in 2020.
The 450,000-square-foot mixed-use development will feature 289 multifamily units as well as retail and a parking garage, according to the state filing. The estimated cost works out to $218,000 per residential unit.
