Rastegar Plans Apartments and Retail Space in South Austin
Rastegar Capital plans to transform a former used-car lot at 5412 S. Congress Ave. into a mixed-use development featuring 260 apartments and 6,000 square feet of retail space, contributing to the increasing density in South Austin's rapidly evolving corridor.
Originally Published in Austin Business Journal
Published on: Feb 5, 2024
Potential project would add to a quickly-developing pocket of town
This former used-car lot on South Congress could be transformed by Rastegar Property Co. into a new multifamily property with a retail component.
By Cody Baird – Staff Writer, Austin Business Journal
Feb 5, 2024
South Austin could be in line for a lot more density, stemming from a potential mixed-use development at the site of a former used-car lot.
Rastegar Property Co. is planning a mixed-use project at 5412 S. Congress Ave., according to site plans filed with the city. The development would replace a neighboring single-family home and an adjacent vacant lot.
Rastegar didn’t immediately respond to requests for comment. The developer has made a name for itself through a variety of projects across the region, and CEO Ari Rastegar has said he has thousands of acres under contract around Austin.
The South Congress project, on a 3-acre tract just north of the South Congress and Stassney Lane intersection, could result in 260 apartments and a 6,000-square-foot retail space. The dimensions of the development weren’t available, but it is described in the site plan application as a mid-rise residential apartment building.
Two buildings would be demolished prior to construction — the former used-car lot built in 1952 and a single-family home constructed in 1937, according to the Travis Central Appraisal District.
Kimley-Horn is the project engineer.
Rastegar’s multifamily project would rise in a rapidly re-developing pocket of the city. To the north, the St. Elmo District is seeing change in the form of new developments as well as restorations of existing properties. To the south, plans are in the works to redevelop the Easton Hills apartment complex into a denser mixed-use project with apartments, retail and office space. And there’s potential for more, with a future extension of Capital Metro’s Project Connect light potentially stretching down to Stassney Lane, in front of Rastegar’s development.
Rastegar has a number of projects underway in the region. The developer broke ground on its 318-acre Inf1nity Estates residential community in Kyle in March, and its also behind Del Valle’s Inf1nity Park, a 600,000-square-foot industrial project.
https://www.bizjournals.com/austin/news/2024/02/05/south-congress-density-multifamily-austin.html