Capital and Land Advisors is pleased to present the North Loop Multifamily Site (“Property”), a long-held assemblage under common ownership located at 704-708 E 53rd Street, 5210 Bruning Avenue, and 5301-5303 Martin Avenue in Austin, Texas. The property consists of nine parcels and has recently been rezoned, clearing a path for a high-density, multifamily redevelopment. The Property presents a rare opportunity to develop a 1.60-acre multifamily project in Central Austin’s North Loop Neighborhood.
Drenner Group coordinated with the North Loop Neighborhood and the City of Austin staff to facilitate rezoning the Property to (CS-MUV-CO-NP) and (CS-MU-V-CO-DB90-NP) allowing for a high density, multifamily development.
Sixthriver Architects prepared a feasibility study and massing plan that includes (i) 116 multifamily units, (ii) 132 parking spaces, (iii) a 3,097 SF leasing & amenity center, and (iv) 5,070 SF commercial space.
The North Loop neighborhood offers a strategically positioned, demand-driven setting for multifamily development in central Austin. Located minutes from downtown, UT Austin, and major employment corridors, North Loop provides efficient access via I-35, Highway 290, and Lamar Boulevard, supporting strong renter appeal among young professionals, university-affiliated tenants, and medical district employees.
Advantages of the site for a mixed-use build include its infill location, visibility and connectivity to IH-35 and E Hwy 290 within East Austin, and the ability to capture both residential rental cash flow and street-level retail/restaurant activation that benefits from neighborhood foot traffic and nearby employment centers. Together, the parcel’s zoning and Austin’s continued demand for walkable, mixed-use product make the Property a compelling project for a high-quality, multifamily development.
Craig Swanson
Capital and Land Advisors