Partners Real Estate recently finalized the sale of six acres within The Commons at Rivery to Novak Commercial Development. The site at Williams Dr. is slated to be the location of a 300-unit multifamily property, with four stories and featuring more than 45,000-sf of space devoted to retail, service, and restaurant businesses. Construction of the first phase of retail space is set to begin in the second quarter of 2023, with overall completion scheduled for 2025. This news follows a larger trend of mixed-use projects, multifamily properties, and retail developments in the Austin area. The Texas Real Estate Research Center offers more information on these topics in their Texas Quarterly Apartment Report, Texas Quarterly Commercial Report, and Austin Retail News.
