Instead, it launched 44 East, a 50-story condo development in the Rainey Street District. Intracorp took several risks with the project: it was surrounded by similar luxury towers, located in the city’s fastest-developing neighborhood. It was also selling condos, while the vast majority of Austin’s for-sale residences were single-family homes.
The risks paid off. 44 East sold out, and Intracorp has since spread out to condominium projects, including One Oak at 2209 South 1st Street and Congress Lofts at St. Elmo at 4315 South Congress Avenue. Its latest project, Leland South Congress, is looking to ride the wave of another fast-developing Austin neighborhood and push the city’s center of gravity farther south.
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Published by: The Real Deal