Aspen Heights to Redevelop Former Hospital Site in Downtown Austin into 921-Unit Multifamily Complex

AUSTIN, TEXAS — Locally based developer Aspen Heights Partners will redevelop the site of the former HealthSouth hospital in downtown Austin into a multifamily complex that will total 921 units across two towers. The site spans roughly a full city block. About 25 percent (232) of the units will be reserved as affordable housing. The development will also feature 18,000 square feet of retail and restaurant space, a 30,000-square-foot public plaza and an onsite music venue. Aspen Heights will partner with Capital A Housing and The NHP Foundation to develop and operate the affordable housing component of the project. The Austin City Council has approved the master development agreement, and the development team expects to fully complete the project by 2027.