GENCAP BREAKS GROUND ON THE PARK AT LAKELINE APTS.

AUSTIN — Dallas-based GenCap Partners Inc. has begun construction on The Park at Lakeline, a 352-unit luxury apartment complex located near Lakeline Mall in north Austin. GenCap will provide $30 million in construction debt and equity financing for the the development through several Dutch pension funds. Genesis Capital Advisors, an affiliate of GenCap, arranged the financing. Kelly Grossman Architects is designing the project, and TPAL Construction is the general contractor. The first units and clubhouse are slated for completion in the second quarter of 2013, with final completion slated for fourth quarter 2013.