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AUSTIN, TEXAS — Locally based developer Lincoln Ventures has acquired land in East Austin for the development of a 625-unit multifamily project. The six-story property at 2700 E. Fifth St. will house a mix of one-, two- and three-bedroom units, with 10 percent of the residences reserved as affordable housing. The development will also include retail space that is preleased to a café and an urban grocer. The amenity package will consist of two pools, a fitness center with yoga and spin studios, coworking space, a pet park and spa and a catering kitchen. Construction is slated to begin in the second half of the year and to be complete in summer 2024.