PEG Cos. Acquires Austin Hotel, Plans Class B Multifamily Conversion

PEG Cos. expects to complete its conversion of the Habitat Suites Austin into a Class B multifamily property this summer.

AUSTIN, TEXAS — PEG Cos., a Utah-based investment and development firm, has acquired The Habitat Suites Austin, an extended-stay hotel located at 500 E. Highland Mall Blvd. in Austin. The company plans to convert the hotel into a Class B multifamily community. PEG plans to undertake a full renovation of the property, including the addition of new amenities like a fitness center and workspaces. Completion is slated for the summer.