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Stratus Properties Receives $56.8M Construction Loan for Multifamily Project Near UT Austin

The-Saint-George-Austin

The Saint George will also be located near The Domain, Apple's new campus and Q2 Stadium, home of the Austin FC professional soccer team.

AUSTIN, TEXAS — Locally based investment and development firm Stratus Properties (NASDAQ: STRS) has received a $56.8 million construction loan for The Saint George, a 316-unit multifamily project that will be located near the University of Texas at Austin. Comerica Bank provided the four-year loan, and an undisclosed equity partner is funding the majority of the remaining development costs. Ten percent of the units at The Saint George will be reserved as affordable housing. Amenities will include a pool, fitness center, rooftop deck and communal workspaces. Stratus expects to begin construction in the coming days and for the project to be substantially complete by mid-2024

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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