Greystar AMLI Annc Release2

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Greystar AMLI Annc Release2
FOR IMMEDIATE RELEASE
Media Contact:
Brian Dolezal, Hahn Public Communications for Catellus
(512) 344-2035 or 619-6742
[email protected]
519 MORE APARTMENT UNITS SCHEDULED FOR ARRIVAL AT MUELLER
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AMLI Residential, Greystar to Develop Multifamily Communities
Adjacent to Aldrich Street in Mueller’s Town Center
AMLI Details:
• 318 units on four floors
• 48 units reserved for Mueller’s Affordable Homes Program
• Groundbreaking anticipated Q4 2015 and scheduled to open Q1 2017
Greystar Details:
• 201 units for active adults (age 55+) on four floors
• 30 units reserved for Mueller’s Affordable Homes Program
• Groundbreaking anticipated Q4 2015 and scheduled to open Q4 2016
AUSTIN, Texas – Sept. 1, 2015 – Two of Austin’s most respected multifamily developers, AMLI
Residential and Greystar, will begin construction later this fall on two new apartment communities
within walking distance of Mueller’s burgeoning Aldrich Street town center. AMLI will construct
318 units while Greystar will build 201 units for active adults (age 55+), both in four story building
configurations. These 519 units will bring the total number of apartments at Mueller to nearly 1,740.
AMLI will build two, four-story buildings near
Aldrich Street and Barbara Jordan Boulevard
that will include a mix of studio, one-bedroom,
two-bedroom and three-bedroom units, many
of which will feature unobstructed views of
Mueller and the Austin downtown skyline. The
average unit size is 100 square feet larger than
the existing AMLI at Mueller units, which will
provide a diverse offering of AMLI
apartments available at Mueller.
A rendering of AMLI’s new Mueller apartments, courtesy Page Architects
The new AMLI community is designed by Page, the same architects who designed AMLI’s first
project at Mueller. The amenities will include a dynamic fitness center, a convenient business center,
a resort-style pool, a cabana with an outdoor kitchen, two lush courtyards and a skydeck with
incredible views of the Austin skyline. Like AMLI at Mueller, this community will be LEEDregistered targeting a Gold certification. The first move-ins are scheduled for the first quarter of 2017.
“AMLI is excited to be developing a second apartment community within Mueller. The nearby Aldrich
Street will include shops, restaurants, nightlife and cultural activities that will all be very attractive to
our residents,” said Taylor Bowen, EVP of AMLI. “Our first community has proven to be very
successful, which is a testament to the need for housing and a strong desire to live in a community like
Mueller. We believe Mueller attracts potential residents who desire to live a healthier lifestyle in a
LEED certified community.”
Greystar’s development, called “Overture,” will be located at Berkman Drive and Barbara Jordan
Boulevard. The community will be designed specifically for active adults of at least 55 years of age.
New residents are anticipated to move in by the fourth quarter of 2016. Overture’s features will
include a pool/spa, community gardens, sports lawn, yoga/wellness room, fitness studio, private dining
room, display kitchen for cooking classes, game room/lounge and media room, for social meeting
areas. Approximately 2,000 square feet of first-floor retail is also planned.
“Mueller’s extensive amenities, as well as its
proximity to the Austin city center, makes it
an ideal setting to establish a well-appointed
rental community that serves the active
lifestyles of those 55 or better,” said Derek
Brown, Managing Director of Development
for Greystar. “There are and will be a
number of walkable retail and entertainment
options within minutes of the site, including
Lake Park and the upcoming Alamo
A rendering of Greystar’s new Mueller apartments, courtesy Meeks + Partners
Drafthouse.”
Both apartment communities will reserve 15 percent of the units in the Mueller Affordable Homes
Program for households earning 60 percent or less of Austin’s median family income. Both parking
garages allow for appealing four-sided architecture. AMLI developed and manages AMLI at Mueller;
Greystar manages the Mosaic at Mueller apartments.
“AMLI and Greystar are two of the most admired multi-family developers in the country and we’re
pleased to have both of them expand the residential offering at Mueller,” said Greg Weaver, executive
vice president of Catellus Development Corp, the master developer of Mueller. “These 500-plus
residential units help make Aldrich Street the most diverse and dense part of this compact and vibrant
Mueller community.”
Currently, an estimated 4,800 people work at Mueller and another 5,000 people now call Mueller
home among more than 2,280 residences, including 1,220 apartment units.
About Mueller: Mueller is one of the nation’s most notable new-urbanist communities located in the
heart of Austin. The 700-acre site of Austin’s former airport is being transformed into a diverse,
sustainable, compatible, revitalizing and fiscally responsible master-planned community. Mueller is
taking shape as a joint project between the City of Austin Economic Development department and
Catellus Development over 10-15 years following nearly 20 years of extensive citizen input. Upon
completion, Mueller will feature at least 5,900 single-family and multi-family homes, a mixed-use
town center district known as Aldrich Street, 4.4 million square feet of prime commercial space,
including 750,000 square feet of local and regional retail space, 140 acres of parks and open space,
plus Dell Children’s Medical Center, the Austin Film Studios, The Thinkery, H-E-B and the Austin
ISD Performing Arts Center. For more information, visit www.MuellerAustin.com, find us on
Facebook at www.Facebook.com/MuellerAustin and follow us on Twitter @MuellerAustin.
About AMLI Residential
AMLI Residential, a preeminent multifamily firm headquartered in Chicago, focuses on the
development, construction and management of luxury apartment communities throughout the country.
Founded in 1980, AMLI is owned by Prime Property Fund, a core commingled institutional fund.
AMLI currently owns and manages 58 apartment communities including over 19,600 apartment homes
and has over 6,400 additional apartment homes under development in 19 locations. Eight AMLI
communities are located in Austin comprising over 2,000 apartments. More information is available at
www.AMLI.com.
About Greystar: Greystar is a leading, fully integrated real estate company offering expertise in
investment management, development, and property management of rental housing properties globally.
Headquartered in Charleston, South Carolina with offices in the United States, United Kingdom,
Mexico, and the Netherlands, Greystar is the largest operator of apartments in the United States,
managing approximately 400,000 units in over 145 markets globally. Greystar also has a robust
institutional investment management platform with over $10.0 billion in assets under management
including $3.4 billion of developments underway. Greystar was founded by Bob Faith in 1993 with the
intent to become a provider of world class service in the rental residential real estate business. To learn
more about Greystar, visit www.greystar.com.
About Catellus: Catellus is a national leader in mixed-use development, solving some of America’s
most complex land challenges. With nearly 30 years of experience as a master developer, Catellus has
transformed former airports, military bases and urban industrial sites into thriving retail, residential
and commercial communities. These projects, which often include substantial public amenities, add
economic, social and environmental value to the communities they serve. Catellus has both the
financial strength and development expertise to turn vision into reality at even the most demanding
development sites. For more information, visit www.catellus.com.
About the City of Austin, Economic Development Department – Redevelopment: The City’s
Economic Development Department, formed in 2002, has led redevelopment, small business
development, business recruitment, international economic development, and the cultural arts, music,
and film programs for the City. With a focus on regenerating key assets of the city, Economic
Development has implemented catalyst redevelopment projects, including the Seaholm District,
Second Street Retail District, and the Mueller Redevelopment, an award-winning national model for
responsible urban planning and development. Visit www.austintexas.gov/ecodev.
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