AUSTIN, TX – Rastegar Property Company, a technology-based private real estate investment firm focused on value creation and development across all asset classes in Austin and the US Southwest, today announced the acquisition of 5412 South Congress Avenue in Austin. The property sits on nearly 1 acre and is the third and final property in the Company's South Congress Convention, which includes 5402 South Congress and 106 Red Bird Lane. The three properties cover the two hard corners of Mockingbird Lane and Red Bird Lane with the South Congress facade.
The company is located in a thriving area of South Austin. The company's redevelopment plans for the trio of properties, spanning nearly three acres of land, will include a mix of high quality apartment and condominium projects in the area. The planned multi-family development will transform the area and offer an iconic building with a walk-in environment that further connects this area of the South Congress with the very lively section to the north.
"After closing the first lot at 5402 South Congress, we had the vision to put this entire lot together and we're excited to see it come to fruition," said Ari Rastegar, Founder and CEO of Rastegar Property Company. “As Downtown Austin grows bigger and more popular, this mix of properties will feature multi-family units in an extremely attractive central location on one of Austin's most famous streets, ensuring that it is one of the most sought-after areas of the city. "
"As we advance our planned development for the South Congress, we remain committed and focused on improving the quality of life in South Austin and providing great housing for our growing population," said Hunter Floyd, director of design and development for Rastegar. “We understand and recognize the importance of quality of life, especially after COVID. For these reasons, this project will focus on wellness, including air quality and outdoor amenities, as well as rooms within units that create office niches for residents who work from home. "
The apartments offer a range of amenities that are particularly appealing to wellbeing during and after COVID, including outdoor access and public areas that allow better air circulation and more opportunities for social distancing. In addition, Rastegar is familiar with the use of new materials, including special lights with ultraviolet light and antimicrobial materials such as copper.
Source: Rastegar Property Company