Turnbridge Equities, a New York-based real estate firm, is planning to invest $70 million in a new multifamily development near Austin’s Q2 Stadium. According to a filing with the Texas Department of Licensing and Regulation, construction is expected to begin this year.
The first phase of the project will bring 450 apartments to an 8.6-acre site between 2101 and 2201 Donley Drive. City documents show that the site is less than a mile from Q2 Stadium, which serves as the home venue for Austin FC. The broader mixed-use development will also cover land across the street at 2111 to 2115 Kramer Lane. These filings are preliminary and may be updated.
Last year, Turnbridge secured approval from the city of Austin to rezone the Donley Drive property for taller and denser construction. The rezoning allows for mixed-use residential buildings up to 491 feet tall, or roughly 45 stories. Currently, four commercial buildings are located on the property.
Despite having zoning permission for high-rise construction, Turnbridge’s plan calls for a six-story wood-framed apartment building with retail space on the ground floor. An adjacent seven-story precast parking garage is also included in their proposal.
A Turnbridge associate named in regulatory filings did not immediately respond to requests for comment.
Turnbridge acquired what it now calls the Q2 Assemblage between 2019 and 2020 while Q2 Stadium was under development. The stadium opened its doors in 2021 alongside Austin FC’s launch.
The planned development sits about two miles from The Domain, a major residential, office, and retail hub in Northwest Austin where companies such as Indeed, IKEA, WeWork, and PayPal have operations or leases. In addition, Brandywine Realty Trust has announced plans for a mixed-use campus at nearby 11501 Burnet Road after IBM vacates that site next year.
