OHT Partners was recently greenlit by the Austin City Council for a zoning change to build a 435-unit apartment complex on the site of a former Austin school. The site under consideration is where the shuttered Rosedale Elementary is located.
The Austin Business Journal reports that currently, the property is owned by the school district. The district plans to sell the site to OHT Partners for $26 million.
While some in the immidiate area opposed the project, Austin city staff recommended the zoning change be approved because it would allow for more housing near the urban core, close to public transit corridors and planned Austin light rail stations, which has been a city priority.
On its website, OHT Partners says it develops luxury multifamily communities at premium locations in high-growth areas of Austin, Dallas-Fort Worth, Houston and San Antonio.
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