SOURCE: Pearlstone Partners

April 04, 2018 11:00 ET

Manor Road corridor welcomes new condo development to the district

AUSTIN, TX--(Marketwired - April 04, 2018) - Pearlstone Partners, an Austin commercial real estate development company announces the groundbreaking of the EastGate condos at 2015 Manor Road across the street from the Salty Sow restaurant on Poquito Street.

The stylish four-story mixed-use condominium project will house 68 upscale units with various floor plans averaging 861 square feet. Most of the units will be 1-bedroom, 1-bath units and efficiencies. The remaining units will be 2-bedrooms, 2-bath units and live/work floor plans with retail/office space on the ground floor and the living quarters above. EastGate will feature modern finishes, including European cabinetry, plank flooring, stainless steel appliances, as well as a swimming pool and rooftop deck.

Pearlstone Partners, (formerly LD&C) is known for building upscale infill projects in trendy areas like Hyde Park, Burnet Road (Allandale), SoCo, the Plaza Saltillo transit district, and West Campus. EastGate comes just in time to meet the growth of the area spurred by the expansion of the University of Texas East Campus, the nearby UT Dell Medical School and popular restaurants and bars in Austin's thriving Eastside.

Robert Lee and Bill Knauss, principals of Pearlstone Partners, have discovered "the missing middle" a sweet spot in the Austin residential market, developing modern and highly functional for-sale condos at competitive price points in popular locations. "As our millennials are aging, we see eager buyers who can't afford expensive downtown condos. We are filling an under-served market of home buyers who want attainable new construction near entertainment and retail districts. After all, price and location are the greatest amenities we can provide," says Bill Knauss, president of Pearlstone Partners.

The EastGate condos will be move-in ready in the Summer of 2019 and will be marketed by Prospect Real Estate, starting in the low $200,000, with the average unit at $307,000. More information, photos, and floorplans are available at www.eastgateaustin.com.

Pearlstone Partners is a private real estate development company, whose vision is to develop high quality, socially conscious, market-sensitive commercial real estate projects in the Central Texas area. Pearlstone draws on four decades of industry knowledge and experience, its own financial portfolio and works exclusively with like-minded investors on sustainable and market competitive commercial real estate development ventures. www.pearlstonepartners.com

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