“It’s a very vice subdivision that backs up to the park and they have access to all of the hike and bike trails,” Reger said.

Reger said the EastVillage development will feature a Village Green area to host community events and weekend entertainment. Furthermore he envisions more than 5,000 people working from the development’s office space and small, specialty retailers attracting a variety of customers to the area.

“The whole northeast section of Austin doesn’t have a place to go that has everything there,” Reger said. “[EastVillage] is truly a place where you can live, work and play.”

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New York-based Reger Holdings LLC is moving forward with The Hotel Austin at EastVillage, with groundbreaking planned for the second quarter. The hotel could be delivered by the fourth quarter of 2023. The hotel will include a full-service restaurant and banquet facilities.

Paperwork filed with the state of Texas showed the 151,780-square-foot hotel at 3500 E. Parmer Lane, near Samsung’s longstanding Austin factory, will also have a bar and swimming pool.

Details provided by Reger Holdings on The Hotel Austin represent the next phase of a development that has been in the headlines since 2019. Construction started in June, and a first phase of retail spaces could deliver in early 2023. Around the same time as the groundbreaking, Reger obtained $278.5 million in construction financing from Madison Realty Capital LP for parts of EastVillage as well as a separate downtown tower.

Reger Holdings Chairman and CEO Gordon Regerconfirmed Feb. 2 the first phase of multifamily housing at EastVillage, around 300 units, could deliver later this year. Another 422 multifamily units are expected to be delivered throughout 2023.

Of course, much more is planned for the $1 billion mixed-use project. At 425 acres EastVillage is larger than The Domain, which sits on about 300 acres. Previously, Reger Holdings indicated that, at full buildout in 2030, EastVillage could have 2,000 multifamily units, 466 single-family homes, around 223,000 square feet of retail space, 810,000 square feet of office space, multiple hotels and restaurants as well as parkland.

But now the company is pursuing even bigger plans.

“We’re expecting to increase the density,” Gordon Regersaid. “We’re in discussion with the city to increase the multifamily units.”

That increased density could mean 2,500 multifamily units and an office campus of 1.5 million square feet.

Gensler is listed on the Texas Department of Licensing and Regulation site as the design firm of record.

Reger Holdings’ filing with the state agency also estimated the hotel would cost $45 million to build. TDLR filings, however, are often preliminary and do not always reflect final costs. Reger Holdings did not reveal or confirm the project’s budget.

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The project is located at 3500 E Parmer Lane, across from Samsung’s Austin Semiconductorcomplex, in northeast Austin’s Tech Ridge corridor.

Jim Cicchini with Reger Holdings LLC, out of West Seneca, New York, is proposing to construct The Hotel Austin at EastVillage, according to the report filed Jan. 19 with the Texas Department of Licensing & Regulation.

The scope of work for the 151,780 square foot hotel involves construction of a ballroom, swimming pool, restaurant and bar at an estimated cost of $45 million.

Construction on the hotel is expected to begin on May 1 and be completed by Feb 1., 2024.

The hotel is part of an overall project named EastVillage, which is a 425-acre mixed-use urban center that will consist of urban density, expansive parkland, single and multi-family residential options, restaurant, entertainment and retail venues. 

The full build out of the project is expected to be completed sometime during the 2028 to 2030 time frame.

The Austin office of Gensler is on board the project as the design firm.

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• Classic Collection – featuring 13 floor plans from 1,491-3,475 sq. ft. View collection at https://www.kbhome.com/new-homes-austin/eastvillage-classic-collection

• Heritage Collection – featuring 14 floor plans from 1,360-2,898 sq. ft. View collection at https://www.kbhome.com/new-homes-austin/eastvillage-heritage-collection

Stop by the model, or contact the sales team at 512-766-1600 to learn more.

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Space: 425 acres

Timeline: completion by 2030

To read the story in its entirety, Click Here.

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“People love to come here and I think they love to live here because of the culture,” said Carlos Hernandez. He has lived in his north Austin neighborhood for 24 years.

Hernandez remembers when the Domain was first built, one of the first massive mixed-use developments, adding restaurants, housing and shopping nearby.

“The Domain is really convenient,” Hernandez said.RELATED: Big growth in Austin is coming soon, report says 

Now he’s seeing even more growth and developments similar to the Domain.

“I think it just gives people opportunity,” Hernandez said.

Just down the road, construction is underway for a development that will bring more people and business to the area. It’s called EastVillage, and it’s located on East Parmer Lane.

“I just think it is a dynamite area moving forward,” said Gordon Reger, the developer of the property.

Samsung and other tech companies have already made a home near the more than $1 billion, 425-acre mixed-use development.

“2,500 multi-family, 466 single-family, three hotels about 375,000 square feet of restaurant and retail,” Reger said.

EastVillage details:

• 2,500 multi-family units
• 466 single-family units by KB Home
• Active-adult communities
• 223,000 square feet of retail space
• 96,000 square feet of restaurant space
• 810,000 square feet of office space
• 3 hotels with 390 keys
• 37,000 square-foot grocery store
• 38,000 square-foot movie theater
• 150-acre park with five miles of trails

Reger expects the development to create about 5,000 jobs. He says there will also be plenty of green space associated with the project.

“We have a 150-acre park with five miles of hike and bike trail,” Reger said.

Reger expects the project to be done in about seven years. He says they are also working on another development in Cedar Park that would also cost about $1 billion. No details have been released on that property yet.

To view video of the news story, Click Here.

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Madison Realty Capital announced that it has provided a $278.5 million construction loan for the four properties to the developer, Reger Holdings, a real estate investment and development company based in West Seneca, N.Y.

Madison Realty Capital is a real estate private equity firm based in New York, with regional offices in major markets including Los Angeles and Dallas.

One of the four properties is a 28-story condominium in downtown Austin known as the Linden Residences, which is due to break ground soon at 313 W. 17th Street. The tower is will have 117 condominiums, along with ground-floor retail and 251 parking spaces. Reger said the units have been “substantially sold” but did not provide a number.

The Linden will replace the William Gammon Insurance building on Guadalupe Street, and is expected to take more than two years to complete.

The other properties are in the planned 425-acre mixed-use project known as EastVillage. Two are apartment complexes that will have a total of 734 units, and the other property consists of 317 acres where 1,264 additional housing units are planned.

Initial work has been going on at EastVillage for more than six months. The first phase  is due to break ground this month and is expected to be completed in about 18 months.

The second phase for EastVillage is expected to break ground in the next six months and take just under two years to complete.

Reger Holdings, which is developing EastVillage and the Linden, contributed significant cash equity towards the construction of the projects, Madison Realty Capital officials said in a news release. Madison officials declined to comment beyond the press release.

When built out in phases over time, the mixed-use EastVillage development eventually could be a $1 billion-plus project, Reger has said. The project is planned for office space, housing, hotels, restaurants, retail, a grocery store and a movie theater, along with pedestrian paths, an amphitheater and hike and bike trails.

Josh Zegen, managing principal and co-founder of Madison Realty Capital, said the construction loan highlights Madison’s ability “to serve as a single source financing provider to a highly reputable borrower.”

“Austin is a rapidly growing, vibrant city experiencing exceptional economic growth but faces high barriers to entry,” Zegen said in a news release. “The Parmer Lane tech corridor is home to some of the most prominent Austin employers and some of the nation’s most innovative companies,” he said, including Apple, Samsung and 3M.

Madison’s financing for the EastVillage and Linden projects is a milestone for both developments, Reger CEO Gordon Reger said.

“We are pleased to work with a single capital source that has the flexibility to finance these diverse projects,” Reger said.

The mixed-use residences planned for EastVillage encompass two development sites across 29 acres within the larger project, which will span more than 400 acres in all.

The first EastVillage project will have 312 luxury apartment units in six buildings, with amenities that include a fitness center, courtyard, dog grooming station and swimming pool.

The second EastVillage development will bring an additional 422 apartments with one-, two- and three-bedroom units, with high-end finishes and a game room, yoga studio, and 143,000 square feet of commercial space.

Future phases of development for EastVillage will include 317 acres of land that have been approved for 1,264 multifamily units, 240 hotel rooms and more than one million square feet of commercial space.

EastVillage will be built next to Samsung’s Semiconductor chipmaking plant.

Samsung, one of Austin’s largest employers, recently announced plans to expand with a $17 billion chipmaking facility, although the company has not yet announced a site for the planned expansion.

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The financing is for The Linden, a condominium high-rise planned at 313 W. 17th St., and various elements within EastVillage, an ambitious mixed-use development planned for East Parmer Lane.

To read the entire article, Click Here.

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The financing was provided to Reger Holdings, a New York-based, real estate investment and development company led by CEO Gordon Reger. The firm contributed significant cash equity in the deal. 

Austin has been a beneficiary of increased investment both pre- and post-COVID. Now a perennial investor favorite, the city is experiencing explosive growth, supported by a diverse economy and growing tech employment from such heavyweights as Apple, Facebook and Oracle.

The portfolio comprises the EastVillage, a 425-acre, master-planned residential community in the heart of Austin’s northeast tech corridor, and The Linden Residences, a 28-story condominium building in Downtown Austin.

To read the entire article, Click Here.

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EastVillage will be located on Parmer Lane across from Austin’s Samsung plant. The development’s website calls it an “anchor to the Tech Ridge corridor,” which also includes Dell, General Motors, 3M and other tech start-ups.

The $1 billion project will have more than 2,000 single and multi-family homes, three hotels, 37,000 square feet of grocery space, a 38,000-square-foot movie theater, a 1.4-acre “village green,” a 150-acre naturally wooded preserve and more. 

To view the entire segment, Click Here.

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