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Developers move forward on new, sustainable apartments in East Riverside

The Edison lights up more of the increasingly popular corridor

Rendering of standard looking block apartments centered around pool, courtyard, trees
Edison apartments rendering

A nine-acre, 353-unit apartment complex with a focus on sustainability is slated for the East Riverside-Oltorf neighborhood, according to a recent story in the Austin Business Journal.

Although the land for the planned multifamily project at 4711 E. Riverside Drive was purchased more than three years ago, reports ABJ, the company is just now moving forward on it.

The project will be called “Edison,” according to the report, and is touting features such as energy-efficient heating and air conditioning systems, water conservation systems, and real-time energy-usage monitoring.

ABJ also reported that the apartments, located on a forested tract measuring almost nine acres, will have nine-foot ceilings, large closets, stand-up showers, and floors that “resemble hardwood planks.” Moreover, it added, the hilly landscape should provide good views.

According to the Journal, rents for 516-square-feet studios to 1,231-square-feet, two-bedroom units will probably range from about $1,187 to $2,144.

Citing the website of developer Presidium, the Journal put total costs for the project at $71 million and reported that it is expected to be completed in the first quarter of 2019.

Austin upscale sustainable apartment project underway on East Riverside [ABJ]