Aug 18, 2020
Diamond Ventures, Inc. and Legacy Communities Buy East Austin Mixed Use Site
New East Austin, TX Condo, Townhome Community, Gravity ATX sells over $18M in 30 days in preconstruction sales before breaking ground Fall 2020.
The Springdale neighborhood’s new market-rate, attractively priced residences appeal to first time buyers, empty nesters and work-home environments just five minutes from Downtown Austin.
AUSTIN, Texas and TUCSON, Ariz., Aug. 12, 2020: In partnership with Diamond Ventures, Austin- based Legacy Communities is set to break ground this Fall on Gravity ATX, an attractively priced, 90 one- and two-bedroom condo, townhome community. Gravity ATX is the only such residence in up- and-coming East Austin and is proving to be the right offering to the market, with 65 percent of its pre- construction residences sold in the first 30 days.
Slated for a Fall 2021 completion, the four-acre master-planned property — just five minutes from downtown Austin (at the intersection of 51st and Springdale Rd) — will feature 10 “live/work” style condos and seven townhomes within the total residential mix (priced from the mid $200s to the high $400s), blending a contemporary urban style with relaxing comfort.
Amenities will include modern, high-end finishes, a spacious dog park and paw spa, Amazon storage lockers, walking trails, covered parking spaces, a swimming pool with tanning ledge, an outdoor fireplace and kitchen to cook al fresco, and an all-resident rooftop deck to relax and enjoy stunning views of Austin’s downtown skyline. Gravity ATX is a less-than-five-minute drive from the renowned Mueller community (a new mixed-use urban village in the heart of Austin), 10 minutes from the University of Texas’s Austin downtown campus and offers easy access via 183A and 130 to Austin’s technology employers and Austin-Bergstrom International Airport.
“After seeing East Austin’s rapid growth of luxury properties, we saw a unique opportunity to develop new market-rate attainable homes for first-time buyers, empty nesters, those looking to set up professional home offices and others tired of wasting money on high Austin rents,” commented Legacy Communities Partner, Philip Jalufka, who’s also president and CEO of Legacy International, an international sales and marketing firm of luxury, master-planned residential, resort communities with a current portfolio of over $1 billion in revenue. “We didn’t let the Covid shutdown or pandemic hinder or stall our sales and marketing efforts to interest home buyers, which has resulted in $18,172,000 in pre-construction gross sales in just 30 days — a remarkable achievement in my view.”
Legacy Communities has solid experience as an innovative real estate multi-service firm in the Austin market with such residential communities as Westside Landing Rough Hollow, The Isabella, Cooper’s Square and The Addie at Westlake. As it continues to expand its portfolio, Legacy has partnered for the first time to build Gravity ATX with Arizona-based Diamond Ventures, a leading real estate development and investment firm with residential, industrial, office, retail and build-to-suit projects in Arizona, Colorado and Texas.
About Legacy Communities
Funded by Legacy Performance Capital, Legacy Communities provides a suite of residential development services including development, design, construction and sales for active adult, luxury residential, resort and metropolitan master plan communities throughout Texas and beyond. From the original concept design to final build out, Legacy brings an unparalleled level of detail to every community. Through the joined forces of various industry-leading strategic partners, Legacy’s team discovers the story behind each community and then crafts an exceptional product to complement the community vision. With a dedication to being stewards of the land, Legacy approaches every new development as an extraordinary opportunity to change the lives of the future residents, by listening, paying attention to details and offering high quality, energy efficient, sustainable development and construction. Legacy Communities is a brand umbrella dedicated to creating an incomparable real- estate experience for homeowners and future generations. For more information about Legacy Communities visit www.legacycommunities.com or call 512.894.8330.
About Diamond Ventures Inc.
Diamond Ventures, Inc. was founded in 1988 with a singular vision of becoming one of the leading real estate development and investment companies in Arizona. Over the years, the company has achieved its vision by assembling a quality portfolio of residential, industrial, office, retail and build-to-suit projects throughout Arizona, Colorado and Texas. With offices in Tucson and Denver, Colorado, the company also invests in a variety of independent businesses and projects across the Southwest. Diamond Ventures brings these strengths to every project: a motivated, disciplined team with diverse talents; financial strength; a vast inventory of land in desirable, fast-growing residential and business corridors; and a long history of successful collaboration with city, county, state and federal governments. Diamond Ventures’ mission is to engage in high quality real estate investments and business ventures that create value for its partners and customers, with careful consideration for the community and the environment. For more information about Diamond Ventures visit www.diamondventures.com or call 520-577-0200.
Media contact: Ashley Rust 512-565-1197