R.E. Source
AUSTIN (Austin American-Statesman) – The abandoned steel-and-concrete shell at 1603 Enfield Rd. is getting a new life.
The property that was previously called the Pleiades condo project was purchased in December by an investment group that included the children of former Austin Mayor Roy Butler.
First State Bank foreclosed on the project in 2008 after construction had halted in 2007 because of legal, financial and weather-related problems. Since then, the site has been subject to graffiti and vandalism.
Fortis Realty Services, an Austin-based development and investment company, has been brought on by the Butlers to lead the $6 million redevelopment project. Architectural services are being provided by Architecture 365, which also designed the Este and Twenty-One24 condo projects in east Austin.
When completed this fall, the building will contain 25 condos priced from the mid $100,000s to the high $300,000s.
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