Elgin, Texas--(Newsfile Corp. - December 12, 2024) - As Austin's growth continues to reshape Central Texas, a landmark $500 million mixed-use development is set to transform the city of Elgin into a premier destination for residents and businesses. In a decisive move, the Elgin City Council has greenlit a transformative partnership with Achieve Investment Group and Epitome Development for a 242-acre master-planned community that promises to redefine suburban living in the Austin metro area.
Elgin - Gateway
The development represents one of the most significant investments in Elgin's history. It comes amid unprecedented growth in the Austin Suburbs, where housing demand continues to outpace supply and commercial space remains at a premium.
"This isn't just another development - it's a carefully crafted community that will serve as a blueprint for sustainable suburban growth," said James Kandasamy, CEO of Achieve Investment Group and Dharma Rajah's President at Epitome Development. "We're creating a live-work-play environment that honors Elgin's character while providing the modern amenities that today's residents and businesses demand."
The master plan includes:
A robust retail district featuring 200,000 square feet of shopping and dining space
150,000 square feet of industrial space designed to attract emerging technologies and manufacturing
300 luxury multifamily residences catering to young professionals and families
770 single-family homes across various price points to ensure accessibility
Dedicated spaces for essential community services, including a future public school and safety center
Strategic location plays a key role in the development's potential, with more than 1,200 feet of frontage along Highway 290 - the vital artery connecting Austin to Houston and serving the burgeoning Tesla gigafactory corridor. The site's position capitalizes on Elgin's growing reputation as an attractive alternative to Austin's core, offering more affordable options without sacrificing accessibility.
The project gained approval through a series of agreements, including:
A comprehensive development agreement outlining community benefits
The establishment of a municipal utility district to ensure infrastructure support
A wastewater services agreement to support sustainable growth
About Achieve Investment Group
Achieve Investment Group is a multifamily investment firm specializing in ground-up multifamily development and acquiring and operating value-added properties in the Austin to San Austin corridor. With a portfolio of over 3,700 apartment units and 500M assets under management, Achieve Investment Group offers passive real estate investment opportunities to generate consistent returns for investors.
Website: https://achieveinvestmentgroup.com/
About Epitome Development
Epitome works on a dozen projects, everywhere from Leander to Hutto to Elgin to Lockhart. Its investments could eventually span several thousand acres, total between $2 billion and $3 billion, and include 6,000 single-family homes, 1.5 million square feet of industrial space, 600 multifamily units, a hotel, and more in the next several years.
Website: https://epitome.dev/
About the City of Elgin
Elgin, Texas, known as the "Sausage Capital of Texas" and the "Brick Capital of the Southwest," is a small city located about 19 miles east of Austin. With its rich cultural heritage, thriving local businesses, and a strong sense of community, Elgin offers a blend of historic charm and modern growth.
About Achieve Investment Group
Achieve Investment Group is a multifamily investment firm specializing in ground-up multifamily development and acquiring and operating value-added properties in the Austin to San Austin corridor. With a portfolio of over 3,700 apartment units and 500M assets under management, Achieve Investment Group offers passive real estate investment opportunities to generate consistent returns for investors.
Press Inquiries
Achieve Investment Group
https://achieveinvestmentgroup.com/
Alicia Dibrell
ADibrell@sapientdigital.io
7022027939
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