The community blends modern luxury with a central location to create an unparalleled living experience.
AUSTIN, TX / ACCESSWIRE / December 3, 2024 / Parallel, an Austin-based real estate development firm, has announced the successful land closing for its latest project, a 671-bed community located at 2413 14th Street in Lubbock, Texas. Ideally situated steps away from campus, less than a mile from Jones AT&T Stadium, and adjacent to the lively Broadway Street/University Avenue district, the development will deliver a world-class purpose-built housing option for students attending Texas Tech University.
Targeting completion in Fall 2027, utility work will commence promptly, and groundbreaking is slated for Spring 2025. The project will offer a diverse mix of unit types, ranging from studios to five-bedroom apartments, featuring a variety of walk-ups and townhomes. The property will provide a full-service smart market, an influencer room, a dedicated indoor bike room, and a courtyard pool. Residents will also enjoy access to a modern fitness and wellness center. Multi-level lounges featuring conference rooms and private study pods are thoughtfully designed to support academic success. The sky lounge deck offers residents and the community a space to gather and enjoy views of campus.
"We are thrilled to be moving forward with all our partners on this development. We would particularly like to thank Kayne Anderson Real Estate Co. for their commitment to executing this fantastic opportunity with us," says David Pierce, Principal of Parallel.
The project's development team includes BOKA Powell, A Royal Interiors, Parkhill, VP Consulting Engineers, RLG Consulting Engineers, and Teinert Construction serving as the General Contractor.
For additional information please visit https://www.parallel-co.com/2413-14th-lubbock.
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About Parallel
Parallel is an Austin-based real estate development firm specializing in delivering complex mid-rise and high-rise urban infill multifamily and student housing developments on time and on budget in some of the nation's most competitive markets. To learn more, visit https://www.parallel-co.com/.
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About Kayne Anderson Real Estate
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $16.6 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $36.4 billion alternative investment management firm with more than 40 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit https://www.kayneanderson.com/real-estate/. (As of September 2024)
Contact Information
Katie-Claire Highsmith
Marketing and Operations Manager
khighsmith@parallel-co.com
(737) 279-7628
Source: Parallel
View the original press release on accesswire.com
