AUSTIN, TX – Stratus Properties announced its plans and construction financing for The Saint June, a 182-unit luxury garden style multi-family development within the Amarra subdivision of the Barton Creek community. The Saint June will be built on approximately 36 acres and will be comprised of multiple buildings featuring one, two and three bedroom apartments for lease with exceptional amenities, including a resort style clubhouse, fitness center, pool and extensive green space.
William H. Armstrong III, Chairman and Chief Executive Officer, stated, Our projects within the gorgeous Barton Creek community focus on using sustainable design features, materials, and construction techniques to ensure we protect the natural setting. Similar to the recently announced Holden Hills project, The Saint June is designed to complement the hill country environment with a focus on sustainable luxury and will be another unique, high-quality property that is key to our successful strategy of developing and monetizing properties. This multi-family development project will offer apartments for lease, which will add value to our leasing segment operations in the long-term. The Saint June is the most recent addition to our growing pipeline of projects focused on sustainability, and is located minutes away from downtown Austin, offering tenants simple access to restaurants, shops and entertainment.
The project will be owned by The Saint June, L.P., a Texas limited partnership. Project financing is in place and includes a construction loan to the limited partnership in the amount of approximately $30.3 million, guaranteed by Stratus, to finance approximately 55 percent of the estimated approximately $55 million project costs. The remaining estimated project costs will be funded by equity contributed to the limited partnership by Stratus and a new unrelated private equity investor. Stratus will receive 34.13 percent of the limited partnership s equity in exchange for its contribution of the land, development costs to date and cash, and will manage the project.
Stratus expects to start project construction before the end of the second quarter of 2021, subject to receiving a final county permit. First resident go-ins are plotted for late 2022.

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AUSTIN, TX – Bell Partners, one of the nation’s leading apartment investment and management companies, has bought Lenox Springs and Lenox Meadows, two adjacent properties in Austin, Texas, comprising a combined 619 units. The properties, bought on behalf of the firm’s Fund VII investors, will be operated with the existing Bell Southpark community to make a three-phase, 949-unit multifamily community.
All three communities are adjacent to each other and are located less than 10 miles south of downtown Austin, providing convenient access to Austin’s major employment. In recent years, Austin has attracted several major technology employers, earning the moniker Silicon Hills. The area serves as an employee base for companies such as Apple, Dell, IBM and Google. In addition, Tesla is opening an assembly plant in the area that will make an estimated 5,000 jobs.
The property is within walking distance to Southpark Meadows shopping center, featuring more than 100 retailers, restaurants, and services. Additionally, the community is within a walking distance of a 344-acre public park which includes fishing access, sports fields, playground equipment and six miles of hiking trails.
“Austin is one of the fastest growing regions in the country and will likely benefit from job and migration trends for years to come. Bell owns and operates a sizable portfolio of assets in this market and is able to leverage its local knowledge to inform additional investments,” said Nickolay Bochilo, EVP of Investments at Bell Partners. “As with other Bell Fund VII investments, our plot for Bell Southpark is to make additional value by combining property operations, thus enhancing living experience for current and future residents.”
The phased community features modern, new-development amenities: Lenox Springs and Lenox Meadows were built in 2018 and 2021, respectively, and Bell Southpark was built in 2018. The property features resort-style pools, grills and fireplace features, fitness and wellness studios, and available green space.

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PARK CITY, UT – Canyons Village Management Association (CVMA) and Columbus Pacific Development (CPD) announced that construction on Canyons Village Employee Housing started. A public-private partnership between CVMA, CPD and Summit County, this first-of-its-kind venture will accommodate the growing need for employee housing within Canyons Village at Park City Mountain.
Residents will delight in a year-round, conveniently located and modern environment specifically designed for employees and their families. The Canyons Village Specially Plotted Area (SPA) is in the midst of an exciting evolution and today marks a fantastic leap forward in elevating the experience for its employees, guests and stakeholders, providing an unrivaled experience as a world-class community.
Canyons Village Employee Housing is located on 7.7 acres in the Lower Village (parcel LV6-A), adjacent to the Cabriolet lift, Canyons Village Transit Hub and holes 14 and 15 of Canyons Golf. President & CEO of CVMA, Brian Madacsi, said, “This core initiative and essential amenity will attract and retain high caliber employees for Canyons Village. It is a significant step as we continue to provide an unrivaled, world-class experience for our members and guests. We are keen to start this project with such fantastic partners.”
The project will accommodate over 1,107 employees across 789 bedrooms, seven buildings, four unit types and three distinct and flexible living arrangements. The project will accommodate single, double and triple occupancy bedrooms and an innovative 10-bedroom co-living floor plot, in addition to traditional two- to four-bedroom apartments and townhomes.
“We are thrilled to be part of the solution to one of the most critical issues facing Park City today: attainable, quality housing for local residents and employees,” stated Tony Tyler, a partner with CPD. “This project is a visionary collaboration with CVMA and Summit County and delivers a competitive advantage for Canyons Village to offer employees a place to live, work and play in Park City.”
With access to convenient transportation offerings such as the free public transit system, Canyons Village Connect and the Cabriolet lift that whisks individuals into the village center, this affordable project will be a game changer for the many employers within Canyons Village, including Park City Mountain and the numerous year-round lodging, retail and dining establishments. “Summit County is excited to partner on this innovative and necessary effort. Providing a unique opportunity such as this aligns perfectly with our goals of making an enhanced environment for employees to live and work, as well as providing simple access to public transportation. This project is instrumental in the evolution of Canyons Village and Summit County,” said Tom Fisher, Summit County Manager.

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