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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AUSTIN, TX – StoryBuilt, an urban infill specialist developing communities in five of the fastest growing real estate markets in the country, announced that it will break ground on a $50 million housing development with funding led by Hearthstone, a leading investor in America s residential real estate market, and financing provided by Stearns Bank.
We are pleased to announce our second real estate investment with StoryBuilt, and our first StoryBuilt investment in Texas, said Mark Porath, CEO at Hearthstone. Hearthstone s initial investment was in a Seattle project in the third quarter of 2020. Porath added: The housing market in Texas remains strong, making this a solid investment opportunity. We feel confident in the financial and real estate expertise of StoryBuilt s management, and particularly in their scouting of Texas locations such as Austin.
The Hearthstone investment will go towards building a 116-home community in East Austin, called George, at 2211 E M Franklin Avenue, which will consist of 80 townhomes and 36 single family homes. The townhomes have one- and two-bedroom options with balconies, private yards, and parking. They range from 626 to 1,700 square feet. The 36 single-family homes offer a variety of two- to three-bedroom floor plans with yards and 2-car parking, and range in size from 1,468 to 1,728 square feet. The first homes are expected to be complete in the fourth quarter of this year.

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