Turnbridge Equities, a New York-based real estate firm, has announced plans to invest $70 million in a new multifamily development near Q2 Stadium in Austin. According to a filing with the Texas Department of Licensing and Regulation, construction is expected to begin this year.
The first phase of the project will include 450 apartments on an 8.6-acre site between 2101 and 2201 Donley Drive, based on city documents. The location is less than a mile from Q2 Stadium, which serves as the home venue for Austin FC. The overall mixed-use development will also extend across the street to properties at 2111 through 2115 Kramer Lane. These filings are preliminary and could be updated.
Last year, Turnbridge secured approval from the city of Austin to rezone the Donley Drive area for higher-density development. Four commercial buildings currently occupy the property. With new zoning rules, structures up to 491 feet tall—approximately 45 stories—are permitted on this land.
Despite these allowances, Turnbridge’s current plan calls for a wood-framed six-story apartment building with retail space on the ground floor and an adjacent seven-story precast parking garage.
A representative from Turnbridge named in official filings did not immediately respond to requests for comment.
Turnbridge purchased what is now called the Q2 Assemblage between 2019 and 2020 while Q2 Stadium was under construction. The stadium opened its doors in 2021 alongside Austin FC’s debut season.
The planned development will be about two miles from The Domain, a major residential, office, and retail hub in Northwest Austin that houses companies such as Indeed, IKEA, WeWork, and PayPal. In addition to Turnbridge’s project, Brandywine Realty Trust has announced plans for a mixed-use campus at 11501 Burnet Road after IBM vacates that site next year.
