PRESS ROOMNEWS RELEASE
Construction of Austin’s 308-Unit Citadel at Tech Ridge Completed Ahead of Schedule and Under Budget Amid PandemicSeptember 10, 2020
Oak Brook, Illinois – Inland National Development Company, LLC (“INDC”) and co-developer, Cambridge Development Group, Inc., today announced that construction of North Austin’s newest luxury multifamily community, Citadel at Tech Ridge, was completed in June 2020 ahead of schedule and under budget, even amid the turbulent pandemic environment. Additionally, at the end of August 2020, 62% of units had been leased and 170 units were occupied.
Citadel at Tech Ridge is located on 14.8 acres at 1127 Pearl Retreat Lane, in the heart of North Austin’s Tech Ridge. This luxury, Class A gated community consists of one-, two- and three-bedroom residences, totaling 308 units in 12 three-story stone and wood frame buildings. Each unit features an open floorplan design with in-unit washers and dryers, designer lighting, Energy Star appliances and private balconies or patios. Community amenities include a resort-style swimming pool, dog park, pet spa, electric vehicle charging stations, a clubhouse with a cybercafé, resident lounge and state-of-the-art fitness center. Citadel at Tech Ridge also benefits from close proximity to I-35, a CapMetro Park and Ride location and leading grocer, H-E-B.
“Austin’s vibrant Tech Ridge neighborhood is a highly desirable, rapidly growing location, drawing thousands of new residents annually,” said Anthony Casaccio, president and CEO of INDC. “Our teams worked tirelessly against a challenging environment to deliver Citadel at Tech Ridge to North Austin’s surging population ahead of schedule. Our leasing figures underscore the considerable interest and desire residents have to live in this upscale, luxury community.”
Citadel at Tech Ridge is located just east of the Tech Ridge Business Park and less than one mile from the 400-acre master planned Parmer Business Park, a technology and office park experiencing tremendous growth with the addition of BAE Systems’ $150 million facility. Additionally, the recently announced Tesla “Gigafactory,” is under development in Southeast Austin, approximately 11 miles south of Citadel at Tech Ridge. North Austin is also home to major employers such as Samsung, General Motors (IT Division), Dell Computer, Apple, IBM and others.
For more information on Citadel at Tech Ridge or to inquire about leasing opportunities visit: www.citadelattechridge.com.
About Inland National Development Company, LLC
Inland National Development Company, LLC (INDC) is a developer of residential, multifamily, hospitality, retail and senior housing properties. INDC is part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof (collectively “Inland”). Inland has been creating, developing and supporting real estate-related companies for more than 50 years. For more information, visit www.inlandgroup.com/indc.