One of the best aspects of real estate reporting is discovering the next successful locally-based development company. The barrier to entry in this sector is formidable in any market, but here especially.
Sabot Development Ltd., teamed with Hayes Modular Group Inc. to build what is considered the first multi-story, steel, modular apartment complex in Texas. The 175-unit asset, dubbed Cheatham Flats, is being built at 401 Guadalupe St. in San Marcos, TX, for a cost of $22 million.
Sabot Development has acquired 9.63 acres adjacent to the Lakeline Station light rail & bus hub in North Austin. The 5.63 and 4.0 acre sites are within a Planned Unit Development (PUD) that allows for dense, mixed-use development. A Transit Oriented District (TOD) overlay allows for reduced parking, due to proximity to the mass transit, and building heights up to 120’. Sabot has begun entitlement work on apartments to rise at the site.