The Lola

The Lola is the multifamily component of Turnbridge’s strategy to convert what was originally the State House apartments into a vibrant, 9.5-acre mixed-use project.  The Property is prominently situated on South Congress Avenue in Austin, TX, and is a key component to Turnbridge’s broader Music Lane development, an award-winning project that has transformed Austin’s South Congress Entertainment district into the City’s premier high-street mixed-use destination, and has achieved record-breaking, top-of-market rents and values across all asset classes. Turnbridge is planning to execute a value-add renovation plan at the Lola focused on unit interiors, exteriors and common areas to achieve top of market multifamily rents.

Address
1221 South Congress Avenue
Austin, TX
Submarket
South Congress
Asset Class
Multifamily
Strategy
Land Assemblage, Placemaking
Size
244 units
219,000 square feet
Date Acquired
October 2017
Date Sold
Currently owned by Turnbridge