KREA LLC, the property owner of a Domain-area apartment complex located at 2700 Gracy Farms Lane in Austin, has announced plans to transform The Studio Domain into a mixed-use development. This venture will include 350 multifamily units and 210 hotel rooms on the existing 3.07-acre lot. In addition, there will be approximately 20,000 square feet of ground-floor retail space.
Under the previous zoning regulations for this area, buildings were limited to a maximum height of only 60 feet. However, with updated zoning permissions under the North Burnet-Gateway plan now in place and with an applied development bonus included in their plans according to documents released by KREA LLC.
Accordingly , developers are able to increase building density on this property while also bridging together residential areas surrounding The Domain with commercial activity within it as reported by Community Impact .
