December 16, 2021
StoryBuilt, of Austin, has a number of residential projects underway in our market. Those will be supported, along with its national multifamily and single-family development portfolio, with $1 billion real estate joint venture, which the company just announced. It’s joining forces with Swiss firm Partners Group, which also has past experience as an investor here. Seventeen projects in the pipeline will initially benefit from the fund. StoryBuilt’s Anthony Siela said in a statement, “This joint venture propels StoryBuilt forward in its goal of serving the current and future residents of the most dynamic neighborhoods and cities in the United States.” He further cited the goal of “becoming a leading national infill developer, owner, and operator of residential and mixed-use communities.” Partners Group’s Scott Egarian added, “Growth cities, such as Austin, Dallas, Denver and Seattle, are often characterized by rising populations and vibrant economies. The lack of housing in these cities, especially in the infill market close to urban cores, should underpin demand in the years ahead.” Down in Columbia City, StoryBuilt is planning 215 units in its two-building Felix development.