Austin New Construction Project Turns Former Eyesore into shining example of Riverside Revitalization

While Austin's new construction market has been stifled by the economy, Herman Cardenas, developer of The Riverside Grove, has put his money where his mouth is and invested in the future of Austin and the Riverside Corridor redevelopment.

When the Riverside Corridor plan was presented to the city council in October, concerns were raised that development would destroy affordable housing in the area. Homes in the Riverside area currently sell for significantly less than the city average, according to the City of Austin's East Riverside Corridor Housing Inventory assessment.

The Riverside Grove improves the area without raising prices. Herman took advantage of the market to build with materials that would normally only be found in the $300k-$400k price range. The result – Downtown living without the downtown prices. Condominium homes at the Riverside Grove start in the $120s and several feature skyline views.

The buyers have quickly recognized the value. "Since taking over the marketing and sales in early March, we have sold almost 20% of the development. This has occurred during construction and prior to our grand opening celebration." said Krisstina Wise, principal of The GoodLife Team Real Estate brokerage.

More details on The Riverside Grove can be found at www.theriversidegrove.com.

About The Riverside Grove: The Riverside Grove offers Austin town homes with modern euro-style finish outs in a private gated community nestled among towering shade trees with fitness center, jogging trail, pool, herb garden, private park, and more; all within minutes to Downtown, Lady Bird Lake and ABIA.