A 2.7-acre site on South First Street that was once home to a group of small shops and studios called "Slackerville" will soon be the site of a new mixed-use development with the slightly less evocative name One Oak.
The retail stores in the distinctive, rock-walled strip mall of sorts that once occupied the lot closed in 2016 following the purchase of the property by World Class Holdings, which sold it, along with two other parcels on the street, to Rastegtar Properties in 2019. Rastegar, in turn, sold the land to Intracorp, which recently released details for the planned project.
Located at 2209 South First Street, One Oak will be a four-story building with a total of 106 residences. The one- to three-bedroom condominiums will be priced from over $400,000 to upward of $1 million. Plans for the complex include eight live-work storefronts on the ground floor and 10 penthouses on the top floor. Amenities will include a courtyard with a negative-edge pool overlooking Bouldin Creek, private poolside cabanas, outdoor grills and dining areas, a lounge, a fitness and recovery center, and private coworking offices.
Intracorp is fairly new on the Austin development scene, but its first project in the area, 44 East Avenue in Downtown's Rainey Street district, has topped off and sold out of residences. The company is partnering with Frost Bank, Resmark, and Rastegar to develop the One Oak project. The lead architect is Chicago-based Pappageorge Haymes Partners, working with Austin's Urban Foundry Architecture, which also heads up interior design. Hitchcock Design Group is the landscape architect, and local company Civilitude is the civil engineer. Brandon Miller Group, also based in Austin, is in charge of sales and marketing.
Construction on One Oak will begin in 2022, with home sales starting in fall 2021 and move-ins expected in 2023.