Bergelectric has recently topped out at Rise Apartment Complex—a 22-story, 200-unit, Class-A apartment high-rise complex located at 8th and Nueces. The property is only a few blocks away from the most sought after restaurants, office buildings, and entertainment venues in the city.
The multi-family building is a first of its kind for local student housing developer Aspen Heights. According to Aspen Heights’ Vice President Ryan Fetgatter, “The term ‘Rise,’ embraces a two-fold objective. First, there’s the idea of a high-rise building, and second, it’s what we aspire to do—elevate the quality of life.” Aspen Heights is the first in the city of Austin to utilize the Downtown Density Bonus Program. That program allows the owner to pay into the Affordable Housing Trust Fund in exchange for more square footage than would typically be allowed to develop the site.
The building was designed by Rhode : Partners, the Austin architectural firm that has handled numerous local high-rise projects including the Seven Apartment high-rise that Bergelectric helped to complete in December of 2015.