JLL Secured Financing for 338-unit Lirica East Austin in Central Austin

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Lirica East Austin
Located at 5211 E. 7th St., the property is positioned just three miles east of downtown Austin. The site resides in an Opportunity Zone and sits at the interchange of E. Cesar Chavez Street, E. 5th Street and US Highway 183, providing direct access to prominent east/west and north/south thoroughfares. The property’s ideal location is also a short drive from Austin-Bergstrom International Airport and Oracle’s HQ Campus and is within walking distance to multiple trail and public transit networks, dining, retail and entertainment.

JLL Capital Markets announced that it has arranged the construction financing for Lirica East Austin, a unique, five-story, 338-unit, Class A multi-housing development located in Central East Austin.

JLL worked on behalf of the borrower, Central Southwest Texas Development, LLC DBA CSW Development, and the equity partner, Blueprint Local, to secure the loan.

With an anticipated completion of Q1 2026, the property will feature studio, one-, two- and three-bedroom units with an average size of 799 square feet. Community amenities will include a swimming pool and cabanas, a club room and deck arena, a two-story fitness center, a leasing center, a coworking space, a fifth-floor sky lounge overlooking the Austin Downtown skyline, an outdoor courtyard and a dog park area. Lirica East Austin will also offer a 496-space parking garage and a 0.25-acre pocket park.

“Our team has worked diligently to secure permits necessary to start construction, so we are excited to be able to break ground at a time where high-quality construction trades are readily available due to the challenging capital market environment,” said Kevin Hunter, CFO and COO of CSW Development. “With a considerable amount of growth happening in East Austin, from Tesla’s headquarters, numerous new local food and entrainment venues, major roadway improvements and the Austin airport expansion, we see the housing demand only increasing in this area as development activity progresses.”

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Doug Opalka, Senior Director CW Sheehan and Associates Scott Dickey and Samantha Jay.