Intracorp Secured $173 Million Loan for South Congress
The 265-unit condo project at 2121 South Congress Avenue is slated for completion in 2029.
Updated on Oct. 9, 2026 in Construction
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Future residents of South Congress will soon see a new seven-story development as developer Intracorp has secured a $173 million construction loan for the project. The building will bring 265 residential units to the busy corridor, with nearly half of those homes already presold.
Why it matters
The development represents a significant addition of housing and commercial space to one of Austin's most high-profile streets. With presales underway, the project signals ongoing investor confidence in the local market for dense, amenity-rich urban living.
Intracorp secured a $173 million construction loan to fund a 265-unit project that already has 45% of its residences presold. The development will feature 30,000 square feet of amenities alongside 22,000 square feet of retail space.
The players
Intracorp
The real estate development firm managing the construction of the Leland South Congress project.
BGO
The financial entity that provided the $173 million construction loan for the development.
Andres Construction
The firm serving as the general contractor for the building project.
Kirksey
The lead architecture firm responsible for the design of the seven-story structure.
Douglas Elliman Development Marketing
The agency currently managing the presales process for the residences.
The details
The Leland South Congress project, designed by architect Kirksey, will span seven stories and include 6,000 square feet of outdoor dining space. Andres Construction will serve as the general contractor for the site, which sits at 2121 South Congress Avenue. Douglas Elliman Development Marketing is currently managing the ongoing presales process for the units.
Timeline
2018: Intracorp opened an office in Austin.
2023: Intracorp filed initial permits for the project.
2029: Construction is expected to finish.
The Texas Context
This development continues the trend of high-rise residential construction in Austin established by the completion of the 44 East Avenue tower. It marks a shift toward intensified density along the South Congress corridor as the firm builds upon its portfolio in the region.
Residents and commuters on South Congress Avenue should prepare for construction activity to commence as the project moves from permitting toward its 2029 completion goal. Locals can expect to see 22,000 square feet of new retail and restaurant options open upon the building's finished delivery.
The takeaway
The addition of 265 units to the South Congress corridor marks a significant change in the neighborhood's density profile. Monitor local permitting filings for upcoming traffic management plans related to the heavy construction at the 2121 South Congress site.
Further reading
Find more updates on the city's changing streetscape in our Construction section.
Source note: This article includes information reported by The Real Deal New York.
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