Parallel, an Austin-based real estate development firm, has successfully closed on land for its latest project, a 671-bed community located at 2413 14th Street in Lubbock, Texas. This prime location is just steps away from the Texas Tech University campus, less than a mile from Jones AT&T Stadium, and right next to the bustling Broadway Street/University Avenue district. The development aims to provide top-notch, purpose-built housing for students attending Texas Tech University.
With a target completion date set for Fall 2027, utility work will begin shortly, followed by groundbreaking in Spring 2025. The project will feature a diverse array of unit types, including studios and five-bedroom apartments, along with various walk-up and townhome options. Residents can look forward to amenities like a full-service smart market, an influencer room, an indoor bike room, and a courtyard pool. Additionally, they’ll have access to a modern fitness and wellness center. Thoughtfully designed multi-level lounges will include conference rooms and private study pods aimed at fostering academic achievement. The sky lounge deck will provide a perfect gathering space for residents and the community, showcasing stunning views of the campus.
“We are thrilled to be moving forward with all our partners on this development. We would particularly like to thank Kayne Anderson Real Estate Co. for their commitment to executing this fantastic opportunity with us,” says David Pierce, Principal of Parallel.
The development team for the project consists of BOKA Powell, A Royal Interiors, Parkhill, VP Consulting Engineers, and RLG Consulting Engineers, with Teinert Construction stepping in as the General Contractor.
