Presidium also has submitted bids to buy two assets owned by Austin ISD, including the Carruth Administration Center, 1111 W. Sixth St.
Presidium submitted one of the highest AISD bids, $35 million, for the property located near Lamar Boulevard and West Sixth Streets — one of the busiest intersections in the city. Presidium also bid $13 million for the Allan Center in East Austin, a former elementary school.
It’s unknown when AISD will make a decision on the sale of several surplus real estate assets.
In the meantime, expect to see major activity at the Edison, which for many months has been surrounded by a fence and signage. Units will range from 516-square-feet studios to 1,231-square-feet, two-bedroom units. Monthly rents likely will range from about $1,187 to $2,144.
The East Riverside Drive corridor is gaining substantial traction as an appealing area for young professionals. It’s near downtown and is close to a route to Austin-Bergstrom International Airport.Oracle Corp. is building a massive campus there, which is expected to be finished late this year or early 2018.
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