EastVillage, a 425-acre master-planned community located between Parmer Lane and Howard Lane in the Tech Ridge area, wrapped up construction on its first phase of 312 apartment units this summer, said Gordon Reger of Reger Holdings, the project’s developer.

The next phase of construction will include an additional 422 multifamily units as well as 140,000 square feet of retail and restaurant space and a full-service, business-class hotel. Within a year, Reger said officials hope to break ground on another 1,000 apartments and two more hotels.

“We will continue to permit and build our phases as quickly as we can,” Reger said.

The mixed-use development is estimated to be fully built out between 2027-29, Reger said. Once complete, the project will include more than 2,000 total multifamily units, almost 500 single-family homes, three hotels, 500,000 square feet of restaurant and retail space, and more than 1 million square feet of office campus. Additionally, the site plan calls for a 150-acre park and 5 miles of a paved hike and bike trail.

Reger said the 466 single-family home lots, located near Howard Lane, were sold to KB Homes, which has built five model homes and has also begun construction on dozens of units.

“It’s a very vice subdivision that backs up to the park and they have access to all of the hike and bike trails,” Reger said.

Reger said the EastVillage development will feature a Village Green area to host community events and weekend entertainment. Furthermore he envisions more than 5,000 people working from the development’s office space and small, specialty retailers attracting a variety of customers to the area.

“The whole northeast section of Austin doesn’t have a place to go that has everything there,” Reger said. “[EastVillage] is truly a place where you can live, work and play.”