Last Wednesday, The Austonian downtown luxury condominiums was recognized by the Austin chapter of the Urban Land Institute (ULI) at the 2012 ULI Austin Development of Distinction Awards. The Austonian won an award in the category of “New Development: Residential,” which recognizes one real estate development project completed in Austin within the last 5 years.

The ULI Development of Distinction Awards define the standard of excellence in the practice of real estate development in the Austin region, by recognizing developments that exemplify best practices in design, construction, economic viability, as well as marketing and management. This year’s inaugural Awards included two categories: Public Impact, which includes any property that is for public use; and New Development or Redevelopment, which includes commercial, residential, hotel, mixed use, retail or industrial / warehouse spaces.

The Austonian was one of five projects that received an award. Award recipients in the category of New Development or Redevelopment were Anderson Village / Alamo Village, Block 21 and KIPP Austin. The Mueller Lake Park won the Public Impact Award.