The One Oak condo development advanced on hallowed ground last week with an official groundbreaking in South Austin Friday.

The condo complex will bring 106 new residences to the 2.7-acre property at 2209 South First Street in the Bouldin Creek neighborhood — not terribly long ago the site of Slackerville, a rock-walled strip mall of sorts and home to some legendary independent local retail businesses.

Slackerville closed in 2016 , when Nate Paul's World Class Holdings bought it. World Class sold it to Rastegar Properties in 2019. Rastegar, in turn, sold the land to Intracorp but remains involved in its development.

One Oak will be a four-story building with a total of 106 one- to three-bedroom condominiums will priced from over $400,000 to upward of $1 million. Developers' plans include eight live-work storefronts on the ground floor and 10 penthouses on the top floor. It will also feature a courtyard with a negative-edge pool overlooking Bouldin Creek; private poolside cabanas, outdoor grills and dining areas; a lounge; a fitness and recovery center; and private coworking offices.

Intracorp company is partnering with Frost BankResmark, and Rastegar to develop the One Oak project. The lead architect is Chicago-based Pappageorge Haymes Partners, working with Austin's Urban Foundry Architecture, which also heads up interior design. Hitchcock Design Group is the landscape architect, and local company Civilitude is the civil engineer. Brandon Miller Group, also based in Austin, is in charge of sales and marketing.

Vancouver-based Intracorp's 44 East tower in Downtown's Rainey Street district has topped off and sold out of residences. The company is also developing residential mixed-use project Congress Lofts at St. Elmo and Conrad Austin and Conrad Residences Austin.