AvalonBay Communities Starts Austin Project
This 252-unit project is scheduled to reach completion in 2027.
AvalonBay Communities has broken ground on Avalon Northwest Hills, a 252-unit multifamily project in Central Austin, Texas.
This is the company’s second ground-up construction project in the city. First move-ins at Avalon Northwest Hills are scheduled for late 2027.
The podium-style property will rise between Texas State Highway Loop 1 and Loop 360 in the Northwest Hills suburban neighborhood of the city. The area is one of Austin’s most supply-constrained submarkets, with only one other groundbreaking this past decade.
The multifamily development will rise between the city’s downtown area and The Domain, allowing easy access to multiple employment centers entertainment hubs and retail options.
Amenities at Avalon Northwest Hills will include a fitness center, pool deck, resident lounge with coworking spaces and a rooftop with additional indoor and outdoor amenities.
AvalonBay Communities’ multifamily footprint in Austin spans 1,527 units across five properties, according to Yardi Matrix. Three of these properties are completed, while two other developments are currently underway. Avalon Tech Ridge, another project in the city, is expected to finish construction early next year.
Construction starts drop in Austin
Year-to-date through November, new multifamily construction activity in Austin included 32 projects, totaling 8,776 units, according to Yardi Matrix. When compared to the same time span of last year, the metro registered 12,102 units across 46 multifamily developments; there is an approximately 27.5 percent year-over-year drop in new projects breaking ground, signaling slower demand.
Recent development activity in Austin includes the completion of Azola Avery Centre, a 359-unit residential community in Round Rock, Texas. A joint venture between ZOM Living and CP Capital completed the project, part of a 1,200-acre master-planned development.
Meanwhile, Embrey Partners broke ground on The Hatchery, a 344-unit Class A luxury community. The development is being funded by Frost Bank, with the first apartments expected to reach completion in late 2027.
