Austin
Supply Influx Moderates Austin Gains
The Texas capital’s economy is strong and its population is booming, but a high volume of new supply is keeping the lid on rent growth. As of May, rents in the metro were flat compared to a 1.5 percent year-over-year national uptick.
EdR Opens 304-Bed Texas Community
The Local Downtown will cater to students attending Texas State University. The development will add nearly $300 million in assets to its owned portfolio and will deliver $100 million In third-party developments this year.
Peak Campus Expands Management Portfolio in TX and S.C.
GrandMarc Austin and GrandMarc Clemson are two student housing communities with 238 and 524 beds respectively, serving the students of University of Texas at Austin and Clemson University.
Affordable Housing Portfolio Secures $142M in Financing
Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.
Austin’s Top 10 Largest Communities Under Development
The city’s booming economy and rapid population growth have led to a surge in housing demand in recent years. Here is a list of the biggest communities under construction in the area.
The Praedium Group Invests $90M in TX, FL
“The real estate investment firm added 530 units to its multifamily portfolio by acquiring the 288-unit Fox Hill Apartments in Austin and the 242-unit Park Place at Maguire in Orlando.
Post South Lamar Phase II Finalized, Begins Leasing
The 344-unit community, located in Austin’s West End submarket, offers studio, one- and two-bedroom units averaging 734 square feet. The leasing activity has started and the property will open on June 15.
Capstone Adds 7 More to Texas Portfolio
The firm has been awarded management responsibilities for seven communities in the Texas area, rising its portfolio to roughly 38,000 units.
Tarrytown Boutique-Style Community Announces Opening Date
Located west of MoPac, in Central Austin’s Tarrytown, the property includes 27 new residential units up for lease. The community offers the unique feature of having no stairs, only elevators to and from its underground parking.
Capstone Brings New COO on Board
Tina West has more than 25 years of experience in property management and is expected to spearhead Capstone’s operations team.