NRP Group Opens 330-Unit Austin Community

The mixed-income development is subject to a $47 million loan from Zions Bank.

The NRP Group, in partnership with the Housing Authority of the City of Austin, has opened The Markson, a 330-unit mixed-income community in Austin, Texas. In 2020, the development became subject to a $37 million construction loan from Zions Bank, according to Yardi Matrix data.

Comprising four four-story buildings, the property encompasses one-, two- and three-bedroom floorplans ranging from 633 to 1,492 square feet. More than half of the units are designated as workforce housing, reserved for households earning up to 80 percent of the area median income.

Selected layouts feature outdoor balconies. Common-area amenities include a pet spa, conference rooms, a coworking lounge, fitness center and a central parking garage with EV charging stations. Additionally, outdoor facilities comprise a swimming pool, outdoor kitchen, dog park and various sports courts.

Located at 5313 Vega Ave., The Markson is 9 miles from downtown Austin and roughly 13 miles from the Austin-Bergstrom International Airport. It is also some 3 miles from the South Town Square shopping mall.

Expanding Austin’s affordable pipeline

The Markson is one of the eight projects for which the NRP Group partnered with HACA, together comprising more than 2,300 units across Austin. Currently, there are more than 210 properties under construction in Austin for a total of more than 60,000 units. Of the total pipeline, some 15.6 percent are taking shape in fully affordable developments, while another 18.8 percent are within mixed-income communities.

Recently, the NRP Group opened a 368-unit mixed-income property in central Texas, in the city of Killeen. The 22-acre community, more than half of which is designated as workforce housing, benefits from J.P. Morgan equity investments.

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