Alliance Residential Breaks Ground, Delivers Apartments
- Jul 10, 2019
Robust demographic growth in Austin, Texas, maintains elevated demand for multifamily apartments, with new developments breaking ground or advertising completion. Alliance Residential Co. of Phoenix, Ariz., has announced both, the groundbreaking of a new 275-unit property, as well as the delivery of a 352-unit community.
The company recently broke ground on Broadstone Riverside, a three-building property located on more than 7 acres at 1900 Airport Commerce Drive. Estimated delivery is slated for 2021. Its location places it near the Oracle campus, which is anticipated to house 10,000 software industry employees once completed. Amenities at Broadstone Riverside will include a fitness center, a clubhouse, a playground, two swimming pools and 353 parking spaces.
Alliance Residential completed the 352-unit Broadstone Burnet, a two-building community spread across nearly 6 acres at 10301 Burnet Road. The property is adjacent to The Domain and close to the offices of IBM, Indeed, VRBO, Facebook, Amazon and Expedia. According to Yardi Matrix, a $37 million construction loan was funded by U.S. Bank.
The unit mix at Broadstone Burnet includes one- and two-bedroom floorplans ranging from 580 to 1,276 square feet, which feature private balconies/patios, outside storage, high ceilings and washers and dryers. Common-area amenities include a fitness center, a business center, a clubhouse, a swimming pool and 620 parking spaces.