Bluestone Properties Buys Austin Apartments

The purchase of The Ethos reflects the firm's strategy of pursuing stabilized, high-quality assets in high-growth secondary markets.
The Ethos. Image courtesy of Bluestone Properties

Multifamily owner and manager Bluestone Properties has acquired The Ethos, a garden-style apartment community in Austin, Texas. The acquisition of The Ethos, a four-year-old, five-story community at 8001 South I-35, reflects Bluestone Properties’ business model of pursuing stabilized, high-quality assets in high-growth secondary markets.

The Ethos offers 372 apartments in a blend of one-, two- and three-bedroom floorplans. Units range in size from 625 square feet for the smallest one-bedroom to 1,375 for the three-bedroom residence. Apartment features and finishes include 9-foot ceilings, dark wood cabinetry, island kitchens, double vanities and in-unit washers and dryers. A unique feature of the community is a selection of apartments with private enclosed yards. A private 5-acre park complete with walking trails tops the property’s amenity list.

Town and country

The Ethos residents benefit from a location close to the city, yet in the country-like setting of the Bluff Springs neighborhood, a one-time farm community that retains it’s open feel.

The apartment community’s proximity to I-35 enables quick, easy commutes to downtown Austin. But its location in the hilltops outside the city provides serenity and abundant green space for jogging, walking or hiking. Among nearby parks and natural areas is Goat Cave Nature Preserve, Onion Creek Greenbelt Park, Blunn Creek Nature Preserve, McKinney Falls State Park and Bauerle Ranch Park at Slaughter Creek, all within a 15-minute drive.

Austin Community College and St. Edward’s University are both between four and five miles of The Ethos. North Bluff Plaza and Century South Shopping Center are situated from 1.1 to 1.5 miles from the apartment community. Earlier this month, Allied Orion broke ground on a community in an Austin suburb