Co-Living Brand QUARTERS Enters Austin Market
- Sep 20, 2019
Austin’s strong economic and demographic expansion boosted the multifamily market on extreme heights. The metro’s robust performance has caught the eye of QUARTERS, one of the largest co-living providers in the U.S. and Europe, which announced its entrance in Texas’ capital. The brand will debut with 120 beds in Downtown Austin.
The new location will be a ground-up, new construction building located at 1108 Nueces St., replacing a former commercial property built in 1957, as per PropertyShark data. The address is close to The Dell Medical Center, Google’s new Austin campus and several government buildings.
The co-living development, slated for completion in the spring of 2021, will rise five stories high with 30 units, a rooftop deck with views of the downtown skyline and the capitol dome and 6,000 square feet of retail space on the ground floor. Behind the project are developer Weaver Buildings of Austin and McKinney York Architects.
The development targets a 5-star Austin Energy Green Building Rating and Fitwel certification by utilizing Passivhaus and net-zero design techniques. Sustainability features include on-site water detention, a multi-layered rooftop garden, as well as tech integration for energy-efficient use. Moreover, Activate Architecture will integrate public art throughout the project via community engagement and an open call to local artists.
QUARTERS’ U.S. portfolio comprises seven sites across five cities, including three active sites across New York City and Chicago. The Austin expansion follows the brand’s $300 million raise announced in December 2018. Pending sites include Washington, D.C., Philadelphia and Brooklyn, all set to come online by 2020, the latest. In addition, the company targets sites in San Francisco, Los Angeles, Boston, Denver, Seattle and Miami.