Wood Partners JV Breaks Ground on Austin-Area Property
The community is located in one of Metro Austin's major job hubs.
Wood Partners and joint venture partner ParkProperty Capital have begun construction on Alta Ed Schmidt, a 336-unit apartment community located at 2001 County Road 119 in the Austin, Texas suburb of Hutto. Having broken ground a few days ago, the development is scheduled for completion in the third quarter of next year.
Upon completion, the community will be sectioned into 10 three-story buildings. The apartments’ features and finishes will include 42-inch shaker-style cabinets, wood-like flooring, stainless steel appliances, full-size in-unit washer-dryers and, in ground-floor units, private fenced yards. The array of common-area amenities will include a coffee station, swimming pool and fenced-in dog park.
A number of additional amenities will be built in cooperation with the city; these include pickleball courts, park land, waking trails and a disc golf course. Each of these amenities will be open to the public as well as the property’s residents.
Hutto: Austin-area job hub
The Williamson County Economic Development Partnership predicts significant growth for Hutto, a community 28 miles northeast of downtown Austin. The County attributes these in part due to the area’s balance of a suburban lifestyle with easily-accessible urban amenities.
The Partnership forecasts that the municipality will gain 32,800 new residents across more than 11,700 additional new housing units. Owing to the location of the new multifamily community, residents will enjoy access to a number of nearby employment centers including Walmart, The Home Depot, Dell Technologies, Amazon, HEB, IBM, Paradigm Metals and Gulf Coast Paper Company.
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The groundbreaking of Alta Ed Schmidt comes on the heels of Wood Partners’ June 2024 of The Albright, a 261-unit luxury apartment community in Austin.
In the city proper, Pearlstone Partners broke ground earlier this month on The Belvedere, a three-building, 158-unit downtown luxury condominium development in downtown Austin. The developer secured a $154.5 million construction loan for the project, provided by Benefit Street Partners.
