Ocotillo, a new complex in Southwest Austin, received the Lease Up 2017 Property of the Year award, and Lamar Union in South Austin received the mid/high rise property of the year award winner. Davis Soco apartments and Whitley were honored as the runners-up in the mid/high rise property category, according to Stephanie Hudson, Lamar Union's community manager.
"There are a lot of things it takes to be considered for an award, and a lot of things you have to go through and the property gets looked at by a lot of people," Hudson said. "Anytime a property is nominated or makes the top three, it’s a huge privilege."
Awards are divided into categories based on the number of units, the property's age, amenities and occupancy. All eligible properties were then assessed based on three criteria: property marketing efforts and staff expertise, a physical visual inspection and a blind shop of the property performed by a third party. Here are the winners:
1. Lease Up 2017 Property of the Year
WINNER: Ocotillo, Greystar
Affordable and mid/high rise not included in this category. Any property that is less than 18 months old and less than 70% occupied at the time of nomination.
2. Mid/High Rise 2017 Property of the Year
WINNER: Lamar Union, Greystar
Any property that is four stories or more, has interior corridors, elevators, and parking garage. The property may also include commercial components.
3. Emerald 50-299 units 2017 Property of the Year
7East apartments.[/caption]WINNER: 7East, Greystar
Properties built between 2010 and 2015 with 50-299 rental units.
4. Emerald 300+ units 2017 Property of the Year
WINNER: Rise Apartments, Greystar*
Properties built between 2010 and 2015 with 300 or more rental units.
*As of June 8 Greystar no longer manages Rise Apartments
5. Diamond 50-299 units 2017 Property of the Year
WINNER: Hudson Miramont, Oden Hughes Management, LLC
Properties built between 2000 and 2009 with 50-299 rental units.
6. Diamond 300+ units 2017 Property of the Year
WINNER: Mosaic at Mueller, Greystar
Properties built between 2000 and 2009 with 300 or more rental units.
7. Sapphire 50-299 units 2017 Property of the Year
WINNER: Somerset Townhomes, Alliance Residential
Properties built between 1990 and 1999 with 50-299 rental units.
8. Sapphire 300+ units 2017 Property of the Year
WINNER: Riata, IMT Residential
Properties built between 1990 and 1999 with 300 or more rental units.
9. Affordable Housing 2017 Property of the Year
The Villages at Ben White[/caption]WINNER: The Villages at Ben White, Capstone Real Estate Services
Any affordable housing property. Must have income and rent restrictions on greater than 50% of the total number of units; some examples include HTC, AHDP, Bond, HOME, Housing Trust Fund, and COA Smart Housing.
10. Ruby 2017 Property of the Year
WINNER: Balcones Club, Presidium Group
Properties built prior to 1989 with 50 or more rental units.
