Morgan Group, a multifamily developer based in Houston, breaks ground on the project in August. The Caroline will have 16 three-story buildings and includes amenities such as a pool, a dog park, a clubhouse and a fitness center.
The Caroline will be located on the southern side of Georgetown at 5300 N. Mays St. and will be close to H-E-B and Round Rock Premium Outlets.
In 2020, Morgan Group opened an office in Austin to expand into the region. Jason Hauck, the company’s central region development partner, said the Caroline is the company’s third multifamily community in the area.
“We try to deliver an elevated product at an affordable price,” he said in a news release.
Hauck said he anticipates the new community to be attractive to young professionals who work in the area as well as renters wanting more space.
Information from ApartmentData.com indicate the multifamily market is recovering more quickly in the Austin metro than other metros in the state, according to the release. Hauck said demand for rental units has increased in the past three months.
“The population surrounding Caroline at Georgetown is well-educated and has strong household incomes," Hauck said. "New jobs on the north side are continuing to pull people north."
