Georgetown is primarily a single-family community but has gone from having 5,900 multifamily units in August 2020 to 6,312 units in August 2021, a 6.98% increase, according to Apartment Trends Services, which tracks the apartment market in the Georgetown area. Its data shows that 1,571 units are under construction with an additional 2,671 units waiting for permits.
The city’s planning department data, however, shows as of Aug. 2 the city has over 7,100 apartment units. This makes up about 20% of housing in the city, Susan Watkins, Georgetown Neighborhood & Housing Program manager, told Community Impact Newspaper.
“Georgetown has a lot of assets in terms of open space, quality of life and a lot of small-town charm that people seek out,” Georgetown Planning Director Sofia Nelson said. “So, I think certainly we are feeling the effects of Central Texas growth.”
By 2030, Georgetown is expected to need 14,000 more housing units, according to its 2030 plan. As Georgetown continues to grow, the city uses this comprehensive plan to identify a vision for the city that helps to cite locations with specific types of housing, Nelson said.
The plan adjusts zoning provisions to provide greater flexibility for different housing types. Nelson said land availability and the desire to have different types of housing helps make Georgetown a desirable market.
Georgetown is also seeing growth in communities for older adults, with three complexes opening within the next year, including Amberlin Georgetown, which real estate development firm Sparrow Partners will open in summer 2022.
“Georgetown is already a top destination for active seniors, but there’s a real need for more low-maintenance alternatives to single-family homes for people who no longer want a yard but don’t yet need the services offered in assisted living facilities,” Sparrow Partners co-founder Jeff Patterson said in a June 9 release.
Sparrow Partners co-founder Luke Bourlon said the growth happening in Georgetown was an attractive feature in deciding to bring a community to the area.
As Georgetown continues to grow, city planners and council members are looking to invest in utilities in areas of growth, staff, infrastructure and transportation, Nelson said. Council has taken these needs into consideration during planning for the fiscal year 2021-22 budget, she added.
“The commitment the council has displayed is evident in so many ways in terms of prioritizing areas of growth,” Nelson said. “That is highly evident in the council’s strategic planning as well as their financial planning.”
There's no place like home
As of Aug. 2, seven apartment complexes are expected to open by late 2022 in Georgetown.- 1. The Caroline
- Opening late 2022 336 apartment units
- 2. Amberlin Georgetown
- Opening 2022 188 apartment units for residents 55+
- 3. Vida Apartments
- Opening 2022 124 apartment units
- 4. Grand Living at Georgetown
- Opening 2021 184 apartment units
- 5. Alta Austin Avenue Apartments
- Opening winter 2021 312 apartment units
- 6. Summit Lofts
- Opening 2022 257 apartment units
- 7. The Hacienda at Georgetown
- Opening late 2022 315 apartment units
