The details
Known as BB Living Sweetwater Crossing, the new luxury housing development located within the Sweetwater Crossing development west of Bee Cave will offer a total of 128 three- and four-bedroom rentable townhomes.
A three bedroom, two-and-a-half bath townhome starts at $3,439 a month for 1,733 squarefeet of space, while a four bedroom, three bath townhome starts at $3,839 for 1,914 square feet of space.
Community amenities include a resort-style pool, a dog park, outdoor grilling and picnic tables, and on-site maintenance, according to BB Living’s website.
The new neighborhood is expected to open May 15, a news release from the company said.
The project is nextdoor to other housing projects such as Madrone Canyon and The Artesian at Bee Cave, as well as the incoming West Austin Business Park.
The background
BB Living is a company that creates build-to-rent, or BTR, neighborhoods, and has a portfolio of 18 BTR communities across the southern U.S. The Sweetwater Crossing homesite will join a new homesite in Southeast Austin as part of BB Living’s first venture into the Austin metro, per the news release.
BTR housing is for those looking for the privacy and benefits of a home without the “hassle and stress of homeownership,” the news release said.
“Between down payments, current mortgage rates and the stress and commitment of home ownership, renting is a great option,” the news release said.
Fixed-rate mortgage rates have come down in the past six months, but still represent a substantial increase from the rates seen in 2022, according to data from Freddie Mac, a government-sponsored company that provides funds to the entities responsible for housing finance such as banks.
Given the current financial barriers of home ownership, BTR housing is intended to provide a solution for “missing middle” housing, per the news release. Missing middle housing is intended to offer diverse housing at a variety of price points, according to the National League of Cities.
