Renters paradise: New apartment units flooding Northwest Austin market

Several new apartment complexes are coming to Northwest Austin, ranging from luxury developments near The Domain to affordable housing near Capital Metro’s Lakeline Station.

Industry data project the area will continue adding apartments in the next year. In the second quarter of 2016,  the Northwest Austin area saw 824 new units, according to the most recent figures from ApartmentTrends.com, a site  run by Austin Investor Interests.

Northwest Austin is expected to see 3,091 new units start construction and 3,381 units finish construction through the second quarter of 2017, according to the data.

Although the additions are in line with the building activity in Austin over the past several years, new trends are developing, said Renee Zahn, secretary treasurer of the Austin Apartment Association. She said renters are focusing less on an apartment’s total size and more on the floor plan design, and apartment builders are responding, she said.

“Developers are really taking their time and looking at their floor plans,” Zahn said. “They really want the space to be smart and well-laid-out.”

Amenities are also moving beyond pools and fitness centers, which are now fairly common, with some developers adding expansive barbecue areas and other entertainment options to make outdoor spaces useable year-round, Zahn said.

Developers cater to many income levels with new apartment choices

What’s new?


Several new developments are underway or already available to lease in Northwest Austin, including The Michael at Presidio at 13535 Lyndhurst St., near Lakeline Mall. The 415-unit apartment and townhome complex was developed by StreetLights Residential of Dallas along with Tricon Capitol Group Inc.

A leasing office opened in August, and units are now available for renters, spokesperson Katherine Donnino said.

The Michael at Presidio has studio, one- and two-bedroom apartments as well as three-bedroom townhomes. Amenities include a pool, barbecue areas, a community lounge, a game lounge, a private conference room, a coffee bar and a fitness center.

StreetLights Residential is also developing the Austin Flatiron project at 10727 Domain Drive, near IBM Corp.’s building off Braker Lane, but Donnino said the company was not ready to release information on the project.

Farther north, IMT Residential, based in Sherman Oaks, California, is building IMT Residences at Riata at 5705 Diehl Trail, adjacent to Apple Inc.’s Austin campus, with the project’s first phase anticipated to be complete in November. Phase 1 will feature 271 one- and two-bedroom apartments, and a 36-unit townhome phase will open in early 2017, said Kathleen Wolf, IMT’s national marketing director.

Nearby, Epoch Residential of Winterpark, Florida, is building a 290-unit development called Republic Place at 5708 W. Parmer Lane, across the street from Apple.

Justin Sand, the company’s president, said Republic Place is the third project Epoch has built on the property, although the company has sold the other two complexes. He said Republic Place should be completed by July and will have one-, two- and three-bedroom apartments along with amenities.

Sand said proximity to major Austin thoroughfares, such as MoPac and US 183, were key components in deciding the development’s location.

Apple’s decision to open offices nearby has also been beneficial to the development’s appeal, although Sand said Epoch had selected the property before Apple decided to move into Northwest Austin in 2012.

“It was a case of being lucky,” he said.

nwa-2016-10-2-2Affordable housing in the mix


The Northwest Austin area is also expected to see new affordable housing units by early 2017.

Nonprofit Foundation Communities expects its Lakeline Station Apartments at 13635 Rutledge Spur will be ready by January. The development will have one-, two- and three-bedroom, income-restricted apartments. It will also include a learning center offering free after-school care and programs for children as well as educational programs for residents.

Walter Moreau, executive director of Foundation Communities, said a big aspect of the site is its proximity to Lakeline Station, a Park & Ride that offers Capital Metro bus and train service. He said the high number of retail and service-sector jobs near Lakeline Station also make the site attractive.

“It’s just a great location in terms of being connected to everything,” Moreau said.

The learning center is a central component of the development and will allow Foundation Communities to conveniently offer educational and health programs as well as financial stability to residents, he said.

“We find people are much more likely to participate if they don’t have to drive anywhere,” he said. “We think of the learning center as the heart of the community. It’s the place where we will have education programs for all ages.”

Moreau said the Northwest Austin area is a new part of the city for Foundation Communities to locate developments, and he sees a need for more affordable housing in the area, particularly around Lakeline Station.

“We are excited to be able to build affordable housing in that area where there’s really nothing affordable right now,” he said.

Foundation Communities is working on another development called Cardinal Point, located at the intersection of River Place Boulevard and Four Points Drive. Moreau said Cardinal Point could be ready for move-in by fall 2017.


MOST RECENT

Salvation Pizza, opening in the Austin-Bergstrom International Airport June 16, is one of several new pizza options in the Austin area. (Courtesy Salvation Pizza)
Pie chart: See a map of 11 new, coming-soon pizza options in the Austin area

New spots include Above Ground Pizza opening in New Bruanfels after several permitting delays and Salvation Pizza feeding travelers at the Austin-Bergstrom International Airport

Austin City Council members finalized their spending plan for the federal stimulus dollars before adjourning for their summer recess that will stretch to late July. (Ben Thompson/Community Impact Newspaper)
Austin will dedicate $100M in federal stimulus funds to combating homelessness over two years

In one of their last detailed discussions before their summer break, council members secured funding for several of their individual priorities alongside homelessness allocations.

Photo of Congress Street
The Moontower Comedy Festival will return in September

Headliners for the four-day festival include Margaret Cho, Dave Attell and others.

The extension of Kenney Fort Boulevard is underway north of Hwy. 79. (Amy Bryant/Community Impact Newspaper)
North-south road in Round Rock makes progress; homestead exemption OK'd in Leander and more Central Texas news

Read the top business and community news from the past week from the Central Texas area.

Candlewood Suites is located at 10811 Pecan Park Blvd., Bldg. 2, Austin. (Chris Neely/Community Impact Newspaper)
Austin City Council votes for improved coordination with local counties on homeless issues; no action taken on Williamson County Candlewood Suites purchase before summer break

Council members unaimously approved a resolution aimed at improving collaboration on homeless strategy between Austin and local county officials June 10.

Photo of a drive-thru vaccine clinic
Travis County and partners to hold multiple vaccine clinics over the weekend, June 11-13

A drive-thru clinic at the Travis County Expo Center, along with several other neighborhood pop-ups, will offer the Pfizer vaccine this weekend.

Central Austin home prices reached a median price of $675,000 in April. (Olivia Aldridge/Community Impact Newspaper)
City Council votes to double Austin's homestead tax exemption

The exemption's increase from 10% to 20% of a homestead's value follows the passage of an additional exemption increase for senior and disabled Austinites last week.

Construction hard hat
Speed-management projects underway on North Austin neighborhood roads

Several residential streets in North Austin are receiving improvements that will help calm traffic speeds.

Austin Police Department Interim Chief Joseph Chacon (center) was joined by cadet training academy leadership June 9 to discuss the program's relaunch this month. (Ben Thompson/Community Impact Newspaper)
Redesigned Austin Police cadet academy now underway with 'significant shift' in training, oversight

After over a year on hiatus, Austin Police Department cadet training resumed June 7 under new leadership and a revamped curriculum.

NYOS Charter School campus expansion
NYOS Charter School to open North Austin campus expansion later this summer

NYOS Charter School will soon open a campus extension that will house students through eighth grade.