University Place Townhomes began construction on its third phase—the fifth building in the community—April 16 and plans to start construction on its sixth and seventh buildings, or Phase 4, this summer.

Mike Weynand, owner of the townhome community located on Haven Lane, said plans for the fifth building include four townhomes, while the sixth and seventh will feature three and four townhomes, respectively, with new floor plans.

"We have a new product that will have a master bedroom and bath downstairs, which we don't currently have in any of the other five buildings," he said. "We feel it will address a significant market segment in the Georgetown community."

About half of the residents at University Place are at or past retirement age and are in the market for "maintenance-free living," Weynand said.

"Our buyer profiles are people who are downsizing," he said. "They are moving out of traditional family homes and no longer want the maintenance responsibilities of a single-family home."

Situating master bedrooms and bathrooms on the first floor of the community's final two townhome buildings offers an option to residents who are not comfortable climbing stairs, Weynand said.

Construction on the fifth building of the community is expected to be completed in August, and construction on the final two buildings of the community will begin in June and July, Weynand said. Reservations for new units are already being accepted.

For more information on University Place Townhomes, call 512-868-9947 or visit www.universityplacetownhomes.com.