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Developers recently broke ground on The Kent, which is slated to open by late 2028
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A new seven-story multifamily community with nearly 400 units called The Kent is being built near The Domain within the North Burnet-Gateway area.
Officials with real estate agency HPI, which will serve as the developer, asset manager and construction manager, announced the project's groundbreaking in an August news release.
The complex will be located at 2631 Kramer Lane and feature one-, two- and three-bedroom options with parking garage access.
Amenities are slated to include:
Community amenities such as a clubroom, beer garden, speakeasy, movie room and resort-style pool
Fitness amenities such as a two-story fitness center with a yoga and pilates studio, bouldering wall, pickleball court, basketball court and a recovery area including a sauna and cold plunge
A coworking space with private offices, a conference room and a podcast creator room
Pet amenities including a dog park and dog spa
According to HPI officials, the first units are expected by late 2028 and full completion is expected by early 2029.
Officials said the company is investing over $20 million of its own capital into the project along with a group of private investors, but did not disclose the total investment amount.
The project is moving forward at a time when most large institutional investors have "pulled back from funding new apartment construction" and as new apartment starts have dipped, HPI officials said in the news release.
The pace of new apartment construction in Austin has dropped sharply after a "record number" of new apartments opened in 2024, officials said. Data shared in the release from Austin Investor Interests showed that construction began on 3,300 apartments in Austin in the first half of 2026, a 35% drop year-over-year.
Additional data from the Austin Apartment Association projects about 13,000 new apartments will open in 2026, down 33% from 2025, and 7,000 apartments in 2027, a further 46% drop.
Officials are aiming for The Kent's completion to line up with the completion of the UT Dell Medical Center off MoPac in 2030.
"The area around The Domain has been one of Austin's strongest apartment markets for years, and the new UT Dell Medical Center is going to bring a wave of additional demand. Rents in the area are increasing while very few new apartments are expected to be completed in the next few years. Because we're not building a high-rise, we can offer high quality at a lower rent than many of the newer communities nearby.” — Tim Shaughnessy, HPI partner and multifamily president
The North Burnet-Gateway area is continuing to grow with other new mixed-use developments such as Uptown ATX and the potential Verde Square. Austin City Council also approved a request to rezone another seven acres of land near Q2 Stadium from warehouse mixed-use to commercial mixed-use earlier this year, as previously reported by Community Impact.
