$90M multifamily project planned for Northwest Austin

Multifamily developer JPI is planning to break ground on 342 new apartments in Northwest Austin this month.

The overview

JPI closed on 9.3 acres at the northwest corner of Pearson Market Circle and Spectrum Drive in June, making way for a $90 million multifamily housing project known as Jefferson Pearson Ranch, according to a news release. The housing will go into the larger, 156-acre Pearson Ranch.

The 342 apartments will be built across three four-story buildings, with a two-level parking deck. The complex will feature a mix of 25 studio, 211 one-bedroom, 90 two-bedroom and 16 three-bedroom homes. The site will also include a standalone fitness center, resort-style pool, resident lounge, private conference rooms, dog park and more.

JPI is expected to break ground on the project this month, with completion anticipated in 2028.

What else?

The developer cited the area’s major technology employers as the key driver behind the need for additional housing along the corridor, including companies like Apple, Dell, PayPal, Amazon and Visa.

“Austin remains one of the strongest long-term growth stories in the country, and this corridor of Northwest Austin sits right at the center of it,” Miller Sylvan, regional development partner at JPI, said in the release. “We’re proud to plant our flag back in Austin with a project of this caliber, bringing high-quality housing to a market where demand is accelerating.”