Q. Why are there no addresses listed in your ads?
A. In order to receive credit for leasing the property, we have to show you the property. In order to give you the most choices, we work all open listings, not just ours.(we work with well over 95% of the complexes in town) In some cases, we can meet you at the property to make it easy on you. Or in some situations (like a long distance, sight unseen rental) , register you ahead of time, so we would not have to be there, but we have to arrange this before you look at the property.
A. Can you send me a list of apartments in Austin?
Unfortunately there is no such thing as a true updated list of available Austin apartment rentals. There are hundreds of rental management and private owners in town, without an MLS type system. Which is why we exist - because it is .a overwhelming task to do it yourself. Therefore we have no correlated list available that we can send you. You can always check our website for an updated selection (but it only lists a small percentage of what available apartments in Austin we have) . Anyone who says they have a list of apartments actually has a limited database of the units - the ones that will work with them on a smaller commission when they "send" you to apartments on that list, without checking availability - MOST OF WHICH DO NOT HAVE AVAILABILITY OF UNITS MEETING YOUR CRITERIA.
The main reason a list wouldn't help you is that it doesn't show what is available! Availability of units for a particular price, area, etc. literally change daily. Our job is to do the legwork for you, and find the best ones available using your criteria so you can pick from the top ones. Otherwise, you might as well use the yellow pages as a "list". We are full service professional real estate agents, like Realtors
Q. How else can you help me?
We can advise you on all aspects of your search, and find those "hard to find" properties that have:
- Unique Floorplans - roommate plans, extra closet space,
- New Luxury properties, gated, energy efficient
- Big dog pet friendly communities including breed specific policies
- Move-in Specials - $0 move-in , 1,2 even 3 months Free
- Pre-leases and waiting lists
- Specific amenities - Gas cooking, dog parks, townhome style, condo specs, garages
- Unique Units or exteriors - lofts, townhouses, yards, duplexes
- Short Term leases (and the ones with the smallest upcharges)
- Bus lines, estimated commuting times, maps
- Special issues - damaged credit
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Current News Articles
HANOVER CO. TO BUILD SOUTH LAMAR
A joint venture between he Hanover Co. and an unnamed private investor has been created to develop a 3.44 acre site into multi-family housing. are developing the 340-unit Hanover South Lamar at 809 S. Lamar Blvd. in Austin.
The 5 story community will be built on top of a parking garage and 6200 sf of retail space. 1 & 2 bedroom units will average 875 sq ft
The project is slated for completion in November 2014.
Apartments are 'In' in Austin
With occupancy rates hitting 96% or more and rental rates also hitting record highs, developers are looking to get on the Austin apartment bandwagon. Average rents are now at $899 per month.
Fortunately, several complexes are either planned or under construction, which may help alleviate some of the pent-up demand
• 201 unit Wildflower Terrace
• 302 unit University Park
• 262 unit Corazon
• 300 unit RiverView
• 301 unit Mueller Phase II
• 150-unit M Station
• 230-unit Lakeshore Apartments
• 1,200-unit South Shore District
• 215-unit The District at SoCo
• 318-unit Lamar and Manchaca apartments
• 298-unit Post South Lamar
• 210-unit Gables Park Plaza II
• 334-unit HPI Residential-Davis Springs
• 325-unit HPI Residential-Lakeline
• 244-unit Camden Amber Oaks, second phase
• 296-unit Colonial Grand at Double Creek
All of the complexes are either under construction or planned.
ENDEAVOR UNVEILS NEW DOWNTOWN AUSTIN ENDEAVOR
AUSTIN There's been no shortage of new projects in downtown Austin lately, and Endeavor Real Estate Group has released details about another.. The local firm said it has lined up the equity and is partnering with Lynd Co. to develop a 36-story tower near West Fifth and Bowie Streets.Plans for the building, dubbed 3 eleven Bowie, call for 358 apartment units, as well as 42,000 sf of office and 3,000 sf of retail space.The developers plan to break ground in September. The first of the apartments are slated to be completed by third quarter 2014.
Austin Texas Apartment Market Report
Austin's apartment market on record setting hot streak
The Austin area apartment market is continuing on its hot streak, with rents & occupancies hitting the highest levels in 2 decades. The area's midyear apartment occupancy rate stood at 97.8%, said real estate consultant Charles Heimsath, president of Capitol Market Research. He said that's the highest rate since 1991, when he started surveying the Austin market.
The high occupancy is pushing rents up also They hit a record $953 per month That's a jump from a $900 average in June of last year. Although more than 10,000 more apartment units are under construction in the area, demand is still easily outpacing supply.
While landlords are raising rents, many tenants are facing sticker shock. Driven by job growth and a robust influx of newcomers — more than 50,000 a year — along with a recession-caused dearth of new units being built, the region's apartment market has become one of the nation's hottest over the past 2 years in terms of rising rents & occupancy. Experts expect the rental squeeze... and the escalating rents.. to continue through next year.
Austin's economy has fared better than most U.S. metro areas during the downturn, making it an attractive place for job seekers, including younger people who are likelier to rent. But even Austin wasn't spared from the recession and the ensuing financial constraints that made it virtually impossible to obtain financing in recent years for new projects, including apartments.
Last year, however, has seen lending loosen up somewhat, and that has led developers to put some stalled projects back on the front burner, or to plan or start new ones.
Heimsath's research shows 10,604 apartment units currently under construction, more than a tenfold increase from the 839 under construction in June of last year with an additional 8,800 planned for the next few years
New apartment construction in Austin "will be among the most aggressive seen anywhere across the country during the next couple of years," said Greg Willett, vice president of research and analysis at MPF Research, whose research showed Austin's apartment occupancy at 95.6 % slightly lower than Heimsath's figure.
Heimsath said the market will remain "very undersupplied" for the rest of 2012. Like Willett, Heimsath said he thinks "we'll see a little bit of easing next year as new units get delivered to the market, but I see continued tight market conditions at least through the end of 2013."
FLOOR PLAN BREAKDOWN
% of Mkt Avg SqFt Ave Eff.Rent/Mo
Eff 2.5% 425 $623
1 BR 46.3% 686 $803
1 DEN 3.4% 885 $948
2 BR 37.0% 1,005 $1,023
2 DEN 1.4% 1,132 $1,114
3 BR 7.1% 1,239 $1,250
>3 BR 2.3% 1,342 $1,660
Austin's apartment market still sizzling hot
The Austin-area apartment market is hot these days, as heightened demand due to job and population growth plus a lag in new projects have combined to make it the hottest sector of the real estate market. The local Austin / Round Rock / Cedar Park apartment market will be the nation's No. 2 performer this year based on projected increases in rents and occupancies, just behind San Francisco, CA according to MPF Research,
Capitol Market Research predicts that the Austin area apartment market will be on the upswing for at least another 2 to 3 years It's data, which tracks 145,000 units in Austin and other areas, including Round Rock, Pflugerville, Cedar Park, Leander and Kyle, shows that the region ended 2011 with 95.9% of its apartments occupied, up from 94.8 percent at the end of 2010.
The all-time high — 97.6 percent occupancy — was reached in December 2000
Average rents across all unit types — 1, 2 and 3-bedrooms — climbed last year to $913/mo, compared with $853 in 2010. Rents for 1 bedroom units saw the biggest jump, soaring to $878/moas of December, 2011 compared with $731 at the end of 2010 MPF forecasts rent growth of about 5.5% in 2013 and about 4% in 2014. Forecasts show Austin will have demand for about 4,800 apartment units this year. About 3,100 new units are expected to be completed this year, followed by 4,900 in 2013. Thousands more units are in the planning stages, bu some of those projects could have problems obtaining financing.
Projects will add 780 apartments along East Riverside corridor
Two apartment projects announced a few years ago along E. Riverside Drive are ready to move forward as the local multi-family market heats up. With a 3rd project under way, the plans will add and additional 780 residential living units
Construction is planned for later this year on the street and utility infrastructure for the western 26 acres in what is known as the Lakeshore planned unit development, or PUD . A month or two later,Cypress Real Estate Advisors will break ground on the 1st component, a $30 million apartment project with 230 luxury units along South Lakeshore Boulevard, east of Riverside Dr.
Palms on North Lamar
Mulholland Group recently opened its new twenty-one building, 476 unit affordable housing community located at 8602 N. Lamar Blvd. The $35 million Palms on North Lamar was financed in part by the largest tax credit arrangements awarded by the American Recovery and Investment Act in Texas in 2010.
Historical Data on Renting in Central Texas
* Note: Current rents recently surpassed the previous highest rents in Austin (in June 2000)
Quoted Rents are for 2-bedroom, 2-bath units. Occupancy rates are for all apartments.
Date Average rent Occupancy rate
June 2000 $913 98%
June 2001 $951 93%
June 2002 $868 90%
June 2003 $812 88%
June 2004 $784 89%
June 2005 $811 93%
June 2006 $861 95%
June 2007 $900 93%
June 2008 $905 92%
Feb 2009 $870 88%
March 2009 $824 87%
March 2010 $850 91%
August 2010 $874 94%
May 2011 $890 95%
December 2011 $898 95%
June 2012 $953 *95.6%
*per MPF Research
Other reporting agencies can have slightly varying numbers
ALN Apartment Data. Inc
Austin Market General Overview
Occupancy: 94.7% +0.2%
Units Added: 1,068 +21.4%
Units Absorbed (Annual): 1,219 -79.3%
Average Size (SF): 853 -0.1%
Asking Rent: $939 +6.7%
Asking Rent per SF: $1.10 +6.8%
Effective Rent: $940 +5.9%
Effective Rent per SF: $1.09 +7.6%
Wave of apartment development on the way
Austin's sizzling apartment market is prompting developers to race to the starting gate with new projects. The development plans come as apartment rents have hit record highs and the occupancy rate has jumped to 95%.
Proposed Construction / Greater Austin - 2011
Name * = Affordable Housing Units Area
** = Senior Housing
--------------------------------- ----- ----------------------
- Robertson Hill II/Lane-SW 282 Downtown /UT/ Riverside
- Gables Republic Park 221 Downtown /UT/ Riverside
- Riverside Square Redev/CWS 300 Downtow n/UT/Riverside
- Greystar Magnolia 245 Downtow n/UT/Riverside
- Post 1500 S Lamar/Post 298 Downtown /UT/Riverside
- The Milan 100 Downtown /UT/Riverside
- 5400 N Lamar/Camden 290 Downtown /UT/Riverside
- District SoCo/Kaplan 215 Downtown /UT/Riverside
- 21st at Pearl/Lee Prop 121 Downtown /UT/Riverside
Northeast & Southeast:
- Mueller Airport Site II/Simmons Vedder 300 Northeast
- South Shore District I & II/Grayco 1175 Southeast/Riverside Dr
North & Northwest:
- Riverhorse Ranch II/Belco 278 Pflugerville/RR/Gtown
- Mansions at Round Rock II/Chaucer 237 Pflugerville/RR/Gtown
- Criterion at Harris Ridge 400 Pflugerville/RR/Gtown
- Crestview Station II/High Street Res 600 North
- Greystar Stone Hill 300 Pflugerville/RR/Gtown
- Two Rivers/Larry Peel 163 Pflugerville/RR/Gtown
- Archstone Hogfarm 500 Cedar Park / Leander
- RIATA IX/Legacy 306 Cdr Cedar Park / Leander
- Little Elm/GenCap 372 Cedar Park / Leander/ Jollyvlille
- Crossings La Frontera/Simmons Vedder 357 Cdr Pk/Leandr/Jollyvl
- Crossings Lakeline/Simmons Vedder 400 Cdr Pk/Leandr/Jollyvl
- Camden Amber Oaks II/Camden 250 Cdr Pk/Leandr/Jollyvl
- Park North/GenCap 600 Cdr Pk/Leandr/Jollyvl
- Fairfield at Ribelin Ranch 298 Cdr Pk/Leandr/Jollyvl
- Crystal Falls/GenCap 488 Cdr Pk/Leandr/Jollyville
South & West:
- Stonecreek Canyon/Moody National 184 South/Hwy 71/I-35
- Alexan Legacy Oaks/Trammell Crow 372 South/Hwy 71/I-35
- Verde LaDera 300 South/Hwy 71/I-35
- Vantage at Plum Creek* (Kyle) 264 South/Hwy 71/I-35
- Colonial Village at Cityway 376 South/Hwy 71/I-35
Total (31 properties) 10,588
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