Luxe Austin Homes - apartments

RangeWater Breaks Ground in Austin

The company plans to deliver the first apartments in the fourth quarter of next year.

Multifamily real estate company RangeWater has commenced construction on The Darby, a new development in the Austin suburb of Manor, Texas. The Darby will feature 326 apartments and 24 townhouses spread across a 25-acre property. The company plans to deliver the first apartments in the fourth quarter of next year.

The garden-style apartments will be joined by townhouses that will offer three bedrooms, two-and-a-half baths, garages and private outdoor areas. A fitness center will be among The Darby’s leading common-area amenities.

RangeWater closed on the parcel three months ago, starting construction the following month. The property is located in the Texas…

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Report: Average apartment rents in the Austin area have hit an all-time high

Average apartment rents for the Austin area have hit an all-time high, an expert told KVUE's media partners at the Austin American-Statesman.

Charles Heimsath has been tracking conditions in the area's real estate market since the early 1990s. He told the Statesman that between December and June, average rents jumped by their largest percentage ever in the time he's been tracking the market.

Heimsath said apartment rents in the area – which spans from Georgetown to San Marcos – increased, on average, 11.6% from December to June. He told the Statesman that he expected to see a slow down during the first half of the year, but that didn't happen.

"Rents continue to rise with no relief in sight," Heimsath said.

The…

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Texas metros top ranking for apartment demand

As new residents continue to flood in, Austin, Dallas-Fort Worth, and Houston now have the highest apartment demand in the nation.

The largest Texas metros took the top three spots in a ranking of the increase in apartments needed to meet projected demand by 2035 in a study commissioned by the National Apartment Association and the National Multifamily Housing Council.

The study calculated the needed percentage growth in local rental stock as well as the absolute number of new apartments necessary to meet demand over the next 13 years. The combined weighted average ranked the Texas metros highest in projected rise in demand, according to the Austin Business Journal.

With a 2.6 percent growth rate and 117,107 new apartments needed to meet…

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$500 million Southeast Austin project calls for 4,000 homes, condos and apartments

A $500 million development that calls for more than 2,500 houses, 1,500 multifamily units and commercial space is in the works for fast-growing Southeast Austin

The developer is Houston-based Hines, an international real estate firm. Its partners are Vancouver-based Trez Capital, based in, Dallas-Fort Woth-based Caravel Ventures and Tokyo-based Sumitomo Forestry.

The project — which is being called Mirador — will be developed at a cost of more than $500 million, according to Hines executives. The company said financing is in place, but did not provide additional details.

The Hines-led development group said this week that it has closed on the sale of the 1,400-acre site for the project. The property is bounded in part by Pearce and Wolf…

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