Apartments

Real estate
8:02 pm
Wed July 24, 2013

Report: Austin Apartment Rents at All Time High

http://www.flickr.com/photos/ashley_brown/4256127642/

Apartment prices are at a record high in the Austin-area, averaging $1.15 per square foot, according to a report by Austin Investor Interests.

More people are moving to Austin and there hasn’t been a lot of new apartments constructed, although that is changing. But many of the new apartments being constructed are centrally located and aren't cheap.

“A lot of these units average a much higher price, $1.39 a square foot, with at least a third of these units being in the 78704 zip code or in the Central Business District, which averages $1.70 up to $2.50 a square foot," said Robin Davis with Austin Investor Interest. "These new units will raise average rents fairly significantly, but rents are also rising on average 5 percent anyway without these units."

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Austin
4:34 pm
Wed May 1, 2013

Austin Apartment Demand Rising - Along With Supply

The market is looking up for Austin apartments.
courtesy flickr.com/ahockley

Finding an apartment in Austin keeps getting harder, even as more units are being built.

The real estate tracking firm Austin Investor Interests says occupancy rates edged up to 95 percent in the first three months of the year. Rental rates grew more than 2 percent in the first quarter. Robin Davis with Austin Investor Interests says more than 16,000 units are under construction.

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Austin
6:51 am
Wed October 24, 2012

The Mueller Development Keeps on Developing...

Future AMLI apartment community at Mueller.
AMLI

AMLI Residential, builder of several high profile apartment communities in Austin, has announced it is going to build a mid-rise project in Mueller town center.

AMLI says it plans to build a $30 million, 279-unit apartment complex on Simond Avenue, across from Lake Park and the new Austin Children’s Museum. The community will contain 20 percent efficiencies, 56 percent one-bedroom apartments and 24 percent two-bedroom apartments.

Prices for the apartments will be set during the pre-leasing process, but 15 percent of the units will be included in the Mueller Affordable Homes Program, which is for residents who earn 60 percent or less of Austin’s median family income.

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Austin
4:35 pm
Wed June 27, 2012

Meeting Tonight on Wood Ridge Apartments' Repairs

A notice from the city at the Wood Ridge Apartments earlier this month.
Robb Jacobson for KUT News

After the collapse of a second-floor walkway at the Wood Ridge Apartments on Burton Drive in Southeast Austin, the city ordered several residents to evacuate. Residents say apartment management failed to respond to complaints of deterioration.

As a result, the City of Austin’s Building and Standards Commission ordered certain parts of the Wood Ridge building exteriors be brought up to code in a 75-day window.

Though today isn’t the 75th day, a meeting tonight will contain an update on the status of the repairs. 

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Austin
12:28 pm
Tue June 5, 2012

Apartment Owners Have Two and a Half Months to Fix Problems

A second-floor walkway collapsed at the Wood Ridge apartments in May.
Photo by Robb Jacobson for KUT News

A city commission is giving the owners of a Southeast Austin apartment complex 75 days to get the walkways and exteriors of more than a dozen buildings up to code. That includes getting permits and inspections.

A second-floor walkway collapsed at the Wood Ridge Apartments last month and the city originally ordered the more than 150 residents to evacuate. Some were allowed to return right away.

The city has now lifted the vacate order on five remaining buildings, so those people will be allowed back in their homes to collect their belongings  – or even sign a new lease at the property.

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Austin
2:10 pm
Mon June 4, 2012

Are the Wood Ridge Apartments Safe? Commission Decides Tonight

The balcony collapse at the Wood Ridge apartments left a hole in the building's structure.
Photo by Robb Jacobson for KUT News

A city commission may determine the fate of over 150 residents of a dilapidated apartment building tonight – and issue orders to “vacate, repair, demolish or secure” the complex.

After the collapse of a second-floor walkway at the Wood Ridge apartments on Burton Drive in Southeast Austin, the city ordered several residents to evacuate. Residents say apartment management failed to respond to complaints of deterioration.

Several mishaps have occurred in the evacuation process. City officials have since told the Austin American-Statesman apartment managers failed to adequately supply residents with resources following their displacement. The City of Austin’s Building and Standards Commission is holding a public hearing this evening.

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Business
1:17 pm
Mon July 11, 2011

Report: Austin Rental Market Good For Investors

Austin makes a list of best cities in which to invest in rental property.
Photo by Nathan Bernier for KUT News

The company behind those “We Buy Ugly Houses” billboards just released a study on the best cities to invest in rental properties, and Austin made 24th on the list.

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economy
2:20 pm
Fri April 29, 2011

Report: Austin Rents Will Rise Four Percent in 2011

The Cambridge Towers, a high-rise apartment building on Lavaca St. An Encino, California based real estate analysis firm says apartment rents will rise 4 percent this year in Austin.
Photo by Matthew Rutledge http://www.flickr.com/people/rutlo/

Slowing construction and rising employment will push average Austin rent prices four percent higher this year, according to real estate analyst Marcus and Millichap.

In its 2011 annual apartment forecast, the firm says only 1,000 rental units will be constructed across the entire metro area this year, compared to 2,900 units in 2010. At the same time, the company predicts local employers will add 21,000 positions this year, up from the 14,400 jobs created last year.

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