With a skyline sprinkled with cranes and buildings under construction, Austin’s apartment market is as strong as ever. Thousands of units are being added to the apartment inventory, occupancy rates are very high (despite climbing rental rates), and high-end new construction is in demand by renters with more discerning taste.
Apartment builder optimism is obvious when we look at the number of developments completed and delivered in 2015. As many as 17 finished projects were large rental developments according to data from Yardi Matrix. That segment alone added 5,028 new apartments for rent in Austin last year. And the enthusiasm continues into 2016, when a fresh supply of rental units will be awaiting to surpass renters’ ideal living expectations.
Luxury for lease is the selling agenda at each and every one of the top 10 largest rental apartment buildings on our list: from the infinity edge pool at The Catherine and the quartz countertops in kitchen and bathrooms at the Broadstone Arboretum, to the all-inclusive luxury green living experience at the Hanover South Lamar, and the on-site dog spa for the four-legged residents at Addison at Kramer Station.
See what upscale living looks like at the 10 largest rental developments completed in 2015:
#10. The Catherine: 300 rental units
Address: 214 Barton Springs Road, Austin, TX 78704
Rental types: 54 studios, 13 one-bed/alcove apartments, 154 one-bed apartments, 63 two-bed apartments, 13 three-bed apartments, 3 penthouses
Property size: 269,603 sq.ft., 14-story building (over 5 levels of parking)
Short description: Green building – LEED – Certified Silver. 480 parking spaces. 10-ft. ceilings with 8-ft. doors. Private terraces in every home. Keyless entry and USB charging ports. Infinity edge pool complete with a fire pit, outdoor lounge spaces and grilling stations. Fitness center. Rooftop private sky lounge. Pet washing station. Panoramic views of Town Lake and downtown Austin.
Photo credits: The Catherine Austin Website
#9. Camden Lamar Heights: 314 rental units
Address: 5400 North Lamar Blvd, Austin, TX 78751
Rental types: 9 live-work apartments, 242 one-bed apartments, 63 two-bed apartments
Property size: 263,135 sq.ft., 8 three- and four-story buildings (over 11,112 square feet of offices)
Short description: Partially affordable: 31 units are affordable. 501 parking spaces. Fitness center with cardio and weight training equipment. Resident lounge with gaming area & kitchen. Pool with grilling area and Wi-Fi access. Energy-efficient insulated windows. Private dog park with dog washing station. Executive business center. Washer/ dryer included. Quartz countertops.
Photo credits: Camden Lamar Heights Website, Yardi Matrix
#8. Gallery at Domain: 316 rental units
Address: 11119 Alterra Pkwy, Austin, TX 78758
Rental types: 38 studios, 193 one-bed apartments, 85 two-bed apartments
Property size: 248,276 sq.ft., 2 four-story buildings
Short description: 434 parking spaces. Smartphone controllable thermostats. Keyless unit locks. Fitness club/wellness studio. Sparkling pool with sunning areas and TV’s. Pool cabanas & grilling area. Dog wash station. Electric charging stations. Clubhouse. Laundry facilities.
Photo credits: Gallery at Domain Facebook Page, Yardi Matrix
#7. Broadstone at the Arboretum: 330 rental units – Check availability
Address: 10011 Stonelake Blvd, Austin, TX 78759
Rental types: 274 one-bed apartments, 56 two-bed apartments
Property size: 265,310 sq.ft., 3 four-story buildings
Short description: Green building – LEED – Proposed. 469 parking spaces. Elegant clubroom. 24/7 athletic center. Executive business lounge. Social lounge with latte and tea bar. Outdoor summer kitchen with grilling area. Resort style swimming pool. Pet-friendly. Designer carpeting in bathrooms. Washer and dryer included. Sleek stainless appliance package.
Photo credits: RENTCafé, Yardi Matrix
#6. Hanover South Lamar: 340 rental units
Address: 809 South Lamar Blvd, Austin, TX 78704
Rental types: 35 studios, 212 one-bed apartments, 93 two-bedroom townhouses
Property size: 294,948 sq.ft., three-, four-, and five-story building (first floor includes 2,625 sq. ft. of retail)
Short description: Partially affordable: 34 units are affordable. 479 parking spaces. Resort-style pool. 24/hr fitness club with Technogym equipment. Courtyard and lounge area. Pet-friendly with dog-washing station and dog park. Courtyard with outdoor kitchen & dining areas. Clubhouse with theater and gaming rooms. Plush carpet in bedrooms. Stainless steel appliances. Luxury bathrooms with oversized garden tubs. Custom color accent walls.
Photo credits: Hanover South Lamar Website
#5. Bexley at Whitestone: 340 rental units
Address: 9826 North Lake Creek Pkwy, Austin, TX 78717
Rental types: 170 one-bed apartments, 152 two-bed apartments, 18 three-bed apartments
Property size: 355,706 sq.ft., 17 three-story buildings
Short description: 604 parking spaces. Bocce lawn. Business center with Macs and wireless printing. Cardio/strength training fitness center with yoga/aerobics area. Dog park. Clubhouse with kitchen. Resort-style pool with sun lounge, relaxing cabanas, and Wi-Fi. Stainless steel appliances. Espresso cabinetry with brushed nickel hardware. Gourmet kitchens with granite countertops and designer tile backsplash.
Photo credits: Bexley at Whitestone Website
#4. Escape at Four Points: 344 rental units – Check availability
Address: 11210 FM 2222, Austin, TX 78730
Rental types: 12 carriage, 170 one-bed apartments, 128 two-bed apartments, 34 three-bed apartments
Property size: 323,612 sq.ft., 17 two- and three-story buildings (first floor includes parking)
Short description: 420 parking spaces. Game room with billiards and shuffleboard. Business center with computers, printers and conference room. Resort-style pool with expansive deck and in-water tanning ledges. Alfresco Grilling Area. State-of-the-art cardio and strength training equipment. Granite kitchen countertops. Decorator designed interiors with two-toned paint. Plush carpeting in bedrooms and closets.
Photo credits: Escape at Four Points Facebook Page, Yardi Matrix
#3. The Bowie: 358 rental units
Address: 311 Bowie Street, Austin, TX 78703
Rental types: 1 guest suite, 31 studios, 167 one-bed apartments, 124 two-bed apartments, 35 one-, two-, and three-bed penthouses
Property size: 361,531 sq.ft., 21- and 27-story tower (over 9 floors of retail, office, and parking)
Short description: Green building – LEED – Proposed. 463 parking spaces. Built-in desks, cabinetry, and linen cabinets. Floor-to-ceiling windows. Full-size, front-load washers and dryers. Marble, quartz, and granite countertops. Private terraces in most residences. 31st floor outdoor deck with fire pit and grilling area. Rooftop heated swimming pool with intimate cabanas. Views of Downtown Austin.
Photo credits: The Bowie Website
#2. The Mansions at Lakeline: 374 rental units
Address: 10500 Lakeline Mall Drive, Austin, TX 78717
Rental types: 214 one-bed apartments, 96 two-bed apartments, 32 three-bed apartments, 32 four-bed townhouses
Property size: 404,042 sq.ft., 57 two-story buildings
Short description: 689 parking spaces. Controlled access. Resort-style swimming pool and deck. Clubroom with HDTV entertainment. Playground. Concierge services. Game room and billiards. Outdoor fireplace and grills. Executive business center. Lake views.
Photo credits: The Mansions at Lakeline Facebook Page
#1. Addison at Kramer Station: 388 rental units – Check availability
Address: 2601 Esperanza Crossing, Austin, TX 78758
Rental types: 132 one-bed/alcove apartments, 70 one-bed apartments, 160 two-bed apartments, 25 three-bed apartments
Property size: 350,772 sq.ft., 7 three-story buildings
Short description: 507 parking spaces. Kitchen islands for additional cooking space. Large windows with solar shades. Frameless showers. Woodcraft espresso finish cabinets. Hardwood style premier flooring. Resort style pool with tanning shelf. Fully equipped fitness center. Fully-equipped resident demonstration kitchen. Onsite dog spa. Clubhouse with expansive lounge seating.
Photo credits: RENTCafé, Yardi Matrix
To get a better idea of how the new units rolled out gradually throughout 2015, here’s an eye-grabbing visual representation prepared by RealMassive (using their special mapping tool for the commercial real estate industry, Project Atlas):