The Austin area will soon see the rise of two residential projects totaling 720 apartment units: the Morningside development and the Mansions at Stone Hill. The latter, which is currently being developed at the Stone Hill Town Center in Pflugerville, will include 374 units, and new residents will likely be able to move in around Nov. 1, according to The Austin-American Statesman.
Among the attractions that future residents will be able to enjoy include a 24 Hour Fitness, a Home Depot, a Super Target, a Cinemark movie theater, a St. David’s Emergency Center and a Shogun Japanese Grill and Sushi Bar, according to shopping center developer NewQuest Properties’ website.
The developer of the luxury apartment project is Western Rim, which is currently developing other residential properties in Dallas, Fort Worth, San Antonio and Tyler.
Another important residential project in the Austin area is the Morningside development, which is said to bring more than 350 new condos and single-family dwellings to Bee Cave. The project was recently submitted to the city council for approval. Plans call for 316 condos and 62 single-family dwellings on 35.6 acres of land, as reported by the Community Impact Newspaper.
The developers of this condo project are Ash Creek Homes, along with Embry Partners. The publication also mentions that, if the city approves the project by late summer, construction work can begin in the fall.
Bee Cave harbors a strong demand for apartment units with a nearly 100 percent occupancy rate, while Lakeway has currently no apartment complexes, said Scott Morledge, president of Ash Creek Homes, in an interview the Community Impact Newspaper. He added that the houses are expected to cost between $240,000 and $300,000 and condos between $160,000 and $240,000, as opposed to the average price of a condo or home in the area, which is $565,935, according to City-Data.com.