Transwestern Development Co. has acquired a 0.56-acre site and a 1.6-acre site in Austin, Texas with the intention to build two micro-unit communities. The communities will be the second and third micro-unit developments for the company in Downtown Austin.
The 1.6-acre site, located between East Third and East Fourth Streets on Waller Creek, is dubbed Block 36 and will include 263 units and a 3,000-sf restaurant space on the ground floor.
Block 36 will comprise primarily studio units with 14% of the community slated for two-bedroom units. Apartments will average 443 sf and include Murphy and platform beds, hideaway kitchen modules, convertible coffee/dining/bar tables, modular furniture, 10-foot ceiling heights, and stainless steel, Energy Star-certified appliances.
See Also: U.S. multifamily market stays strong into 4th quarter 2019
The community will feature amenities such as a resort-style pool, bike storage, a fitness center, a clubroom and business lounge, and an elevated courtyard with fire pits, grills, and outdoor seating.
Block 36 broke ground in January of 2019 with delivery in the first half of 2020. Wilder Belshaw is the project’s architect.
Block 36. Rendering: Wilder Belshaw Architects / Transwestern.
Transwestern’s third micro-unit development in Austin will rise at the 0.56-acre site acquired by the company in late 2019. Located at 817 W. 12th St., the development will include 147 units and 3,600 sf of retail space on the ground floor.
The West 12th Street project will consist of studio, one-, and two-bedroom units that average 444 sf. Like Block 36, this development’s units will feature Murphy and platform beds, hideaway kitchen modules, and convertible coffee/dining/bar tables. The community will have a resident clubhouse, pool, bike storage, laundry facilities, courtyard, and fitness center.
The project is slated to break ground in the second half of 2020 with delivery in 2022. Both projects will fill a gap in Austin’s rental market for those who wish to live in the city for under $1,500 a month. They will join the Indie, Transwestern’s first micro-unit development in Austin, in offering better value for Austin renters seeking a premium product in a compact space.
Related Stories
MFPRO+ News | Apr 18, 2024
Marquette Companies forms alliance with Orion Residential Advisors
Marquette Companies, a national leader in multifamily development, investment, and management, announces its strategic alliance with Deerfield, Ill.-based Orion Residential Advisors, an integrated multifamily investment and operating firm active in multiple markets nationwide.
MFPRO+ New Projects | Apr 16, 2024
Marvel-designed Gowanus Green will offer 955 affordable rental units in Brooklyn
The community consists of approximately 955 units of 100% affordable housing, 28,000 sf of neighborhood service retail and community space, a site for a new public school, and a new 1.5-acre public park.
MFPRO+ News | Apr 15, 2024
Two multifamily management firms merge together
MEB Management Services, a Phoenix-based multifamily management company, and Weller Management, a third-party property management and consulting company, officially merged to become Bryten Real Estate Partners—creating a nationally recognized management company.
Mixed-Use | Apr 13, 2024
Former industrial marina gets adaptive reuse treatment
At its core, adaptive reuse is an active reimagining of the built environment in ways that serve the communities who use it. Successful adaptive reuse uncovers the latent potential in a place and uses it to meet people’s present needs.
MFPRO+ News | Apr 12, 2024
Legal cannabis has cities grappling with odor complaints
Relaxed pot laws have led to a backlash of complaints linked to the odor emitted from smoking and vaping. To date, 24 states have legalized or decriminalized marijuana and several others have made it available for medicinal use.
Multifamily Housing | Apr 12, 2024
Habitat starts leasing Cassidy on Canal, a new luxury rental high-rise in Chicago
New 33-story Class A rental tower, designed by SCB, will offer 343 rental units.
MFPRO+ News | Apr 10, 2024
5 key design trends shaping tomorrow’s rental apartments
The multifamily landscape is ever-evolving as changing demographics, health concerns, and work patterns shape what tenants are looking for in their next home.
Mixed-Use | Apr 9, 2024
A surging master-planned community in Utah gets its own entertainment district
Since its construction began two decades ago, Daybreak, the 4,100-acre master-planned community in South Jordan, Utah, has been a catalyst and model for regional growth. The latest addition is a 200-acre mixed-use entertainment district that will serve as a walkable and bikeable neighborhood within the community, anchored by a minor-league baseball park and a cinema/entertainment complex.
Multifamily Housing | Apr 9, 2024
March reports record gains in multifamily rent growth in 20 months
Asking rents for multifamily units increased $8 during the month to $1,721; year-over-year growth grew 30 basis points to 0.9 percent—a normal seasonal growth pattern according to Yardi Matrix.
Industry Research | Apr 4, 2024
Expenses per multifamily unit reach $8,950 nationally
Overall expenses per multifamily unit rose to $8,950, a 7.1% increase year-over-year (YOY) as of January 2024, according to an examination of more than 20,000 properties analyzed by Yardi Matrix.
