Wave of student housing crests in AustinWave of student housing crests in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=61272013-10-04T08:39:00Z2013-10-04T07:00:00Z

AUSTIN - A neighborhood once known for bungalows and fraternity houses is set to pick up construction, as nearly 1,000 new units are in the pipeline at six complexes.

Projects currently under construction include:

  • 21st at Pearl, 136 units;
  • 2400 Nueces, 304 units;
  • Regents West at 26th, 139 units;
  • Twentytwo 15, 156 units.

Also, 19 Rio and Regents West at 24th Street currently have plans submitted to the city, to bring 118 units and 93 units, respectively.

The units in the area mostly have one or two bedrooms and average $1,225 to $1,734 a month. The rental rate in the neighborhood averages about $1.90 per sf — 20 cents more than Central Austin as a whole.

For the past two years, the area has seen at least 98 percent occupancy. The rest of Central Austin has seen 94 to 96 percent occupancy.

Of the 31 properties in the 78705 zip code that West Campus is part of, 19 were considered Class A, according to a September report by Austin Investor Interests.

A built-in market of college students, hoping to live as close to campus as possible, help make West Campus a standout in a hot Austin housing market.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/news/local/new-wave-of-student-housing-crests-in-west-campus/nbdf7/Read more at {Source}

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