Austin corridors budding with multifamily growth

AUSTIN – The housing market in Central Austin is seeing an upswing in multifamily and mixed-use multifamily projects as developers respond to a demand for more centrally located units suited for younger tenants and families.

There are many projects in the pipeline for Central and East Austin.

Projects for North Central Austin include Burnet Flats and Burnet Pointe Residential. Developers have also proposed a mixed-use development on state-owned land on the east side of Bull Creek Rd., south of 45th St.

The corridor along East Riverside Dr. is another up-and-coming area. As reported in November 2011, Milestone Management plans to open the RiverView Austin Apartments in January 2013.

According to the U.S. Census Bureau, the percentage of housing units in multifamily structures in Austin from 2006 to 2010 was 47.9 percent. The Capital Market Research year-end Austin Apartment Market analysis for 2011 showed occupancy in Austin at 95.9 percent.

Read more at the Community Impact Newspaper.