City of Austin Multifamily Status Report: 1st Quarter 2000

The Multi-family Status Report is produced quarterly by the Demographics and Forecasting Group in the City of Austin Planning, Environmental and Conservation Services. The report includes several different components:

• Analysis - A description of the multifamily market in Austin over the last quarter and what can be expected in the future.
  
• Total Submitted - A graph of the historical number or Multi-family units submitted for site plan approval.
  
• Pipeline Summary - Units and projects tabulated by project status.
  
• Status Changes - Units and projects that changed status during the quarter.
  
• Download - Still need more information? Just download it!
  

Analysis

The first quarter of 2000 for Austin's multifamily market was nothing short of phenomenal. There was significant movement through all pipeline categories. Not only were over 3000 new units proposed but almost 2800 units achieved site plan approval and another 2800-plus units began construction.

The emerging node of new product in far south Austin that stretches along Slaughter Lane saw the entry of two new apartment complexes as site plans were submitted for Southpark Apartments with 192 units and Forest Hills Apartments also with 192 units. Central South Austin is heating up as well with the planned construction of Independence Park Condos on Manchaca Road, just south of Stassney Lane, where a whopping 456 units are proposed.

National multifamily development giant JPI is active again with the submission of over 1200 units in three projects, two at the intersection of RM 2222 and RM 620 and a monster 652 unit complex slated for Parmer Lane near Motorola. Joining JPI's planned complexes in the burgeoning cluster of new multifamily stock being created along RM 620 is the 540 unit Verandah at Grandview Hills.

The number of multifamily units currently under construction now hovers just above 9000. These new units will come to a market that continues to hold marketwide occupancy rates in excess of 97%. A more balanced market would support a marketwide occupancy level closer to 92%. Austin's multifamily market seemingly cannot deliver enough product to meet the demand generated by vigorous job growth and the consequent increasing population base.

Ryan Robinson

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Pipeline Summary as of April 1, 2000

	Units	Projects
Projects with Site Plans Pending	6,076	30
Projects with Site Plans Released	2,608	18
Projects Under Construction	9,022	27
Projects Completed	27,954	120
Projects with Expired or Withdrawn Site Plans	1,857	10
Total:	47,517	205

Status Definitions:
Pending: Projects with plans currently being examined by Development Review but not approved yet.
Released: Projects with approved site plans but not under construction.
Construction: Projects currently under construction.
Completed: Projects completed (projects that are at least 50% finished are considered complete.)

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Projects that Changed Status from January 1, 2000 through April 1, 2000:

1) New Projects: 13	Units
Alexan City View	308
Cahill Condos	60
Cumberland Place	7
Forest Hills	192
Independence Park	456
Jefferson at Lake Travis	240
Jefferson Canyon	309
Jefferson Center	652
Renaissance at Hunter's Chase	271
Southpark Apartments	192
Verandah at Grandview Hills	540
Villa at Nueces	19
Woods at Manchaca	46
Total Units:	3292

2) From Pending to Released: 14	Units
Archstone One	444
Creekside	46
Deer Park	390
Gardens at Balcones	59
Harris Ridge	340
Lime Creek Road	8
Maconda Park East	250
Norwalk Brownstones	6
Rock Harbor at Canyon Creek	288
Scharfe Townhomes	7
Shoreline Village	280
The Reserve at Congress	253
Valencia Apartments	358
West Drive Townhomes	8
Total Units:	2737

3) Began Construction: 12	Units
Archstone One	444
Harris Ridge Apartments	340
Le Grande Condos	7
Maconda Park East	250
Scharfe Townhomes	7
Spraddle Creek	430
The Reserve at Congress	253
Townhomes of Wellwood	84
Valencia Apartments	358
Village at Western Oaks Apts	122
Village at Western Oaks Townh.	50
Western Oaks Apartments	498
Total Units:	2843

4) Completed: 14	Units
Brock City Homes	4
Douglas Landing	98
Falcon Ridge	296
Goodrich Place Condos	10
Hill Country	446
Jefferson at Scofield, North	220
O. Henry Lofts (Avenue Lofts)	37
Riverlodge	498
Swisher Street Apartments	27
Trails at the Park	200
Vineyard Hills	202
Volente Villas	208
Westcreek Ranch	60
Whispering Valley	42
Total Units:	2348

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Download Data

• Multifamily analysis and data (Excel, 153 KB)
• Map of project locations (JPEG, 1.01 MB)

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Comments Please!

This document is not perfect. If you find errors, please send me an e-mail. I would be delighted to receive any feedback about this document.

Ryan Robinson, City Demographer, Department of Planning, City of Austin

See the most recent Mult-family Status Report