Developer Oden Hughes is building 660 units in a new apartment community that will be called Lenox Springs. 400 units are to be built along the I-35 southbound Frontage Road between Old San Antonio Road and FM 1626 and are expected to be completed next Fall. Another 200 units will be built at a later date.
The apartments are located near Hays County on the southern edge of Austin. Hays County is one of the fastest growing areas in the country.
The south submarket, which is south of Highway 71 between I-35 and Brodie Lane, has 13,089 units and has a 93 percent occupancy rate and average rent of $1,136.
Oden Hughes is also building Lenox Boardwalk, a new five story, 339 unit project at the corner of Pleasant Valley and Elmont Drive, a block from Lady Bird Lake. That project is in the southeast submarket, which is south of Lady Bird Lake to Highway 71 between I-35 and US 183. That submarket has a current inventory of 3,748 units, which makes it one of the smallest submarkets by inventory. The occupancy rate is 88 percent and average monthly rent is $1,052.
With the addition of Oracle’s new campus and estimated 500 to 600 jobs, rent is expected to increase in this submarket.
If you’re looking for a new apartment in Southpark Meadows and don’t want to wait for Lenox Springs completion, there are plenty great communities to choose from that put you right next to the shopping, dining and entertainment of this retail enclave.
Terraces at Southpark Meadows has units ranging from one bedrooms with 700 square feet to three bedrooms, two bathrooms with 1,348 square feet. Apartments feature gourmet kitchens with granite counters and stainless steel appliances, luxurious bathrooms with garden tubs, and the community has garages, covered parking and a jacuzzi.
The Asher is newly renovated and has apartments ranging from 556 square foot one bedrooms to 1,434 square foot three bedrooms. Apartments have quartz counters, garden tubs, nine foot ceilings, washer and dryer connections, wood-style flooring, and serene wooded views. The community has a relaxing outdoor fire pit with loungers, over fifty acres of lush landscaping and trails, and a resident lounge with billiards, shuffleboards, darts and skeeball.
Stonecreek Ranch Apartments has available garages, covered parking, a fitness center and a jacuzzi. Their one, two and three bedroom apartment homes range from 642 to 1,248 square feet and feature walk-in closets, garden tubs, and washer/dryer connections.
Onion Creek Luxury Apartments has one bedroom to three bedroom apartments ranging from 705 square feet to 1,380 square feet. It’s great for sports-lovers with a putting green, indoor basketball court, and a fitness center. There’s also a gated dog park and covered parking.
Ready to find your piece of Austin in an apartment in Southpark Meadows or beyond? Give Apartment Experts South a call today at 512-416-8100 and take advantage of our expert knowledge of vacancies, rent, and move-in-specials!