New wave of student housing crests in West Campus

Oct 3, 2013
Austin American Statesman

University of Texas students living at the newly opened Callaway House can catch a movie by heading downstairs to the theater, which shows current films like “Lee Daniel’s The Butler.” The 24-hour gym boasts glass walls that roll back to let the breeze blow through when it’s not 90-plus outside. The rooftop pool overlooks campus and the UT Tower

These kinds of housing perks have become the norm in West Campus, a neighborhood once known for bungalows and frat houses. High-end high-rises began to pop up throughout the neighborhood almost immediately after city ordinances changed to allow buildings taller than three stories

Nearly 1,000 new units are in the pipeline at six complexes, most of them marketed as luxury student apartments that are now five years more modern than the 1,400 or so luxury student apartments that started opening in 2007

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

The rental rate in the neighborhood averages about $1.90 per square foot — 20 cents more than Central Austin as a whole

Most of the complexes in the neighborhood are considered high-end. Of the 31 properties in the 78705 zip code that West Campus is part of, 19 were considered Class A — the highest class — according to a September report by Austin Investor Interests

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