Projects to bring 560 new apartments to South Austin

Oct 28, 2014
Austin American Statesman

Austin-based developer Oden Hughes said it has started construction on the second phases of two of its Austin apartment projects that will bring 561 new units to market south of downtown

Oden Hughes said it will add 285 units just south of its Landmark Southpark community near the Southpark Meadows shopping center off Interstate 35 at South First Street and Slaughter Lane. Units will start at $950 a month for the smallest one-bedroom and top out at $1,800 a month for the largest three-bedroom when the project debuts in October 2015

About 3 miles south of that, Oden Hughes also recently broke ground on 276 rental units adjacent to the apartment community formerly known as Landmark Double Creek. Oden Hughes completed Landmark Double Creek in 2013 and sold it last year to Toronto-based Brass Enterprises. The complex has since been renamed The Landing

The 276-unit project, which is on the north side of Onion Creek Parkway, is due to open in August 2015. Rents will start at $920 a month for the smallest one-bedroom unit, while the largest three-bedroom unit will rent for $1,750 a month

Both projects were planned as expansions of the company’s Landmark Southpark and Landmark Double Creek developments. However, the new complexes will operate independently under yet-to-be determined new names once they open

“Renters are increasingly looking at South Austin because of the area’s relative affordability compared to downtown and its close proximity to major employment centers, retail options and entertainment venues,” said Steve Oden, principal and co-founder of Oden Hughes, a development, construction and property management firm with a presence in Austin, San Antonio, Dallas, Fort Worth and Houston

With the new projects, Oden Hughes will have 800 units under construction in Austin. The multifamily developer currently also has two projects under construction in Houston totaling 726 units, and one in San Antonio that ultimately will have 950 units — the first 356 of which are now under way

Pat Jones, a real estate broker and principal at Apartment Realty Advisors, said he expects the two new Austin projects to attract strong interest

“With downtown rental rates continuing to escalate, the South Austin apartment market stays at least 95 percent occupied because it provides more value to the budget- minded luxury renter,” Jones said. “With these new projects Oden Hughes will again deliver luxury communities that appeal to renters who want to live within close proximity to downtown but want more space and amenities than downtown apartments typically provide.”

Oden Hughes Taylor Construction will be the general contractor on both projects. Oden Hughes Management will be in charge of leasing and operations once the projects are completed

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