Area corridors budding with multifamily growth


Experts: development ‘far behind’ demand for rentals in Central 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.

Charles Heimsath of Capital Market Research—a firm that specializes in real estate research, land development economics and market analysis—said the commercial zoning lining the main roads into downtown Austin has allowed for the height necessary to build the projects, and high occupancy rates have encouraged new project development. Commercial zoning allows for building up to 60 feet in height, more than sufficient for a mid-rise apartment building, Heimsath said.

“With that zoning in place already and some positive demographic growth within the area and proximity to downtown, which has higher rental rates, the corridors that are leading in and out of downtown are becoming increasingly desirable for multifamily development,” he said.

Continue reading on the Community Impact

Excerpt from "Area corridors budding with multifamily growth" published on September 27th, 2012 on the Community Impact

Related Posts

New MAP Guide Released September 15 915 2011
HUD Takes Aim at Loan Delays March 1 301 2012
Certainty Of Execution March 2 302 2012
Dealmaker of the Day March 8 308 2012
Dealmaker of the Day March 8 308 2012
Multifamily Real Estate in Demand September 11 911 2013
Ohio Housing Conference October 24 1024 2013
RAD Program Updates January 28 128 2015
New MAP Guide Changes February 1 201 2016
Exciting Changes at HUD February 3 203 2016
HUD Construction Financing March 18 318 2016
VAHCDO Annual Conference March 19 319 2016
New LEAN Handbook May 23 523 2016
ahf-faq-5-copy_26562408-1.png Affordable Housing Finance FAQ January 11 111 2018
Top 5 Reasons We Love HUD January 31 131 2018