AUSTIN – (Realty News Report) – Morgan, a Houston-based multifamily developer, will begin construction on a 336-unit apartment community in Georgetown, part of the fast-growing Austin market.
“Morgan opened a regional office in Austin last year to oversee and expand our Texas presence,” said Jason Hauck, Morgan’s Central Region Development Partner. “Caroline at Georgetown is our third multifamily community in Austin, with more projects on the horizon.”
According to ApartmentData.com, the multifamily market in the Austin area has rebounded faster than any other major metro in Texas.
Named Caroline at Georgetown, the three-story project will feature 16 residential buildings and on-site amenities, including a dog park.
“Look and Feel Local and National”
The design for Caroline at Georgetown combines a contemporary Hill Country aesthetic with modern farmhouse elements. The project will use Austin limestone and other materials sourced from nearby quarries to achieve a local, natural appearance, Morgan said.
Houston-based architecture firm W Partnership Inc. is the designer for Caroline at Georgetown.
Georgetown sits within a rapidly expanding area of North Austin suburbs.
Incredible Surge
“We’ve seen an incredible surge in demand in the multifamily market over the past three months as people return to the office and place more value on location and proximity to community amenities,” Hauck said. “The population around Caroline at Georgetown is well-educated and benefits from strong household incomes. New jobs north of Austin are continuing to draw people in that direction.”
Morgan, headquartered in Houston since 1959, maintains regional offices in Austin, Denver and Miami.
Apartment construction remains vigorous across Texas. In the Houston area alone, 80 communities totaling 22,368 units opened during the past 12 months, according to a May report from ApartmentData.com. Another 64 communities with 16,954 units are currently under construction, and 97 communities with 28,059 units are proposed in the region.
July 3, 2021 — Realty News Report. Copyright 2021.
For more about Texas real estate, see the book Houston 2020: America’s Boom Town – An Extreme Close Up by Ralph Bivins (ebook and print editions available).
Caption: Morgan Starts Austin Apartment Development in Georgetown
Image: Rendering courtesy Morgan. Architecture: W Partnership Inc.
File: Austin. Multifamily. Morgan Starts Austin Apartment Development in Georgetown. Texas. Quarries.