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  • New micro-apartment project in the works for heart of South Austin
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New micro-apartment project in the works for heart of South Austin

By Janet M. Foster 1 year ago

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Amid skyrocketing housing costs for renters, yet another micro-apartment project — developed to ease the rent burden — is staying created in Austin.

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StoryBuilt, an Austin-primarily based actual estate developer, is putting up a developing in South Austin that will have 38 studio flats and 4 just one-bed room flats. Models at the challenge, called Bruno, will assortment in size from 308 to 703 square ft the typical dimensions is 411 sq. ft.

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The undertaking, at 2001 S. Initially St. (former house of StoryBuilt’s headquarters), will also aspect 3,000 square ft of floor-ground retail and professional room.

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Development is on monitor to start off this month, with completion scheduled for the next quarter of 2023. The undertaking is close to South Austin fixtures Bouldin Creek Cafe and Polvos.

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“Bruno is one particular of only a handful of micro-unit developments in Austin, and the only one particular in South Austin with this sort of proximity to downtown,” Ross Wilson, Austin and San Antonio division president of StoryBuilt, says in a news launch.

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Bruno joins a handful of micro-condominium tasks that have been announced or are underway in Austin. For instance, Watershed Progress Group recently broke ground on a project with 60 micro-flats at 1812 E. Sixth St. in East Austin.

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“The scaled-down unit form we are developing at Bruno is an appealing solution for the urban dweller that values a lively neighborhood and access to the city all around them,” Wilson states.

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While StoryBuilt hasn’t identified rental costs nonetheless, the corporation suggests it aims to give “attainably priced housing” shut to downtown.

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In accordance to the RentCafe rental platform, Austin’s regular apartment rent in February was $1,735, with an common device measurement of 865 sq. ft. Not incredibly, the best priced neighborhood for renters is downtown Austin. There, the average lease in February was $3,163, RentCafe claims.

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A report from authentic estate platform Redfin shows that amongst the 50 largest U.S. metro spots, Austin witnessed the largest leap in rents (40 p.c) from February 2021 to February 2022. Condominium Checklist, nonetheless, suggests the Austin location saw a significantly scaled-down rise (23 %) in rental costs from March 2021 to March 2022.



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