Austin’s hot multifamily market – student housing and ‘silver tsunami’
New apartment option for Longhorns
The University of Texas at Austin is a prime example of the current boom in student housing construction. An Axiometrics report in this ULI article estimates 1,486 new beds for the UT system this year, the third highest in the U.S. PRISM is working with architecture firm The Clerkley Watkins Group to promote a new complex that will contain 227 beds, to be completed in time for the Fall 2019 semester. Villas on Nueces is designed around the goals of luxury, affordability, and privacy. The animation by PRISM showcases the modern amenities of common areas, like an open-air spa mezzanine with a hot tub and grill kitchen, and a high-end fitness center. Click here to see the full animation. Living units range from studios to four-bedroom units; multiple renderings of the bedrooms illustrate the development's key differentiator, operable dividers between the beds for more privacy within shared bedrooms. Developer Brad Zucker registered the project in the City of Austin S.M.A.R.T. Housing program and will have 10 units designated as affordable. The complex will have 99 total units and parking for 267 cars, at an estimated construction cost of $18 million.
Urban resort living for Austin seniors
By 2050 people over 65 will represent more than 20% of the population, an increase of roughly 40 million people. This ‘Silver Tsunami’ is shaping the evolving look of senior housing. McKnight Senior Living and CBRE report that this group places a high value on lifestyle and expects the same of their housing. The Village at The Triangle in Austin plans to deliver on this expectation when it opens this September. The community will have 206 units for independent living, assisted living, and memory care senior living. The resort-style development totals 298,000 s.f. and is located within a walkable 30-acre mixed-use project just north of downtown Austin. The Village at The Triangle features numerous restaurants, lounges, an indoor saltwater pool, a theatre, and salons. Units range from memory-care efficiencies to 1,300 s.f. 2-bedroom independent living units with full-height glass walls, 9-foot ceilings, and extra-large balconies. Developers W2 Real Estate Partners and Bridgewood Property Company used renderings by PRISM to actively market the community and reach 60% pre-leasing. RCM Senior Living will manage The Village at The Triangle, House + Partners is the architect.
Rice Design Alliance new beginnings
The Rice Design Alliance (RDA) is the single organization in Houston to bring together academia, A/E/C, and the community to channel design into a means to transform our local surroundings. RDA recently introduced Maria Nicanor as Executive Director after the retirement of long-time leader Linda Sylvan. And earlier this month, RDA held their annual meeting and announced the 2018-19 Board and Officers. Congratulations to our long-term client Kevin Batchelor, Senior Managing Director of Hines, for election to the 2018 RDA Board. Hines developed Amegy Bank’s new headquarters tower, which we toured after the meeting. PRISM is a proud RDA corporate member, and we look forward to this new chapter of RDA. Thank you to all the staff and volunteers who make RDA such a valuable part of Houston’s design community.
Client spotlight
We are excited to introduce a new monthly section to our newsletter. PRISM works with dozens of creative and insightful clients doing transformative projects across the country. These firms entrust us to capture the essence of their visions through renderings and animations that bring the projects to life. In this section, we celebrate these firms, their passion, and their contributions to the built environment. MSA Architects is headquartered in Miami and has a second office in Costa Rica. The firm specializes in multi-family developments, delivering quality and value with an emphasis on marketability. PRISM has been serving MSA Architects for over three years, thanks to a referral from a Houston client. This short video showcases a small selection of the firm's extensive portfolio.
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