Like the majority of Central Texas communities, the housing market in South Austin is hot! But did you know? Several of the busiest submarkets for residential home sales are in zip codes south of the Colorado River. Residential developers are taking note of the demand, and several boutique projects are slated to take shape in the area, offering some great opportunities for investors.
The North Carolina-based Hopper Communities is developing the most notable project affecting residential property investors. Dubbed “Cayena,” this 41-unit neighborhood is less than a mile away from the Yeti Coolers LLC headquarters and less than two miles from Advanced Micro Devices Inc. headquarters.
Additionally, the installation of new sidewalks along Southwest Parkway would allow Cayena residents to walk to nearby Lantana Place, an $80 million mixed-use development anchored by a Marriott A/C boutique hotel and a Moviehouse & Eatery dine-in theater.
Cayena is unique, as residential development in between MoPac and where Southwest Parkway ends into 71 is somewhat limited. The location enables residents to drive downtown in 10 minutes or to the Hill Country Galleria in about the same amount of time.
The first five homes, including a model home, are slated to be completed by the end of 2018, and this development represents an excellent opportunity for residential investors.
If you have questions or if you’d like to learn more, reach out to me anytime: (512) 721-1094 or dbrown@talkpropertymanagement.com.
Image credit: Hopper Communities website: https://www.hoppercommunities.com/locations/austin-tx/.
