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

Amid skyrocketing housing expenses for renters, yet another micro-condominium project — developed to relieve the lease burden — is getting developed in Austin.

StoryBuilt, an Austin-dependent authentic estate developer, is placing up a creating in South Austin that will consist of 38 studio flats and 4 a single-bedroom apartments. Units at the task, called Bruno, will selection in measurement from 308 to 703 sq. ft the ordinary size is 411 square ft.

The venture, at 2001 S. Initially St. (former residence of StoryBuilt’s headquarters), will also attribute 3,000 square toes of ground-ground retail and commercial room.

Development is on track to begin this thirty day period, with completion scheduled for the next quarter of 2023. The project is in close proximity to South Austin fixtures Bouldin Creek Cafe and Polvos.

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

Bruno joins a handful of micro-apartment assignments that have been announced or are underway in Austin. For occasion, Watershed Development Group recently broke ground on a job with 60 micro-flats at 1812 E. Sixth St. in East Austin.

“The scaled-down device style we are setting up at Bruno is an beautiful possibility for the urban dweller that values a vibrant community and accessibility to the town all around them,” Wilson suggests.

Even though StoryBuilt hasn’t established rental charges nonetheless, the business says it aims to give “attainably priced housing” shut to downtown.

According to the RentCafe rental platform, Austin’s regular apartment hire in February was $1,735, with an regular device size of 865 square ft. Not astonishingly, the highest priced community for renters is downtown Austin. There, the typical hire in February was $3,163, RentCafe claims.

A report from real estate system Redfin reveals that among the 50 largest U.S. metro locations, Austin witnessed the major jump in rents (40 percent) from February 2021 to February 2022. Condominium Listing, nonetheless, says the Austin location saw a considerably more compact rise (23 percent) in rental costs from March 2021 to March 2022.
