I was interviewed this week by Time Warner Cable News about the apartment building boom taking place in Central Austin.
I spoke about the fact that people are leasing apartments in the new complexes being built on North Lamar and Burnet Road before they are even completed. Demand is so great that the only way to get an apartment is to pre-lease before construction is finished.
The area has seen rental rates increase from $900 a month to $1,100 a month for a one bedroom in recent years. The area is popular in large part because of the MetroRail. Residents can get on the train at Crestview station and be downtown in just a few minutes. Apartments in this area are as nice as those downtown, but much more affordable.
The city will be undertaking an 18 month long study of the area along Burnet Road and Anderson Lane beginning in the fall to find out what area residents want for their neighborhood.