Work starts on 328-unit, mixed-income apartment complex in southeastern Travis County

Construction has launched on an apartment complex in southeastern Travis County that will bring 328 units to the rapidly growing area.

Half of the units in the complex, called Ross Road for now, will be reserved for residents earning between 60% to 80% percent of the median household income in the Austin area. Once construction is further along and preleasing begins, the development will be fully branded with a new name.

The project is being built at 6205 Ross Road, near Texas 71 and east of the Texas 130 tollway and about a 20-minute drive from downtown. Also nearby are Tesla's electric vehicle manufacturing plant and Austin-Bergstrom International Airport.

That part of the Central Texas region is undergoing a major transformation, which continues to see exponential growth in population, jobs and income levels. Tesla's debut in the Austin market is a key factor fueling that growth, experts say.

The NRP Group, which develops, owns, builds and manages multifamily housing, is developing the Ross Road project. NRP is partnering with the nonprofit Travis County Facilities Corp. and PointOne Holdings, a real estate investment firm based in South Florida and Atlanta with properties across th e southeastern United States and Texas.

"Ross Road is a direct response to the tremendous growth that Southeast Austin and Travis County are experiencing," said Max Whipple, vice president of development at the NRP Group. "The influx of major employers like Tesla has only accelerated this trend, creating a critical need for high-quality, accessible housing options.”

The mixed-income community will provide essential workers, young professionals and families with market-rate and affordable housing, Whipple said.

“This development aligns perfectly with our mission to support the development of high-quality housing in Travis County,” said Patrick Howard, executive director of Travis County Facilities Corp. “We are proud to be part of an initiative that delivers accessible housing to the region’s growing workforce.”

The affordable housing units would be within reach of an individual with an annual income of between $52,920 (60% of the median) and $70,560 a year (80% of the median). For a family of two, the annual incomes work out to $60,480 (60% of median) and $80,640 (80% of median).

For a four-person household, the annual income limits are $75,600 at 60% and $100,800 at 80%.

"Despite the influx of multifamily supply over the last few years, we see strong demand for multifamily housing that will continue for the foreseeable future," Whipple said.

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The Austin area is a key market for the NRP Group. Its two recently opened mixed-income communities include the Markson, with 330 units at 5313 Vega Ave. in Austin, and Station42, with 368 units in Killeen.

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In Austin, NRP's Ross Road project was designed by architecture firm Lord Aeck Sargent. The complex will have four stories and a covered parking structure to maximize outdoor space.

Half of the site's 16½ 1/2 acres will be for greenspace and outdoor amenities, including a main courtyard with a pool, cabanas and outdoor games like ping pong and corn hole. There also will be two landscaped courtyards and a dog park overlooking a greenbelt.

For students and remote workers, the development will have co-working spaces with meeting and conference rooms. The complex also will have a fitness center and a chef’s kitchen for social gatherings.

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Ben Colonomos, principal of PointOne Holdings, said Ross Road "will significantly enhance the rapidly expanding neighborhood, providing residents with a best-in-market living experience and a wide range of community-focused and thoughtfully designed amenities."

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Since its start in 1994, NRP has developed more than 50,000 apartment homes and now manages more than 25,000 residential units.

This article originally appeared on Austin American-Statesman: Southeastern Travis County apartment complex geared to mixed incomes