Coastal Ridge builds to rent in Austin

Midwestern firm to expand Stillwell brand with 20-acre development

Jerimi Nuckolls and Andy Lallathin (Coastal Ridge Real, iStock)
Jerimi Nuckolls and Andy Lallathin (Coastal Ridge Real, iStock)

Midwestern firm Coastal Ridge Real Estate is expanding its Stillwell brand to Texas. The company will develop a 20-acre build-to-rent community in Round Rock,18 miles north of Austin.

The homes will be part of Avery Centre, a 1,200-acre, mixed-use development. The planned community on the University Boulevard corridor will have 225 single-family homes arranged in what Stillwell calls a “horizontal apartment” or cottage community — freestanding, one- and two-story single-family residential units with private yards in configurations similar to those of a garden-style apartment complex. The houses will have one to three bedrooms, shared parking and community amenities such as resort style pools, walking trails and fitness centers.

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The project is a joint venture with Halstatt Real Estate Partners, a real estate private equity firm based in Naples, Florida.

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Several build-to-rent single-family communities are in the works near Texas’ large population centers. Dallas-Fort Worth investor ILE, which already owns 450 homes in Texas, plans 1,000 new single-family rentals in the metroplex by the end of the year. ONM Living has about 2,000 build-to-rent units in the pipeline for the area as well. Closer to Austin, California’s Banyan Residential is set to build a 34-acre community of single-family rental homes in Pflugerville, six miles from Round Rock.

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