As Austin anticipates an unprecedented wave of new apartments coming online, one developer is continuing to build into the storm.
Slate Real Estate Partners filed to build Settlers Ranch, a 358-unit multifamily project in Round Rock, one of the fastest-growing satellites of Austin. The development at 801 East Old Settlers Boulevard has an estimated cost of $65 million, according to the filing. The cost works out to about $182,000 per unit.
The project will include townhomes and apartments, as well as a dog park and pool. In all, it’s expected to span 446,000 square feet and wrap up work in June 2026. (Figures in Texas Department of Licensing and Regulation filings are often subject to change.)
Settlers Ranch will join a slew of new apartment buildings rising in north Austin. The region has long been home to the city’s technology sector, with growing interest from data centers and manufacturers. It will sit just off Interstate 35, which has become a major development corridor from San Antonio to Dallas-Fort Worth.
Austin-based architect Davies Collaborative is listed on the filing as the project’s design firm. Davies has designed several similar multifamily projects in the area.
Slate was founded by Ben Pisklak, Steven Webster and Mark Stevenson. The company has a hefty pipeline in the Austin-area, with 1,362 units under construction in high-growth areas like Buda, Leander and Cedar Park, according to its website.
A glut of new apartments has slowed rent growth and led many investors to question Austin’s multifamily market, at least in the near term. While that has not yet led to widespread foreclosure or deeds-in-lieu, it has made it harder for developers to find construction financing. Even those who can secure loans are facing tough options for leasing and refinancing once their developments are built. Coupled with high rates and development costs, the supply surge has significantly slowed new apartment starts across Texas.
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