New 76-unit apartment complex adds more density living to Central Austin

BOUTIQUE LIVIN'

Photo courtesy of The Geyser Group

Austinites who want to have a sophisticated experience while living near the heart of the city can find it in a newly-constructed, multi-family development complex in Highland this April.

The Johnny apartment complex will begin leasing their 16 affordable housing units and 60 market-rate units on April 1, according to their website. Located at 613 West St. John’s Avenue, the complex is just an eight-minute walk (less than half a mile) from the Metro Rail’s Crestview Station, making it a great transportation option for residents.

Construction of the complex began in November 2022, with design and development done in a partnership between Austin-based real estate firms The Geyser Group and Sephira Group.

“The Johnny will provide residents with sophisticated living in a boutique development that offers an alternative to the large 300-unit plus communities that saturate the market,” said Geyser Group CEO Michael Bernstein in a press release.

Every unit was designed to have the look and feel of a condominium, with quartz countertops, energy efficient appliances, smart lock technology, valet trash services, and more.

Other features of the complex include:

A “wellness balcony” consisting of a deck and hot tub swim spa
Rooftop terrace and outdoor kitchen
24-hour fitness center
Community courtyard
Covered parking
EV charging stations
Coffee bar

More information about the apartments can be found on their website.

Photo by Cosmic Timetraveler on Unsplash

Austin's apartment construction rate is the highest in the nation, says new report

LAND OF MANY HIGH RISES

If you think new apartment buildings have been popping up nonstop all around the city within the last couple of years, you’d be right. The Austin-Round Rock metro area is experiencing one of the biggest apartment construction booms in the nation, in an effort to alleviate an ongoing affordability crisis.

But while increasing multi-family housing is solving part of the problem, long term it keeps homeownership out of arm’s reach for younger Americans. That’s according to a new report from apartment rental “matchmaker” and marketplace Apartment List.

Austin has spent decades building more housing for its residents, and 2022 saw the highest number – 18.3 – of new unit permits being issued per thousand residents. Austin’s rate is three times larger than the average rate in 50 of the largest American metros.

The top five cities that had highest number of new unit permits issued per 1,000 residents in 2022 include:

No. 1 – Austin (18.3)
No. 2 – Raleigh, North Carolina (14.9)
No. 3 – Jacksonville (14.1)
No. 4 – Orlando (10.7)
No. 5 – Houston (10.5)

In Apartment List’s comparison charts, 2021 saw the biggest-ever leap in Austin-Round Rock area housing units permitted for the year, with 24,000 single-family permits and 26,000 multi-family permits issued.

2022 saw a dramatic decrease in both housing options with 3,000 fewer multi-family permits being issued for the year, and 4,000 fewer single-family home permits.

Furthermore, a majority of those housing permits issued last year were not in the city, but in the surrounding area. Only 43 percent of 2022’s housing unit permits were issued in Austin proper, which is a six percent increase over 2021. This spells out the struggle for affordability the inner city has experienced in recent years.

The year that had the most housing permits issued in Austin proper versus the surrounding area was 2013, at 57 percent. Those percentages have dwindled into the 40s since then, with 2021 being the lowest in the last decade.

Austin’s apartment construction boom has not shown signs of slowing, even with concerns about single-family home buying, according to the report. The city has topped the per-capita permit activity ranks for six consecutive years, and has never been outside the top three since 2006.

The full report can be found on apartmentlist.com.

Photo courtesy of TexasApartmentRentals.com

Austin rent prices increased nearly 10 percent from 2022, report finds

RENT'S DUE

Apartment rent keeps going up in Texas, and in Austin the increase is nearly 10 percent more than last year, making it increasingly difficult to afford living in the city. That’s according to a new national rent report from online rental marketplace Zumper.

Despite rent increases showing a small slowdown month-over-month, overall prices are still on the high side from the previous year. For example, the average rent for a two-bedroom apartment in Austin is $2,070 now, in March of 2023, which is a one percent increase from the previous month, but a nearly 10 percent increase from 2022 at 8.4 percent. The average rent for a one-bedroom is $1,670, which is a mere .60 percent increase month-over-month, but a whopping 7.7 percent increase from last year.

The report looked at rental data from more than one million active listings in the top 100 cities in the United States to determine the rankings. Zumper ranked Austin the No. 25 most expensive rental market across the nation in February of 2023, up two places from the last report.

The report attributes these recent rental increase trends to the nation's rising inflation rate and unpredictable economy. Though unemployment is low (less than 3.4 percent), potential homebuyers are being sidelined with increasing interest rates. This is causing more competition among renters all over the country.

“Many markets continue to either normalize or correct following the steep increases in rent seen in 2021 [and 2022] in the zero interest rate [and] QE environment we went through,” said Zumper CEO Anthemos Georgiades in the report. “With interest rates expected to rise further in 2023, we anticipate continued deceleration in rent rises as new household formation freezes or is at least postponed.”

Much further down the list from Austin is San Antonio, coming in as the No. 66 most expensive rental market, which is a three-place increase from a previous report. Average rent for a one-bedroom apartment stayed relatively flat over the last month, at $1,160, yet is still 7.4 percent higher than it was last year. Two-bedroom apartments saw a smaller year-over-year increase at 4.4 percent, with the average rent price at $1,430.

Several cities in the DFW metro area also made the list, as well as Houston (No. 51) and El Paso (No. 95). Most notably, Irving (No. 34) is experiencing a nearly 15 percent year-over-year rent increase for both one- and two-bedroom apartments.

The nine total Texas cities that made the list include:

No. 25 – Austin
No. 34 – Irving
No. 36 – Dallas
No. 40 – Plano
No. 51 – Houston
No. 55 – Fort Worth
No. 66 – San Antonio
No. 67 – Arlington
No. 95 – El Paso

The full data from Zumper’s National Rent Report can be found at zumper.com.

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Dip your toes into these 7 Austin pools with passes, snacks, and summer events; plus more top stories

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Editor’s note: It’s that time again — time to check in with our top stories. From hotel pools, to museums, to a show-stopping Hill Country rental, here are five articles that captured our collective attention over the past seven days.

1. Dip your toes into these 7 Austin pools with passes, snacks, and summer events. The city is getting unreasonably hot again; It's time to start planning poolside hangs, which are even better with a cocktail.

2. Breathtaking Hill Country hideaway is one of Vrbo's top 10 vacation homes in the country. The retractable floor-to-ceiling glass windows are a nice touch in this $400-a-night house.

3. 6 Austin museums are offering free admission for military families all summer long. These organizations want to help military families spend more time together without breaking the bank.

4. Space-inspired screenings invade Austin Film Society ahead of Wes Anderson's upcoming release. Austinites looking forward to the June 16 release of Asteroid City can soak up the inspirations and watch a sneak peek screening.

5. Texas ranks No. 2 best state to start a small business in new report. The state's tax framework makes the finance side of running a business relatively easy.

4 Austin-inspired cocktail recipes to whisk you away from the Texas heat this summer

SIP SIP

Now that summer weather has arrived in Austin, we can tell you’re thirsting for some new drinks to try. And with World Gin Day coming up on June 10, we’re sharing a few recipes from local Austin restaurants (and Austin’s favorite Topo Chico!) we hope you’ll enjoy.

The following recipes feature some of our favorite ingredients or mixers we’re loving at the moment. Whether your drink of choice is a cocktail or mocktail, we’ve gathered four bright and bubbly beverages to help whisk you away from the Texas heat. And if you prefer to drink them rather than make them, three of these lovely libations can be found on the seasonal summer menus at their respective restaurant.

Aba’s Rhubarb Rose Gin and Tonic
This cocktail was created by Senior Beverage Manager Thomas Mizuno-Moore.

Ingredients:
½ oz lime juice
¼ oz honey syrup
½ oz Fruitful Mixology rhubarb liqueur
¾ oz Brockmans Gin
¾ oz Hendrick’s Flora Adora
2 oz tonic water
Rosebud tea, for garnish

Directions:

Combine lime juice, honey syrup, Fruitful Mixology rhubarb liqueur, Brockmans Gin and Hendrick’s Flora Adora in a cocktail shaker. Add ice, shake until cold.
Add tonic water to the shaker, then strain over fresh ice in a double old fashioned glass.
Garnish with rosebud tea and enjoy!

Blueberry Sparkler Mocktail by Topo Chico Because everyone needs a good go-to mocktail recipe in their life.Photo courtesy of Topo Chico

Blueberry Sparkler Mocktail by Topo Chico
This beverage might not be gin-themed, but it does make a great refreshing mocktail. If you don’t have Topo Chico Sabores on hand, you can substitute it with sparkling water.

Ingredients:
1 Blueberry Topo Chico Sabores
1 cup fresh blueberries
1 tablespoon granulated sugar
½ cup water
½ oz freshly squeezed lemon juice
Lemon slices and additional blueberries, for garnish

Blueberry Syrup Directions:

In a small saucepan, combine the blueberries, sugar, and water. Cook over medium heat, stirring occasionally, until the blueberries are soft and the sugar has dissolved, about 5 minutes.
Remove the saucepan from the heat and allow the blueberry mixture to cool for about 10 minutes.
Once cooled, use a fine-mesh strainer to strain the blueberry mixture into a bowl, pressing on the solids to extract as much juice as possible. Discard the solids and set the blueberry syrup aside.

Mocktail Directions:

In a cocktail shaker, combine 1 ounce of the blueberry syrup, and lemon juice. Fill the shaker with ice and shake well until chilled, about 15-20 seconds.
Fill a glass with ice and strain the mixture into the glass. Top off the glass with Blueberry Topo Chico Sabores (or sparkling water) and give it a gentle stir to mix.
Garnish with lemon slices and additional blueberries, if desired. Enjoy your refreshing Blueberry Sparkler!

Tillie's seasonal summer cocktail This colorful cocktail is a lively take on a gin martini.Photo courtesy of Tillie's at Camp Lucy

Empress Gin Martini by Tillie’s at Camp Lucy
This martini recipe was developed by Paolo Lazarich, the mixologist for Abbey Row Restaurant at The Old Bell Hotel in the United Kingdom. Fun fact: Camp Lucy owners Kim and White Hanks also own The Old Bell Hotel, which is rumored to be England’s oldest hotel.

Ingredients:
3 oz Empress 1908 Gin
1 oz dry vermouth
Splash of lemon juice
Lemon and rosemary for garnish

Directions:

Add the Empress 1908 Gin, dry vermouth, and lemon juice to a glass and stir gently.
Garnish with a lemon wedge and a sprig of rosemary. Enjoy.

$\u200bSummertime Spritz by Dean's Italian Steakhouse$ There's nothing like a summer spritz.Photo courtesy of Dean's Italian Steakhouse

Summertime Spritz by Dean's Italian Steakhouse
This recipe is geared toward a mixologist who enjoys the little details that make a cocktail so unique, such as making their own oleo saccharum or curating the perfect flower as a garnish.

Ingredients:
½ oz lemon juice
½ oz strawberry oleo saccharum
¼ oz Aperol
¼ oz Giffard Abricot
1.5 oz Zephyr Gin
2 oz Brut champagne
1 each cocktail flower

Directions:

Combine all ingredients except Brut champagne into a cocktail shaker. Fill the shaker with ice and shake vigorously, about 15-20 seconds.
Fill a wine glass with ice and add the Brut. Fine strain the cocktail into the glass.
Garnish with the cocktail flower

Extravagant estate in West Austin hits the market for $4.25 million

ON THE MARKET

An imperial estate in the Lost Creek neighborhood of West Austin has become the latest addition to the city's stabilizing real estate market. The property was listed at $4.25 million.

The magnificent three-story home was originally built in 2009, making great use of Austin's Hill Country views that can be seen from every single room. The home spans 8,215 square feet on just over two acres of land, surrounded by lush trees and enclosed with a private gated entrance.

Natural light floods the inside of the home, highlighting intricate details and complimenting the high ceilings. The home boasts five bedrooms, four bathrooms, and three half-baths. The primary suite is reminiscent of an upscale resort, containing its own spa-like bathroom, walk-in closets, and access to a private balcony.

In the kitchen, the 60-inch wolf range is an aspiring chef's dream. The area has plenty of space and storage with its rich brown cabinets, a sub-zero refrigerator, a cabinet-mounted wine rack, two sinks, and more.

8105 Talbot Lane in Austin The 60-inch wolf range is an aspiring chef's dream.Photo courtesy of JPM Real Estate Photography

A few other highlights of the home include a game room, media room, terraces, and a resort-style pool deck with an accompanying hot tub, kitchen, and fire pit. The two-car garage also includes a guest suite above it, with a single bedroom, kitchenette, and half bath.

Looking into the property's history, it was listed in June 2022 for $4.9 million, which was reduced to $3.9 million by September. The home was reported as sold in October of that year before being re-listed for its current $4.25 million price in 2023.

Photo courtesy of JPM Real Estate Photography

The estate is located at 8105 Talbot Lane in West Austin.

The estate is located at 8105 Talbot Lane, which is a brief 10 minutes from downtown Austin, and is zoned for the highly-esteemed Eanes Independent School District. The listing is held by agent Wade Giles of Douglas Elliman.

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