The NRP Group Breaks Ground on New Community in Austin, Texas
13 Agosto 2024 - 9:29AM
Business Wire
Ross Road development to bring 328 mixed-income
apartments to rapidly growing East Austin market
The NRP Group, a vertically integrated, best-in-class developer,
builder, and manager of multifamily housing, in partnership with
PointOne Holdings and the Travis County Facilities Corporation
(TCFC), today announced the groundbreaking of a 328-unit
mixed-income multifamily development in Austin, Texas. Half of the
units will be reserved for residents earning between 60 to 80
percent of the Area Median Income (AMI).
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“This development is a testament to our commitment to create
inclusive housing communities where residents of all income levels
can thrive,” said Max Whipple, Vice President of Development at
The NRP Group. “As we celebrate our 30th anniversary and the
delivery of our 30,000th housing unit in Texas, East Austin’s Ross
Road development will provide the local workforce with the
opportunity to affordably live in the vibrant community where they
work.”
Ross Road meets the neighborhood’s growing demand for quality,
accessible housing for essential workers, young professionals and
growing families. It features an assortment of one-, and
two-bedroom apartments with high-end finishes. With close proximity
to Highway 71 and the 130 tollway, Ross Road provides quick access
to employment hubs in East Austin and a 20-minute drive to the
city’s downtown.
“We are thrilled to partner with The NRP Group on this project
to provide much-needed housing in East Austin,” said Ben
Colonomos, Principal of PointOne Holdings. “This development
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.
Designed by architecture firm Lord Aeck Sargent, Ross Road is a
4-story development with a unique covered parking structure to
maximize outdoor space. Half of the 16.5-acre site will be
dedicated to greenspace and outdoor amenities, including a primary
courtyard with a resort-style pool, cabanas and outdoor games like
ping pong and corn hole. Additionally, there are two landscaped
courtyards and a dog park overlooking the greenbelt to the
East.
For remote workers and students, the development offers
coworking spaces with multiple meeting and conference rooms. The
community also includes a double-height lobby and state-of-the-art
fitness center, and a community chef’s kitchen for social
gatherings.
“This development aligns perfectly with our mission to support
the development of high-quality housing in Travis County,” said
Patrick Howard, Executive Director of TCFC. “We are proud to be
part of an initiative that delivers accessible housing to the
region’s growing workforce.”
Austin remains a priority market for The NRP Group. Two recently
delivered mixed-income communities in the area include The Markson,
with 330 units, and Station42 with 368 units.
Construction of Ross Road is already underway. The community is
expected to deliver in 2026.
About The NRP Group
The NRP Group is a vertically integrated developer, owner,
builder, and manager of best-in-class multifamily housing with a
mission to create exceptional rental housing communities for
individuals and families, regardless of income. Since its founding
in 1994, NRP has developed more than 50,000 apartment homes and
currently manages over 25,000 residential units.
Through its disciplined approach to vetting opportunities, NRP
has established a track record of delivering impressive returns for
investors. The company’s formidable size and depth of talent
provide the experience and infrastructure necessary to execute
developments of varying degrees of complexity and scope in both
urban-infill and suburban locations, including market-rate,
affordable, mixed-income, and senior housing.
The NRP Group is consistently ranked in the Top 10 largest
developers and builders in the U.S. by the National Multifamily
Housing Council and by Affordable Housing Finance. The NRP Group is
a winner of the National Association of Home Builders Multifamily
Pillars of the Industry award for “Builder of the Year,” and a
four-time recipient of the same award for “Development Firm of the
Year.” The NRP Group has become the top multifamily developer in
the U.S. that creates both affordable and market-rate housing at a
national scale. Based on its nearly 30 years of experience and
expertise, NRP now provides construction and property management
services to outside owners and developers. For additional
information, visit www.nrpgroup.com.
About PointOne Holdings
POINTONE HOLDINGS is a real estate investment firm headquartered
in South Florida and Atlanta with properties located throughout the
Southeastern United States and Texas. The firm has acquired,
developed and managed a diversified portfolio of residential and
commercial assets valued at $2 billion. PointOne Holdings’ core
principles are founded on precise investment selection, thorough
due diligence, creative deal structuring, strong financial
management and proactive and responsive communication. For more
information visit www.pointoneholdings.com.
About Travis County Facilities Corporation
The Travis County Facilities Corporation (TCFC) is a non-profit
organization established in January 2001, authorized by the Texas
Local Government Code Chapter 303. The corporation works in
conjunction with the Housing Authority of Travis County to provide
public facilities in an orderly, planned manner and at the lowest
possible borrowing costs. TCFC has focused on affordable housing
and provides for the acquisition, construction, rehabilitation,
renovation, repair, equipping, furnishing, and placement of
affordable housing.
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MEDIA: Phoebe Schmidt Antenna | Spaces
nrpgroup@antennagroup.com