Mar 4, 2024
Legacy, Bridge Investment Group Open 483-Unit Austin Community
MHN
Camber Ranch is near major employers such as Samsung, Dell and Tesla.
Legacy Partners and Bridge Investment Group have brought online Camber Ranch, a 483-unit multifamily asset in Austin, Texas. The development team also included construction management firm Peritia Partners, architects Humphreys & Partners and HPA Design Group, the latter providing interior, branding and signage design services. According to Peritia’s website, the total investment amounts to $64 million.
Featuring 22 buildings across 35 acres, Camber Ranch encompasses studios and one- to three-bedroom units ranging between 438 and 1,487 square feet, according to Yardi Matrix data. Humphreys & Partners used a new concept it calls “breezestak building design,” a take on breezeways aiming to maximize rentable space, a company representative told Multi-Housing News.
Apartments feature kitchen islands and smart-home systems, as well as soaking tubs in select units. Community amenities comprise several pools, a fitness center, an e-sports area, a podcasting studio, a bicycle repair shop, a clubhouse, coworking space and a dog park.
Situated at 5005 E. Parmer Lane Manor, the community is less than 4 miles from Texas State Highway 130 and some 6 miles from U.S. Route 290, with downtown Austin being 13 miles away. Major employers such as Samsung and Dell are within a 4-mile radius of the property, while Ascension Medical Center and Tesla are both roughly 9 miles away. Residents have access to various dining and retail options such as Subway or Circle K. along East Parmer Lane.
Legacy’s current multifamily development portfolio in Texas exceeds 2,000 units. Last year, the company also opened opened Merit, the first building of a two-phase development in the Dallas-Fort Worth area.