R.E. Source
The Ranch House is underway in sw Austin at the southwest corner of Slaughter and Brodie Lanes, adjacent to the Bethany Lutheran Church. The class A complex will have 272 luxury units. Undoubtably this is going to put pressure on the traffic patterns in this area. Thankfully they are continuing the sidewalk on Brodie all the way to the corner of Slaughter which will make bike riding and walking at this intersection possible and safe.
With the 400 units added in the last couple years at Bella Vista, that brings the total of new families or individuals to almost 700…right here on west Slaughter Lane. I spoke to one of the leasing reps at that complex, and they only have 7 units available right now. Wow, how about that for a good occupancy rate! Rental rates are going to continue to climb in this environment. Bella Vista starts at $850 per month of a 1 bedroom/1 bath and goes to $1,535 for a 2/2 and even $1,855 for a 3/2.5. A typical 3 bedroom 2 bath 2 car garage home in this vicinity will lease for $1,200+ and that’s obviously going up, (if you bought that same home the payment would be closer to $1,100 – Go figure!) We’ll see how the rates are affected by Ranch House. My guess is not much, although if you couple this with the new apartment complexes on E Riverside that will bring the total new units to over 1,000 in the next year or so. I don’t know about you, but I would sure opt to live in a house with a garage everytime.
Also lets not forget the new “destination” area of Parkway Village. SW Austin has really grown up in the last few years.
It’s a good time for the city to start working through traffic flow improvements to the Slaughter/Mopac and Slaughter/Brodie intersections.
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