Quote:
Originally Posted by Austinite101
I can second this. While it is offering more in the way of supply, these apartments are nicer than the average "adult" apartment in Austin. The ones under construction will be much nicer. I wonder if it will cause the older mid-rises, which had previously been able to demand the higher-end rents before the most recent building boom, to become more price competitive aka 26 West, The Quarters, Pearl, etc.
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They'll absolutely have to shift to a more price competitive model. Freshman might suffer through dorm life but a lot of these newer buildings are luxurious not just in the units themselves but the amenities (pools, game rooms, study space, and lounges). From a price point perspective, "college living" might be the most lavish apartments students have until they escalate as professionals. For me as a student, I got into the Bowie right after construction at a really good price for a studio unit. At the end of the day, it's not
that much more expensive than what you might split with roommates for a 3 bedroom in one of these newer buildings. There are only a handful of college students in the Bowie that I've found but for a place like say the Moncarch, the rents on lower floors are actually starting to become comparable to WC. It will be interesting to see what the balance looks like. I pay a premium to live downtown and think it's a better area than near campus, which is just a short bus ride or walk away, but students may pay more to live near the university. So it goes both ways. Either way, if West Campus ever got even more mixed use as downtown expands, I could see young professionals and especially grad students (mid to late 20s) starting to populate some of these nicer buildings. I think we could also see younger doctors in the new medical district inflow to West Campus. Ironically students will get priced out.
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