Seven AMLI Projects Reach Stabilization Point; Austin Complex Leads Pack

AUSTIN-AMLI Residential has completed the stabilization and lease-up of seven apartment communities including Austin’s Monterey Oaks, which is nearly 95% leased.

Monterey Oaks is a 430-unit complex situated on 26.3 acres at the intersection of Monterey Oaks Boulevard and Brush Country Road. Apartments average 954 sf, with rents averaging $966 or $1.01 per sf per month. AMLI has a 25% interest in the community, with the balance being controlled by an unidentified institutional investor.

In Dallas, Bent Tree-Phase II is 93.5% leased. The 10.2-acre, 200-home community is located at the juncture of Vail and Accent Drive off Trinity Mills in Carrollton. The units, which average 995 sf each, have monthly rents averaging $866 or $0.87 per sf. AMLI is the sole owner of Bent Tree.

AMLI has also completed the initial lease-up and stabilization of AMLI at St. Charles in Chicago; AMLI Creekside, AMLI Wynnewood Farms and AMLI at Regents Crest-Phase II, all in Overland Park, KS; and AMLI at Lost Mountain in Atlanta. The AMLI portfolio includes 67 apartment communities, totaling 26,040 apartment homes. There are an additional 2,384 apartment homes under development.