PFLUGERVILLE, TX—On the heels of another land acquisition earlier this year, AHV Communities has acquired another site on which to develop 84 market-rate single-family rental detached homes. This time, the plan is for homes located in Pflugerville, one of the nation’s fastest growing cities in the greater Austin metro.
The new community, Village on Legacy, will offer residents a prime location for education and employment as well as shopping and entertainment. Targeted grand opening is anticipated in the third quarter of 2017.
“We recognize the strength of the North Austin market and are excited to be acquiring land to build single-family rental communities that will provide a new housing option to a growing region where housing is at a premium,” said Mark Wolf, founder and CEO of AHV Communities. “When considering sites, schools, retail, employment and transportation access are all very important to us. As the 11th fastest-growing city in the United States, Pflugerville has every key factor that makes for a great location.”
The one- and two-story homes at Village on Legacy will feature four plans ranging in size from 1,440 to 1,882 square feet. They will include three to four bedrooms, two-car garages with direct access, and front and back yards.
“We build our communities to provide a unique and better value proposition for residents seeking the flexibility of renting, the benefits of living in a detached home with the amenities and services of a class- A apartment community,” said Wolf.
Village on Legacy will offer a wide-ranging interior package less commonly found in rental homes and more commonly found in for-sale homes, including granite countertops, walk-in closets, washer and dryer hook-ups, and ceiling fans. Residents will also save on utility bills and enjoy increased comfort with energy-efficient features including energy-efficient stainless steel appliances, LED lighting throughout, tankless water heaters, and high SEER-rated central heating and air conditioning.
Residents will have many opportunities to enjoy the natural outdoors and surroundings, including a walking trail, dog park, fitness center, luxury pool, clubhouse and leasing center with Wi-Fi connectivity, open green space, and barbecue/picnic areas. Like all of AHV’s properties, the professional onsite management team takes care of yard maintenance, repairs and upkeep.
Spencer Rinker, co-founder and president of AHV Communities, tells GlobeSt.com: “Austin is experiencing high demand from consumers looking for an amenity-rich single-family home living experience without the hassle of long-term upkeep or a mortgage. Village on Legacy, like our other single-family rental communities, is designed specifically to fill what we believe is a large gap in housing today.”
As a hub for numerous technology businesses and companies, Village on Legacy offers close access to nearby major employers including Dell, AT&T, Apple and Samsung. Residents will be near schools in the Pflugerville Independent School District and have close proximity to tollways 45 and 130 with access to every point in Austin within 25 minutes, including downtown and Austin-Bergstrom International Airport. Entertainment and shopping options nearby include Hawaiian Falls Water and Adventure Park, Dell Diamond Baseball Stadium, Round Rock Premium Outlets and Stone Hill Town Center. It’s also within close proximity to the amenities, employment and entertainment of downtown Austin.
The expected renter profile encompasses a broad range of demographics including millennials, professionals and young families, along with move-down and active adults who live in the Greater Austin area.
“Increasingly, people are renting by choice particularly among higher-income households,” said Wolf. “We are meeting the demand by providing the right product in the right locations.”
Earlier this year, AHV Communities acquired the site located on the San Gabriel River adjacent to San Gabriel Park for Park on San Gabriel that will include 92 luxury single-family detached residences exclusively for rent.