Multifamily real estate firm responds to dramatic job growth with The Darby apartment community in Manor, suburb of Austin, along I-290
MANOR, TEXAS (August 17, 2022) – RangeWater Real Estate is excited to announce its first new-build development in the Austin, Texas area. The multifamily real estate firm is planning a community called The Darby, which consists of 326 apartments and 24 townhomes in Manor, one of the fastest growing suburbs in America.
RangeWater closed on the 25-acre property in May 2022 which is located near the Shadow Glen Golf Club and the Austin Executive Airport just off Interstate 290 in the Texas Hill Country.
The Darby will have 24 townhomes mixed in among 326 garden-style apartment homes featuring the beautiful outdoor amenities that today’s residents crave. Outdoor lawns, a dog park, pool, fitness center, firepits, grilling stations and club house are main attractions. The 3-bedroom, 2.5-bath townhomes will have garages and private outdoor areas, great for kids and dogs.
RangeWater purchased, renovated, and sold Eastside Station near Downtown Austin in November of 2020. This ground up development marks the company’s re-entry into the burgeoning market.
“This community is our return to Austin, a very competitive market in which to develop new homes,” said Steven Shores, Chairman and CEO of RangeWater. “Both the Austin region and state of Texas are growing at breathtaking rates, creating a huge demand for housing. We’re excited to plant our development flag here.”
Manor is attracting people working at new campuses nearby, from the $1.1 billion Tesla assembly plant to the $1 billion Apple campus and a new Amazon facility. But Austin’s cultural attractions, like South by Southwest and Austin City Limits, also are a beacon for new residents, creating an influx to the area.
“With more companies like Amazon moving in the area, we’re excited to develop a community with access to these billion-dollar campuses and fill the need for its rapid growth.” said Nick Wilhelmson, Managing Director of the Southwest Region.
Privately owned RangeWater was founded in 2006. The company acquires, develops, manages, and invests in multifamily communities across the Southeastern and Southwestern United States, with a $6.3 billion portfolio.
In the Southwest, the company is growing teams in Texas and Colorado which are leading development and property management. Projects are underway across Texas, Colorado, Arizona and Utah.
RangeWater is began construction on The Darby in June 2022, with plans to deliver the first units in the fourth quarter of 2023.