Austin-based home builder Clark Wilson Builder set in motion plans to add to Travis County’s growing multifamily scene.
The developer published plans to start a 294-unit apartment complex in the Austin suburb of Pflugerville early next year, with completion expected by the end of 2024. The 263,300-square-foot multifamily complex will consist of 10 buildings connected to a clubhouse.
The estimated cost is about $48.7 million.
The Austin multifamily scene has been experiencing a record year of new construction and investment, with companies like CSW and Tides putting big money into new projects and acquisitions.
This rapid investment is likely the cause of Austin’s rampant housing market earlier in the year, which has only recently begun to normalize from its craze. The median home price in the capital city sits at around $563,000 as of September 2022, according to Redfin, up 2.6 percent from the previous year.
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