More housing being built around The Domain

Florida-based Mill Creek Residential Trust LLC moved dirt on Modera EaDo on Dec. 15. The 377-unit apartment community is located just east of The Domain and anticipates having its first move-ins by the summer of 2023.

The new community will be located at 11604 Stonehollow Drive, in a part of North Austin Mill Creek Residential is calling “East Domain.” Modera EaDo would be adjacent to the Charles Schwab office campus.

“The area surrounding The Domain is transitioning from largely industrial properties to a more pedestrian-friendly, mixed-use environment consistent with the city of Austin’s plan for the area and we wholeheartedly buy into that vision,” Bart Schaetter, managing director of development in Austin for Mill Creek Residential, said in a statement. “This pocket east of The Domain – which we are calling EaDo – will benefit from the success of The Domain proper similarly to how neighborhoods adjacent to vibrant downtowns in other metro areas benefit.”

Schaetter said Modera EaDo would be close to Q2 Stadium, nightlife options, breweries, restaurants and major employers. Some of those companies in the area include Amazon, Charles Schwab, Facebook, IBM and Indeed.

Modera EaDo is the latest development either announced or officially underway in North Austin. Philadelphia-based Brandywine Realty Trust recently began construction on an office and residential project called Uptown ATX, a $3 billion development on 66 acres across from The Domain. Other projects planned for Austin’s second downtown include Verde Square and Arena Tower.

Amazon Inc., meanwhile, announced on Dec. 21 it leased all 330,000 square feet of Domain 9 and plans to bring 2,000 new jobs to Austin’s second downtown area.

Modera EaDo’s 377 apartment units complement Uptown ATX’s residential component, bringing much-needed housing to an area ripe with commercial development. The first phase of Uptown ATX – One Uptown – promises to add 341 apartment units to Austin’s second downtown. Phase two of Uptown ATX, meanwhile, would add 529 more apartment units.

The 377-unit Modera EaDo community would also be less than a mile away from a MetroRail Red Line station to be built at Brandywine’s Uptown ATX development. 

The Mill Creek Residential apartment complex will offer studio, one- and two-bedroom units. Some of the units will have a private yard. On-site amenities include a co-working space, clubhouse, gaming area, pool, outdoor kitchen spaces and fitness center.

Modera EaDo is Mill Creek Residential’s third ground-up development in Austin. Other apartment communities within its portfolio are Modera Domain (2618 Kramer Lane), Alister Balcones (12215 Hunters Chase Drive), Alister Oak Hill (8800 U.S. 290) and Eastside Station (1700 E. Fourth St.).

The Boca Raton-based real estate company did unload its holdings at Woodmoor on South Lamar (3505 South Lamar Blvd.) and Zilkr on the Park (1900 Barton Springs Road).

In all, Mill Creek Residential’s portfolio featured 111 apartment communities and 30,500 units online or under construction in cities such as Atlanta, Boston, Charlotte, Dallas, Denver, Houston, Los Angeles, Nashville, New York Phoenix, Portland, San Francisco, Seattle and South Florida.

Courtesy of Austin Business Journal. See the full article here.