AUSTIN, TX - Masonwood Development Corporation and Trez Capital recently broke ground on South Street Villas, a 10.14-acre, build-to-rent, garden-style community located in Leander northwest of Austin. Masonwood is the developer of South Street Villas and Trez Capital is financing the project.
“The South Street Villas are ideal for working professionals, empty nesters and young families, and we’re excited to bring this new for-rent, luxury community to Leander,” said Jim Meredith, founder of Masonwood Development Corporation. “As the fastest growing city in Williamson County, the demand for quality build-to-rent homes in this area is on the rise, and we hope South Street Villas will meet this need.”
The South Street Villas will consist of 86 units within 43 for-rent duplex-style homes. The community will offer three distinct floorplans: The Martindale (1,505 square feet), the Marfa (1,543 square feet) and the Laredo (1,575 square feet). The energy-efficient homes will have modern features, like 9-foot ceilings, open floor plans, stainless appliances, sealed concrete flooring and granite countertops.
South Street Villas is strategically located just minutes from Highway 183 and local bus and rail stations, providing residents with access to the area’s major employment hubs and shopping centers, including an H-E-B. The community is also within walking distance to local restaurants, churches, parks and Leander ISD elementary and middle schools.
“Newly constructed build-to-rent rental communities, like South Street Villas, are appealing to renters who are looking for modern alternatives to the typical apartment experience,” said Jason Stowe, vice president, Origination at Trez Capital. “This is the second project we’ve financed for Masonwood, and we look forward to building on this relationship to bring more high-quality, for-rent homes to Central Texas.”
Gold Medal Property Management, a local and well-established property management company, will manage South Street Villas.
About Trez Capital: Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully-secured, high-yield mortgage investment funds and like investment assets, and provide property developers and owners with quick approvals on flexible short- to mid-term financing. Trez Capital has over $3.8 billion in assets under management and through its Dallas office, has funded more than $3.1 billion in loans. For more information, visit www.trezcapital.com
About Masonwood Development Corporation: Founded in 1993, Masonwood Development Corporation specializes in land entitlement and development for single family housing and communities in the greater Austin area. The company is dedicated to building state-of-the-art neighborhoods using efficient, effective and responsible development methods and business processes for continuous improvement. Through the company's relationships and its proven track record with leading national and local home builders, Masonwood has earned its strong presence in Austin's land development industry. For more information, visit www.masonwoodtx.com