More than 1,000 apartment units to join Victoria's tight housing market
Aug. 13, 2014 at 3 p.m.
Searching for an apartment is about to get easier.
Victoria's housing market has seen a growing shortage in single family housing and multifamily housing for the past few years. Apartment offices had wait lists for openings and tenants had few options for rentals.
Since last year, six apartment complexes have announced projects in Victoria, with one complex welcoming new tenants this month.
Here's a breakdown of what to expect:
Address: 8311 NE Zac Lentz Parkway
Number of units: 240
Dave Meaden, Central Texas managing director of Ascension Commercial Real Estate, said the Victoria Apartments project is on schedule.
The construction is being done by a company from San Antonio that Meaden is confident will make sure everything is done right and on time.
"We were looking to having the leasing center and first building with about 24 units ready by early next year," he said.
Within the first two months he expects 48 units to be available. There will be one-, two- and three-bedroom floorplans available.
"We look forward to getting it up and open," Meaden said.
Rent for the Victoria Apartments have not yet been set, but he said they will be ready in the near future.
Address: 301 Parkstone Drive
Number of units: 252
Peter Caye III, managing partner of the Giddings Group, said The Duke project is on schedule.
"Everything is on track and looking good," he wrote in an email. "We should be in the clubhouse by fall with units available soon thereafter."
Prices were not disclosed, but he said that inquiries could be made through a leasing agent or by visiting TheDukeTX.com.
Address: 8602 NE Zac Lentz Parkway
Number of units: 96
Nancy Garner, who owns The Reserve Apartments with James McHaney, said the complex will have tenants moving in this weekend.
"There are a lot of things still going on, but we were excited to get them in," Garner said.
Construction on The Reserve started last fall and ran into a few hiccups with wet weather.
"It only rains when you don't need it to, and it never rains when you plant grass," she said.
The project was behind schedule when the foundation was being poured as a result of the rain, Garner said. The city's development office recently issued The Reserve a certificate of occupancy for the office and first building. The first 24 units are already leased.
Floor plans include a total of 96 one- and two-bedroom floor plans with different amenities.
She hopes to have the complex completely open by the end of September. Rates were not disclosed.
Address: 4109 N. John Stockbauer Drive
Number of units: 180
Attempts to reach representatives for The Colony were unsuccessful.
The project started last summer and is nearing completion. According to its website, the apartments are set to open this summer.
The Colony will offer 180 one-, two- and three-bedroom units complete with granite countertops, a pool, fitness center and playground equipment.
Address: 1601 N. John Stockbauer Drive.
Number of units: 180
Construction for Latigo Crossing - named after part of a riding saddle - started in February and is expected to open its clubhouse and first building with 20 units this fall, said Kennis Ketchum, president of Portfolio Development, based out of Dallas.
"Our location and our amenities will make it a great place to live," she said. "We have really thought through the quality of life."
Amenities include a pool area, carports, detached garages, a dog park and more. Each unit will have nice lighting, ceiling fans, patios right down to the water pressure.
"It makes a difference; its nice to take a shower with good water pressure," she said.
The dog park is also something Ketchum works to include in most of the apartment complexes Portfolio Development builds across Texas.
"It's nice to let your dogs off the leash and let them run," Ketchum said. "Victoria is a market that needs good product."
The prices have not been set for Latigo Crossing but will be set to reflect the market rate in Victoria.
Oak Forest Apartments
Address: 5312 N. John Stockbauer Drive
Number of units: 264
Larry Waters, Construction advisor with FM Forrest Inc., said the construction project is on schedule.
If there are no major delays in the construction process, Waters said the clubhouse and first building with 24 units will be open by early 2015.
Heavy rains in the spring delayed the groundwork slightly, but he said the project is continuing as planned.
"These are normal construction issues that come up," Waters said.
Oak Forest Apartments is a two-phase project, which includes a total of 456 units when it's completed. The first phase will offer 264 one- and two-bedroom units.
"We're making pretty good headway," Waters said. "We are trying to work as fast as we can."
He said the dog park will be included in the second phase of Oak Forest. It will also include a building specifically for special amenities.
A date has not been set for the second phase and that it would depend on how quickly the units are leased.
Prices are not yet set for the apartment, but leasing is set to begin in December.
"I believe it will be leased pretty quickly," Waters said.