AUSTIN, TEXAS (June 23, 2015) — Austin-based multifamily developer Oden Hughes has broken ground on a 312- unit Class A community in northern San Antonio.
Located in the Stone Oak area northwest of the intersection of Loop 1604 and U.S. 281, the Agora Palms Apartments are scheduled to open in mid-2016.
The community will include one, two and three-bedroom units ranging in size from 587 to 1,700 square feet. Rental rates are expected to range from $897 to $2,024 a month.
“In Stone Oak, our residents can enjoy top-tier schools, convenient shopping, hundreds of acres of parkland and trails, and a medical center right next door,” said Oden Hughes Managing Director Mac McElwrath. “Its close proximity to U.S. 281 and Loop 1604 offers an expedient commute to those traveling in and around the San Antonio area.”
The nearly 18-acre property is adjacent to the Stone Oak Medical Center, which includes two hospitals and nearly 50 private medical practices. Also close by is the Ridgewood Business Park, a 122-acre master planned business development anchored by the corporate headquarters of Fortune 100 company Tesoro Corp.
Amenities will include a resort style pool and sundeck, a 24-hour fitness center, a movie theater, and a dog park and dog washing station.
Oden Hughes Taylor will serve as the general contractor. Oden Hughes Management will lease and manage the property.
“This location enjoys the most affluent tenant demographics in the city, and continues to experience increasing demand due to the tremendous growth in neighborhood services such as the recently opened Trader Joes and new infrastructure,” according to Sean Sorrell, Senior Managing Director of HFF.
Agora Palms is the third San Antonio development for Oden Hughes, which broke ground on the 950-unit Landmark Grandview at the southeast corner of I-10 and Loop 1604 last year. The first phase of the project, consisting of 356 units, is scheduled to open in October.
Oden Hughes sold its first San Antonio project, the 350-unit Platinum Shavano Oaks in the Shavano Park neighborhood, in May.
About Oden Hughes LLC
Oden Hughes LLC is an Austin-based multifamily development, construction and property management company that focuses on Class A properties in the Austin, San Antonio, Dallas, Fort Worth and Houston markets. The company also offers value-add investments, design-build services, and general contracting. Founded in 2010, the firm focuses on multifamily development, construction and management in major Texas markets. For more information please visit odenhughesllc.com.
- San Antonio Business Journal, 6/23/2015, ‘Austin-based Oden Hughes Kicks Off 312-unit Residential Development in Stone Oak’
Austin-based Oden Hughes is adding a third San Antonio property to its portfolio.
- GlobeSt., 6/26/2015, ‘Oden Hughes Starts on Third SA Complex’
Oden Hughes breaks ground on a 312-unit Class A project in northern San Antonio.
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- Multi-Housing News Online, 6/25/2015, ‘Oden Hughes Starts Work on San Antonio Apartment Project’
The Agora Palms Apartments are scheduled to open in mid-2016.
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