Korman Communities Brings Flexible-Stay Living to Austin Market With Acquisition of Newly Built 226-Unit Apartment Community
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AUSTIN, TX – Korman Communities, in partnership with Verde Capital, has completed the purchase of its first property in Austin, Texas. The brand new, 226-unit, Class AA property, AVE Austin, offers a unique, flexible living solution in North Austin, conveniently located between Downtown Austin and The Domain.
“This acquisition marks the first of many new ventures in the region,” said Bradley Korman, co-CEO of Korman Communities in the Philadelphia area. “We continue to focus on markets that best reflect where people want to live and work, buying and developing state-of-the-art residential real estate.”
The investment in AVE Austin is in line with Verde Capital’s continued pursuit of opportunities in high-growth urban and suburban markets.
“With its proximity to major educational institutions, medical systems and technological workplaces, this location offers the sustainable demand drivers that will make AVE Austin a sought-after property for decades to come,” said Jake Reiter, President of Verde Capital.
AVE Austin offers spacious one, two and three bedroom luxury apartments and fully furnished apartments combined with unparalleled on-demand business and resort amenities and a dedicated service team on site seven days a week.
“Austin is seeing an influx of new residents every year due to its growing labor market, so there is a real need for comfortable, flexible living options,” said Lea Anne Welsh, COO of Korman Communities and president of the AVE brand. “We’ve got you covered at AVE Austin – whether you need an apartment with furnishings month after month while you settle down, or you are looking for an unfurnished apartment long term.”
All residents enjoy free on-demand access to resort and business amenities such as a sparkling pool and barbecue stations, a state-of-the-art fitness center, a quiet courtyard with hammocks and a fire pit, a rooftop lounge with views of downtown Austin, pet Spa, cyber lounge, flexible workspace and private meeting rooms. AVE’s professional Resident Services team is on site seven days a week to help with everyday living needs and create a sense of community through concierge support, events and partnerships.
“Our goal is to manage world class communities where people can live, work and play,” says Welsh. “Everything we offer – from our attentive service, high-quality apartments, on-demand amenities to community events” is intended to ensure that our residents feel comfortable and cared for. ”
AVE Austin is centrally located in North Austin, just a few minutes’ walk from the Red Line, which has connections from Leander downtown with stops at UT-Austin and The Domain®. This state-of-the-art residential complex is convenient for commuting and has easy access to highways 35 and 183.
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