San Francisco Developer Building Apartments In North Austin

AUSTIN, TX — San Francisco-based developer Legacy Partners is building an apartment complex comprising nearly 500 units in North Austin, officials announced on Tuesday.

A privately held national real estate firm, Legacy Partners formed a joint venture with Bridge Investment Group to build Camber Ranch on Parmer, a 483-unit community at the southeast corner of Parmer and Yager lanes in the northeast portion of the city. The development is expected to break ground in December, with move-in expected to start in late 2022.

The two- and three-story community is spread out among 22 separate buildings across 35.23 acres, separated by a large greenbelt and wetland area that provides walking trails and peaceful views, as the developer described. Designed by Humphreys & Partners, Camber Ranch will be built with their proprietary Stak House and E-Stak building designs, which give the unique look and feel of a single-family building with direct garage access for many residences, officials added.

An exterior rendering of Camber Ranch on Parmer. Image courtesy of Legacy Partners.

“Camber Ranch on Parmer is designed to be one of the most innovative and forward-thinking communities in Northeast Austin,” Spencer Stuart, senior managing director at Legacy, said in a prepared statement. “We’re excited to move the development forward with our partners at Bridge Investment Group whose expertise and impressive track record will help to bring our shared vision to life.”

Camber Ranch residences will feature granite and quartz countertops, stainless steel appliances, stylized wood floors and LED lighting, the developers said in an advisory. Apartment homes will range in size from 438 square feet to almost 1,500 square feet, along with multiple homes provide direct access parking garages.

Residents will have convenient access to Parmer and Yager Lanes, including immediate access to Interstate 35. The community will offer large gathering areas, a demonstration kitchen, an E-Sport gaming center, podcast studios, a co-work-style business space with a mix of spacious and private work areas, and a convenient onsite micro market offering healthy snacks, drinks, fresh food, and sundries for purchase.

“Bridge is thrilled to be working with Legacy Partners on this exciting development,” David Coelho, Bridge’s Opportunity Zone CIO, said in a prepared statement. “Camber Ranch on Parmer has been specifically designed to offer residents the unique blend of modern Texas living. We’re confident that our partnership with Legacy will deliver an exemplary community of which Austin can be proud.”

Additional amenities include bicycle storage and a bike repair shop, a dog grooming salon and an expansive fitness center with a yoga/spin room that has a “fitness on-demand” system. Camber Ranch on Parmer’s outdoor amenities include large resort pools with an outdoor kitchen, grilling stations, and a snookball court.

About Bridge Investment Group

Bridge Investment Group is a privately-held real estate investment management firm with $20+ billion in assets under management. Bridge combines its 4,000+ person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and debt strategies. For more information, visit https://www.bridgeig.com.

About Legacy Partners

Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops and manages multifamily communities throughout the United States. Legacy has regional offices in California, Colorado, Florida, Texas, and Washington and has developed more than 60,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results.

Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion.

For more information, visit legacypartners.com.