By LYNETTE HAALAND, Four Points News
Construction has begun on Tacara Steiner Ranch, a 246-unit apartment complex at 4306 Quinlan Park Road North owned and being developed by Casey Development.
The project is being built on the terraced back of the hill on the 60-acre site that is facing Lake Travis. The property lies between the Canyon Glen neighborhood and Quinlan Crossing. Next to the site is 32 acres purchased by Hill Country Bible Church.
After more than three years in the works, the project is expected to offer its first units in summer 2016. The timetable of the project is 16 months, said Darren Casey, founder and CEO of San Antonio-based Casey Development Ltd.
“We are very excited to finally have the opportunity to execute our vision. We always strive to build a ‘best-in-class’ project and we will work diligently to make sure that Tacara at Steiner Ranch lives up to that billing,” Casey said.
The property will consist of 150 one-bedroom/one-bath units, 80 two-bedroom/two-bath units and 16 three-bedroom/two-bath units. Exterior materials will include stone and stucco with tile roofs on all amenity buildings.
Plans call for 10 buildings and a clubhouse with a total of 246 units and 234,822 rentable square feet. The average unit size will be 955-square-feet and rent for roughly $1.40/per rentable square foot.
All units will have quartz countertops with under-mount sinks, stainless steel appliances, walk-in closets, washers and dryers and hard surface flooring in kitchens, bathrooms and living areas.
Tacara will have a sign monument off of Quinlan Park Road and its main entrance through Quinlan Crossing.
Most of the site will be green space and include just over 7 acres of impervious coverage.
Research by Casey Development shows “strong demand” for the Tacara apartment project.
“Market demand is strong as seen by the performance of the competing assets. We are building in Steiner Ranch because we believe in our site and know it will be a great addition to the community,” said Tyler Sibley, development analyst with Casey Development, in an early report by Four Points News.
Sibley said there is “strong demand” for the type of apartment they are offering: Class A, luxury with a high barrier to entry and “supreme and dramatic views.”
“There is very clearly a significant amount of demand out there and not enough supply currently,” Sibley said.
Sibley expects that by the time Tacara’s units are ready, that the other new apartment units being built in the area, like Aria Steiner Ranch, will be absorbed.
For Tacara, potential tenant groups are expected to be younger families just having kids or getting married, and young professionals who live and work in the area.