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-stay living solution in North Austin, conveniently situated between Downtown Austin and The Domain®.
“This acquisition represents the first of what we anticipate will be many new ventures in this region,” says Bradley Korman, co-CEO of the Philadelphia-area-based Korman Communities. “We continue to focus on markets that best reflect where people want to live and work, purchasing and developing state-of-the-art residential properties.”
The investment in AVE Austin aligns 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 technology jobs, this location offers the sustainable demand drivers that will make AVE Austin a sought-after property for decades to come,” says Jake Reiter, president of Verde Capital.
AVE Austin features studio, one-, two-, and three-bedroom spacious luxury apartments and fully furnished apartments coupled 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 job market, so there is a real need for comfortable, flexible living options,” says Lea Anne Welsh, COO of Korman Communities and president of its AVE brand. “We’ve got them covered at AVE Austin – whether they need a place to live month-to-month with furnishings while they get situated or they’re looking for an unfurnished apartment longer term.”
All residents enjoy complimentary, on-demand access to resort and business amenities featuring a sparkling pool and grilling stations, state-of-the-art fitness center, tranquility courtyard with hammocks and a fire pit, a rooftop lounge with downtown Austin views, pet spa, cyber lounge, flex workspace, and private meeting rooms. AVE’s professional Resident Services team is on site seven days a week to assist with day-to-day living needs and to create a sense of community through concierge support, events, and partnerships.
“Our goal is to manage first-class communities where people can live, work, and play,” says Welsh. “Everything we offer – from our attentive service, quality apartments, on-demand amenities, and community events,” is to ensure our residents are comfortable and feel taken care of.”
AVE Austin is centrally located in North Austin, walking distance from the Red Line providing service from Leander to Downtown with stops at UT-Austin and The Domain®. This state-of-the-art residential community is convenient for commuting, offering easy access to highways 35 and 183.
