AHS Residential—a vertically integrated real estate company focused on developing, building, and managing multifamily communities—has closed on financing for the construction of its first development in the Austin, Texas, metro area. Comerica Bank, headquartered in Texas provided the construction loan.
Located in the Austin suburb of Hutto, AHS Hutto Square will include 204 units in seven three-story garden-style buildings. The development broke ground in January and is slated to be delivered in the second quarter of 2023.
“We are excited to be expanding our footprint beyond Florida and developing in the Texas market as the need for rental communities continues to be in demand,” said Carlos E. Gonzalez, chief investment officer at AHS Residential. “This is our first construction loan closing with Comerica Bank, a well-known financial services institution that focuses on relationships and helping people and businesses be successful.”
AHS Hutto Square will provide one-, two-, and three-bedroom floor plans with modern finishes, stainless steel appliances, and in-unit washers and dryers. It will be built with young professionals and families in mind and will feature assigned parking, a business center, and a multipurpose clubhouse with a swimming pool and a fitness center.
The Miami-based company, which ranks No. 21 on the National Multifamily Housing Council’s 2022 list of the top 25 builders, has a goal of delivering 8,000 new apartments annually by 2025. According to AHS Residential, it is on a mission to help solve the nation’s housing crisis by creating quality apartments in growing metros where many renters are being priced out.
