Simmons Vedder Begans Construction on 'Mosaic" Apartments at Mueller Austin

I received a press release yesterday regarding the Mosaic Apartments, which will begin construction at the Mueller Austin redevelopment in East Central Austin. Simmons Vedder will handle the high-end multifamily project, which is slated for completion late Fall 2008. (Pictured is the rendering I received).

The Mosaic seems like a nice apartment project, but it's not very exciting news. I searched Google News for the story and only found a few reports. Although interest is high in the Mueller Austin project, most people can't buy there because of the long waiting list.  There are already a few hundred home buyers in line for the second phase of the project, which will begin soon.

I guess this is one of the few instances where you may decide to rent instead of buy, but at least it's not by your preferred choice. 

Read more about Mueller Austin as well as my role in the project.

Link: Apartments debut at Mueller - Austin Business Journal

Comments

[ccosart]

I would say the main reason most people can't buy there is because the overwhelming majority of Austin families are priced out, whether there was a wait list or not...