Avistar at Wood Hollow Austin, TX

Investment Highlights

• Prime Location in Austin’s Northwest Hills Submarket
• Proximity to Major Employers and Economic Growth Drivers
• Property Qualifies for Low Income Housing Tax Credit in a Qualified Census Tract
• Median Household Income at $126,000 for Austin/Travis County
• $6MM in Recent Renovations and Value-Add Opportunity

Prime Location in Austin’s Northwest Hills Submarket

Avistar at Wood Hollow is a rare, large-scale asset featuring 409 units, located in the highly desirable Northwest Hills neighborhood of Austin. This submarket offers exceptional proximity to major employment hubs, retail centers, and lifestyle amenities. The property benefits from direct access to the North Mopac Expressway, just one mile south of US 183, and provides walkability to the primary commercial corridor along Far West Boulevard. Its central location offers convenient connectivity to both Downtown Austin and the North Burnet/Domain district, making it ideal for residents seeking access to work, entertainment, and shopping.

Proximity to Major Employers and Economic Growth Drivers

The property is just two miles from the corporate headquarters of National Instruments and regional offices of AT&T, which together employ over 5,800 workers. Additionally, Avistar at Wood Hollow is three miles south of the North Burnet/Domain district, a thriving business hub that houses four of Austin’s largest employers: IBM, ICU Medical, Samsung Austin, and Charles Schwab. These corporations contribute to more than 20,000 jobs, creating strong local demand for rental housing.

Within a 10-mile radius, several additional major employers bolster the area’s economic diversity. General Motors employs 3,678 workers, VISA provides 2,488 jobs, and ICU Medical supports 1,330 employees, spanning industries such as technology, finance, automotive, and healthcare. This breadth ensures a stable tenant base, reducing risk and safeguarding occupancy through different economic cycles.

Further enhancing the area’s long-term growth potential, Apple is investing $240 million into Phase II of its expansion, with a four-story, 203,941-square-foot facility scheduled for completion by early 2025. Located less than 10 miles from Avistar at Wood Hollow, this development is expected to generate 15,000 new jobs, reinforcing tenant demand and solidifying the area’s reputation as a key employment hub.

This prime location ensures long-term stability, rent growth potential, and enduring value for investors, driven by the ongoing influx of jobs and economic development across multiple industries.

Property Qualifies for Low Income Housing Tax Credit in a Qualified Census Tract 

Avistar at Wood Hollow offers significant financial incentives through a 100% tax abatement for qualified owners, with additional tax credits available for long-term ownership where 50% of households are earning less than 60% of the Area Median Gross Income (AMGI). The Qualified Census Tract (QCT) Affordable Housing Program provides funds for the preparation of land parcels, the production of affordable housing, and the rehabilitation and preservation of affordable housing units. The property also features a flexible rental strategy, with 75% of the units allocated for affordable housing and the remaining 25% available at market rate. This blend of affordability and market-rate units ensures high occupancy while maximizing rental income potential.

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