Case Study: Standard at Austin
Delivered fall of 2021, The Standard at Austin is the newest off-campus living experience for students attending the University of Texas at Austin. Situated in the West Campus neighborhood, The Standard is centrally located less than a mile from campus with walking distance to Greek Row and the State Capitol. It is also nestled along an epicenter of residential and commercial density with an array of restaurants, bars, and shops on Guadalupe Street – a main thoroughfare only one block away.
Previously occupied by a 50-year-old student housing complex, this brand-new 17-story student housing high-rise is comprised of 287 units and 989 beds totaling 337,847 square feet, with parking for 490 vehicles at three below-grade levels, up to level four. The Standard has surpassed its occupancy goal and as of May 2022 was 97% occupied.
The lobby, leasing office, and 5,400 square feet of retail space are located on the ground floor with residential units on levels three through 17. The developer is an expert in the student housing market and understands the importance of creating community through interactive common spaces, proximity to campus and retailers, and delivering unmatched amenities. Resident perks include the convenience of ground-level retailers such as Rio Mart convenience store and local restaurant staples within the same block.
The Standard offers countless ways to promote both academics and community for a well-rounded and versatile living experience. A plush academic lounge on the second floor offers multipurpose seating and collaboration spaces for groups while a fully-equipped computer lab with Apple desktops and private study pods provides individual study time with multiple quiet spaces to hit the books. For private study space, all units are furnished with desks and seating inside each bedroom along with shelf space for study material.
CHALLENGES
In 2010, the city of Austin reported data that showed 78705, the zip code of UT and West Campus, as one of the most densely-populated areas in Austin, with projected growth between 10,000 and 40,000 people in the next 30 years. To address the growing demand for student housing in the West Campus area, The Standard delivers over 30 apartment layouts and the ability to house up to 2,000 residents.
To ease the stress of apartment hunting and to maximize occupancy, 3D tours of the entire property are offered online as well as virtual one-on-one meetings with an on-site specialist. The roommate matching service is also a popular resource for transfer and international students.
KEY HIGHLIGHTS
Packed with sought-after amenities, the community boasts 33,000 square feet of amenity space in the form of multiple clubhouse lounges – including a rooftop VIP lounge featuring modern interiors with an outdoor fire pit and custom seating, an outdoor deck with lounge hammocks, plus bike storage, coffee bar, game room, a pool deck on the 7th floor with a large TV viewing area overlooking the city skyline, a two-story main clubhouse, and state-of-the-art fitness/yoga rooms.
Two lavish courtyards sit atop the fifth-floor podium parking garage with outdoor gaming and various intimate lounge areas connected by a hallway in between. The grilling courtyard is outfitted with two stainless steel grills with sink prep stations, outdoor fire pits, Foosball table, covered pool table, and ping pong table. Both courtyards feature tranquil landscaping and string lighting, providing the ideal space to relax and connect with friends.
All units are fully furnished and range from studios up to six-bedroom apartment homes with a unique 1:1 bed/bath ratio. Double occupancy units are also available. They also provide private bedrooms with spacious closets, open-concept living rooms, stainless steel appliances, bar seating, an in-unit washer and dryer, and floor-to-ceiling windows. Rents range from $985-$2,227 per bed.