posted on November 29, 2010 22:04
The 512-unit former Limestone Ranch was re-opened Wednesday as the Orchard Apartment Homes.
The 26-acre former pecan grove sits near the Dell Inc. campus and is one of two owned by Houston-based Concierge Asset Management. The company completed an extensive renovation of the property at 2811 La Frontera and hosted a grand opening this afternoon, Nov. 17.
The changes included repainting interior and exteriors, new landscaping and building six cabanas by the pool and hot tub. The company also finished a new outdoor kitchen with two new grills and poolside Wi-fi access and the Orchard’s fitness center and computer room were renovated and expanded.
Some rooms were refinished with energy-efficient appliances, planked flooring and updated fixtures.
Rental rates start at $620 a month for a one bedroom, up to $1,045 for three-bedroom units. Current occupancy is at about 90 percent, up from 84 percent two years ago when the company acquired the property.
Concierge also manages a partnership that last month bought the 320-unit Melograno at Teravista.
"With the University of Texas and Texas State University as our neighbors, we have access to a highly educated workforce. Located minutes away to three major highways, our residents can avoid busy side streets and reach their destinations quickly,” Concierge CEO Ted Kerr said of the company choosing Austin.
11/17/10, Austin Business Journal