Industry NewsRentals

Cedar Park growth continues with new luxury development

A $7.5 million investment in a joint venture will fund construction
  • Canyon Partners Real Estate LLC and The NRP Group LLC announced a combined investment of $7.5 million to go toward construction of a 337-unit apartment building.
  • Units in The Ranch at Parmer Lane will range from one to three bedrooms and feature granite countertops and stainless steel appliances.
  • Cedar Park is near many of the top companies in Austin but has a lower cost of living and higher livability rating.

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The growth of Austin continues with a new 337-unit luxury apartment community planned for construction just outside the city. On June 14, Canyon Partners Real Estate LLC announced a joint venture equity investment with The NRP Group LLC of $7.5 million that will go toward the construction of the luxury apartment complex. Construction will begin on the building in June in the city of Cedar Park, which is located about 17 miles from downtown Austin. Named The Ranch at Parmer Lane, the building will house one, two and three-bedroom units. Each unit is slated to have sleek and modern furnishings, including granite countertops and stainless steel appliances. Residents will also have access to parking. A total of 585 parking spaces are expected, which will include 78 carport spaces and 70 attached garage spaces. Units are expected to be ready by August 2017 and will feature most, if not all, of the amenities and add-ons that buyers and renters are seeking. A clubhouse facili...