Luxury apartments planned for Round

Rock

Austin Business Journal - September 5, 2006

Developers will break ground later this month on a new 320-unit apartment complex in Round Rock.

Fort Worth-based Trademark Property Co. and Godfrey Residential Group of Bryan, Texas, purchased a 16-acre tract in the Teravista development at the intersection of I-35 and University Boulevard. The companies will jointly develop the $20 million-plus Melograno at Teravista, with the first units slated to come online in June 2007.

John Godfrey, president of Godfrey Residential, says the Teravista location is prime to capture the growth occurring in the immediate area, from the new Round Rock Higher Education Center campus and Round Rock Premium Outlet Mall to the Scott and White hospital under construction next door.

Melograno will be a luxury development featuring nine-foot ceilings, crown molding, garden tubs and a fitness center and pool with an outdoor cabana.

Godfrey and Trademark have already partnered on projects in San Antonio. This is the partnership's first project in the Austin market and Godfrey says they will continue to look for multifamily development opportunities in the area.