Austin Land for Sale - Central
STUDENT DEVELOPMENT, UNIVERSITY OF TEXAS
Bells Beach is a fully designed, shovel-ready student housing development in the heart of West Campus, just blocks from The University of Texas at Austin. Located within half a mile and less than a 10-minute walk from campus, the project spans a 0.36-acre site and is programmed for a 75-unit, 7-story student-oriented multifamily building with two levels of structured parking. With 181 bedrooms across a modern mix of studio to five-bedroom units and dedicated ground-floor commercial space, the project design maximizes yield while balancing walkability and lifestyle appeal. The building boasts a best-in-class amenity package and contemporary design, highlighted by a rooftop lounge and pool, rooftop pickleball court, modern fitness center, co-working and study spaces, and social gathering areas throughout. This development represents a rare chance to deliver institutional-grade student housing in one of the most supply-constrained corridors in Austin.
SHOVEL-READY, GRANDFATHERED DESIGN
Bells Beach comes with an approved Site Development Permit (SP-2024-0055C.SH) and fully completed architectural, structural, civil, MEP, and landscape construction drawings. The project was designed by Evolve Architects and Wuest Group to current code under SMART Housing guidelines, qualifying for UNO density bonuses including 100’ max building height and 90% impervious cover. This project was submitted prior to the City of Austin’s recent code amendment requiring all bedrooms in UNO developments to have windows, allowing for a more efficient unit layout and higher density. As a result, the design capitalizes on cost-effective interior bedrooms that are no longer permitted under current regulations. Developers can step in immediately and proceed to construction.
DOMINANT TIER 1 STUDENT HOUSING MARKET
West Campus is UT Austin’s premier student housing market and has maintained average occupancy over 96% for three consecutive years, even amid consistent new deliveries. The submarket is deeply supply-constrained, with less than 14% of UT students living on-campus, leaving over 46,000 students dependent on private housing options. Average effective rents have increased 25% since 2021, and pre-leasing velocity has exceeded 80% by June in each of the past three cycles. Located across from Noble 2500 and surrounded by fraternity/sorority houses, the site sits at the heart of UT’s social and academic core, making it a compelling target for purpose-built student housing developers seeking a proven, recession-resilient market.
