San Antonio-based Koontz Corporation has begun construction on an apartment community located on Farm-to-Market Road 306 in New Braunfels.
Plans call for The Moderno to be built out in two phases.
Phase I will comprise a 10-building complex totaling 253,000-square feet and 280 apartments.
Fifty-five percent of the residences in the first phase will feature one bedroom and one bath, and the balance will feature two bedrooms and two baths.
The residences will include things like nine-foot ceilings, quartz countertops, stainless steel appliances and balconies.
The developer says residents will have access to common-area amenities to include a fully equipped clubhouse with billiards, a state-of-the-art fitness center, a resort-style swimming pool with cabana, an outdoor grilling area and a parking surface with covered and garage parking options.
Opening on Phase I of the project is projected for March 2022.
“We have enjoyed great success in developing several class A multifamily products in New Braunfels that are located in close proximity to the I-35 corridor,” said Koontz Corporation President and CEO Bart Koontz. “The city has continued to enjoy tremendous growth in all sectors and possesses additional intrinsic features such as their rich German heritage, natural beauty, quality of life, good schools and a motivated workforce.”
Koontz Corporation purchased the 28-acre property last year from McCombs Properties. Mike Ybarra, of Legacy Commercial Real Estate in New Braunfels, brokered the sale.
Koontz said his firm chose the property because of its strategic location, just east of IH-35 with easy access to the Austin-San Antonio corridor, ample nearby restaurants, retail shopping options, an H-E-B Plus grocery store and health care facilities.
Due to its location, Koontz expects the development to attract young professionals and young families.
Koontz Corporation, which will act as the general contractor, recently broke ground and is grading the site and installing utilities.
Houston-based Garcia + Associates provided the architectural design.
Koontz Corporation usually has nearly a half-dozen multifamily projects under development in various parts of Texas at any one time.
Since its founding in 1997, the firm has developed 5,700 units totaling in excess of seven million square feet. In addition to multifamily, Koontz’s properties include office, medical office, industrial/flex and retail.
“New Braunfels is the second-fastest growing city in the nation by percentage and is becoming a major center for business and economic development, but it was always a wonderful place to live,” Koontz said.