2012 Austin Apartment Forecast Luncheon Re-Cap

On Tuesday, April 17, 2012, Hire Priority Staffing proudly sponsored and organized the Austin Apartment Association’s Learn at Lunch event. The gathering drew a large audience of onsite management professionals and executives from across the Austin apartment industry. The event took place at IMT Monterey Ranch and provided valuable insights into key industry topics.

Three distinguished speakers—Adam Hamilton, Loyal Proffitt, and Charles Heimsath—shared their expertise with attendees. Each presentation offered a unique perspective on current trends, challenges, and opportunities within the multifamily market. Below is a summary of their discussions and the valuable information they provided to the Austin apartment community.

Adam Hamilton: Vice President Development, Grayco Partners

Topic—New Construction: South Shore Austin

• Adam Hamilton discussed South Shore Austin, a new luxury apartment community featuring a vibrant retail section. The property is located on East Riverside Drive, just minutes from downtown and Lady Bird Lake. Its prime location combines urban convenience with scenic surroundings, making it an attractive destination for residents.
• Adam shared that South Shore has invested heavily in infrastructure development—approximately nine million dollars. These improvements include the construction of new roads and a regional water quality pond, both designed to support the growing community and enhance the area’s long-term value.
• What truly sets South Shore apart, Adam explained, is its ability to offer a diverse product mix. By creating distinct living options at various price points, the community appeals to a broader range of residents. Each parcel provides a different style and experience, allowing South Shore to attract a wide demographic while maintaining a cohesive, high-quality brand.

Loyal Proffitt: Executive Vice President, Riverstone Residential

Topic—Fee-Management

• The first topic Loyal Proffitt addressed was “What Is Happening at Ground Level?” He explained that higher occupancies and larger rent increases are taking place across the market. These positive trends indicate that conditions are “lined up for us,” and now is the time to “take advantage of the fundamentals.”
• This naturally led to the question: “So, what do we do?” Loyal’s advice was to step outside your comfort zone and think like an owner or asset manager. He encouraged apartment professionals to continue raising the level of the resident experience while simplifying their overall focus.
• Finally, he asked: “How do we simplify focus?” Loyal emphasized the importance of truly understanding your business from every angle. Know your client and investor. Highlight the strengths of your product. And above all, remember that “we are and will always be a people business.” His message served as a reminder that success in property management begins and ends with strong relationships and a clear understanding of your mission.

Charles Heimsath: President & Founder, Capitol Market Research

Topic—Austin Apartment Market Overview

• With over 30 years of industry experience, Charles offered an-in-depth analysis of the Austin market. He described that the market has characteristic cycles every seven years or so in which the occupancy rate peaks and falls.
• Over the last 20 years, the Austin market has more than doubled in size, with an average occupancy rate of 94.2%.
• Notably, Charles gave his forecast for the Austin apartment industry: the market will not be overbuilt—due to the financial industry’s underwriting regulations—and there is a 95-96% average occupancy expected in the next 3-5 years.

Each of the three speakers brought a unique perspective and area of expertise to the discussion. Despite their varied backgrounds, they all shared one message—optimism about the future of the Austin apartment market. With steady job growth, new construction projects, favorable market conditions, and rising occupancy rates, the outlook for the industry remains strong. The consensus among the experts was clear: the Austin multifamily market is positioned for continued success and expansion.

Hire Priority Staffing is a national search and staffing company specializing in the placement of apartment industry professionals, as well as healthcare and administrative support personnel. The company is proud to support events that strengthen and inform the apartment community.