A seven-story apartment tower has risen at 11901 Burnet Road in North Austin, bringing 345 new units, two pools and dozens of income-restricted apartments to a stretch of the city's tech corridor. Developer Morgan announced the opening of The Watson this month, marking the latest addition to a North Austin market that sits just over a mile from The Domain.
Morgan, the project's developer, builder and manager, describes The Watson as a podium-style, seven-story community offering studio, one-, two- and three-bedroom apartment homes, according to REJournals. The property's own leasing website, however, advertises only studio, one- and two-bedroom apartment homes, a discrepancy between the developer's announcement and its marketing materials that prospective renters may want to confirm directly with leasing staff at The Watson. Either way, the building is now leasing, with every residence featuring 10-foot ceilings, quartz countertops and a full-size washer and dryer, per the property's site.
Jason Hauck, Morgan's regional development partner for its central region, framed the project as an attempt to fit into the neighborhood rather than tower over it. “We wanted The Watson to belong to it rather than sit beside it,” Hauck said, as reported by REJournals. Morgan has built communities across Texas for more than 60 years, according to Hauck, and the company says it has built, acquired or is developing more than 30,500 units valued at approximately $6.7 billion nationwide, per Yield PRO.
Pools, Sky Terraces and a Coworking Lounge
Residents get access to two boutique pools, a dedicated work-from-home and coworking lounge with private work pods, and a sky lounge paired with a main sky terrace, the REJournals report notes. Select residences also include private sky terraces with views of the Domain skyline. The Watson's own site adds that the property sits roughly 1.5 miles from The Domain and about 2 miles from Q2 Stadium, putting residents within reach of North Austin's dining, shopping and entertainment hubs.
The building includes approximately 522 parking spaces split across two above-ground and two below-ground levels, along with EV charging stations and Wi-Fi coverage that extends into the underground garage, the same REJournals account states. Morgan says The Watson is designed to achieve NGBS Green Silver certification and is pursuing Austin Energy Green Building 1-Star certification, though neither certification has been confirmed as awarded. STG Design served as architect for the project, and Faulkner Design led interior design.
Income-Restricted Units and a Workforce Housing Discount
Roughly 45 residences at The Watson are reserved for households earning up to 60% of the Austin Area Median Income, according to REJournals. The property's leasing website separately references a Workforce Housing Program offering discounted rents, giving renters two possible paths toward more affordable units in a building otherwise marketed around skyline views and resort-style amenities.
Initial residents began moving into The Watson in June, with full completion anticipated this fall, per the REJournals report. The property also sits near the forthcoming CapMetro North Burnet/Uptown Red Line station, which is expected to open in 2027, a transit link that could eventually connect residents more directly to the rest of Austin.
A Shifting Austin Rental Market
The Watson's debut lands at a turning point for Austin's apartment market. Average rents across the Austin–Round Rock region recovered to $1,400 after ten consecutive quarters of declines, according to a Colliers market report, with total inventory climbing to 350,991 units and 16,171 units under construction at the start of the year.
Those gains accelerated into the second quarter, when rents began to reverse a three-year stretch of declines, according to a NorthMarq analysis. The same report found that quarterly absorption reached a new high and vacancy improved sharply as new supply growth slowed while demand stayed elevated. Investment activity followed suit, with transaction activity during the first half of the year reaching its highest level since 2022, even as deliveries are projected to decline 24% from the 2024-2025 peak.
Morgan describes itself as a vertically integrated, third-generation family business that invests in multifamily housing through development and acquisitions in high-growth U.S. markets, targeting roughly $1 billion in new investments annually. The company's owned and managed portfolio consists of more than 19,300 units spread across Texas, California, Arizona, Colorado, Missouri and Florida, according to Yield PRO's account of the announcement.
