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The Boring Company's Prufrock-1 constructing a tunnel exit in Vegas. (The Boring Company/Twitter)
The Boring Company—Elon Musk’s tunnel construction company—is looking into a warehouse and manufacturing facility in Bastrop, east of Austin.
The Bastrop County Commissioners agenda for Monday notes that they’ll be discussing a permit the Boring Company has filed for an 80,000 square foot facility in West Bastrop. The Austin Business Journal reports the facility is at 130 Walker Watson Rd.
Plans for manufacturing at the site are unclear. The warehouse would connect to a parking lot, loading doc and a connection to a road that exits onto FM 1209. Additionally, job postings indicate that it may be used to develop “Prufrock,” a tunneling technology.
Prufrock, designed by the company, is a machine that launches from the surface and carries out underground mining. Currently, the Boring Company is aiming for a speed of 7 miles per day.
The ABJ reports that the company has been approved for permits for commercial research and development at the site. Other approved plans are 10 multi-family structures that have 30 bedrooms, 10 kitchens and a basketball court.
News of the warehouse follows other action the Boring Company has made in Central Texas, including filing permits for a research and development site in Bastrop County.
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Popular
Elon Musk has proposed once again to buy Twitter for $54.20 a share.
The news that Musk is offering to carry on with the $44 billion buyout was first reported by Bloomberg. Now, a filing with the Securities and Exchange Commission shows Musk made the proposal in a letter to the tech giant on Monday.
The New York Stock Exchange temporarily halted trading in Twitter stock twice Tuesday, first because of a big price move and the second time for a news event, presumably the announcement of Musk's renewed offer.
While the per share offer price on this latest proposal remains the same as the original offer, it’s unclear if Musk has made other term changes or if Twitter would reject it. According to other reports, a deal could be reached this week.
The stock closed at $52.00/share Tuesday, indicating market uncertainty around the $54.20 offer.
After Musk informed Twitter of plans to terminate the original agreement in July, Twitter sued. A trial has been expected in Delaware Chancery Court on Oct. 17.
With the proposition of a buyout on the table again, it revives the question of whether Musk might move Twitter from San Francisco to Central Texas.
He’s done so with some of his other companies. Tesla’s headquarters in southeast Travis County had its grand opening earlier this year and tunneling business The Boring Company moved to Pflugerville. At least two other Musk companies, SpaceX and Neuralink, have a Central Texas presence without being headquartered here.
Technology journalist Nilay Patel this afternoon voiced concerns that owning Twitter and Tesla together could be problematic for Musk, as his Tesla manufacturing facilities in Germany and China are both in countries that have disputes with Twitter over content moderation and censorship.
Telsa shares fell after the Twitter news became public, before rallying to close up, at $249.44.
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While searching for a place to live, Austin renters will face monthly rates of nearly $3,000, a recent guide from rental marketplace Dwellsy shows.
The median rent in August this year was $2,930, a more than 86% increase since August 2021. That’s $820 more than the nationwide median asking rent in August and puts Austin just below the Bay Area, Boston and New York for large cities with the most expensive asking rent.
“Within this group, Austin, TX stands out for the highest increases in asking rent, which has nearly doubled since this time last year,” the study notes.
Outside of those large cities, however, others are seeing even higher rent spikes. Metro areas that ranked above Austin in one-year increases include those like Kansas City, MO with a 112% change in rent since last August and Tucson, AZ with a 124% change.
The data reflects large apartment communities, single-family homes and 2-6 unit buildings.
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