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San Antonio in talks with the Boring Company for tunnel running between airport and downtown

The Alamo Regional Mobility Authority voted 5-0 to negotiate a deal with the Boring Company. (Las Vegas Convention and Visitors Authority/Twitter)

Elon Musk envisions a future where passengers ride in underground tunnels to the airport in Tesla automobiles, and San Antonio might be game for trying to make it a reality.

Board members of the Alamo Regional Mobility Authority—San Antonio’s top transportation planning agency—voted to conduct a study into the feasibility of underground tunnels between the airport and downtown.

The San Antonio Express-News reports that the agency has agreed to negotiate with the Boring Company, which is Musk’s underground tunneling venture.

Michael Lynd Jr., the chairman of the mobility authority, was cautious to note that the agency is only in talks for the project.

The vote, the Express-News reports Lynd saying, “is not to take any other action other than to enter into negotiations.”

The proposal calls for building a tunnel 30 feet underground with estimated costs between $247-$289 million for the airport to the downtown portion of the loop, though additional legs could be included in the system. The company could operate and maintain the transportation loop under a lease agreement.

As for a timeline, the Boring Company says its project could start construction in 12 months with the completion of the first phase in 18 months and entire completion in 36 months, Bexar County Engineer Renee Green said. According to a staff-written document, the company would be willing to finance between $27 million and $45 million for the first phase of construction.

Though the Boring Company has test tunnels in Hawthorne, California and Las Vegas, Nevada, it has been asserting a Central Texas presence lately. Public documents indicate the corporate headquarters have moved from California to Pflugerville. And in Bastrop County, it may test tunneling equipment and has plans to build a manufacturing and warehouse facility.

Previous projects at Boring have gone unfinished or been canceled, like in Washington D.C; Los Angeles, California; and Chicago, Illinois.

Last year, city of Austin officials reportedly met with the Boring Company to talk about the possibility of a tunnel from Giga Texas to Downtown Austin and also through the Austin-Bergstrom International Airport.

A SpaceX expansion may also come to Austin, along with a possible Neuralink office and the headquarters of the Musk Foundation.


A mortgage banker walks us through the math on purchasing a 'mid-price' Austin home

So you want to buy a house?

To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.

Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.

Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.

So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.

Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.

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Camp Fimfo Waco

Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!

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