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.
Prufrock-1 has arrived at Resorts World on the Vegas Strip! Thanks to @ResortsWorldLV @LVCVA @ClarkCountyNV for their amazing support.pic.twitter.com/dr7VJLv3Lt— The Boring Company (@The Boring Company) 1643999131
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.
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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.
Holland says that while the 30-year fixed rate mortgage is often mentioned in the media, the most popular loan that he's seeing now is a 7/1 adjustable rate mortgage, which has a fixed rate for 7 years and then adjusts every year based on market rates, with a limit on how much it can increase each year. The interest is amortized over a 30-year period. Adjustable Rate Mortgages (ARMs) offer lower rates than fixed rate loans.
Here are the numbers, which are examples. In practice, exact numbers vary with a buyer's credit rating and overall financial situation, and with the rate, which can move up or down at any time.
- $650,000 home purchase price
- 7/1 ARM at 5.875%
- 5% down payment, equals $32,500
- 95% financed, equals $617,500
- $4,990 payment, including principle and interest (P&I), insurance, and property tax
- Typically, a borrower's debt to income ratio needs to be at or below 45%. So for this mortgage, a borrower, or borrowers, would need income of roughly $11,100/month, or $133,200/year. That number could be higher, depending on the buyer's outstanding credit balances on things like credit cards and car loans.
Holland says he's had a lot of clients approved for loans who were house hunting but have put that on hold, hoping prices come down.
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!
Fall promises to be a one-of-a-kind camping experience. From Sept. 16 to Nov. 24, weekends will be packed with fall-themed activities, including special Halloween weekends in October. Campers can enjoy activities like fall crafts, campground trick-or-treating, costume contests, site decorating, outdoor movie nights, and more!
Packages and Ways to Stay
Camp Fimfo Waco
Located just 5 miles from McLane Stadium, Camp Fimfo Waco is the perfect place to stay during home game weekends. Skip the stuffy hotel room and embrace the great outdoors before cheering on the Baylor Bears! Campers can purchase a Baylor Tailgating Package that includes a pre-game meal from Executive Chef Sean Kelley and transportation to and from the game! Chef Kelley will also be cooking up delicious, elevated tailgating meals near the stadium so make sure to check out The Plaid Plate food truck before the game.
Stay in style and comfort, no matter your camping preference! At Camp Fimfo Waco, there are multiple ways to stay. Red Carpet RV sites come with a concrete pad and patio, full hook-ups, cable hook-up, a charcoal grill, fire ring and fire pit. Back-in or pull-thru options are available, as well as coveted spots tucked along the Bosque River!
Don’t have an RV? Not a problem, Camp Fimfo Waco has cabins too! Book a Riverview Firewheel Cabin if you’re looking for an air-conditioned oasis for the whole family. Complete with a kitchen and private bathroom, this cabin can fit up to 10 people. Elevate your stay by adding on a golf cart or snag a private cabana by the pool for guaranteed shade. With wifi available throughout the park, you can stay connected during your stay!
Amenities and Activities
Camp Fimfo Waco
Camp Fimfo Waco features lots of amenities to fill your days with fun, whether you’re a kid or kid at heart. After challenging your friends to a game of pickleball, basketball, or mini golf, go for a dip in the resort-style, heated pool - open daily through October! Stay on the weekends through October to enjoy the interactive splash playground. With plenty of ways to burn off energy, like the jumping pillow or playground, you can be sure to end the day with a peaceful night around the campfire!
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