Never miss a story
Sign up for our free daily morning email...
...and afternoon text update
×
Real Estate
Featured
austonia newsletter
Get connected with our daily update
Most viewed
A new urban space with housing, retail and office space begins construction in Northeast Austin
12 January
EastVillage, a highly anticipated 425-acre mixed-use residential community has begun construction on the multifamily residential phase of its development in the first quarter of 2021.
<p>According to a press release, the $1 billion development has already completed 10% of the initial site work with phase one to be completed by June.</p><p>EastVillage's single-family residential development is also in progress. Builder KB Home is scheduled to begin construction on model homes in February with completion and start of sales estimated for April or May.</p><p>The mixed-use, multi-family project is located in the northeast tech corridor of Austin on Parmer Lane and positioned across from Samsung Austin Semiconductor and within close proximity of Dell, National Instruments, The Home Depot Technology Center, Amazon and other major employers.</p><p>In its completed form, the development will have 2,000 multi-family units, 466 single-family units and three hotels with 360 total rooms. There will also be 223,000 square feet of retail space, 96,000 square feet of restaurant space, a whopping 810,000 square feet allotted for various office spaces, a grocery store and a movie theatre. Apart from building space, there will be multiple areas for outdoor activities, such as a small, pocket park and 150 acres of wooded preserve.</p><p>Next up in development will be a 15-acre, mixed-use multi-family development featuring 422 apartment units and nearly 143,000 square feet of retail and restaurant space.</p><p>With the first stages of EastVillage set to reach completion in 2021, the introduction of additional housing will put less pressure on the already highly-pressurized market. The <a href="https://www.abor.com/news-center/market-stats" target="_blank">Austin Board of Realtors Housing Market Report</a> in November 2020 found that the Austin area has seen a record demand for housing in the past year. </p><p>The new urban center, according to Gordon Reger, President/CEO of Reger Holdings, LLC, will be a "vibrant, eclectic venue where individuals representing all age groups and diverse cultural influences come together to live, work, shop, dine and enjoy the outdoors."</p>
Keep Reading
Show less
Popular
Thomas "Tom" King addressed the Travis Central Appraisal District's Board of Directors at its January 7, 2021, meeting during Citizens Communications. After the meeting, King told The Austin Bulldog that he is now in his sixth year as a member of the Travis Appraisal Review Board and served one year as vice chairman of that board in 2019.
"I want to talk a little bit about the blindside attack made by the Chief Appraiser (Marya Crigler) at your last Board of Directors meeting on December 3rd," King told the board. "I call it a blindside attack because the charts and pages concerning the ARB, its budgeted cost overrun, the high cost of doing hearings, and the per diem payment to ARB members that the Chief Appraiser showed, were not available to the public before your meeting nor were they available to the ARB before the meeting."
Read the rest at The Austin Bulldog.
Austin FC stadium, Giga Texas, Waterloo Park and 5 Austin towers slated for delivery in 2021
07 January
(Austonia staff)
Despite the pandemic, and uncertainty about the future of office work, new towers and other developments continue to spring up across Austin.
This year, some significant downtown projects, as well as major new projects from Tesla and Austin FC that are farther afield, will officially open. Here are eight to look out for:
1. Office tower at 300 Colorado St.
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDYxNy9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjgzMjU1MH0.GzJ4iUJOfoCb5nk3LFIZxOvau9cDGq604U1CaWbZcyE/img.png?width=980" id="0d05a" class="rm-shortcode" data-rm-shortcode-id="14e6cf52f2cd05650f57dafae233530b" data-rm-shortcode-name="rebelmouse-image" />(Cousins Properties)
<p>This 32-story office building at 300 Colorado St. is scheduled to be completed this quarter. Developed by Cousins Properties, the tower will be home to Austin-based oil and gas company Parsley Energy, which has leased all of its office space. It will also be home to retail tenant <a href="https://communityimpact.com/local-news/austin/central-austin/features/business/2018/09/12/del-friscos-grille-to-open-at-300-colorado-in-downtown-austin/" target="_blank">Del Frisco's Grille</a>. </p>2. Office tower at 405 Colorado St.
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDYyOS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTg2NTc0M30.If8Tyh_WpepzDNlx_zLOULavSuYfS1aEaaQxOH2N2MI/img.jpg?width=980" id="70136" class="rm-shortcode" data-rm-shortcode-id="cf3cd0ab6476aa3fb19d81b1b1a466eb" data-rm-shortcode-name="rebelmouse-image" />(Brandywine Realty Trust)
<p>This 25-story office building at 405 Colorado St. is also scheduled to be completed this quarter. Developed by Brandywine Realty Trust, its tenants will include the investment management and research firm AllianceBernstein. According to the developer's website, the tower boasts an above-market parking ratio, "making it one of the easiest places to park" downtown. </p>3. Hotel tower at 5th & Brazos
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MTE5Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyMzY1OTE2Mn0.FyAXKrikN-ZDUVVTainJHMdR2pieDjIU9DMN6gSeFNE/img.jpg?width=980" id="4d64c" class="rm-shortcode" data-rm-shortcode-id="cd10a6fbd6f4461828dc8412687d8802" data-rm-shortcode-name="rebelmouse-image" /><p>This 32-story mixed use tower at 501 Brazos St. will open this quarter. Developed by the Magellan Development Group, the building will include tenants Thompson Hotels, a luxury boutique hotel chain that is owned by Hyatt and has outposts in Nashville and Chicago, and tommie hotels, a micro-hotel company that caters to a younger market. </p>4. Indeed Tower on 6th Street
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDU5NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxMTA0NTYyMn0.u83hO-J7v5AQv2J0eqSrqFaZBc9AJApwueFxuq13NoA/img.jpg?width=980" id="2646b" class="rm-shortcode" data-rm-shortcode-id="1ab733ac31ab889ad128f37923b0b663" data-rm-shortcode-name="rebelmouse-image" />(Trammell Crow)
<p>This 36-story office building at 200 W. Sixth St. will be completed this March, according to developer Trammell Crow. Tenants include the worldwide employment website Indeed, the Teacher Retirement System of Texas and the Austin-based title insurance company Heritage Title. The site of this forthcoming tower was formerly a post office built in 1914. </p>5. Austin FC Stadium at McKalla Place
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDc2ODM1OC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2MTc5MjE5MX0.zAUVTauYIB5xq3lItXOPBO9dmQ21Cr63K31-s1bLCQU/img.jpg?width=980" id="08232" class="rm-shortcode" data-rm-shortcode-id="c217c076fb05e62fc04adde10294fab3" data-rm-shortcode-name="rebelmouse-image" />(Laura Figi/Austonia)<p>The $260 million Austin FC stadium is scheduled to open at 10414 McKalla Place in North Austin this spring, ahead of the Major League Soccer club's inaugural season. It will hold 20,500 spectators and include a 400-person capacity beer hall and multi-level team store. Austin FC's parent company and ownership group, Two Oak Ventures, privately financed the stadium. </p>6. Waterloo Park in Central Austin
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzYzNTI0Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MTkwMTE2N30.UkcMB4h9G31s24PVyIn34QsQko1oYYDplmeTsX8VEHw/img.jpg?width=980" id="048c6" class="rm-shortcode" data-rm-shortcode-id="16c392a35943c170cb8fc0c378a4e3df" data-rm-shortcode-name="rebelmouse-image" />(Waterloo Greenway/Twitter)
<p>Waterloo Greenway, an urban park system that runs 1.5 miles along Waller Creek from 15th Street to Lady Bird Lake, will soon debut its first phase project: Waterloo Park. The 11-acre park is bordered by East 15th, Red River, East 12th and Trinity streets and will open this spring. </p>7. Giga Texas in Southeast Travis County
<div id="56849" class="rm-shortcode" data-rm-shortcode-id="64e485d87768eca5ced0cca49c80e190"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1340500759452942337" data-partner="rebelmouse"><div style="margin:1em 0">🏗 Giga Texas https://t.co/0D6QV1Fcsa</div> — Omead Afshar (@Omead Afshar)<a href="https://twitter.com/omead_a/statuses/1340500759452942337">1608435261.0</a></blockquote></div><p>The forthcoming Tesla Gigafactory in Southeast Travis County is expected to be up and running by the end of this year, with the first substantial completion, or construction milestone, scheduled for May, according to the Austin Chamber of Commerce. The $1.1 billion, 2,100-acre, 7.9-million-square-foot factory will provide at least 5,000 jobs, not including the thousands of construction workers who are currently building it. Omead Afshar, project director within Tesla's office of the CEO, tweeted a photo of the factory's progress on Dec. 19. </p>8. The Quincy in the Rainey Street District
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MTE3OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyOTA5NDk2NH0.eR-s4Vq_SjvPVIQZj-AVrxlbtv-9MGyWVqUm4YmueZ0/img.jpg?width=980" id="f7cb9" class="rm-shortcode" data-rm-shortcode-id="ed203a0eff3bd19f853bc14a579c072d" data-rm-shortcode-name="rebelmouse-image" />(Endeavor Real Estate Group)
<p>This 29-story office and multi-family tower at 93 Red River St. will be completed in the third quarter of this year, according to developer Endeavor Real Estate Group. It will join recent high-rise additions in the Rainey Street Historical District, including the residential towers 70 Rainey and 44 East as well as a 51-story mixed-use building planned for 90-92 Rainey St.</p>From Your Site Articles
- Austin FC installs stadium seats, stadium opening in spring - austonia ›
- Austin sees rent drop amid COVID, a rare boon to tenants - austonia ›
- Elon Musk announces Austin Gigafactory will open in 2021 - austonia ›
Related Articles Around the Web
Keep Reading
Show less
(Bob Daemmrich)
Tesla CEO and recent Texas transplant Elon Musk has surpassed Amazon CEO Jeff Bezos to become the wealthiest person in the world, according to Bloomberg's Billionaires Index.
<p>"How strange," the South African entrepreneur tweeted on Thursday in response to the news.</p><div class="rm-shortcode" data-rm-shortcode-id="a82a3a075a3afeb5c95b9745eb140613" id="319ad"><blockquote class="twitter-tweet twitter-custom-tweet" data-partner="rebelmouse" data-twitter-tweet-id="1347204459147902978"><div style="margin:1em 0">@teslaownersSV How strange</div> — Elon Musk (@Elon Musk)<a href="https://twitter.com/elonmusk/statuses/1347204459147902978">1610033547.0</a></blockquote></div><p>Musk is now worth $188.5 billion, compared to Bezos' $187 billion, thanks to Tesla's rising stock prices, which have increased nearly 750% since 2019.<br/></p><p>As a result, Musk's net worth has skyrocketed over the last year in <a href="https://www.bloomberg.com/news/articles/2021-01-06/musk-close-to-surpassing-bezos-as-world-s-richest-person#:~:text=Elon%20Musk%2C%20the%20outspoken%20entrepreneur,the%20world's%20500%20wealthiest%20people." rel="noopener noreferrer" target="_blank">what Bloomberg called</a> "possibly the fastest bout of wealth creation in history."</p><p>Musk, who is also the CEO of SpaceX, Neuralink and the Boring Company, <a href="https://austonia.com/elon-musk-texas-move" target="_self">announced last month</a> that he had moved to Texas from California. Austin realtor Cord Shiflet <a href="https://austonia.com/elon-musk-moving-to-austin" target="_blank">confirmed to Austonia</a> that Musk and his representatives have been touring area properties.</p><p>Musk cited his two biggest projects—the forthcoming $1.1 billion Tesla Gigafactory in Southeast Travis County and the Starship prototype that SpaceX is developing in South Tesla—as reasons for the move. </p><p>Last year, Musk chafed against COVID-19 regulations in the state of California, where Tesla operates a factory, and threatened to move the company's headquarters. </p><p>There is also the issue of taxes.</p><p>California has the highest income tax rate of any state in the country. Texas, on the other hand, has none. By relocating, Musk could save potentially <a href="https://www.cnbc.com/video/2020/12/04/elon-musk-tells-close-friends-he-plans-to-move-to-texas.html" rel="noopener noreferrer" target="_blank">billions of dollars</a> in taxes on his Tesla compensation package. </p><p>Assuming the five-county Austin metro has a median annual income of $71,576 and a population of 2.23 million people, as reported by the U.S. Census Bureau, Musk's net worth is greater than the annual income of the entire metro population. </p><p><br/></p><p><strong>More on Elon Musk:</strong></p>
<h2><a href="https://austonia.com/elon-musk-moving-to-austin" target="_self">Exclusive: Where will Elon Musk move? He says 'Texas,' sources say 'Austin'</a></h2>
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDc3NjU0MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyMDcwMDY2NX0.ZucXY0th0eYgaV_uoBjTY-ycUDzJYJfhykZm-opZLt4/img.jpg?width=980" id="daebc" class="rm-shortcode" data-rm-shortcode-id="ee01cca28bb67270517989498c000103" data-rm-shortcode-name="rebelmouse-image" />Elon Musk tells friends he is moving to Texas. Could he land in Austin?
From Your Site Articles
- Oracle moves headquarters from Silicon Valley to Austin - austonia ›
- Austin's four richest self-made women in America, Forbes - austonia ›
- 8 Austin billionaires make a return to the Forbes 400 list - austonia ›
- Elon Musk announces Austin Gigafactory will open in 2021 - austonia ›
- What billionaires like Elon Musk look for in Austin real estate - austonia ›
- 2020 was "unprecedented" and 2021 hasn't been much different - austonia ›
Related Articles Around the Web
Keep Reading
Show less
