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(Q2/Twitter)
Austin FC announced it has entered into a multi-year stadium naming rights partnership with Q2 Holdings, Inc., for its $260 million stadium.
<p>The new stadium, now known as "Q2 Stadium," remains projected for completion this spring at 10414 McKalla Place, ahead of the inaugural Austin FC season.</p><div class="rm-shortcode" data-rm-shortcode-id="030a6d4b74db488b296e111ef0ab525a" id="01f28"><blockquote class="twitter-tweet twitter-custom-tweet" data-partner="rebelmouse" data-twitter-tweet-id="1353758552905674761"><div style="margin:1em 0">Welcome to @Q2Stadium!
Austin’s Biggest Backyard. 🏟 https://t.co/SGR2DMgukA</div> — Q2 Stadium (@Q2 Stadium)<a href="https://twitter.com/Q2Stadium/statuses/1353758552905674761">1611596165.0</a></blockquote></div><p>Q2, the Austin-based provider of digital transformation solutions for banking and lending, has also secured the name of the "Q2 Field Club," the premium seating and Club experience adjacent to the player's benches in the over 20,500-seat stadium.<br/></p><p>"Our partnership reinforces to our employees and top talent that Q2 is committed to everything that makes Austin special – culture, community and now, world-class professional sports sure to bring a diverse, global audience to our community," Matt Flake, President and CEO of Q2 said in a press release.</p><p>The stadium will have multiple purposes aside from hosting the men's and women's soccer leagues, including other amateur sporting events, concerts and festivals, and community projects. Q2 Stadium will be a venue to host organizations such as Black Girls Code and Code2College—groups that make contribute to the Austin software development communities.</p><p>The stadium will be one of 20 soccer stadiums featured within Major League Soccer in 2021 and is one of eight stadiums that have opened since 2017.</p><p>Austin FC President, <a href="https://www.austinfc.com/andy-loughnane" target="_blank">Andy Loughnane</a>, said in a press release that it was the club's top priority to establish a naming rights partnership with an Austin-based company that is "committed to using this platform to give back to the community."</p><p>"Q2 Stadium holds the distinction of being the first and only major league venue in Austin, and Austin FC is exceptionally proud to begin our MLS journey with Q2 as our partner and Q2 Stadium as our home."</p><p>This is the latest partnership with a local brand for Austin FC. It has already established a partnership with <a href="https://austonia.com/netspend-partners-with-austin-fc" target="_blank">Yeti, H-E-B and Netspend</a>. </p>
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(Shutterstock)
Austin may soon be home to a tech plant that would dwarf the Tesla Gigafactory in both investment and job creation.
Samsung Electronics Co. is considering starting construction on a $10 billion memory chip plant in Austin as soon as this year, Bloomberg reported Friday.
<p>The Samsung plant would compete with industry leader Taiwan Semiconductor Manufacturing Co., which is scheduled to begin construction on a $12 billion semiconductor factory in Phoenix <a href="https://azbigmedia.com/real-estate/taiwan-semiconductor-launches-38b-phoenix-presence-by-signing-major-lease/#:~:text=Taiwan%20Semiconductor%20Manufacturing%20Company%20is,to%20begin%20production%20by%202024." rel="noopener noreferrer" target="_blank">later this year</a>. </p><p>Samsung is capitalizing on a federal effort to draw advanced manufacturing plants away from Asia, Bloomberg reported. </p><p>Samsung Austin Semiconductor LLC purchased roughly 258 acres of land in Northeast Austin in late October, near its existing chip manufacturing plant. Last month, Austin City Council approved a rezoning request from the company to allow for industrial use. </p><p>"The proposed (zoning) agreement will reflect almost the same conditions approved on the current Samsung Austin Semiconductor site," Case Manager Sherri Sirwaitis wrote in <a href="https://www.austintexas.gov/edims/document.cfm?id=351517" rel="noopener noreferrer" target="_blank">a staff report</a> submitted to the council. </p><p>Samsung opened its first Austin plant in 1997 and has since expanded its campus, which now spans roughly 300 acres and employs around 3,000 people, <a href="https://www.bizjournals.com/austin/news/2021/01/22/austin-could-be-home-to-10b-samsung-plant.amp.html" rel="noopener noreferrer" target="_blank">according to the Austin Business Journal</a>. </p><p>The company also has a long history of working with state and local governments on tax incentive deals. Between 2009 and 2019, Travis County rebated Samsung $65 million as part of an ongoing incentives agreement. </p><p>One of the people close to the matter told Bloomberg that the company may go ahead without such an incentives agreement. But the Travis County Commissioners Court is scheduled to consider whether to accept an application for an economic incentive agreement on Tuesday. A spokesperson would not say which company has filed the application—nicknamed "Project Silicon Silver." </p><p>Travis County commissioners last considered an unnamed economic incentives agreement application in May 2020, which was later revealed to have been filed by Tesla. They later approved a multimillion-dollar incentives agreement for the electric automaker, which is currently building a $1.1 billion Gigafactory in Southeast Travis County. </p><p>In response to criticism regarding the agreement, Travis County commissioners voted unanimously <a href="https://austonia.com/travis-county-incentives" target="_self">last month</a> to amend its economic incentives policy to include community input requirements. As a result, if commissioners vote to accept the Project Silicon Silver application, the court will be required to post draft agreements publicly and host public hearings before taking action on any incentive agreement. </p>
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(Pexels)
Despite a pandemic and record-low inventory, the Austin housing market had a record-breaking year in 2020.
The median home price in the five-county Austin-Round Rock metro increased by nearly 16%, to an all-time high of $370,000, in December, and residential home sales increased more than 16% year-over-year, according to the latest monthly and year-end reports from the Austin Board of Realtors.
<p>The city of Austin saw even more dramatic growth, with the median sales price rising nearly 19% to $461,000—a new monthly record—in December. Residential home sales increased 16.4%, year-over-year. </p><p>ABoR officials attributed this growth, in part, to the impact of COVID-19. </p><p>"The pandemic only increased demand for all types of housing across the region, pushing inventory to near-zero levels and creating the strongest sellers' market Realtors have ever seen," ABoR President Susan Horton said in a statement. </p><p>Dr. James Gaines, former chief economist for the Texas Real Estate Research Center, added: "The pandemic fostered an environment where many families increased personal savings, helping some transition from renting to ownership while others needed to 'move up' for more space while working from home." </p><p>Extremely low housing inventory factors into these jumps, with a record-low amount of housing inventory reported in the metro last month, according to ABoR. </p><p>"The complexity of a home sale is at an all-time high as it has become commonplace for homes to receive multiple offers well over list price," Horton said. </p><p>Horton's predecessor, Romeo Manzanilla, raised concerns about this trend. </p><p>"Central Texans who could not find a property within Austin's city limits have historically been able to expand their searches outward to find a home," he said in a statement last month. "But, when the entire region has virtually zero inventory, its leaders must think about how such a broad lack of housing will ultimately impact Austin's sustainability as a destination for business and economic growth." </p><p>Demand for housing is amplified by an influx of new residents. </p><p>Last month, the Wall Street Journal dubbed Austin <a href="https://www.wsj.com/articles/covid-19-remote-work-make-austin-a-magnet-for-new-jobs-11607423401#_=_" rel="noopener noreferrer" target="_blank">a magnet for new corporate jobs</a>, thanks to its lower costs (and taxes) compared to San Francisco and New York City. And LinkedIn reported that Austin gained <a href="https://austonia.com/newcomers-moving" target="_self">the most newcomers</a> of any city in the country, based on an analysis of its 174 U.S. users. </p><p>Overall, Gaines said the outlook for the 2021 housing market is "very good."</p>
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(Zillow)
Austin is projected to be the top housing market in 2021, according to a recent study from Zillow.
<p>With more and more large tech companies—such as Oracle, Tesla and Hewlett Packard Enterprises—moving to Austin, increased demand for housing has followed suit. Just last year, by November, <a href="https://www.investopedia.com/why-silicon-valley-companies-are-moving-to-texas-5092782" target="_blank">35 tech companies</a> had moved into Austin—bringing more jobs and people to the city.<span></span></p><p>In the study, Pulsenomics LLC, on behalf of Zillow, interviewed a panel of 113 economists, investment strategists and real estate experts about their predictions on the U.S. housing market in the new year. Of those interviewed, 84% said Austin's home values would be greater than the national average.</p><p>In fact, the cities that are slated to do better than the national average—including Austin, Phoenix, Tampa, and Nashville—are in the Sun Belt. Denver is also projected to have a top housing market, although it is not part of the Sun Belt.</p><p>These relatively affordable metro areas are becoming the primary destinations for people wishing to get away from the expensive coastal cities such as Los Angeles and New York. </p><p>This has been a trend throughout 2020. According to Jeff Tucker, a Zillow senior economist, the pandemic actually accelerated trends we saw in the past year.</p><p>The report said that Zillow's 2020 survey of housing markets proved accurate when Austin ended the year with the median list price at a 23.6% year-over-year increase—the largest rise among the 50 largest U.S. markets. </p><p>"These Sun Belt destinations are migration magnets thanks to relatively affordable, family-sized homes, booming economies and sunny weather," he said in a release. "Record-low mortgage rates and the increased demand for living space, coupled with a surge of Millennials buying their first homes, will keep the pressure on home prices there for the foreseeable future."</p>
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