Austin's Circuit of the Americas hasn't confirmed that the racetrack's 10-year Formula 1 contract has been renewed for the 2022 season, but signs continue to point to yes as the waitlist builds for the possible 2022 race.
While COTA has yet to release its own tickets, refundable deposits for $100 general admission, $250 reserved seats or a $500 shared hospitality deposit can be made now and will go toward tickets when they say they will officially drop in early 2022. Unaffiliated tickets listed on Vivid Seats start at $433 and peak at nearly $8,000 for the race, which brings hundreds of thousands into Austin each year and comes packed with star-studded performances, adrenaline-inducing face-offs and plenty of fanfare to the region every fall.
Although the USGP was included in Formula 1's 2022 season schedule released in October, many worried that the race was 'F1 and done' in the state capital as the tight-lipped COTA leadership continued to list the deal as pending. The 2022 preliminary schedule cited that the race would be "subject to contract."
The track's initial 10-year contract ended after the possibly record-breaking 2021 Grand Prix race in late October. And while COTA chairman Bobby Epstein said he was hopeful that a new contract would be secured, some said the odds were stacked against them: each race requires a hefty $25 million in funds from the state of Texas, which has threatened to halt spending before and hasn't determined if the top-flight race sufficiently boosts the economy.
And a new track getting buzz in Miami added to complications—in COTA's contract with Texas' Major Events Reimbursement Program, the state said it would only provide funding if the USGP remained the only Formula 1 race in the United States.
But Epstein and crew weren't going down without a fight. Epstein, who lauded the long-awaited 2021 race as the "biggest event on the planet this year," seemed to pull through as an estimated record-breaking 400,000 attendees walked through COTA's gates for the 2022 race. Austin-Bergstrom International Airport felt the weight of hundreds of thousands of tourists pouring in as well, breaking attendance records during the USGP weekend.
And with growing interest in North America—aided by a heated battle between rivals Max Verstappen and Lewis Hamilton and Netflix docuseries "Drive to Survive"—new enthusiasm was pumped into the COTA project.
Epstein said on Oct. 22 that he was "highly confident" that the track's contract would be renewed, but as of Wednesday, Nov. 24, he told Austonia that no updates had been made on the deal.
If the hints prove true, the 2022 race will take Austin by storm once again Oct. 20-23, 2022.
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The FTA announced the funding round on Thursday, which dispersed $11 million across 12 states and 20 projects. The money is meant to connect communities to affordable transit and housing through the FTA Pilot Program for Transit-Oriented Development planning.
CapMetro said the funds will go toward projects at eight stations spanning 6.5 miles on the South end of the Orange Line, which has a total of 22 stations. The full project stretches across the 20 miles from Southpark Meadows to Tech Ridge.
Republic Square station is along the Orange Line. (Project Connect rendering)
Once it’s complete, which officials estimate will be in 2028, the Orange Line will reach the following stations:
- Tech Ridge (Park & Ride)
- North Lamar International District
- The Triangle
- UT campus
- Republic Square
- Auditorium Shores
- South Congress
- Southpark Meadows (Park & Ride)
A $500 million mixed-use development spanning 1,400 acres is coming to Southeast Austin, near Tesla’s headquarters at Giga Texas.
Plans for the development by Houston-based real estate firm Hines include 2,500 houses along with multi-family and townhomes, and commercial land. Hines is partnering with Trez Capital, Sumitomo Forestry and Texas-based Caravel Ventures.
The development, which is known as Mirador, will be located off the 130 Toll and Highway 71, which the developers say provides easy access to the Circuit of the Americas Formula 1 racetrack and other Austin attractions like restaurants, parks and live music venues.
Hines also boasts amenities like a 60-acre lake, over 600 acres of greenbelt, community parks, trails and a swimming pool.
“As Austin continues to grow into the tech epicenter of Texas, coupled with a supply-constrained market, the demand for new housing is at its highest,” Dustin Davidson, managing director at Hines, said. “Mirador will be critical in providing more options for Austin’s growing population and we are excited to work alongside our partners given they each provide a unique and valued perspective in single-family development.”
The local housing market has been hot in recent years, with home sales accelerating earlier in the pandemic. In July 2021, the Austin metro area hit its pricing peak at $478,000. As Austonia previously reported, the area has been expected to see the Tesla effect, with the new workforce driving up demand for housing and other services.
The single-family houses are expected to be developed over the course of six years, in phases. Construction on the homes is expected to start this year and home sales will begin in 2023.
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