Construction crews continue to add to the Tesla gigafactory, which is spawning a tsunami of ancillary development. JERRY L. BROOKS / BALLISTIC BLADE ENTERTAINMENT

Austin Business Journal writes, "A wave of development is washing over far East Austin, turning empty fields into hulking buildings.

The area around Tesla Inc.'s mammoth gigafactory is considered by many to be Austin's final frontier, and developers are taking the plunge now that Elon Musk has warmed the water. Mixed-use projects, multifamily housing, office towers, shopping centers and more are poised to transform the "eastern crescent" of Austin, which roughly follows the relatively new State Highway 130 toll road.

Here is a look at some of the largest projects on tap in the area. They will create a mountain of work for construction crews and yield abundant opportunities for others. County and municipal planners — especially road builders —…

1855 Views, 0 Comments

Read Full Post

Home prices are increasing even as the supply of homes on the market also is going up.

Austin Business Journal shares, "The median sale price for U.S. homes hit a record $383,725 during the four weeks ending April 21, up more than 5% from a year earlier, according to newly available data from real estate firm Redfin Corp.

The increase comes even as the supply of homes also has gone up, with 10.2% more new listings compared to the same time last year.

The record-high sale price is double what the median price was 10 years ago and up about 50% over the past five years, according to Redfin (Nasdaq: RDFN).

High interest rates have kept mortgage rates above 7%, and there's little indication from the Federal Reserve that interest rates will be measurably declining in the near term. That combination has helped push the median monthly…

463 Views, 0 Comments

Read Full Post