Roughly 14,000 homes could rise on what is now a hunting ranch about 30 miles outside Austin — plus restaurants, offices, schools and much more. GOOGLE MAPS SCREEN CAPTURE

Austin Business Journal writes, "when asked why his company was interested in building in Central Texas, DMB Development LLC CEO Brent Herrington rattled off a long list of reasons.

"Beyond the economic opportunity, we love that Central Texas is a place people feel drawn to for lifestyle reasons, a place people choose rather than settle for," Herrington said in an April 18 email. "I grew up in Texas and have a real appreciation for the unique, quirky culture of the greater Austin area. I love the natural beauty, the dynamic blend of people and cultures, the creative vibe, the live music scene, and, of course, the food."

That helps explain why his Arizona-based development firm aims to transform more than 7,000 acres near Jarrell, north of Austin…

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TheRealDeal reports, "Austin’s ultra luxury market has burst onto the scene in recent years, nipping at the heels of the Dallas-Fort Worth region, which has the top luxury market in Texas.

Five homes listed at $10 million or more sold in Austin last year, totalling almost $56 million, and 11 sold in DFW for a combined $146 million, according to a report from Compass. 

Super high-end homes sales in DFW are nothing new, but it’s become a revelation in Austin, where residential sales of $10 million or higher were nearly unheard of several years ago. In 2019 and 2020, no such sales were on record. In 2022, the market exploded, however, resulting in four transactions above the $10 million threshold.

“While a $6 million sale was noteworthy in 2019,…

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Plans for Gateway Village call for 307 single-family homes on 97.4 acres. SCREENSHOT OF CITY OF DRIPPINGS SPRINGS DOCUMENTS

Austin Business Journal reports, "Dripping Springs City Council will this week consider annexing and rezoning nearly 100 acres, clearing the way for hundreds of homes to rise in the fast-growing city west of Austin.

The property in question is a 97.4-acre slice of land located along U.S. Route 290 just east of Dripping Springs, according to the meeting agenda. If the annexation goes ahead and the land is rezoned as a planned development district, the project, known as Gateway Village, could have 307 single-family homes with lot widths of 50 to 60 feet. Plans also call for 7.2 acres of commercial land and 22.36 acres of open space.

The landowner is Cannon Family Ranch Partnership Ltd., which has owned the property since December 1999, according…

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Four Seasons Private Residences Lake Austin is tucked into 145 acres along Lake Austin.

Austin Business Journal writes, "the Four Seasons Private Residences Lake Austin is still a few years away from completion on Bridge Point Parkway near the Pennybacker Bridge.

In the meantime, prospective buyers can experience the luxury residential development's homes and amenities through virtual reality, an example of how new technology is changing the marketing of real estate.

Site work began Feb. 8 on the project but, by donning a pair of VR goggles, one can already walk around the 145-acre Lake Austin property's sprawling homes and more than 100,000 square feet of amenities.

Jonathan Coon — partner at Austin Capital Partners, which is co-developing the project with Four Seasons Hotel and Resorts and Hines — believes the use of VR to…

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Five homes in Austin sold for more than $10 million in 2022, and the trend doesn't look like it's slowing down. Photo courtesy of Engel & Völkers Austin

CultureMap Austin writes, "Austin is being redefined as a market for homes for the ultra-rich, according to a new report. The $10M+ National Luxury Report for 2022 from real estate brokerage Compass cites five local sales of homes over $10 million in 2022; that's only up one from the previous year, but there had been none in the years shown before that.

The report is for all sales in the area and based on MLS data.

Affluent areas in Austin have landed increasingly in wealth reports, like the richest cities in Texas as the benchmark for the 1 percent of highest earners in Texas rises. The Compass report acknowledges that the wealth of Austin transplants has permanently changed the real estate market.

DFW holds the top spot in Texas for the $10…

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Austin Business Journal shares, "the end of construction is in sight for the Sixth and Guadalupe high-rise. But already, the view from the top of Austin's tallest building is unlike anything else in the city.

The 66-story mixed-use tower, which broke ground in 2019, could welcome its first apartment residents in October, said Tony Curp, senior vice president of development at Kairoi Residential. Sixth and Guadalupe is being developed by Kairoi, which is handling the residential portion; Lincoln Property Co., which is handling the commercial portion; and investor DivcoWest. The tower was designed by Gensler and JE Dunn Construction Group is the general contractor.

Curp this week hosted Austin Business Journal on an exclusive first-look tour of…

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PR Newswire reports, "RentSpree, the industry's premier end-to-end rental management software provider, today announced its latest partnership with the Austin Board of REALTORS® and its 20,000+ member MLS, the Austin/Central Texas Realty Information Service, to facilitate the instant creation of an ApplyLink™ for rental listings. 

With over 25,000 total residential leases closed through the ACTRIS MLS in 2022, this full integration helps Central Texas REALTORS® generate more leads, reduce transaction time, and lower operating costs.

"Over half of Austin households are renter-occupied, and our region's rental market is just as fast-paced and in-demand as residential home sales at large," said Emily Chenevert, chief executive officer of ABoR and…

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Could a housing recovery possibly be underway?

In March, mortgage rates ended the month over 30 basis points lower than where they started and more buyers returned to the market. Home sales prices fell year-over-year in February—the first time in nearly 11 years—and total home sales saw their largest monthly percentage increase since July 2020. However, many economists remain mixed about how much more home prices will drop this year.

For one, the nation’s housing supply remains limited. Those who purchased homes in recent years at record-low interest rates are staying put. Tight inventory issues, in part, are also keeping prices from dropping off, which is perpetuating affordability challenges for many, especially first-time homebuyers.

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CultureMap Austin reports, "development plans for a secluded, luxury residential community have been announced in Westlake Hills, one of Austin’s most expensive neighborhoods.

Spearheaded by design firm Unicus Developments, FIVE will consist of five contemporary luxury homes on 5.5 acres of land at 3605 Stoneridge Road. Prices for the homes begin at a jaw-dropping $12.48 million.

"The neighborhood where FIVE is located is a coveted opportunity in the highly sought-after Eanes district,” says Eric Moreland of EM group with Moreland Properties, the brokerage firm for the development. “Each FIVE home has a unique finish out and delivers the ultimate experience in refined living.”

Every home in the private, gated community will be painted in…

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Considering Austin’s population has just about doubled in the last two decades, the housing market’s skyrocketing growth was inevitable. Photo courtesy of SmartAsset

CultureMap Austin writes, "despite concerns about housing prices and availability in the state, a new study deemed six major Texas metropolitan areas some of the best housing markets in the nation for their growth and stability. And the Texas Capitol city took the No. 1 spot.

In SmartAsset’s report, Austin-Round Rock earned its best housing market title due to its eye-watering 354 percent home price increase since 1998, which is vastly greater than any other area in the country.

Considering Austin’s population has just about doubled in the last two decades, the housing market’s skyrocketing growth was inevitable. The relocation of several tech companies to the city surely didn't hurt. Even Austin’s apartment construction has the highest growth…

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