Luxe Austin Homes - atx

"For Pearlstone Partners, $700 million in new investment is on tap for Austin market"

Posted by Grossman & Jones Group on September 22nd, 2023

Austin American-Statesman writes, "Pearlstone Partners is doubling down on its commitment to growing in Austin.

Over the next three years, the Austin-based real estate investment firm said it plans to add three new projects totaling upwards of $700 million to its expanding portfolio. The new developments will further redefine the skyline and urban living in the city, Pearlstone officials say.

The privately held Pearlstone — one of the largest providers of for-sale housing in and near downtown Austin —already has invested about $500 million in two completed residential projects and three that are under construction.

Now, it is seeking capital partners for three future projects. The planned projects will add an additional $700 million to…

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Austin, Nashville, and Miami emerge as top U.S. commercial real estate investment destinations

Posted by Grossman & Jones Group on September 21st, 2023

CTECH writes, "Austin, Texas, remains the most promising city for investing in commercial real estate in the United States, according to the annual review conducted by the global law firm DLA Piper. A total of 128 real estate experts from around the world participated in the review, including CEOs, VPs of operations, real estate developers, and property managers. The report outlines the most attractive investment opportunities in commercial real estate for the upcoming year and assesses the impact of factors such as inflation, high interest rates, geopolitical tensions, and economic forecasts on investment decisions. DLA Piper has maintained a representative office in Israel since 2012. Among the respondents, the highest…

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"Austin may allow tiny homes with wheels, RVs as permanent residences"

Posted by Grossman & Jones Group on September 19th, 2023

Austin Business Journal reports, "Austin homeowners may have an opportunity to transform their backyards and other open spaces into leasable dwellings as the local government works to create new options for affordable housing.

Austin City Council on Sept. 14 asked city staffers to draft an ordinance that would allow mobile tiny homes and recreational vehicles to be used as permanent residences in areas zoned for single-family housing. The draft of the code amendment is expected to be presented to Austin's Housing and Planning Committee and to Council by the end of November.

The effort would be another piecemeal change to Austin's land development code as city leaders work to eliminate barriers to creating additional housing. Affordability issues…

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"Home prices in some Central Austin ZIP codes increased in August"

Posted by Grossman & Jones Group on September 18th, 2023

Community Impact Austin writes, "August home prices in multiple Central Austin ZIP codes increased with homes in 78752 seeing the biggest jump at 38.27% year over year, according to data from the Austin Board of Realtors.

However, there was also a decrease in August home prices in some ZIP codes, including 78701, which dropped by nearly 35%.

Seven ZIP codes in the market also saw more home sales in August compared to last year, while 78751 remained consistent with 15 home sold in both August 2022 and August 2023.

Overall, homes stayed on the Central Austin market in August for at least a month. Last August, homes averaged three weeks on the market."

Source: Community Impact Austin

Written by: Brittany Anderson

Published: September 15,…

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"'The market is active and resilient': Austin area sees uptick in home sales"

Posted by Grossman & Jones Group on September 15th, 2023

Austin American-Statesman writes, "Resilient.

That's the status of the Austin-area housing market as of August, when it saw its first year-over-year increase in home sales since early 2022, the Austin Board of Realtors says.

In its latest monthly report, the board said 2,939 houses changed hands last month in the five-county Austin region, which extends from Georgetown to San Marcos.

The sales represented a 1.4% increase over August 2022. It was the first increase in sales in the Austin region since February 2022, before repeated interest rate hikes by the Federal Reserve to ease inflation began sharply slowing home sales throughout Central Texas.

Across the Austin-Round Rock metro area, half of the houses last month sold for more than…

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"570-acre Lund Farm community near Elgin could break ground next summer"

Posted by Grossman & Jones Group on September 13th, 2023

Austin Business Journal reports, "the developers pitching a 570-acre community near Elgin said they were attracted to the area by "the beauty and economics of the blackland prairie" as they aim to create more than 1,800 single-family homes, hundreds of multifamily units and nine acres of commercial space northeast of Austin.

Representatives for New York City-based Blossoms Development LLC provided Austin Business Journal more details about the Lund Farm community, which would be located off State Highway 95, north of Elgin. Intrigue in the project has been building since it was first announced last month at an Elgin City Council meeting.

The project would be the first in Texas for Blossoms, which has global development experience,…

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"Pearlstone envisions denser Austin, forges ahead with $700M in urban housing"

Posted by Grossman & Jones Group on September 12th, 2023

Austin Business Journal writes, "amid a year of muted activity for commercial real estate development, Pearlstone Partners LLC is betting big on the continued allure of Austin — it has three new projects up its sleeve that could total about $700 million in construction costs. That's on top of Robert Lee and his team forging ahead on three under-construction projects expected to deliver from early 2024 through 2025.

The Austin-based company just unveiled details on three multifamily communities planned to rise on prime sites, spread from Rainey Street to the northwest side of the Central Business District. All three are still in the investment phase, meaning they may not deliver for a few years.

Demand for housing has slowed across the board in…

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"Oracle could expand Austin HQ campus with additional offices, hotel"

Posted by Grossman & Jones Group on September 11th, 2023

Austin Business Journal writes, "Oracle Corp. seems about ready to move forward with long-term plans to expand its headquarters campus near downtown Austin.

The software giant in late August filed documents with the city of Austin outlining plans to add a third office building, measuring 287,510 square feet, to the site it owns off East Riverside Drive. It could also build a 255-room hotel.

The growth will be to the west of Oracle's (NYSE: ORCL) existing office buildings, which measure nearly 1 million square feet combined. The company wants to modify a planned unit development, or PUD, that governs the area's zoning by adding a more than two-acre tract bordering Tinnin Ford Road. The tract is home to the former Town Lake Village Condos, which…

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"Texas is the 3rd hottest state for international homebuyers, new report shows"

Posted by Grossman & Jones Group on September 7th, 2023

CultureMap Austin writes, "the trend of international buyers purchasing homes in Texas shows no signs of slowing down, as revealed in the latest Texas International Homebuyers Report.

Released September 6 by Texas Realtors, the report shows that the Lone Star State remains the No. 3 hottest U.S. destination for international homebuyers. Texas ranks behind Florida and California for the fourth consecutive year.

From April 2022 to March 2023, 9,900 Texas homes were purchased by buyers from outside the U.S. These homes make up 11.7 percent of the total number of Texas Realtors sales transactions.

For comparison, Florida (No. 1) accounted for 23 percent of purchases, with California (No. 2) at 12.2 percent.

"Texas has long been one of the most…

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"Austin is home to the 8th most attractive U.S. housing market, new report says"

Posted by Grossman & Jones Group on September 5th, 2023

CultureMap Austin writes, "when it comes to places to buy a house, Austin still remains near the top of the list. So says WalletHub's highly anticipated 2023 report on the best real estate markets in the U.S.

The new study by the personal finance website, released August 22, names Austin the No. 8 most attractive real estate market in the country. The state capital joins a host of other Texas cities within the top 10.

Texas housing markets have dominated WalletHub's report throughout the years, showing resilience as other markets rise and fall. Austin and its Central Texas neighbors have been at the top in similar reports, but the city has slid in WalletHub's 2023 report after ranking No. 4 in the 2022 edition and No. 2 in 2021.

With a great…

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