Grossman & Jones Real Estate Blog - atx

"Big mixed-use project expected to rise in South Austin's St. Elmo District"

A big mixed-use development is being planned in the St. Elmo District.

The development, known simply by its address of 4201 S. Congress Ave., would feature around 200,000 square feet of retail, restaurant and office space in multiple mid-rise buildings at the intersection of South Congress Avenue and Industrial Boulevard, according to a site plan application filed with the city.

The developer and owner of the property is an entity called 4201 S Congress Ave Owner LLC, the address of which matches that of California-based developer Redcar Properties, which is developing a creative office project farther south in the St. Elmo District. Redcar did not respond to requests for comment.

The eight proposed buildings carry a range of uses and sizes,…

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"Austin boasts 9th highest rate of new home construction in U.S."

CultureMap Austin writes, "Austin is trying to accommodate its housing demand by building more homes than most other U.S. cities, a new report has found.

According to a new ConsumerAffairs housing report, Austin has the ninth highest rate of new home construction in the nation for 2025. The research platform analyzed new building permits and new construction home sales from January and February 2025 in the 150 largest U.S. cities.

Houston (No. 1) and Dallas (No. 2) led the nation as the top two cities building the most new homes this year.

The findings revealed there were 3,889 new building permits issued during the first two months of the year in Austin, and 520 newly built homes were sold during that same period.

The city is keeping pace…

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"Metro's fastest-growing neighborhood to add another 1,000 homes"

Austin Business Journal writes, "Liberty Hill’s Santa Rita Ranch just keeps growing.

The sprawling 3,700-acre development — where more than 4,000 homes have been sold — is already the region’s fastest-growing neighborhood. Now, 1,000 more homes are going to be added to the community, according to an announcement.

Perry Homes will build the new homes in an area called Eldorado Village. They'll rise on 50-, 60- and 70-foot lots, with 66 different floor plans available to buyers. Floor plans will range from 2,100 square feet to 4,891 square feet.

“We’re particularly excited about Eldorado Village because of its location in the community,” stated Santa Rita Ranch developer Ed Horne. “These homesites are situated on some of the highest points in…

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"High-End Home Sales Show No Sign of Slowing Down—and They’ve Doubled in This Southwest City"

Realtor.com writes, "Home sales during this spring selling season have faced a slump—but one part of the market is bucking the trend. Luxury buyers are stepping up, and in at least one city, sales have doubled in a week.

Luxury real estate across the country continues to outperform the median, and the $1 million-plus category has been the fastest-growing (or least-declining) sales segment for nearly two years, according to the National Association of Realtors®.

"Higher-end homeowners have substantial equity and are less reliant on mortgage financing. These types of properties have outperformed," says Danielle Hale, chief economist of Realtor.com®.

And in the past week, the Austin, TX, high-end market has been heating up. There were 15 newly…

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"Fresh Out of College? These Are the 10 Best Cities Where Graduates Can Actually Afford To Rent"

Realtor.com shares, "College graduates embarking on careers and setting up homes in new cities might not think of Austin, TX, as the most affordable place to live—but that would be a mistake.

It has everything a young adult could want, including job opportunities, shorter commutes to work, and plenty of amenities like cafes, restaurants, and nightlife, according to the latest Realtor.com® report.

The median monthly rent now stands at $1,450, under the national median of $1,699.

"Austin stands out as the top-ranked city thanks to its strong performance across multiple factors that matter most to recent college graduates—including relatively affordable housing, robust job prospects, a larger peer network, and a lively, culturally rich…

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"Leander, Pflugerville, Cedar Park among top 25 'best places to live' in US"

Austin Business Journal shares, "Austin has been outshone by its suburbs recently in terms of affordability and population growth, and U.S. News & World Report's latest ranking of the "best places to live" in the country continues the trend.

Three of the city's suburbs — Leander, Pflugerville and Cedar Park — made the top 25, with Leander at No. 8, Pflugerville at No. 15 and Cedar Park at No. 23.

Austin, meanwhile, came in at No. 164, marking a huge tumble from No. 9 in last year's ranking. But the steep fall is deceptive, because U.S. News & World Report drastically expanded its latest list to include many smaller cities, collecting data on more than 850 cities compared with just 150 previously. Of those it analyzed this year, the top 250 were…

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"Austin's housing inventory went up and sales fell in April, per report"

CultureMap Austin shares, "Austin's homebuyers are uncovering an uncertain future for the housing market, as April sales took a nearly 14 percent dip from last year and housing inventory increased by 11.5 percent.

The latest real estate report from the Austin Board of Realtors (ABoR) and Unlock MLS said Austin's April housing data closely resembles a nationwide trend of higher mortgage rates and a decline in home sales.

New home listings in the Austin-Round Rock-San Marcos metropolitan statistical area (MSA) rose to 5,710 homes in April, adding to a total number of 13,351 active home listings. That's nearly 20 percent more from April 2024.

Only 2,484 homes in the Austin area were sold in April, and median home prices took a small 3.2 percent…

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"Plan for golden tower on West Sixth Street moves forward"

Austin Business Journal shares, "Plans for another mixed-use residential tower downtown took a step forward this week. 

The Austin Planning Commission approved the proposed 66-story tower at 701 W. Sixth St. for inclusion in the city's downtown density bonus program on May 13, which would allow for the project to double its floor area ratio from 15:1 to 30:1. 

The project could have 413 residential units and retail space, according to city documents. It's in a capitol view corridor, however, which limits how tall certain parts of it could go regardless of the density bonus program.

Property owner Kairoi Residential, a San Antonio-based developer, also is involved in building the tallest tower in Texas, called Waterline, at 98 Red River St. It…

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"Austin suburb buys downtown land as it aims to facilitate growth"

Austin Business Journal shares, "One of Austin's growing suburbs will purchase a one-acre parcel in its city center, continuing a wave of cities around the region taking control of land in their downtowns.

The Elgin City Council on May 6 unanimously gave the go-ahead to its economic development corporation to acquire a property at 403 Central Avenue, near the city's new police station. The EDC in February approved the $305,500 purchase from DLJ Holdings LLC. The property was valued for tax purposes at $153,000 in 2025, according to Bastrop County property records.

With the move, the city of Elgin — about 25 miles northeast of Austin with a population of around 12,000 — will acquire a key parcel on the fringes of the city's downtown, which is…

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"Half of Texas homeowners don't know they can protest taxes, study says"

CultureMap Austin shares, "some people might be surprised to find out that their taxes are negotiable — at least when it comes to real estate. Specifically, 53 percent of Texas homeowners don't know they can protest their home's property tax evaluation, according to a study by Ownwell, a service that makes homeowners' cases for them.

Put simply, since homeowners are taxed on the assessed market value of their home, an over-appraisal by the local tax office can lead to paying too much in taxes. Homeowners in this situation can lower what they owe by telling tax appraisers what they believe the real value of the home is, and the two entities will negotiate to find an acceptable number. Appraisals reflect the value of the home on January 1 of that tax…

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