Grossman & Jones Real Estate Blog - atx

"Luxury residential community coming soon to San Marcos"

Community Impact reports, "Alta Center Point, a luxury residential community located at 625 Gregsons Bend, is being built in San Marcos.

The multifamily residential community is being developed by Wood Partners and Pursuant Ventures Development, led by Tyler Sibley and will offer 330 apartment homes with a mixture of one-, two- and three-bedroom floor plans.

Alta Center Point will have a resort-style pool, outdoor kitchen and a dog park along with a clubroom. Residents will also have access to a high-tech fitness center, conference area with multiple personal workspace offices and a variety of entertaining spaces.

According to Donya Mansoorian, an assistant account executive for the Wood team, the development anticipates opening its first unit in the…

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"1,200-home Adelton neighborhood rising in Bastrop"

Austin Business Journal reports, "work is underway on a 348-acre mixed-use neighborhood in Bastrop and the search is on for commercial tenants to set up shop on three sites.

Homebuilders broke ground in October on the master-planned development, called Adelton, off State Highway 21 and Farm-to-Market 20. Plans call for 1,200 homes, 125,000 square feet of commercial space, four miles of trails and 50 acres of parks, according to a May announcement from developer West Bastrop Village Ltd., an entity tied to Austin-based Benchmark Land Development Inc.

Phase one of the project, which is estimated to take 10-15 years, is underway with homebuilders David Weekley Homes and Empire Communities already completing two model homes. Developers are now eager…

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"Austin ranks third in national real estate construction"

Urbanize Austin reports, "in the past decade, the pace and amount of Austin real estate development has eclipsed that of all but two other cities in the nation (both in Texas), according to a new report from Storage Cafe, an online platform that provides storage unit listings across the nation.

The StorageCafe study looked at inventory expansions from 2013 to 2022 in the 100 largest U.S. cities to determine real estate growth. It analyzed new construction data for the country’s most populous cities, based on square footage in the case of commercial assets (industrial, office, retail and self storage) and on building permits in the case of residential units. It also analyzed unit count data from U.S. Census building permit records and deemed it a…

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"Guide: Cool off at these 19 Central Texas splash pads this summer"

Community Impact Austin writes, "ff you are looking for a new place to cool off this summer, check out Community Impact's regional splash pad guide, featuring destinations from across Central Texas.

This list is noncomprehensive.

NORTH CENTRAL TEXAS

1. Brushy Creek Lake Park’s splash pad includes both ground and raised water elements on a concrete pad.

• Cost: free
• Hours: 9 a.m.-8 p.m. daily, weekends only in September
• Dates open: May 1-Sept. 30
• 3300 Brushy Creek Road, Cedar Park. 512-401-5500. www.cedarparktexas.gov

2. The splash pad in Downtown Georgetown is directly next to the city’s art center in its brick courtyard.

• Cost: free
• Hours: 9 a.m.-8 p.m. daily
• Dates open: April 1-Sept. 30
• 816 S. Main St.,…

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"Private developer plans to build 600-acre public park in east Austin"

KXAN reports, "a private developer plans to fund and construct a 600-acre public park in east Austin that will one day be donated to the city of Austin and its park system.

Douglas Gilliland, the managing director for Taurus Investment Holdings, describes the park as the “Zilker Park of east Austin.” The new public park will almost double the size of Zilker, will be sandwiched between Walter E. Long park and the East Metropolitan park, and will tie in to Travis County’s 14-mile public trail system.

Cost and scope of the project

Gilliland said the project will be privately funded and cost $8 million to complete. The park will be built and designed over the span of six to seven phases in the next seven years. Gilliland said he is hoping to complete…

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"Georgetown is the fastest-growing city in the U.S."

Austin Business Journals reports, "for the second year in a row, a city in Williamson County was estimated by the U.S. Census Bureau to be the fastest-growing city in the country. It was one of three Austin-area cities that ranked among the top four.

Georgetown reached a 2022 population estimate of 86,507. That's a 14.4% year-over-year increase, according to a May 18 release from the U.S. Census Bureau. That ranked just ahead of Santa Cruz, California (61,800, +12.5%), Kyle (57,470, +10.9%) and Leander (74,375, +10.9%) among cities with a population of at least 50,000 people.

"Job growth in Georgetown and across the Austin metro continues to bring new residents to our city," Georgetown Mayor Josh Schroeder said in a May 18 statement. "People are…

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"Suburbs are setting the pace for migration. But patterns are shifting."

Austin Business Journal writes, "when it comes to population growth during the Covid-19 era, large suburbs are shining. Urban centers and rural counties? Not so much.

That’s according to new data from the U.S. Census Bureau with updated population estimates for 2022. 

Nationally, counties with populations of at least 250,000 in 2020 grew by an average of 0.84% between 2020 and 2022. For all counties, the average was 0.44%.

But a closer look at the data shows the strongest growth was generally in ring counties — suburban counties located within the nation's largest metro areas.

Among counties with at least 250,000 residents, the top counties for percentage growth were St. Johns County, Florida (located in metro Jacksonville); Hays County,…

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"Austin housing prices are down one year after setting spring records"

Austin Business Journal writes, "one year after setting a median sales price record of $550,000 last April, housing prices are down in the metro.

The median sales price in the Austin area was $466,705, a 15% year-over-year decrease that amounts to $83,295, according to the Austin Board of Realtors April market report. And while prices have been trending up in recent months, the year-over-year decrease is a welcome signal to Central Texas, which saw housing prices skyrocket at unsustainable rates during the Covid-19 pandemic to a level where many buyers were over-bidding on property. It wasn't uncommon for a $400,000 home to sell for closer to $500,000 in recent years.

“This is still a market that is seeing lots of activity, just not at a…

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"The Austin housing market is outperforming national trends, latest report shows"

CultureMap Austin shares, "housing inventory is on the rise, as is the number of days houses spend on the market, while prices are steadily falling. That spells another month of a balancing act in the Austin-Round Rock housing market, according to the latest report from the Austin Board of Realtors (ABoR).

“This is still a market that is seeing lots of activity, just not at a record-setting pace, and that is to be expected given broader economic trends,” said 2023 ABoR president Ashley Jackson. “Home prices are moderating, pending sales are holding strong, and homes on the market last month are selling closer to list price. These are all signs of a market that is still balancing and doing so in a healthy way.”

Housing inventory has continued to…

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"The Star Trek Tech Selling Luxury Condos in Austin"

TexasMonthly writes, "near the edge of a cliff that plunges hundreds of feet down to the shore of Lake Austin, a five-thousand-square-foot steel-frame structure with tentlike walls houses the potential future of ultraluxury real estate marketing: a holodeck.

The term comes from Star Trek, in which Federation starships were equipped with special rooms where crew members could create and interact with holographic environments. At Lake Austin, the enormous space brings to virtual life, in photographic detail, one of the most opulent condo buildings Texas has ever seen. Its creator bills it as the first installation of its caliber anywhere.

Let’s back up. When entrepreneur Jonathan Coon announced his plans to build a sprawling complex along the top…

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