Luxe Austin Homes - atx

"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…

370 Views, 0 Comments

"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…

397 Views, 0 Comments

"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,…

354 Views, 0 Comments

"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…

421 Views, 0 Comments

"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…

386 Views, 0 Comments

"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…

354 Views, 0 Comments

"Salvation Army lists downtown Austin acre"

TheRealDeal reports, "an acre of land in downtown Austin primed for redevelopment has hit the market. 

The Salvation Army is selling its parcel at East 7th Street and Red River Street, which currently has two buildings and a half-acre surface parking lot. The larger of the structures is the former Salvation Army Downtown Center at 501 East 8th Street, and the other is a 1,500-square-foot retail building at 718 Red River Street, which sits noticeably tenantless amid a string of happening bars and restaurants.

The parcel, half a city block in total, has the potential to be redeveloped as a 230,000-square-foot, mixed-use development. Peter Jansen and Jennifer Joseph of CBRE are marketing the property.

Red River Street sits between the more…

348 Views, 0 Comments

"9 Events and Festivals in Austin Every Local, Newcomer, and Visitor Should Check Out"

Redfin.com shares, "Austin, Texas, is known for many things: live music, food, and a thriving tech industry, to name a few. But another aspect of Austin’s unique cultural scene that can’t be overlooked is its abundance of festivals. From music and film to food and art, there seems to be a festival for just about every interest in Austin. These events draw in visitors from all over the country, providing a platform for local and regional talent and showcasing the city’s diverse spirit. Whether you’re looking to rent an apartment in Austin or are looking for a home in the area on Redfin, exploring the festivals in Austin is a must-do activity. Let’s take a closer look at some of the most popular and unique festivals in Austin, offering a glimpse into…

566 Views, 0 Comments

"Are bidding wars coming back to the housing market?"

Austin Business Journal shares, "although the spring 2023 housing market has little resemblance to the frenzied 2021 buying and selling season, there's evidence some markets and types of houses are starting to become more competitive, owing mostly to a lack of inventory.

Forty-eight percent of homes sold nationally during the four weeks ending April 30 went under contract within two weeks, down from 51% a year earlier but up from 46% a month prior, Seattle-based Redfin Corp. (Nasdaq: RDFN) recently found.

While demand for housing among buyers exists, a key reason for increased competition for certain homes is because inventory remains extremely tight. Owners who locked in record-low mortgage rates during the pandemic are hanging onto their…

398 Views, 0 Comments

"New incentives bolster burgeoning Bee Cave entertainment district"

Austin Business Journal reports, "the Bee Cave City Council on April 25 approved $3.25 million in incentives that will help build a road to service a growing entertainment corridor in the city that includes the revamped Backyard in Bee Cave project — on track to open next year.

During the last month, City Council has worked to clear the way for developers of a 28-acre site north of State Highway 71 and immediately west of Bee Cave Central Park to start work on what they say will be a mixed-use project that includes housing and dining options. That includes the extension of a road, Willie Way, that will also service a 35-acre site at 13801 Bee Cave Pkwy. that will house the long-anticipated revamp of the music-venue-centered mixed-use Backyard in…

418 Views, 0 Comments