Luxe Austin Homes - building

"The District mixed-use project moving forward even bigger than originally planned"

Austin Business Journal reports, "one of the region's most-anticipated projects is back on track — and much bigger than previously planned.

Eight years ago, Mark IV Capital, a Newport Beach, California-based commercial real estate firm, purchased a 66-acre plot near Interstate 35 and the State Highway 45 toll road for a project known as The District. But the plans subsequently stalled, mostly due to shifting market conditions stemming from the coronavirus pandemic.

Since then, the size of the project has more than doubled. The District is planned as a $500 million investment that will result in 3 million square feet of development and a minimum of 5,000 jobs at full buildout in 2039. Original plans called for 1 million square feet by 2039 and a…

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"Hundreds of home lots for sale near Caldwell-Hays border"

Austin Business Journal reports, "more than 500 homes could rise in the borderlands between Caldwell and Hays counties.

Misty Farms, as the neighborhood will be known, is primed for development on roughly 99 acres just off State Highway 21 at the intersection of Misty Lane and Farmers Road in Caldwell County, according to a marketing brochure. The property is owned by Maxwell Farms Partners LP, though broker and land development firm La Tierra Realty LLC is the entity that is marketing the development site.

Homebuilders will be able to negotiate to purchase specific chunks of the development or the entire property, said La Tierra broker Trevor McManis, who estimated that if a builder started working on the development now, it could start turning…

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"U.S. Housing Starts Drop to Lowest Level Since June 2020"

Realtor.com reports, "The numbers: Construction of new U.S. homes fell 11.3% in August—falling short of Wall Street expectations—as builders scaled back new projects to focus on completions.

The pace of construction reversed course and fell as mortgage rates stayed over 7%, dampening home-buying demand. The last time construction of new homes was at this level was in June 2020.

So-called housing starts fell to a 1.28 million annual pace from 1.45 million in August, the government said Tuesday. That’s how many houses would be built over an entire year if construction took place at the same rate every month as it did in August.

Economists on Wall Street were expecting a drop in starts to 1.43 million. All numbers are seasonally adjusted.

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

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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"Austin booms as No. 7 U.S. metro for new home construction in 2023"

CultureMap Austin writes, "Austin already has one of the most active real estate development markets within the last decade and holds a top 10 rank for the most built-to-rent homes. Now, the Austin metro area has now earned another top 10 spot for the seventh-highest new home construction rate in 2023, according to a recent analysis by Chamber of Commerce.

The booming housing construction is just one way Austin is trying to keep up with its remarkable population growth.

The June 2023 edition of the "Cities with the Most New Homes" analysis discovered that despite new home permits being down over 20 percent year-over-year from 2022, the state capital's housing market is still on the rise.

"Numerous factors such as limited inventory in the…

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"Homebuilding starts to pick back up as buyers adjust to new pricing norms in tight market"

Austin Business Journal reports, "after months of slowdown in the wake of weaker buyer demand, homebuilders are starting to pick back up on construction — and feeling more confident about the housing market since mortgage rates surged last year.

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1.63 million, a 21.7% increase from the April estimate of 1.34 million, the U.S. Census Bureau reported this week. Meanwhile, privately owned housing units authorized by building permits last month were at a seasonally adjusted annual rate of 1.49 million, 5.2% higher than in April but 12.7% less than the May 2022 rate.

The jump in home starts observed last month is notable, said Kelly Mangold, a principal at RCLCO Real…

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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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"Housing Market Predictions For 2023: Are Home Prices Finally Becoming Affordable?"

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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"Austin Housing Market Forecast"

U.S. News reports, "given the enormous popularity of the greater Austin, Texas, area for online searches, newcomers and employment growth, it may act as a reasonable bellwether for the state of the U.S. housing market. This will certainly be tested in the spring and summer selling season, when the National Association of Realtors reports that about 40% of sales of existing homes throughout the U.S are historically made between the months of May and August. Besides offering warmer weather, buying a home during these months allows buyers with school-aged children to shop, bid, close and move into a new residence before the start of a new school year.

Similar to the overall U.S. housing market in mid-2020, the Austin housing market went into…

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"Meet Verde Square, Giving Austin’s Soccer Stadium a Brand New Skyline"

Towers reports "with new towers and height-friendly rezonings throttling up the pace of growth around the Domain area of North Austin all the time, it’s kinda hard to keep up with everything planned here — but there’s one upcoming project you really ought to know, since it’s one of the most promising steps in this ongoing experiment of converting the suburban sprawl around the intersection of Burnet Road and Braker Lane to an almost downtown-like urban environment.

Verde Square, planned by local firm Ironwood Real Estate in partnership with Austin-obsessed global real estate firm Karlin, imagines a four-building complex on more than six acres of land along Burnet Road located just west of the new Q2 Stadium, taking full advantage of this…

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