Luxe Austin Homes - community

"Austin considers change to density bonus programs to address public safety needs"

Austin Business Journal reports, "developers working in Austin may eventually have a new tool when seeking additional building height for their projects.

With police and fire response times unacceptable in some cases, City Hall has taken steps toward a new element to its density bonus programs that would offer incentives to developers if they donate land to the city that can be used for public safety facilities.

During its Nov. 30 meeting, Austin City Council approved a resolution directing the city manager’s office to conduct a comprehensive review of the proposal and return to Council next year.

"We are running out of land and property to develop," said Council Member Mackenzie Kelly, who sponsored the resolution. "What I don't want to…

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"Austin's Zilker Park Annual Tree Lighting Ceremony, Sparkles With 57-Year Tradition"

Hoodline writes, "Austin's holiday spirit flickers to life with the 57th annual Zilker Holiday Tree Lighting Ceremony, a dazzling tradition aglow with over 3,300 lights, set to take place this Sunday, November 26. The city's beloved event, which will run from 6 p.m. to 7 p.m. at 2100 Barton Springs Rd., has enchanted Austinites since the first lighting back in 1967 as per KXAN report.

In a ceremony warmed by the community's eager anticipation, local entertainment, delicious food, and live music, young artists from Austin will experience the honor of lighting up the night.

Winners of the Zilker Holiday Tree art contest, Claire Bonyun and Maya Nolan, will "Flip the Switch!" in their respective junior and senior divisions, a tradition dating back…

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"First plots sold at 1,000-acre luxury residential community near Lake Travis"

Austin Business Journal reports, "the first 50 homesites have been sold at Travis Club, an incoming luxury neighborhood on Lake Travis. It's set to rise on more than a thousands acres 15 miles west of downtown Austin.

These first homeowners are being recognized as the “50 founding memberships” of the resort-style community that is being developed by Menlo Park, California-based real estate developer Haas & Haynie Corp. and Austin-based real estate investment firm Castle Hill Partners Inc., according to a Nov. 1 announcement.

This marks a notable step forward for the project that has been planned for more than a decade on the undeveloped bend of Lake Travis between Thurman Bend Estates and the Briarcliff community. This area, and just about all…

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"Hundreds of multifamily units, offices planned for Crestview neighborhood"

Austin Business Jounral reports, "a revised vision for Crestview Village first introduced two years ago is taking shape as plans gain momentum to build a high-density, mixed-use development with affordable housing near a transit hub in North Austin.

Owned by brothers Ben Barlin and Peter Barlin, 3423 Holdings LLC gained the Austin Planning Commission’s recommendation on Oct. 24 to seek an increased building height to 160 feet — about 15 stories — and participate in the city’s density bonus program, which will yield at least 10% dedication to affordable housing.

If brought to fruition, the project would help the city's goals for denser, transit-focused development along its primary corridors. It would also help Austin reach its net-zero…

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"Homebuilders turn to incentives to draw in priced-out buyer pool"

Austin Business Journal writes, "homebuilders continue to see sales momentum — despite surging mortgage rates and persistent affordability challenges — in part because they're pulling out the stops to lure buyers and ensure deals cross the finish line.

While a growing share of buyers have been locked out of the housing market because of rising mortgage rates, persistent home-price appreciation and a lack of existing-home inventory, the current environment also is creating some tailwinds for builders that can offer more competitive financing.

Housing starts increased 7% in September to a seasonally adjusted annual rate of 1.36 million units, according to the Department of Housing and Urban Development and U.S. Census Bureau data.

In fact, 31%…

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"First tiny home village in Austin suburb sees big demand"

Culturemap Austin reports, "a Round Rock developer built a first-of-its-kind community to bring a tiny solution to a large problem. He's tackling affordability with a new tiny home community called Mustard Seed Village.

"Very grateful. I mean, it's almost like a miracle in a sense," Mohammed Mbaya said.

Mbaya searched all over Cental Texas for an affordable place to live.

"Houses are expensive all around Round Rock, just like Austin. So to find a place like this in Round Rock, it's like, perfect," Mbaya said.

He said when he first found these homes, he wasn't immediately convinced. "Honestly, at first I was like, 'Tiny home, I don't know. I'm not sure how tiny it is,'" he said.

But after seeing the layout, he said it just made sense.…

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

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

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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"Homebuilder GFO Home offering 4.75% fixed rates on North Austin metro homes"

Community Impact Austin writes, "homebuilder GFO Home is expanding into Austin-area communities. In August, the builder is offering a variety of promotions, such as 50% off upgrades on to-be-built homes or a 4.75% fixed rate on quick move-in homes—available in Pflugerville, Georgetown, Liberty Hill and Manor—at no cost to customers.

A closer look

According to a news release, GFO Home has homes for sale at pre-grand-opening prices in two new Austin-area communities: Saddleback at Santa Rita Ranch in Liberty Hill, opening in September, and Enclave at Cele in Pflugerville, opening in October. GFO is also starting a new community in Leander near the San Gabriel River.

What else?

According to GFO Home, the builder currently has more than 50 inventory homes…

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"Lund Farm pitched as big neighborhood in rural area near Elgin"

Austin Business Journal reports, "a 570-acre community may be coming to the Elgin area with more than 1,800 single-family homes, hundreds of multifamily units and nine acres of commercial space.

A little-known company called Blossoms Development has proposed Lund Farm off State Highway 95, north of Elgin. The company wants to have a diversity of home types and prices, according to a public presentation posted online by the city of Elgin. It also aims to create a walkable neighborhood that leverages the natural features of the site by using floodplains as amenity space and restoring historic blackland prairie.

In addition to the single-family homes, Lund Farm could have nearly 650 multifamily units, plus parks, an amenity center and a possible…

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