Luxe Austin Homes - construction

"PIPELINE SHRINKS FOR SKY-HIGH LIVING"

Austin Business Journal writes, "There's likely to be a multiyear pause in new residential construction in downtown Austin in the wake of a recent building boom, experts say.

Downtown residential projects completed in recent years include the 56-story The Modern Austin Residences developed by Urbanspace, the 41-story Vesper condo tower developed by Pearlstone Partners and The Linden, a 28-story condo tower developed by Reger Holdings LLC and the Armenia Group.

The area has been a big draw for wealthy Austinites, lured by its unique combination of nightlife attractions, dining opportunities, residential development and office buildings that make it possible to live close to work. That has made the main downtown ZIP code — 78701 — the wealthiest…

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"Where are new homes planned in the Austin metro?"

Austin Business Journal shares, "Some Austin suburbs promise new homes aplenty.

The Austin Business Journal reached out to the city of Austin and its 19 biggest suburbs to survey them on how many single-family homes they report in their development pipelines. Cities measure that differently, and the number includes counts at various stages of entitlement and construction. It's an imperfect science, but it helps gauge how cities are preparing for what's to come in their backyards.

Cities like Kyle (nearly 44,000 homes) and Georgetown (nearly 32,000) have robust pipelines. Taylor (about 8,500) and Buda (about 6,600) are next in line. Meanwhile, Cedar Park is nearing capacity and only reported 200.

Among the highest is Lockhart. The city grew…

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"Your dorm didn't look like this"

Austin Business Journal writes, "Move-in started Thursday at a luxury apartment complex across the street from from Ohio State University.

Rambler Columbus is the first development in the state by Austin-based LV Collective, following three years of construction. The seven-story, 407,500-square-foot complex at 222 W. Lane Ave. has 379 units for a total of 889 beds, with average per-room rent of $1,500.

"I would have loved to live here," said Brenna Voye, leasing and marketing manager, an OSU graduate, who had lived in dorms, a sorority and an off-campus house.

Daydreamer, a coffee shop in the lobby, will open to the public in late August. Victory Lap, a ground-floor bar and pizzeria, is still under construction, and there's a retail space…

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"Homes hit the market in Georgetown’s Park Central neighborhood"

Community Impact shares, "Tri Pointe Homes, the developer and builder of the Park Central neighborhood in Georgetown, began selling single-family homes and townhouses in the new neighborhood this summer, according to a news release.

The details

Located on 77.8 acres near Patriot Way and SH 130 Toll, the neighborhood features 191 single-family houses and 256 duplex-style townhomes. Tri Pointe offers 18 floorplan options at Park Central, bringing home options that range from about 1,800-2,900 square feet.

In addition to the homesites, Tri Pointe plans to bring a number of amenities to the community, including a 10-acre community park with walking trails, a scenic pond and open green spaces.

Construction on a clubhouse and a pool is expected to begin this…

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"Hill Country Changes"

Austin Business Journal reports, "Thousands of trees have made way for the next phase of a neighborhood offering lakeside living.

ABJ Photojournalist Dave Creaney and his drone were out and about in the Lake Travis area recently, and in this neck of the woods he found notably more water than usual due to the weather but significantly fewer trees due to demand for housing.

Lakeside at Tessera has been rising in the Lago Vista suburb for a few years. Homebuilders include Coventry Homes, Highland Homes, Saratoga Homes, Toll Brothers Homes, Trophy Signature Homes and Westin Homes. A private boat dock and pool will be among the amenities.

The neighborhood is next to the Balcones Canyonlands National Wildlife Refuge, which is owned and managed by…

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"2 big apartment complexes pegged for North Austin"

Austin Business Journal reports, "Two big multifamily projects are in the works for North Austin.

Developers have filed plans with the Texas Department of Licensing and Regulation for two projects that would see almost 800 residences and more than one million square feet of new development built over the next two years. They're planned at a time when the city is grappling with elevated vacancy rates in its multifamily market, but there's a hope that by the time they're delivered, the market will be in a healthier place.

Brockton Residential

The first of the two new North Austin projects is called Brockton Residential. From Atlanta-based Portman Holdings, the project is being planned at 2545 Brockton Drive, according to the TDLR filing.

The…

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"About 1,400 new homes pegged for fast-growing Lockhart"

Austin Business Journal shares, "A big development in Lockhart will add about 1,400 homes to the fast-growing city south of Austin.

Houston-based Perry Homes is already hard at work building infrastructure for its Juniper Springs neighborhood, which will total about 400 acres, said Chris Little, president of Perry Homes Central Texas. The neighborhood also will have a new elementary school that will be part of the Lockhart Independent School District, according to an announcement.

“Heavy infrastructure work [at Juniper Springs] has been underway,” with completions of lots expected this summer and model homes ready to tour in the fall, Little said.

He described Juniper Springs as a “legacy project for Perry Homes” that will be built over…

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"Second phase of sprawling Hill Country master-planned community to rise soon"

Austin Business Journal shares, "Hundreds of homes are set to rise west of Austin after a developer secured a $106 million loan for the next phase of a master-planned community.

Austin-based Masonwood Development will begin the second phase of its Provence community early next year, CEO Jim Meredith said in a statement, thanks to the loan from Canadian-based Trez Capital.

The closing of the loan enabled “us to to immediately begin the infrastructure and development of Phase II of this prized project,” Meredith said.

Masonwood collaborated with John Hutchinson and Jason Stowe at Trez Capital to secure the loan.

Provence, a 910-acre development at 16314 Hamilton Pool Road, broke ground in early 2018 and 151 homes have been built so far. But…

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"Multiple new multifamily projects on tap, from The Domain to South Congress"

While deliveries of multifamily projects in the Austin area have been forecast to decline in the coming years, some are still being planned.

From The Domain to South Congress Avenue, developers have projects on tap ranging from townhome complexes to mid-rise apartment buildings, according to three site plan applications filed with the city. They're in the works at a time when uncertainty swirls around the metro's multifamily market and a number of other projects have been canceled or delayed.

Multifamily vacancy came in at 15.5% in April, according to ApartmentData.com, an elevated level that's a concern for developers and property managers because high vacancy rates lead to lower rental rates and less new development as investors hesitate to…

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"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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