Luxe Austin Homes - construction

"Developers in Travis County regain public improvement districts but with higher fees"

Austin Business Journal writes, "developers in Travis County have a financial tool back at their disposal that's designed to support large-scale real estate projects, but they may not be supportive of all the changes made to the reworked program.

That's because revisions to public improvement districts, or PIDs, include an increase in community benefit charges tied to certain projects. Previously, developers paid a fee equal to 10% of total investment if their projects didn't include enough affordable housing, but that has been raised to 17.5%. The application fee for a PID has also been increased from $55,000 to $150,000.

Adam Boenig, co-president of Brohn Homes — among the region's most active residential developers — called the higher fees a…

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"Hundreds of apartments slated to rise in Thomas Ranch development west of Austin"

Austin Business Journal reports, "Thomas Ranch, a 2,200-acre mixed-use project on the shores of Lake Travis, continues to take shape.

Salt Lake City-based developer Areté Collective LP has been toiling away on the first phase of construction — a private residential community named Loraloma — while Wasatch Premier Properties recently came on board to build hundreds of multifamily units on another 58 acres west of Austin. Areté Collective recently sold the 58 acres to Wasatch, an arm of Utah-based Wasatch Group, according to a Jan. 30 announcement.

Wasatch's "decision to become the inaugural development partner within Thomas Ranch’s downtown district brings us one step closer to delivering a lively destination to live, work, and play in West…

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"Austin homebuilder using unusual method to rapidly build 900 homes in Georgetown"

Austin American-Statesman reports, "hundreds of homes are headed for fast-growing Georgetown, north of Austin in the five-county Central Texas region..

Aztec Group's Brell Tarich and Jason Shapiro arranged $33.25 million in construction financing for the first phase of the single-family housing development. Aztec is a real estate investment and merchant banking firm based in Miami.

The builder, Onx Group, is a Texas-based residential developer that uses cutting-edge technology to streamline the pre-construction, manufacturing and assembly process. Through its proprietary construction method — X+ — Onx manufactures individual rooms, bathroom pods, walls and more at offsite production facilities near its housing developments.

In November, Onx…

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"Real Estate Roundup: Local firm snatches up lots of space in St. Elmo, plus more deals to know"

Austin Business Journal reports, "one of the biggest property owners in South Austin’s St. Elmo Arts District acquired a whole lot more real estate in the neighborhood in December.

Austin-based Veloway Threads — owners of The Yard and other properties where business such as Icon, Tesla, Still Austin and St. Elmo Brewing lease space — purchased eight properties within the district last month, said Priscilla Sauceda, vice president of operations and community at Veloway Threads. The area, which a few years ago was a sleepy industrial hub, has piqued the interest of many developers and is rapidly changing into a mixed-use destination.

The firm also purchased four other properties outside of St. Elmo, and all 12 properties together pushed Veloway’s…

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"Stream plans to begin East Sixth Street transformation in new year"

Austin Business Journal reports, "a substantial facelift of Austin’s East Sixth Street will begin in the new year.

Stream Realty Partners LP said preliminary preservation work is planned to begin in early January as part of a major restoration of more than 30 properties along the popular street with Congress Avenue to the west and I-35 to the east.

The initial work will focus on restoring the facades and interiors of the Stream-owned buildings that have fallen into disrepair. The majority of interior and exterior work is scheduled to begin late in the first quarter of 2024 and early in the second quarter of the year, according to the developer.

The firm also disclosed that it will begin looking for new tenants in 2024 but it did not share if…

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"Top 10 Roadblocks for the Real Estate Market in 2024"

Realtor Magazine writes, "global unrest, economic uncertainty and eroding home affordability are among the top issues facing the real estate industry over the next year, according to The Counselors of Real Estate’s annual report, “Top 10 Issues Affecting Real Estate(link is external).” Each year, CRE surveys 1,000 real estate experts to gauge the emerging issues that could have the most significant impact on all housing sectors, particularly the commercial market.

“This past year has been challenging for some and opportunistic for others as the economy, office market and innovation continue to evolve and impact the market,” says CRE Global Chair William McCarthy. “Additionally, the housing shortage and infrastructure issues continue to cause…

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"North Austin neighbor has one of the hottest ZIP codes in the U.S. for new apartments, report finds"

CultureMap Austin writes, "nearly all of Austin has experienced a flurry of apartment construction to accommodate the equally expanding population in the last few years. In fact, five Austin-area zip codes were the hottest markets for new apartment construction between 2018 and 2022, according to a new rental market analysis by RentCafe.

Pflugerville makes a pflying leap over Austin
Most impressive in the Austin metro region, ZIP Code 78660 in Pflugerville was the No. 20 hottest market in the U.S., with a 64.5-percent growth rate for apartments. Nearly 3,900 new apartments were built in the last five years, according to the study.

Austinites and newcomers pflocking to Pflugerville likely moved there for its easygoing city life. H-E-B has also…

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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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"Madrone Canyon to add luxury homes in wealthy area"

Austin Business Journal reports, "a luxury housing project is rising on a 140-acre canyon in Bee Cave where developers are touting unparalleled Hill Country views.

Ames Design Build LLC is behind the development, called Madrone Canyon, which will be home to more than 100 residences. Ames Design Build owner Brett Ames is also the founder and managing principal of Inspire Development, which is behind the $2 billion mixed-use Pearson Ranch development in southern Williamson County.

Madrone Canyon will feature a mix of custom and spec homes, Ames said. Lot prices begin in the high $400,000 range, while homes are expected to range from $3 million to over $5 million, according to an Oct. 10 announcement. The development will add more pricy homes to a…

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"Ryman plans $40M renovations to ACL Live at the Moody Theater, W Austin hotel"

Austin Business Journal reports, "Opry Entertainment Group, a subsidiary of Ryman Hospitality Properties Inc. (NYSE: RHP), will begin work this week on a $40 million renovation of downtown Austin’s Block 21, the Second Street mixed-use development home to Austin’s ACL Live at the Moody Theater and the W Austin hotel.

The renovation will include the construction of a new 2,060-square-foot terrace enclosure over the existing PNC Plaza, which will serve as a private event space designed to serve both ACL Live and the W Austin and is planned to be completed by the summer of 2024. Other improvements include a facelift to the W Austin entrance and other public spaces on site including its coffee shop, restaurant and bars. Renovations of the hotel’s more…

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