Luxe Austin Homes - construction

Palladius Capital gets apartments in fast-growing Austin suburb

A major real estate investor in Austin has acquired a sizable apartment complex in the fast-growing suburb from a prominent developer based in the city.

Palladius Capital Management acquired the 342-unit, located in Kyle from Endeavor Real Estate Group, which completed the project earlier this year.

The sale price was not disclosed.

Kyle and other areas south of Austin have proven to be a popular market for multifamily construction and projects as of late

The complex Palladius got is called Citizen House Kyle, and located along the I-35 Innovation Corridor, part of the larger Dry River District, which includes a 65-acre mixed-use community also being developed by Endeavor Real Estate Group. The deal for the apartment complex includes one-…

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Apartment construction on fire in Austin area

By year’s end, Austin is projected to rank No. 4 among major metros nationwide for new apartments brought online, a welcome sign of relief in a region starving for both rental and for-sale housing.

That’s according to an Aug. 23 RentCafe study which found that Austin is projected to deliver 18,288 apartments in 2022.

That would be a five-year high and continue a trend of increased apartment construction since 9,107 units were delivered in 2019.

Already this year, the Austin metro ranks No. 2 in the nation with 4,236 apartments delivered, according to RentCafe. Houston ranks No. 1 with 4,746 apartments delivered and Seattle ranks No. 3, with 3,232.

Multifamily builders are rushing to meet a huge level of demand. A July study by Hoyt…

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RangeWater Breaks Ground in Austin

The company plans to deliver the first apartments in the fourth quarter of next year.

Multifamily real estate company RangeWater has commenced construction on The Darby, a new development in the Austin suburb of Manor, Texas. The Darby will feature 326 apartments and 24 townhouses spread across a 25-acre property. The company plans to deliver the first apartments in the fourth quarter of next year.

The garden-style apartments will be joined by townhouses that will offer three bedrooms, two-and-a-half baths, garages and private outdoor areas. A fitness center will be among The Darby’s leading common-area amenities.

RangeWater closed on the parcel three months ago, starting construction the following month. The property is located in the Texas…

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Report: Average apartment rents in the Austin area have hit an all-time high

Average apartment rents for the Austin area have hit an all-time high, an expert told KVUE's media partners at the Austin American-Statesman.

Charles Heimsath has been tracking conditions in the area's real estate market since the early 1990s. He told the Statesman that between December and June, average rents jumped by their largest percentage ever in the time he's been tracking the market.

Heimsath said apartment rents in the area – which spans from Georgetown to San Marcos – increased, on average, 11.6% from December to June. He told the Statesman that he expected to see a slow down during the first half of the year, but that didn't happen.

"Rents continue to rise with no relief in sight," Heimsath said.

The…

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Unique Lake Travis glass home featured on HGTV hits market for $1.2 million

A treehouse-like home near Lake Travis that’s been featured on HGTV can now be yours for $1.2 million.

The 1,653-square-foot house, just south of Hudson Bend at 2803 Manitou Dr., offers two bedrooms, two bathrooms, and plenty of rugged yet modern charm. The home is in the Apace Shores neighborhood.

Highlights of the contemporary home, situated on a half-acre wooded lot, include 30-foot-high glass walls and 11 sets of sliding glass doors. The two-story house, built in 2003 as architect John Allen’s own residence, is one of the few homes in the vicinity that provide private access to the Indian Creek hiking trail.

Allen “believed that the rugged and what many called ‘unbuildable’ lot was the perfect spot to accomplish his vision of living one…

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Austin builder unveils sleek prefabricated luxury homes starting at $600,000

A Buda homebuilder has brought a high-end approach to a type of housing that has often been lumped into the low-end category.

Escobedo Group has introduced a “panelized” construction system that enables a luxury home to be prefabricated and then installed on a homesite within roughly five months. So far, more than 70 of the company’s DARIO Villas homes have been built.

Over the years, prefab construction has frequently been associated with cheap, mass-produced housing. Following World War II, the British embraced prefab construction to address a severe housing shortage. Amid the 19th century’s California Gold Rush, prospectors relied on prefab homes to quickly provide shelter.

In recent years, prefab homes have gained fans as construction…

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Austin’s real estate is 'inching' toward normalcy as market shows signs of stabilizing

Knock on wood—real estate professionals are saying Austin’s housing market showing signs of stabilizing as local inventory hit two months for the first time since 2019.

Austin Board of Realtors CEO Emily Chenevert said after two years of pandemic-fueled prices, “we're inching our way toward something that feels more normal,” during the 2022 Central Texas Housing Summit—which brought industry professionals and economists together—on Tuesday.

Still, housing is one of Austin’s biggest fallbacks despite a diverse local economy, growing infrastructure investments, multiple nearby universities and a healthy job market. Stable housing falls in tandem with affordability, Austin Chamber of Commerce President and CEO Laura Huffman said.

“So what could…

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ABoR: Study calling Austin's housing market overvalued is flawed without context

We all know buying and building homes in the Austin area is expensive. Austin is outpacing other Texas cities when it comes to development fees for builders, and home prices have skyrocketed.

A recent study by Florida Atlantic University ranked Austin as the second-most overvalued housing market in the country. But is that true? Ashley Jackson, president-elect of the Austin Board of Realtors (ABoR), joined KVUE Midday to dig deeper.

Jenni Lee: According to Florida Atlantic University, buyers in Austin pay just a little bit more, but 67% more than they should. So, demand for new and existing homes is there, but there's not enough supply. Is the Austin housing market overvalued?

Ashley Jackson: "No, I do not believe the Austin…

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48-story condo tower planned for Austin's Rainey Street district

An Austin-based developer plans to start construction next year on a 48-story residential tower in the Rainey Street district on downtown Austin’s southeast side. The proposed high-rise would add to the ongoing building boom in the Rainey Street area, and in downtown in general. 

Pearlstone Partners plans to build the tower on two adjacent tracts that span from 62 East Ave. to 64 East Ave.  Although plans are still preliminary, Pearlstone executives say they envision a tower with 48 stories and 245 condominium units, although those numbers “could all very much change as we move through the design process,” said Chris Zaiontz, a Pearlstone senior vice president and principal.

The project still needs to wind its way through the city of Austin’s…

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Austin booms among hottest markets for industrial construction in new report

It's not just Austin's residential real estate market that's hot. Austin is among the hottest markets in the Southwest for under-construction warehouse and distribution centers.

Data published by Community Property Executive shows Austin had nearly 8.3 million square feet of industrial space under construction in late June. That represents a little over 7 percent of the existing industrial space (more than 114 million square feet) in the region. 

Austin ranks third in the Southwest, behind Dallas and Houston, according to Commercial Property Executive, at Nos. 1 and 2, respectively. Dallas is also the No. 1 market in the U.S., beating out Phoenix (No. 2) and Southern California's Inland Empire (No. 3) nationally.

In Austin and throughout the…

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