Grossman & Jones Real Estate Blog - development

"Lake Austin luxury development employs VR to place owners in homes before they're built"

Austin Business Journal writes, "the Four Seasons Private Residences Lake Austin is still a few years away from completion on Bridge Point Parkway near the Pennybacker Bridge.

In the meantime, prospective buyers can experience the luxury residential development's homes and amenities through virtual reality, an example of how new technology is changing the marketing of real estate.

Site work began Feb. 8 on the project but, by donning a pair of VR goggles, one can already walk around the 145-acre Lake Austin property's sprawling homes and more than 100,000 square feet of amenities.

Jonathan Coon — partner at Austin Capital Partners, which is co-developing the project with Four Seasons Hotel and Resorts and Hines — believes the use of VR to…

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"Nearly complete, Sixth and Guadalupe skyscraper takes Austin skyline to new level"

Austin Business Journal shares, "the end of construction is in sight for the Sixth and Guadalupe high-rise. But already, the view from the top of Austin's tallest building is unlike anything else in the city.

The 66-story mixed-use tower, which broke ground in 2019, could welcome its first apartment residents in October, said Tony Curp, senior vice president of development at Kairoi Residential. Sixth and Guadalupe is being developed by Kairoi, which is handling the residential portion; Lincoln Property Co., which is handling the commercial portion; and investor DivcoWest. The tower was designed by Gensler and JE Dunn Construction Group is the general contractor.

Curp this week hosted Austin Business Journal on an exclusive first-look tour of…

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"New homes in one of Austin’s most expensive neighborhoods to begin at $12.5M"

CultureMap Austin reports, "development plans for a secluded, luxury residential community have been announced in Westlake Hills, one of Austin’s most expensive neighborhoods.

Spearheaded by design firm Unicus Developments, FIVE will consist of five contemporary luxury homes on 5.5 acres of land at 3605 Stoneridge Road. Prices for the homes begin at a jaw-dropping $12.48 million.

"The neighborhood where FIVE is located is a coveted opportunity in the highly sought-after Eanes district,” says Eric Moreland of EM group with Moreland Properties, the brokerage firm for the development. “Each FIVE home has a unique finish out and delivers the ultimate experience in refined living.”

Every home in the private, gated community will be painted in…

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"New 76-unit apartment complex adds more density living to Central Austin"

CultureMap Austin writes, "Austinites who want to have a sophisticated experience while living near the heart of the city can find it in a newly-constructed, multi-family development complex in Highland this April.

The Johnny apartment complex will begin leasing their 16 affordable housing units and 60 market-rate units on April 1, according to their website. Located at 613 West St. John’s Avenue, the complex is just an eight-minute walk (less than half a mile) from the Metro Rail’s Crestview Station, making it a great transportation option for residents.

Construction of the complex began in November 2022, with design and development done in a partnership between Austin-based real estate firms The Geyser Group and Sephira Group.

“The Johnny…

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"New neighborhood of up to 1,600 homes gets green light in Caldwell County"

Austin Business Journal reports, "the Caldwell County Commissioners Court unanimously approved March 28 a development agreement between the county and a subsidiary of Lennar Corp. for a neighborhood of up to 1,600 homes in the rural area south of Austin.

The development agreement will allow Lennar — one of the region's busiest homebuilders — to transform the 491-acre parcel into a large community of single-family homes, plus parkland and amenities, according to county documents. Cotton Gateway, as the development is currently known, would be a significant injection of new homes in Caldwell County, part of the region stretching between Austin and San Antonio that some experts believe will evolve into the state’s next metroplex.

The development…

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"Lennar could build 1,600 more homes in Caldwell County"

Austin Business Journal repots, "the Caldwell County Commissioners Court will consider March 28 the approval of a development agreement with Lennar Homes of Texas Land and Construction Ltd. to build a 491-acre neighborhood.

The single-family, master-planned community to be known as Cotton Gateway would be located across the road from the San Marcos Regional Airport at State Highway 21 and William Pettus Road, according to the meeting agenda, and would consist of up to 1,600 lots. The development brings with it a number of obligations for both Lennar and Caldwell County.

Florida-based Lennar Corp. (NYSE: LEN) did not immediately respond to requests for comment.

According to the development agreement, all single-family lots would be a minimum…

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"‘They’re in a hurry’: Elon Musk is building his own town in Texas. Here is everything we know about it"

Elon Musk is planning on building a “utopia” in Texas, a whole new town on thousands of acres of farmland recently bought outside the state capital of Austin.

Deeds and land records show the extent of the project and the billionaire and Twitter owner has attended meetings with land owners and real estate agents in which he and his staff have outlined his ideas for the project that The Wall Street Journal calls “a sort of Texas utopia along the Colorado River” where staff could both live and work.

Top executives at the Boring Company, the Tesla CEO’s tunnelling firm, have looked into placing the town in Bastrop County 35 miles from Austin, allowing Mr Musk to regulate some issues in a municipality of his own and speed up the projects.

People…

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"Prices, construction timeline revealed for luxury Lunaroya neighborhood in Dripping Springs"

Austin Business Journal reports, "pieces are falling into place for a new luxury single-family community in Dripping Springs, including its name.

Nashville-based Southern Land Company LLC said March 1 the neighborhood, first revealed in January 2022, will be called Lunaroya. Prices for the 28 homes will start at "under $2 million," said Jenna Lefever, SLC director of public relations.

Infrastructure work has been underway on the 70-acre community since the third third quarter of 2022 and home construction is expected to begin in September 2023.

The floor plans and square footage range of Lunaroya’s homes are still being finalized, Lefever said. The neighborhood will consist of 10 1.5-acre home sites and 18 two-acre home sites across the…

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"These towers could raise the bar for North Austin's skyline"

Austin Business Journal writes, "while The Domain and its surroundings are often referred to as Austin’s second downtown, buildings there have never reached the heights of the Central Business District. But that may be starting to change.

In February, Austin City Council approved revised building regulations for the region known as North Burnet/Gateway that allow for denser and taller construction up to 491 feet, or about 45 stories. The previous limit was 360 feet.

While some towers were already planned to reach 300 feet in this area, more recent projects are stretching toward the new upper limit of construction,

"They are responsive to energetic growth in this area of my district," said Council Member Leslie Pool, who represents District 7,…

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"Dirt to turn on 586-home neighborhood"

Austin Business Journal shares, "almost 600 new homes will spring up in the fast-growing suburb of Dripping Springs during the next three years or so — welcomed development in a region still short on housing.

Tri Pointe Homes Inc. enlisted the aid of “Queer Eye” star Bobby Berk to design the model home for the new neighborhood the homebuilder is co-developing with Ohio-based M/I Homes Inc.

The 188-acre development — known as Heritage — will be home to 586 homes at full build-out, according to a Jan. 26 announcement. The Berk-designed model home will serve as both a marketing resource and a design inspiration tool for potential homebuyers interested in Tri Pointe’s offerings in the development, said Chelsea Timmons, vice president of community…

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