Grossman & Jones Real Estate Blog - development

"Sustainable East Austin community Whisper Valley gains new international homebuilder"

Austin Business Journal reports, "The latest homebuilder to get involved in East Austin’s Whisper Valley neighborhood — a Central Texas epicenter for innovation in sustainable housing — is pushing the limits of how quickly a home can be built.

Kosovo-based InstaBuilt LLC will build its first U.S. homes in Whisper Valley and also is establishing its North American headquarters in East Austin, according to a July 1 announcement.

The company's homes, which will take advantage of Whisper Valley’s geothermal and solar capabilities, are manufactured off-site and then assembled on-site in eight to 12 hours. Because of the technologies it uses, it's able to construct in an energy-efficient manner at a lower price than the average in Austin, InstaBuilt…

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"Meet the Ander Condo Project, Bringing Nearly 200 Homes to West Anderson"

TOWERS Austin writes, "Here’s a completely true thing you can say that will greatly irritate many people: Condos are pretty rare in Austin. Although they’re the boogeyman of choice for locals lamenting the relentless march of time, the fact is that the vast majority of new multifamily residential construction in Austin delivers apartments for rent, rather than condos for sale. Of the thousands upon thousands of new housing units constructed in the region since the start of the pandemic, condos make up about five percent or less of that total, and this isn’t great news for first-time homebuyers, since condos are often significantly less expensive than detached single-family homes.

The reason developers tend to prefer apartments over condos is all…

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"Riviera at Lake Travis: Unveiling a bold new vision of luxury living"

Austin Business Journal shares, "Welcome to Riviera at Lake Travis, where Texas charm meets unparalleled luxury living. Emerging from the acclaimed Montechino development, Riviera represents the pinnacle of lakeside opulence in Lago Vista, Texas, under a dynamic new management.

A new name, a new chapter

Riviera at Lake Travis represents more than just a name change — it’s a bold new vision. With fresh leadership guiding our transformation, we are introducing a level of refinement and attention to detail that reflects the finest Texan tastes. Riviera is not just a place; it’s a destination. Here, every sunset over Lake Travis inspires a lifestyle deeply rooted in luxury and comfort.

Opportunities for industry professionals

• Prime real…

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"Over 1,400 homes may rise in Lockhart"

Austin Business Journal reports, "Over 1,400 rooftops are slated to rise south of Austin as the city of Lockhart continues to grow.

Lockhart City Council on June 18 approved the addition of a 472-acre municipal utility district, called Juniper Springs, from Houston-based Perry Homes to the city’s extraterritorial jurisdiction, a move that required the ETJ to be expanded by 88 acres.

The new MUD would allow 1,428 homes to be built on the western edge of Lockhart along State Highway 142, officials said during the meeting. That amount of homes could result in dramatic population growth for Lockhart, a city that's attracted big projects and industrial development in recent years.

Lockhart’s growth over the past decade-plus has been muted, rising…

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"Home prices begin to come down in pandemic boomtowns like Austin, Tampa"

Yahoo! Finance writes, "Real estate prices surged nationwide when the pandemic hit. Bidding wars, all-cash offers, and contingency removals became commonplace.

Now, the tide has turned in some markets.

Home prices in some large US cities declined in April, according to mortgage data company ICE Mortgage (ICE). San Antonio and Austin in Texas, and Tampa, Florida — among the most popular cities during the pandemic — saw the biggest monthly price declines.

The shift comes as these markets recalibrate: Homesellers and house builders are adding more listings, just as fewer Americans are relocating there.

“The key differentiator we're seeing in terms of growing inventory levels in Florida and Texas is a rise in sellers' willingness to list their…

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"Work to start this fall on Four Seasons neighborhood on Lake Austin"

Austin Business Journal writes, "First there was the hotel. Then the condo tower next to the hotel. Soon, there will likely be an entire neighborhood here with the esteemed Four Seasons brand — 179 residences and nine villas in all on top of hills but with access to the lake via a funicular. Construction may begin soon.

Turnbridge Equities, a real estate investment and development firm responsible for major Austin projects such as Music Lane and the CitizenM hotel, has joined Austin Capital Partners and Four Seasons Hotel and Resorts as a development partner for the upcoming Four Seasons Private Residences Lake Austin, a luxury housing development on Bridge Point Parkway with views of Pennybacker Bridge, the West Austin hills and the downtown…

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"Local leaders discuss housing affordability, supply in Austin"

Community Impact Austin shares, "Area leaders are continuing to look for creative ways to increase housing supply and create sustainable housing options in Austin, such as changing development codes and spearheading efforts to grow the local workforce.

Amplify Credit Union hosted its second annual Central Texas Affordability Summit on May 23 with Amplify members; Mayor Kirk Watson; and a panel featuring Heather Donahue of MOD Architecture and Design; Jeremy Striffler, director of real estate and asset management at Austin ISD; and Hannah Rangel of the Downtown Austin Alliance.

The gist

Watson said the city has undertaken a number of initiatives to address its housing supply and affordability. In December, City Council approved the first phase of the Home…

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"More than 1K new homes on tap for fast-growing Georgetown"

Austin Business Journal writes, "Georgetown, recently crowned the fastest-growing U.S. city of over 50,000 people for the third year in a row, is getting a new housing development encompassing more than 300 acres.

The Georgetown City Council on May 28 approved the creation of a municipal utility district for Ragsdale Ranch, a housing development that would see more than 1,000 homes rise just a few miles north of Liberty Hill's Santa Rita Ranch — itself one of the fastest-growing neighborhoods in the metro.

Ragsdale Ranch is being developed by HK Ragsdale LLC, according to the meeting agenda, with Paul Kuo listed as the developer contact. According to his LinkedIn profile, he is a managing partner at HK Real Estate Development, a San…

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"Austin takes steps to ensure low-income residents can capitalize on zoning changes"

Austin Business Journal writes, "The new resolution, passed at the May 30 City Council meeting, tasks the city manager with identifying ways to improve access to the HOME program for low- and moderate-income households and expanding educational resources and technical help to households at risk of displacement due to gentrification. East Austin, where racial minorities were pushed about 100 years ago and gentrification concerns are top of mind, is likely to be a focus — though residents across the region have felt the effects of rising property values and urbanization.

Low-income households are those that earn 80% or less of the median family income, according to the Austin Housing Department. As of June 2023, 80% MFI for a three-person household…

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"New micro home neighborhood could help with affordability"

Austin Business Journal shares, "A development of over 200 “micro homes” is coming to San Marcos soon. 

Earlier this month, Casata broke ground on what will be a community of 210 tiny homes ranging from 500 to 800 square feet. Casata CEO Aaron Levy said this will be the largest community of micro homes in the region and potentially in the U.S. 

The community, which is about three miles north of San Marcos, will have several dog parks, six acres of trails and park space, a pool, a gym and much more. Levy said people will likely move into the new neighborhood in summer 2025.

Our partners at KXAN News have more here on Casata's micro-home project.

In 2021, the Austin Business Journal reported on plans by Casata, an Austin-based startup,…

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