Luxe Austin Homes - development

"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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"First tiny home village in Austin suburb sees big demand"

Culturemap Austin reports, "a Round Rock developer built a first-of-its-kind community to bring a tiny solution to a large problem. He's tackling affordability with a new tiny home community called Mustard Seed Village.

"Very grateful. I mean, it's almost like a miracle in a sense," Mohammed Mbaya said.

Mbaya searched all over Cental Texas for an affordable place to live.

"Houses are expensive all around Round Rock, just like Austin. So to find a place like this in Round Rock, it's like, perfect," Mbaya said.

He said when he first found these homes, he wasn't immediately convinced. "Honestly, at first I was like, 'Tiny home, I don't know. I'm not sure how tiny it is,'" he said.

But after seeing the layout, he said it just made sense.…

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"Where tens of thousands of new apartments will rise between Austin, San Antonio"

Austin Business Journal reports, "the San Antonio and Austin metros have more more than 55,000 apartment units under construction, highlighting the immense fortune developers are poring into the emerging metroplex.

Just looking at the I-35 corridor between the two big cities, 23,000-plus units are proposed, under construction or have come online in the past 12 months, according to data from MRI ApartmentData, a multifamily analytics firm tracking Sun Belt markets.

That shows multifamily developers and investors are eager to keep pouring money into dense housing in the region. To be sure, there are thousands of single-family homes in the pipeline as well, although many experts have said denser, more affordable housing is desperately needed to…

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"Hundreds of home lots for sale near Caldwell-Hays border"

Austin Business Journal reports, "more than 500 homes could rise in the borderlands between Caldwell and Hays counties.

Misty Farms, as the neighborhood will be known, is primed for development on roughly 99 acres just off State Highway 21 at the intersection of Misty Lane and Farmers Road in Caldwell County, according to a marketing brochure. The property is owned by Maxwell Farms Partners LP, though broker and land development firm La Tierra Realty LLC is the entity that is marketing the development site.

Homebuilders will be able to negotiate to purchase specific chunks of the development or the entire property, said La Tierra broker Trevor McManis, who estimated that if a builder started working on the development now, it could start turning…

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"Luxury homes with hefty price tags rise in West Austin"

Austin Business Journal shares, "a new, gated luxury housing development is rising south of West Lake Hills.

The development itself may be small by most standards — five homes on 5.5 acres — but the size of the homes and their price point are not. The homes at Five, as the development is called, range from 6,700 to 8,900 square feet and list prices start at $12.5 million, according to Moreland Properties' Eric Moreland Group, which is marketing the homes for Houston-based developer Unicus Developments LLC.

Five isn't the sort of development that your typical Austinite could spring for, but it is the type of development that can serve a growing population of wealthy homebuyers as Austin's population continues to surge. Last year, the Austin metro…

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"Austin land use changes to see joint review by Council, Planning Commission"

Austin Business Journal reports, "amendments to Austin's land development code intended to boost building density throughout the city will soon be considered in a joint public hearing between the Austin City Council and Planning Commission. The changes could have a significant impact on housing supply in the city.

A meeting date has not been yet been scheduled but is expected to occur this year. Council on Sept. 21 approved a resolution calling for the joint public hearing, which was recommended by the city’s Housing and Planning Department.

The hearing shows there is political momentum behind the city's effort to address the housing shortage and correlated affordability concerns — as well as controversy. After a previous effort to overhaul the…

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"For Pearlstone Partners, $700 million in new investment is on tap for Austin market"

Austin American-Statesman writes, "Pearlstone Partners is doubling down on its commitment to growing in Austin.

Over the next three years, the Austin-based real estate investment firm said it plans to add three new projects totaling upwards of $700 million to its expanding portfolio. The new developments will further redefine the skyline and urban living in the city, Pearlstone officials say.

The privately held Pearlstone — one of the largest providers of for-sale housing in and near downtown Austin —already has invested about $500 million in two completed residential projects and three that are under construction.

Now, it is seeking capital partners for three future projects. The planned projects will add an additional $700 million to…

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