Luxe Austin Homes - Luxury

"Wilson Capital Proposes 80-Story Apartment Tower in Austin, Texas"

REBusiness Online reports, "Wilson Capital, an Austin-based real estate development firm, has unveiled plans for Wilson Towers, an 80-story apartment building in Austin. Totaling 450 residential units and rising 1,035 feet, the development would become the tallest building in Texas upon completion.

The property is located at 410 E. Fifth St. in the heart of Austin’s downtown. It is less than a block from the MetroRail Downtown station, three blocks from the Congress Avenue retail and restaurant district, and six blocks from the Texas State Capitol building. Construction is scheduled to begin this summer.

According to local real estate publication Towers, the project is a massive expansion upon previously released redevelopment plans for the site…

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"Austin’s Luxury Home Sellers Shouldn’t Be Scared off by the Market Slowdown"

Although the dust is settling in Austin, Texas, after a two-year home-price explosion, indicators suggest reasons for sellers to be optimistic about the luxury market—even as median prices come down. 

Among cities where home prices are falling the most, Austin came in at No. 1 in a Realtor.com report. The median home list price in September was $558,275, a 10.3% decline from June, according to Realtor.com data. The percentage of sellers who reduced their list prices was up 252% in September. 

“There has been some initial shock where people had a little FOMO [fear of missing out] that they missed the market. So we saw agents restructuring prices with their sellers to find out where the market was,” said Gary Dolch, a founding agent of Compass and…

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"Why is the real estate boom in Austin slowing down?"

KVUE Austin reports, "more than two years ago now, 2020 saw what many real estate agents and developers called a gold rush in Austin, with homes being sold in a matter of hours. Now, the market appears to be slowing down.

"It's brought a lot of people here and it was just a perfect storm," said Chester Wilson, one of the owners of Greater Austin Builders.

Two years ago, many set their sights on Austin.

"Gold rush is a perfect term for it. I've been doing this for 25 years. It was unlike anything we've ever seen," said Cord Shiflet, the president of the Austin Board of Realtors.

However, Shiflet said Austin's real estate boom isn't going anywhere but that it's just slowing down.

He noted that rather than…

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"Novak Brothers Breaks Ground on Austin Luxury Apartments"

According to Multi-Housing News, "Novak Brothers Development has broken ground on Rise510, a 301-unit luxury garden-style component of its master-planned Wolf Lakes Village development. The community will be located in Georgetown, Texas, with construction expected to be completed in the summer of 2024.

Rise510 will be built on 12 acres of the 164-acre European-inspired village, and will host a mix of apartment homes and townhouses, according to the developer’s website. The development’s amenities include a fitness center, swimming pool, community park and private, resident-only parking spaces. The greater Wolf Lakes Village hosts landscaped park space, private lakes, an outdoor amphitheater, hiking trails and an ice-skating rink. The community’s…

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"New ultra-luxury neighborhood claws its way into affluent Austin suburb"

According to Culturemap Austin,  "A neighborhood of six multimillion-dollar, high-end homes has emerged in the wealthy Austin suburb of West Lake Hills.

The new 12-acre development, called the Wildcat Club, features six homes on 1- to 4-acre lots with prices starting at $11.75 million. One of the homes (a 9,500-square-foot residence with interiors designed by Fern Santini) already has been sold, and two of the homes are now on the market.

Most of the homes can be customized based on a buyer’s preferences. Amenities include a lounge and wine room, media room, home office, pool, spa, gym, gourmet kitchen, outdoor kitchen, and butler’s pantry. Floor plans range from 5,750 square feet to 9,500 square feet.

Austin-based Foursquare Builders is…

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"It’s the perfect starter home. But it’s only for rent."

"Adam and Tahnya Gaston arrived in this Austin suburb in June with a toddler, a dog and enough money for a down payment. But within days they scrapped their plans for buying a house, deterred by soaring home prices and rising mortgage rates. Instead, they’re paying $4,000 a month to lease a three-story house in a new development aimed squarely at renters.

As the housing market sours, families around the country are eschewing homeownership and turning instead to new homes in rental-only developments such as the one where the Gastons landed. When completed, the Oaks on Chisholm Trail will have 113 stand-alone homes, each with a kitchen island, two-car garage and tiny plot of lawn — all exclusively for rent.

It’s one of…

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"Crane Watch: More condos to rise in S. Austin; More warehouses slated for I-35 corridor"

According to Austin Business Journal, "There’s another industrial development sprouting in the fertile I-35 corridor.

Mississippi-based EastGroup Properties Inc. broke ground Sept. 12 on Stonefield 35, a 275,559-square-foot project in Buda, the company announced Sept. 22. The development comes amid impressive growth, especially for industrial space, in the corridor between Austin and San Antonio.

The development will be built on about 21 acres at the northeast corner of I-35 and Robert S. Light Boulevard. EastGroup is constructing three buildings with varied dimensions.

The largest building will be 148,233 square feet and equipped with 51 dock doors and two ramps, according to marketing material. The building will have 195 parking spaces.

…

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"Phoenix real estate firm on a roll in Austin area, with another home rental community planned"

According to the Austin Business Journal, "A Phoenix-based builder of rental homes is increasing its investment in the Austin area to $164 million with its latest land purchase.

NexMetro Communities LLC announced Sept. 16 the purchase of 25 acres in Liberty Hill, where the company will construct a neighborhood of 260 single-family rental homes called Avilla Rio Oaks. It will join two other NexMetro projects in the works for in the suburbs around Austin; the company already announced another in Liberty Hill and an additional community in Georgetown.

"NexMetro is actively seeking new sites ideal for our luxury leased Avilla Homes neighborhoods in multiple Austin submarkets," stated Jason Flory, managing director of NexMetro's Austin division.…

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In a twist, NY developer approved for $65M purchase of prime South Congress property with redevelopment potential

In a wild twist, one of the nation’s most prolific developers has emerged as the frontrunner to buy out of bankruptcy a six-acre South Congress Avenue site primed for redevelopment.

After the top two bidders for the South Congress site proved either unwilling or unable to timely close on the sales, The Related Companies LP, a New York-based developer with an estimated $60 billion portfolio, negotiated with a Chapter 7 trustee to make a $65 million offer.

Related was approved by a bankruptcy judge Sept. 15 to purchase the site for $65 million, provided it can close on the deal by Sept. 30.

An attorney representing the company, Josh Judd of law firm Andrews Myers PC, told ABJ Sept. 16 that his client is "not anticipating any problems" closing…

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Tens of millions of dollars of new homes rising in small neighborhood

Five local architecture firms will showcase their designs in a high-end residential development coming to West Lake Hills.

Custom homebuilder Foursquare Builders LLC announced Sept. 7 it will build an enclave of six ultra-luxury homes in the tony suburb west of downtown Austin, designed by five renowned firms. The development, called the Wildcat Club, will have home prices starting at $11.75 million. All of the home listings in the development are with Darin Walker of Kuper Sotheby’s International Realty.

"The vision was to develop this parcel where we can bring a very select group of architects to work with us on these six properties, so that we have a community of architecturally significant homes that are held to a standard that’s…

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