Grossman & Jones Real Estate Blog - new construction

"New 2,200-acre master-planned community with 'downtown village' on the horizon for Lake Travis"

CultureMap Austin reports, "a new master-planned community is set to take shape in the "wild hills" of Lake Travis. Thomas Ranch, announced December 5 by developer Areté Collective, is coming to Spicewood, with construction set to begin in 2023.

The 2,200-acre project will boast ample housing — approximately 3,500 units are planned — as well as a downtown village, expansive hiking and biking trails, and many other luxe amenities. Its website says "Thomas Ranch is a 2,200-acre master-planned community reimagined to appeal to a new kind of lifestyle."

“Areté is working to create a new frontier when it comes to Lake Travis living,” Rebecca Buchan, Areté Collective's CEO and co-founder, says in a release.

“Our vision for Thomas Ranch is that it…

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"Not just 'another luxury golf community': Thomas Ranch could add thousands of homes, urban node west of Austin"

The Austin Business Journal reports, "a massive master-planned community could be coming to the border of Travis and Burnet counties.

Salt Lake City-based Areté Collective LP announced Dec. 4 plans for Thomas Ranch, a 2,200-acre neighborhood that could rise along State Highway 71 near Spicewood. It would feature a dense urban core that developers hope to anchor with a major grocer, plus thousands of housing units across multiple types of residences and price points, a school, health care options, a resort hotel and a golf course designed by the mind behind the newest addition to the world's oldest course — The Castle Course at Scotland’s St. Andrews Links.

“What we are trying to do is build an inclusive, livable community,” Areté Collective…

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"Mortgage Rates Dip Further—So Why Are Home Prices Still So High? The ‘Sticky’ Problem, Explained"

Realtor.com writes, "with Thanksgiving behind us and much Christmas merriment ahead, one might presume that home shoppers have shelved their house hunt until the new year. But no, the housing market is as hopping as ever—and even full of surprises of late.

“Housing data in the week that includes the Thanksgiving holiday show that the housing market continues to evolve, but not always as expected,” explains Realtor.com® Chief Economist Danielle Hale in her weekly analysis.

In our column “How’s the Housing Market This Week?” we’ll break down what’s happening with the latest real estate statistics, and what it means for homebuyers and sellers.

Home price growth ticked up

In November, home prices hovered at a national median of $417,000,…

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"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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"Lennar, Icon reveal location of 3D-printed neighborhood north of Austin"

Austin Business Journal reports, "an Austin-based 3D-printed housing startup and one of the country's largest homebuilders have identified the location of their long-anticipated 100-home community in the region's suburbs.

Icon Technology Inc. and Lennar Home Corp. on Nov. 10 revealed that the startup's first foray into the volume homebuilding game will be the Genesis Collection at the Wolf Ranch master-planned community west of I-35 along U.S. Highway 29 in Georgetown, about 30 miles north of Austin. Construction is underway and reservations will begin next year, with prices expected to start in the mid-$400,000s.

"For the first time in the history of the world, what we’re witnessing here is a fleet of robots building an entire community of…

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"Wildhorse Ranch to expand near Manor"

Austin Business Journal writes, "another undeveloped chunk of land has taken a step toward becoming single-family homes in Northeast Austin.

During the Oct. 25 meeting of the Austin Planning Commission, the preliminary plan for Pinnacle at Wildhorse Ranch gained approval to divide 60 acres into 57 lots within the city’s Gilleland Creek watershed.

The approval represents an expansion to Wildhorse Ranch that has risen on 1,450 acres next to the newly requested expansion.

The development is a product of Austin-based Dwyer Realty Companies, led by longtime developer Pete Dwyer, and the request and the preliminary plan were presented to the commission by Kevin Burks, a civil engineer at the design consulting firm Kimley-Horn.

Dwyer Realty did…

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"Austin's economy among fastest-growing in the U.S., new report finds"

Austin American-Statesman writes, "Austin's boom is far from over, as a new report says the metro area has the second-fastest-growing economy in the country.

Austin's estimated regional gross domestic product — the total value of goods and services produced in one year — increased by 4.3% this year, second only to San Francisco's growth at 4.8%, according to the Kenan Institute of Private Enterprise at the University of North Carolina.

The report is the institute's first as a part of its American Growth Project, which aims to provide "up-to-the-minute" economic data for the microeconomies of towns, cities and counties across the country.

Hoping to help government officials and community leaders understand real-time industry trends, forecasts…

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"No longer ‘frantic’: Number of homes for sale in Austin metro highest in more than a decade"

AUSTIN (KXAN) — "The number of homes for sale in the Austin metro area is the highest in more than a decade.

A total of 9,671 homes were actively listed in September across the five-county area — the highest number since July 2011, according to the September housing report from the Austin Board of Realtors.

The number of active listings is up more than 160% over last September.

Meanwhile, home sales declined in September. Just less than 3,000 homes were sold last month, down 18.5% year-over-year.

“Homebuyers no longer need to move at a frantic pace to find a home,” said ABoR President Cord Shiflet. “There are more homes to choose from and more time to find a home that works for their needs and budget.”

The median home price across the…

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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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