Luxe Austin Homes - new housing

"Hunt Communities bringing 1,500 homes to Belton"

Austin Business Journal reports, "A notable housing developer that's active in the Austin area is bringing 1,500 homes to a city in the northernmost reaches of the metro: Belton.

River Farm, as the neighborhood is known, is being developed by Hunt Communities, according to an announcement. Crews broke ground on the master planned community on Sept. 24.

The El Paso-based developer is building housing communities throughout the state, but in Central Texas, the company is best known for its The Colony neighborhood in Bastrop, a 2,300-acre development that had around 2,000 homes built as of April and another 2,000 on the way.

River Farm is 478 acres. It's located on the southern edge of Belton, just east of I-35, with the Lampasas River on River…

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"2 big apartment complexes pegged for North Austin"

Austin Business Journal reports, "Two big multifamily projects are in the works for North Austin.

Developers have filed plans with the Texas Department of Licensing and Regulation for two projects that would see almost 800 residences and more than one million square feet of new development built over the next two years. They're planned at a time when the city is grappling with elevated vacancy rates in its multifamily market, but there's a hope that by the time they're delivered, the market will be in a healthier place.

Brockton Residential

The first of the two new North Austin projects is called Brockton Residential. From Atlanta-based Portman Holdings, the project is being planned at 2545 Brockton Drive, according to the TDLR filing.

The…

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"Luminary condo tower downtown to begin construction and sales next year"

Austin Business Journal shares, "Downtown Austin’s next condo tower is slated to begin construction and sales in 2025, and the West 14th Street property already is generating plenty of interest.

Luminary, a 400-foot-tall condo tower from Northland Living, a development arm of Canadian hospitality giant Northland Properties Corp., will have 293 condos along with ground-floor retail space and one level of office space.

Kevin Burns, CEO of Austin-based Urbanspace, which is handling marketing and sales for the project, said there's already been more than 400 inquiries for the condos even though sales haven't officially started and prices haven't been set.

"And that’s without spending the advertising dollars," he said. "That’s just simply sending…

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"Dense condo development on tap for Taylor"

Austin Business Journal shares, "Taylor is set to get some new housing — in the form of a dense condo project — as economic growth in the rural city foreshadows a population boom.

Austin-based Metropolitan Development Company LLC is behind the condo project on Taylor’s Second Street, according to an announcement. It also will include some commercial space, said Pawel Hardej, principal at Metropolitan Development.

The project — called The Ferguson — will have eight garden homes, 16 townhomes, 60 condos and five live-work spaces on about 1.5 acres at the intersection of Ferguson and Second streets. The units will range from 575 to 1,534 square feet.

Prices will begin in the mid-$200,000 range.

“On purpose, we did not throw in an expensive…

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"Austin Rent Prices Drop as City Sees Flood of New Apartments"

Newsweek writes, "Austin, Texas, led the nation in dropping rent prices for the month of June, according to a new report from Realtor.com.

The South generally saw a surge in housing units as more builders target the area because of mass migration post-pandemic.

After Austin's year-over-year rent drop of 9.5 percent, San Antonio, Texas, and Nashville, Tennessee, also saw significant rent price decreases of 8.2 percent and 8.1 percent, respectively.

"It's difficult to know just yet if this is simply a trend or a long-term slide, but markets that were white hot during the pandemic like Austin and Nashville are experiencing a deceleration in demand," Alex Beene, a financial literacy instructor at the University of Tennessee at Martin,…

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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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"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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"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 expedites land use reforms for denser housing"

Austin Business Journal reports, "a push by a handful of Austin-based nonprofits to expedite construction of denser, more affordable housing has garnered a response from City Hall.

A coalition of housing-focused organizations issued a call to city leaders on July 7 to expedite code changes to enable developers to build denser and faster than previously allowed. The letter was from the Austin Housing Coalition, Transit Forward, HousingWorks Austin and the Austin Justice Coalition.

About two weeks later, Austin City Council unanimously approved a resolution July 20 that authorizes the city manager to propose code amendments that complement the city’s ongoing piecemeal changes to its land development code. The ultimate goal is to streamline…

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