Central Health acquires a 116,000-sqft office complex at Cameron Rd, Austin, to house clinics, pharmacies, detox centers, and respite care beds for the homeless.
Smart Austin Realty Group is pleased to share that construction is set to begin on Paseo, a 48-story, 557-unit multifamily tower in the Rainey Street District in Austin. The project, scheduled to begin in the first quarter of 2023, will offer one-, two-, and three-bedroom floor plans, with approximately 20% of units reserved for affordable housing. In addition, there will be ground-floor restaurants and multiple levels of residential amenities. JE Dunn Construction will serve as the general contractor, while Pappageorge Haymes Partners will be the architect. UMB Bank is providing construction financing, and completion is planned for late 2025.
Tesla is making a major expansion to its Austin Gigafactory located at 1 Tesla Rd. The $717 million investment consists of four separate buildings. The largest of these is Cell 1, a 693,093-sf facility. The other buildings are a 423,032-sf Drive Unit, a 321,186-sf Cathode, and a 2,560-sf Cell Test Lab. Construction on all four buildings will begin this month.
Good news for Austin! Apple is investing an additional $100 million into building out its new Austin campus. This is a great sign for the city and its real estate sector, which has been put at risk by big tech employers lately due to the recession and the work-from-home model. Facebook is slimming down in Austin, and there have been reports of coming layoffs at Amazon.com Inc. and Google Inc. Smart Austin Realty Group is here to help you navigate the Austin real estate market and find the perfect home for you and your family. Contact us today to learn more about our services and how we can help you find the perfect home in Austin.
The Fairfield Inn & Suites hotel located at 1250 N. I-35 in San Marcos has been sold. Built in 2015, the 108-unit hotel sits on 2.8 acres and features amenities such as a pool, fitness center, meeting space, and a convenience mart. The seller and buyer were both limited liability companies and Marcus & Millichap represented them. Smart Austin Realty Group is excited to see this hotel change hands and looks forward to seeing what the new owners will bring to the area.
Smart Austin Realty Group is excited to announce that IDI Logistics is developing the Sunrise Commerce Center, a 465,660-square-foot industrial project located at 2380 Oakmont Rd in Round Rock. The project will consist of two phases: phase one will include three buildings totaling 311,000 square feet and phase two will include two buildings totaling 155,000 square feet. Construction is set to begin in September 2022, and Adolfson & Peterson Construction will be the building contractor. In addition, Stream Realty, 5G Studio Collaborative, and Pacheco Koch Civil Engineering are part of the development team. We are thrilled to have this new industrial project in Round Rock and look forward to seeing the progress!
In October 2020, Leander, a suburb of Austin, Texas, announced plans for the Leander Springs project. This public-private partnership includes a 4-acre lagoon, up to 1,600 multifamily units, a hotel, and over 1 million square feet of commercial space. The project...
AUSTIN – DMA Development Co. LLC is developing Arbor Park, a $17 million
senior-housing facility.
The four-story project will have 147 units for adults aged 55+. Some units
will be reserved for tenants making below 80, 50, or 30 percent of the area
median income.
It will have a large community area with a kitchen, ground-floor library,
private courtyard, fitness center, floor lounges, laundry facilities, and high
ceilings.
Opening is slated for late 2023.
[](https://www.recenter.tamu.edu/articles/technical-
report/Texas-Quarterly-Commercial-Report)Looking for more [Austin-area senior
living news? ](https://txrec.io/34h22SX)The Texas Real Estate Research
Center's got you covered.
Source: [Connect CRE](https://www.connectcre.com/stories/affordable-senior-
rental-project-begins-to-take-shape-in-austin/)
GEORGETOWN – Bridge Logistics Properties has purchased 92.5 acres at 5501 S.
I-35 for the development of a seven-building industrial property.
Bridge Business Park will include at least one million sf of industrial
space and 30,000 sf of office space.
The two largest buildings will be 298,080 and 274,320 sf with 36-ft clear
heights.
The next four buildings will range from 77,760 to 174,720 sf. They will have
32-ft clear heights.
Amenities will include walking trails, an outdoor pavilion, and pickleball
courts.
Bridge received approval for an annexation and zoning request for the property
last year.
Construction will begin in fourth quarter 2023. Delivery is slated for fourth
quarter 2025.
AUSTIN – Seattle-based Security Properties Inc. has purchased the
Brightleaf at Lakeline multifamily community from Lakeline ATX LLC.
The Class A project, which delivered in 2022, is near Lakeline Mall at 14115
N. US 183.
The community has 304 one- and two-bedroom apartments averaging 880 sf. It
consists of three mid-rise buildings and five carriage-style buildings on
12.3 acres.
[](https://www.recenter.tamu.edu/articles/technical-
report/Texas-Quarterly-Commercial-Report)The Texas Real Estate Research Center
has more news like this online for free:
* [ _Texas Quarterly Apartment Report_](https://www.recenter.tamu.edu/articles/research-article/TexasQuarterlyApartmentReport-2242)
* [Austin multifamily news](https://txrec.io/2PoQABe)
Source: _[Austin Business
Journal](https://www.bizjournals.com/austin/news/2022/12/28/security-
properties-gains-foothold.html)_