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.
AUSTIN – Pearlstone Partners is planning a 48-story residential tower on two vacant tracts at 62 and 64 East Ave.
The development will have 245 condominiums.
Construction begins in 2023 and will wrap up in 2026.
AUSTIN – Cadence McShane is bringing a 378-unit multifamily housing and retail development to 13621 Lyndhurst St.
The development comprises two four-story buildings. The first will have 165 units and 2,000 sf of retail space, the second will have 213 units and 5,000 sf of retail space.
Amenities include two fitness centers, electric vehicle charging stations, and multiple pools.
Retail will include a coffee-beer-wine shop, restaurant, convenience store, and outdoor seating.
Sabot Development, American Residential Group, and STG Design are collaborating with Cadence McShane on the project. Construction wraps in fall 2024.
GEORGETOWN – California-based solar roofing company GAF Energy LLC is developing a 450,000-sf manufacturing, research, and office facility at the corner of I-35 and SE Inner Loop.
The city council unanimously approved the $100 million project July 12. The facility could create at least 265 jobs over five years.
Portman Industrial is handling construction.
Completion is slated for June 2023 with GAF's lease beginning in 2024.
COLLEGE STATION – Sales of luxury homes – those priced at $1 million or more – have risen significantly from pre-pandemic levels in Texas’ four largest metros, with Austin showing particularly strong momentum.
The number of luxury homes sold in Austin in the first five months of 2022 was almost twice the number sold there for all of 2018. Compare that with Houston, Dallas-Fort Worth, and San Antonio, where the number sold during the same period was about on par with the total sold in those cities four years ago.
Housing data show Austin’s luxury market has been gaining momentum over the past few years.
In 2018, the city’s luxury sales were half of those in Houston and DFW. By 2021, though, Austin was only slightly behind Houston. The two cities have been neck and neck this year in terms of luxury home sales, and Joshua Roberson, lead data analyst with the Texas Real Estate Research Center at Texas A&M University, says Austin is poised to surpass Houston.
“What makes this all the more remarkable is that Austin’s population is only about one-sixth the population of Houston and one-seventh that of DFW,” Roberson said.
DFW has led the state in luxury home sales for five years in a row.
“In-state migration, particularly among higher-income households, has propelled luxury home markets,” Roberson said. “And booming DFW and Austin have provided steady growth for the state’s overall luxury market.”
However, while year-to-date sales are on pace to surpass pre-pandemic sales, Roberson says it’s too early to tell if there is enough momentum to exceed 2021 sales.
AUSTIN – PayPal has leased 60,000 sf of office space in the top two floors of Domain Tower 2 at 1025 Alterra Pkwy.
PayPal now represents 20 percent of the building's occupancy.
The 330,000-sf tower is the fifth in developer Stonelake Capital Partners' plan for the south side of The Domain.
AUSTIN – H-E-B LP is adding 27,000 sf to its store at 500 Canyon Ridge Dr.
The $18 million expansion includes a new front façade, curbside pickup station, and in-store True Texas BBQ.
Construction begins in April of next year and will wrap in June 2024.
AUSTIN – Houston-based Disrupt Equity has purchased Cascade, a 198-unit multifamily complex at 1221 Algarita Ave.
Built in 1971, Cascade has one-, two-, and four-bedroom options ranging from 484 to 1,188 sf.
Amenities include multiple pools, recreation centers, onsite laundry facilities, and a fitness center.
Disrupt acquired the property for $30.1 million.
NEW BRAUNFELS – Continental Automotive Systems is nearing completion on a 215,000-sf manufacturing facility.
The $110 million facility, which will be used to make advanced driver assistance systems, will create 130 jobs when operations begin in September.
AUSTIN – Austin Habitat for Humanity has broken ground on its second affordable housing project in Travis County at 6301 Círculo De Amistad.
The .69-acre townhome project will consist of six buildings and 12 units. Construction on the first three buildings begins in 2023.
Homes from the organization's first affordable housing development in the area sold for around $185,000, with the area average being $500,000. The new homes are expected to sell for $200,000.
