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 – OHT has begun phase-one construction on a 37-acre site that will house two multifamily communities totaling 750 units. The site is at 10801 Wayne Riddell Loop in south Austin.
The first community, Lenox Woods, will comprise 402 one- and two-bedroom units. It will have two resort-style pools, pickleball courts, shared work studio, fitness center, electric vehicle charging stations, and a dog park.
Construction wraps late next year.
Construction begins soon on a second community comprising 348 units. It will open in 2024.
AUSTIN – Austin-based Sabot Development Ltd. and Oklahoma-based American Residential Group Ltd. have broken ground on Lakeline Station Apartments at 13621 and 13701 Lyndhurst St.
The development will have 378 one-, two-, and three-story units and 7,184 sf of retail space.
The location is within walking distance of Lakeline Station, which connects north Austin to downtown.
Greystar Worldwide LLC will manage the property. Cadence McShane Construction Co. LLC is the general contractor.
AUSTIN – Gensler has completed the repositioning of Fifth + Tillery, a 188,000-sf Class A office building at 3100 E 5th St.
The owner is CIM Group, who acquired the former industrial facility in October 2019.
The property has outdoor balconies, a landscaped courtyard, and various outdoor amenities.
AUSTIN – RREAF Communities has acquired 3,173 acres for a master-planned development. The site is at the intersection of SH 130 and SH 80 in Caldwell County.
Plans include thousands of residential homes, retail, restaurants, hotels, offices, healthcare, and light industrial.
RREAF will offer single family lots with build-to-rent, townhome, and apartment properties.
Amenities include hiking trails, event pavilions, athletic fields, and fitness centers.
Fortress Land Investments was the seller.
AUSTIN – In a joint effort, VCP and Vaultcap Partners have acquired Huntington Meadows at 7000 Decker Ln. VCP and VaultCap have now collaborated on three purchases in Texas.
The 200-unit complex comprises one-, two-, three-, and four-bedroom units ranging from 672 to 1,239 sf.
Amenities include a pool, fitness center, basketball court, and playground.
Marcus and Millichap represented the seller.
WASHINGTON – The Federal Reserve has raising its key interest rate by three-quarters of a point—its largest hike in nearly three decades
"The increase is in response to continued high inflation," said Dr. Harold Hunt, research economist with the Texas Real Estate Research Center. "This is intended to help dampen inflation by cooling demand. Guidance from the Fed calls for further rate increases, which is likely to translate into increased mortgage rates through at least the end of this year."
The Associated Press reports that "borrowing costs have already risen sharply across much of the U.S. economy in response to the Fed's moves, with the average 30-year fixed mortgage rate topping 6 percent, its highest level since before the 2008 financial crisis, up from just 3 percent at the start of the year.
"The yield on the two-year Treasury note, a benchmark for corporate borrowing, has jumped to 3.3 percent, its highest level since 2007."
KYLE – A partnership between Alliance Industrial Co., Kyle Economic Development, and the Greater San Marcos Partnership is moving forward with plans for a one million-sf speculative industrial project.
Kyle/35 Logistics Park will comprise five facilities ranging from 140,000 to 475,000 sf.
Features include clear heights at 36 to 40 ft., single-load and cross-dock configurations, and trailer parking.
The project will be finished in first quarter 2023.
AUSTIN – Heartwood Real Estate Group is planning a 72,400-sf affordable housing complex at 1418 Frontier Valley.
The site was originally zoned for mobile homes, but due to the Affordability Unlocked Development Bonus Program, denser multifamily housing is being allowed.
Of the 101 units planned, 51 will be affordable. 1418 Frontier Valley will offer studio and one- and two-bedroom options.
Construction begins Dec. 1 and will last 15 months.
Market Square Architects PLLC is the architect.
AUSTIN – Bishop Momo, a mixed-use project offering multifamily housing and retail space, is coming to Austin's St. Elmo district.
The project will combine 5,840 sf of street-level retail space with 274 studio and one- and two-bedroom units.
Ten percent of units will be allocated for low-income families and individuals.
Bishop Momo will include rooftop panels, rain gardens, and native plant landscaping as part of a green program.