​​AUSTIN – The Teacher Retirement System of Texas (TRS) has sold its
headquarters building.

The 198,972-sf facility is on 3.8 acres at 1000 Red River St.

TRS will continue occupying the ​building until its [new headquarters opens in
2024.​](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=26535)

Austin Real Estate Acquisitions LLC acquired the property for $108 million.​

​​​​​​​GEORGETOWN – Ascension Seton has broken ground on a 60,000-sf
healthcare facility within Wolf Lakes Village.

The facility will include an outpatient surgery center, women's imaging,
cardiovascular care, gastroenterology, orthopedics, dermatology, and
reconstructive surgery.​​

​​​GEORGETOWN – Novak Brothers Development Group has started on Rise 510, a
301-unit multifamil​y project on 12 acres in the Wolf Lakes Village master-
planned community.

Amenities will include a pool, fitness center, hiking trails, and one-acre
community park.

Construction wraps in summer 2024.

[](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: [REBusiness On​​​line​](https://rebusinessonline.com/novak-brothers-
breaks-ground-on-301-unit-multifamily-project-in-metro-austin/)

​​​AUSTIN – The city has approved plans for Aspen Heights Partners to convert
the former Health South office towers into a 37-story residential and
commercial project.

Of the 921 rental units, 232 wi​ll be designated as affordable. The plan also
calls for 35,000 sf of commercial space and a childcare center.

Civilitude will be the engineer. STG Design will be the architect.

​​BUDA – Buda Midway Phase I, a three-building, 474,465-sf, Class AA
industria​l park, has been sold.

The project is on 35.3 acres at 1795 Fire Cracker Dr. It has two rear-load and
one cross-dock building with 30- to 36-ft clear heights, 138 dock doors, 60
trailer parking spaces, and 678 parking spaces.​

The recently delivered ​buildings are fully preleased to CED Greentech, Sherri
Hill, and Four Hands. ​

JLL represented the seller, a joint venture between United Properties and PCCP
LLC.​

Phase two will include four rear-load buildings totaling nearly 390,000 sf.
Completion of the first building is set for spring 2023.

​​​​​​AUSTIN – The Related Cos. LP has purchased six acres at 500 S. Congress
​Ave. for $65 million.

The site has apartments, two commercial buildings, and over 70,000 sf of
office space.

World Class Holdings was the seller.

​​​​​AUSTIN – Park7 Group is developing a 30-story​ tower at 2200 San Antonio
St.​ near the University of Texas.

The 246,000-sf building will ​have 216 multifamily units.

Rhodes Partners is the design firm.

Construction begins in early 2024 and wraps in May 2025.

[](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/2022/09/29/crane-
watch-i35-industrial-south-austin-congress.html)_