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August 2022 Central Texas Housing Market Report
NORMAL PRICE GROWTH AND INCREASING INVENTORY CONTRIBUTE TO AUSTIN-ROUND ROCK MSA HOUSING MARKET’S CONTINUED STABILIZATION CENTRAL TEXAS HOUSING REPORT AUSTIN, TX — The Austin-Round Rock MSA housing market continued its normalizing trend for the third consecutive...
Geyser Group planning affordable housing complex
AUSTIN – The Geyser Group is developing a 250-unit apartment complex with 125
affordable-housing units.
The project at 2900 Oak Springs Dr. will have studio and one-, and two-bedroom
units ranging from 450 to 1,100 sf.
Manhard Consulting Ltd. is the civil engineer.
Construction begins in first quarter 2024 and will last 12 to 15 months.
[](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/2022/09/12/east-austin-
could-get-affordable-housing.html)_
SpaceX shooting for the stars in Bastrop County
BASTROP COUNTY – SpaceX is constructing a $43 million, 521,521-sf shell
building.
Completion is slated for July 2023.
University of Texas student housing complex trades hands
AUSTIN – Greysteel has arranged the sale of University Quarters, an 84-unit
student housing complex at 2801 Hemphill Park.
Built in 1978, the property has one-bedroom units averaging 450 sf.
[](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 Online](https://rebusinessonline.com/greysteel-brokers-
sale-of-84-unit-apartment-complex-in-austin/)
Sweet new factory on the way in Lockhart
LOCKHART – West Virginia-based The Ziegenfelder Co. is planning a 42,000-sf
frozen treat manufacturing facility.
The $30 million project will make over 2.5 million Budget Saver Twin Pops a
day and create over 100 jobs.
In April, the company purchased the seven-acre site in the 130 Industrial Park
for $813,000.
A Texas Enterprise Fund grant is pending approval by the Office of the
Governor.
Work begins on Texas’ tallest tower
AUSTIN – Lincoln Property Company and Kairoi Residential have broken
ground on Waterline, a 74-story high rise at 98 Red River St.
At 1,022 ft, the project will be the tallest tower in Texas, beating out
Houston's JPMorgan Chase Tower by 20 ft.
Waterline will have 352 apartment units, 700,000 sf of office space, and the
[251-room 1 Hotel Austin](https://www.recenter.tamu.edu/news/newstalk-
texas/?Item=27604).
Three floors of underground parking will be available for residential and
hotel users, and above-ground parking will be available for office users.
Construction wraps in 2026.
Sterling Equities picks up 306-unit Zoey Apartments
AUSTIN – Sterling Equities has purchased Zoey Apartments, a 306-unit luxury
community in the East Riverside neighborhood.
The project has 38 affordable units, a fitness area, pool, rooftop lounge,
bike storage facility, dog wash area, co-working spaces, and recreation areas.
The seller, Michaels Organization, developed the property for $59.2 million.
Leasing began early last month, and the community was 82 percent occupied at
the time of sale.
Berkadia arranged the transaction.
[](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: [Globe St.](https://www.globest.com/2022/08/31/newly-built-306-unit-
multifamily-trades-in-austin/)
30.6 Hutto acres slated for 276-unit BTR community
HUTTO – Empire Group has purchased 30.6 acres east of SH 130 for Village at
Hutto Station.
The 276-unit build-to-rent project will have one-, two-, and three-bedroom
homes, a pool, fitness center, community clubhouse, outdoor grilling areas,
and private backyards.
Land Advisors brokered the deal.
Construction begins in first quarter 2023.
[](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: [Connect CRE](https://www.connectcre.com/stories/empire-group-to-
construct-hutto-btr-community/)
Siena Round Rock Apartments under new ownership
ROUND ROCK – RightQuest Residential has sold Siena Round Rock Apartments,
a [newly constructed luxury
community](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=25399) at
6531 County Rd 110.
The community has 198 one- and two-bedroom units and was 97 percent leased
at the time of sale.
Cross Architects, Kimley-Horn, Maker Bros. Construction, The Houston Group,
and Asset Living collaborated on the project. CBRE brokered the deal.
[](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: RightQuest Residential