Cultural Tourism’s Role in Austin’s Real Estate Boom
Explore how Austin's vibrant arts scene fuels real estate demand, driving property values up and reshaping neighborhoods for buyers and investors.
Austin Blog
938K-sf shopping center swaps hands
AUSTIN – Big V Property Group has acquired Southpark Meadows I & II, a
938,103-sf shopping center at 9600 S. I-35.
The center was 95 percent leased at the time of sale.
Tenants include Target, HomeGoods, Marshalls, Ross, Hobby Lobby, Burlington,
Dave and Busters, Pluckers, Five Below, and Rooms to Go.
JLL Capital Markets brokered the deal.
Kyle lucks out with 47k-sf Project Shamrock
KYLE – Builders FirstSource Inc. is developing Project Shamrock, a
47,000-sf office and warehouse project.
The $16 million development will be on 14 acres along I-35.
Construction begins early next year and will wrap in July 2023.
43-story residential tower underway in Rainey
AUSTIN – High Street Residential, MSD Partners, and River Street Partners
have broken ground on 700 River, a 43-story, 377-unit residential tower.
The 400,000-sf building at the intersection of River St. and Rainey St. will
include 3,400 sf of ground-level retail and 30,000 sf of amenity space.
HKS is the architect. DPR Construction is the general contractor.
Completion is slated for the end of 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:[ Connect CRE](https://www.connectcre.com/stories/high-street-
residential-starts-work-on-43-story-austin-high-rise/)
Belvoir picks up Interstate Business Park
SAN MARCOS – Belvoir Real Estate has purchased Interstate Business Park, a
124,032-sf industrial facility at 1942 S. I-35.
The facility has 16-ft clear heights, 11 dock doors, 147-ft truck depths,
and 65 parking spaces.
JLL represented the seller, Live Oak.
Tenants in the fully leased building include Alliance LLC, Premier Triangle
LLC, and CoTechno Group Inc.
Page turns for new Cedar Park public library
CEDAR PARK – Work will begin early next year on a public library in the
Bell District.
The library will have a classroom, teen area, adult quiet space, multipurpose
room, reading room, low-tech maker space, high-tech maker space, and group
study rooms.
Lake Flato Architects is the project developer.
Opening is set for fall 2024.
1,400 homes coming to Community First! Village
AUSTIN – Mobile Loaves & Fishes has started on a 127-acre expansion to its
Community First! Village at 9301 Hog Eye Rd.
The expansion will add 1,400 homes to the master-planned community.
Move-ins will begin in 2025.
Community First! Village currently houses nearly 400 residents, most of whom
were previously homeless.
[](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 Housing Insight](https://www.recenter.tamu.edu/articles/technical-report/Texas-Housing-Insight)_
* [Austin-area housing news](https://txrec.io/2NGNqq4)
* [Home Price Index](https://www.recenter.tamu.edu/data/home-price-index/)
* [Central Texas housing reports](https://www.recenter.tamu.edu/research/housing-reports/#%21/MSA/Austin-Round_Rock)
Source: _[Community Impact
Newspaper](https://communityimpact.com/austin/central-
austin/development/2022/10/26/community-first-village-marks-groundbreaking-
on-1400-home-expansion-for-formerly-homeless-residents/)_
NRP Group begins work on affordable housing project
AUSTIN – The NRP Group has broken ground on The Bridge at Estancia, a
318-unit multifamily complex at 820 Camino Vaquero Pkwy.
The $70 million project will have one- to four-bedroom floor plans. All units
are reserved for residents earning less than 60 percent of the area median
income.
Amenities will include a resort-style pool, community lounge, fitness and
business centers, BBQ pits, and a playground.
The first units will be available in summer 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/affordable-housing-
project-coming-to-sw-austin/)
StreetLights breaks ground on The Maris
AUSTIN – StreetLights Residential has started on The Maris, a 276-unit
multifamily project in the Presidio development.
The Maris will have studios and one- two, and three-bedroom floor plans
ranging from 517 to 1,684 sf.
Amenities will include a pool, fitness center, game room, and coworking
spaces.
The project is the fourth phase of Presidio. The first two phases opened in
[2016 ](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=14511)and
[2019](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=20033). [Phase
three](https://www.recenter.tamu.edu/news/newstalk-texas/?Item=25761) will
open by the end of the year.
SLR is the general contractor.
[](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/streetlights-
residential-breaks-ground-on-276-unit-multifamily-project-in-austin/)
Titan sells 294K-sf Georgetown industrial facility
GEORGETOWN – Titan Development has sold Gateway 35 Commerce Center Building
1, a 294,297-sf industrial facility.
The building has 36-ft clear heights, 185-ft truck court depths, 220 car
parking spaces, and 94 trailer parking spaces.
It was fully leased to CelLink Corp. at the time of sale.
JLL represented the seller.