Residential Community in Metro Austin to Transform 30-Acre Land Site
Connect Media – 1/11/2022
A 30-acre parcel in Pflugerville soon will be developed into a new residential community. The site was recently acquired by LIV Development. Located off State Highway 30 and E. Pecan St., the site is a prime development location positioned in this expanding North Austin suburb. “We are extremely excited about The Livano Pflugerville and all of the growth in the surrounding submarket,” said Andrew Murray, LIV’s managing director of development.
Apartment Complex Trades Near $715 Million Northline Development in Leander, Texas
CoStar – 1/14/2022
An apartment building that opened in 2018 near the Northline mixed-use project in Leander, Texas, has traded hands. 22 North, a 240-unit complex located off Route 183 near the Crystal Falls Golf Club at 149 S. Bagdad Road, was developed by California’s K.L. Enterprises. Though the sale price was not disclosed, a public filing shows the buyer, Austin Leander Investments LP, secured $53.55 million in financing through Greystone Servicing Corp. for the acquisition.
New Investors Jump Into Austin Real Estate: Congress Ave. Tower, Suburban Offices Snapped Up
ABJ – 1/13/2022
The full effects of the Covid pandemic on the office market are still playing out, but two recent transactions show institutional investors remain bullish on Austin. Both represented the first Austin deals for the respective buyers.
▶ Regent Properties LLC, based in Dallas and Los Angeles, acquired 816 Congress — a 20-story high-rise building in downtown Austin — for $174 million.
▶ 35 South Capital LLC, a Texas-based real estate asset manager, announced it had purchased West Lake Hills Plaza, a suburban office building at 3811 Bee Cave Road.
N.C. Site Out Of Running For Major Micron Factory, Sources Say, Boosting Central Texas’ Odds
ABJ – 1/14/2022
The Triangle Innovation Point megasite in Chatham County, North Carolina, is no longer in the running to land a massive semiconductor facility, sources familiar with the project told Triangle Business Journal. Austin Business Journal reported earlier this month that Micron was scouting locations in Central Texas for a chip factory, including sites in both Caldwell and Williamson counties.
Austin Leasing/Sales Activity Continues at Fever Pitch
Connect Media – 1/14/2022
☞ A 37,399-square-foot industrial lease was recently arranged for Service Experts, a heating, air conditioning, and plumbing company, at 5811 Bluestein Dr. in Austin.
☞ The cumulative monthly value of industrial sales as of September 30, 2021 in the Austin area was $971.4 million, an increase of more than 200 percent compared to the same time last year at $305.8 million.
Pflugerville Officials Take First Steps Toward FM 685 Mixed-Use Development
Community Impact – 1/11/2022
At its Jan. 11 meeting, Pflugerville City Council voted to allow land owner and developer Fairfield to submit a planned unit development, or PUD, rezoning application for an approximately 12-acre plot of land on FM 685, just south of Gattis School Road. Fairfield is seeking to use the land for a mixed-use development that would contain approximately 350 urban-style multifamily residential units and for-rent townhomes as well as commercial and retail buildings.
Banyan Nabs 34-Acre Parcel For Third SFR Community
Connect Media – 1/13/2022
Banyan Residential recently acquired a 34.4-acre parcel at 2601 Crystal Bend Dr. in Pflugerville to develop its third single-family rental community. Developed in partnership with Bridge Investment Group, the community will comprise 230 single-family rental homes. The team will commence construction in fall 2022.
Dripping Springs City Council Allows 3 More Developments To Continue Despite Moratorium
Community Impact – 1/3/2022
Dripping Springs City Council granted three more waivers for developers to continue their design and building processes during a Jan. 11 meeting. The three approved waivers were for the Overlook at Bunker Ranch and the Hardy T Land South and North residential developments. The Bunker Ranch development sits at 2100 Creek Road and proposes to place 11 single-family homes on 18 acres. The Hardy South plat at 2901 W. Hwy. 290 includes 39 single-family lots with an on-site septic system. Developers propose the Hardy North plat will include 33 single-family homes and seven condominium units.
Redevelopment Of Downtown Austin Building Faces Potential Historic Landmark Roadblock
ABJ – 1/13/2022
A landowner in downtown Austin wants to demolish an old warehouse building that’s currently home to Vince Young Steakhouse for a possible tower project but first has to battle a city commission over an unwanted historical landmark designation because of its utilitarian architecture.
The property at the center of the debate is a brick warehouse originally built in 1912 at 301 San Jacinto Blvd. The Planning Commission ultimately supported the property owner’s request and voted on Jan. 11 to deny staff’s recommendation for the historic landmark zoning change. The case will go to Austin City Council, which will need a three-fourth vote to override the owner’s request.