News Detail

Austin News Update January 23rd, 2022

January 23, 2022

Stratus Properties Inc. plans to build a 317-unit apartment building
at 7113 Burnet Road.  (Courtesy Stratus Properties Inc.)

Austin Named The No. 1 Housing Market For Millennials In 2022

Austin Culture Map  – 1/20/2022

A new report ranks Austin as the best home market for millennials and the second-best home market for Gen Xers. Homebuying platform Knock collected data for the 100 largest metro areas and  Austin was one of only two metros to appear in the top 10 in any of Knock’s three categories: millennials, Gen Xers, and baby boomers.


Austin Second-Best Metro For STEM Professionals

Recon  – 1/19/2022

Austin-Round Rock is second on WalletHub’s list of the best metro areas for STEM (science, technology, engineering, and math) professionals. The Texas Capital ranks fourth in professional opportunities, 12th in quality of life, and 27th in STEM-friendliness.  Austin is also third in highest quality of engineering universities and fifth in highest percentage of workforce in STEM.


Stratus Properties To Put 300-Plus Apartments On North Burnet

ABJ – 1/20/2022

An Austin-based real estate development company has plans to build a 270,000-square-foot, 317-unit apartment complex on the city’s north side.

Stratus Properties Inc.  filed paperwork with the Texas Department of Licensing and Regulation to build the community at 7113 Burnet Road. The residential development, to be known as Saint George, would be a few miles south of Q2 Stadium, The Domain and Uptown ATX.  William “Beau” Armstrong III, CEO of Stratus, confirmed construction would start May 1. Armstrong added the project’s estimated delivery date is March 2024.


Capital Metro Breaks Ground On Metrorail Broadmoor Station At Uptown ATX Development In North Austin

Community Impact – 1/18/2022

Capital Metro joined Brandywine Realty Trust, local officials and other community partners Jan. 18 for a groundbreaking ceremony for the MetroRail Broadmoor Station, which will be located at the future 66-acre Uptown ATX development in North Austin.

The Red Line station located at 11501 Burnet Road, Austin, will provide access to the employers, retailers and entertainment venues located in and around The Domain and Uptown ATX developments. Construction on the Broadmoor Station is expected to last throughout 2022 and 2023, with the station slated to open in early 2024, according to Capital Metro.


Rendering of exterior entrance of Friday Mountain, a mini-resort concept from
the family behind Terry Black’s Barbecue. The property will also include vineyards, a hotel,
a restaurant and event space. Courtesy Rogers-O’Brien Construction (See story below.)

Austin Metro’s Home Price Surged 30 Percent In Record-Breaking 2021, Report Says

Austin Culture Map  – 1/19/2022

The median price of a home in the Austin area set a record high last year, inching closer to the $500,000 mark. The Austin Board of Realtors reported that the median price of a home in the Austin-Round Rock metro area hit $450,000 in 2021, climbing 30.8% above the median price in 2020. Meanwhile, the region shattered another record in 2021, with 41,316 homes sold, up 2.5% from the previous year, marking the most homes ever sold in the region.


3 Austin Restaurants Highlighted Among Best In US

ABJ   – 1/21/2022

A trio of Austin restaurants have made it on two national top 100 lists this week. Bird Bird Biscuit ranked No. 5 on Yelp’s Top 100 U.S. restaurants 2022.  Austin and El Paso were the only two Texas cities with a presence on Yelp’s list.  Meanwhile, OpenTable’s unranked Top 100 Restaurants in America list featured Red Ash Italia and Uchiko.


Put The Pedal To The Metal: Texas Fifth-Best State For Driving

Recon    – 1/18/2022

Texas is the fifth-best state to drive in, says a WalletHub study.  The Lone Star State ranks first in cost of ownership and maintenance, fourth in access to vehicles and maintenance, and 14th in safety. Texas is also second in lowest average gas prices.


After Raising $100M, Convenience Store Chain Expanding To Austin

ABJ  – 1/17/2022

With the injection of $100 million in series C funding into Foxtrot Ventures Inc., the Chicago-based convenience store and food delivery company has decided to expand into several cities, with plans to open two Austin stores this summer. Beyond the first two Austin locations at 1804 S. 1st St. and 2270 Guadalupe St., several more stores are in the pipeline in the next 12 to 18 months.


Texas First In HERS-Rated Homes In 2021

Recon – 1/21/2022

Last year, 70,314 homes in Texas received a Home Energy Rating System (HERS) Index Score, more than any other state. Last year, there were 313,153 homes HERS rated in the country, pushing the to-date total to over 3.3 million.


Austin’s Hopdoddy Buying Texas Burger Chain Grub Burger Bar, Forming New Company

Austin American Statesman   – 1/21/2022

Austin’s fast-growing  Hopdoddy Burger Bar is acquiring Grub Burger Bar, a popular Texas chain based in Bryan.  The two restaurant groups will create a new company called HiBar Hospitality Group that will be backed by private equity firm L Catterton, an investor in Hopdoddy.  Hopdoddy said it plans to open eight to 12 new locations per year.


American Airlines Adds Nonstop Flights To Jamaica, Cozumel From Austin Airport

ABJ  – 1/21/2022

American Airlines Group Inc. is adding two international flights to its lineup at the Austin-Bergstrom Int’l  Airport.  Beginning June 11, American will offer nonstop flights on Saturdays to Montego Bay, Jamaica, and Cozumel, Mexico.


M&A Wrap: Cart.Com Buys Multiple Companies; Literati, Epicor, Filetrail Also Spending

ABJ – 1/19/2022

‣  Austin book subscription startup Literati Inc. is adding to its book fair vertical by acquiring Follett Book Fairs.
‣  Epicor Software Corp., which builds software for the manufacturing, retail and automotive industries,  purchased Toronto-based JMO Business System.
‣ Inc., an e-commerce software company that recently shifted its headquarters to Austin,  bought Portland-area company SellerActive and Dallas-based fulfillment and logistics company FB Flurry.
‣  FileTrail Inc., an Austin-based software company that specializes in information governance and records management for law firms and other highly regulated industries, will buy Teravine Inc. in Overland Park, Kansas.


Terry Black’s Barbecue Family Starting Work On Mini-Resort Near Driftwood

ABJ – 1/21/2022

The family behind Austin barbecue joint Terry Black’s Barbecue is getting ready to ramp up work on its newest venture: a vineyard-centered mini-resort near Driftwood.

Dubbed “Friday Mountain,” the 64-acre plot at 150 Concord Circle in Hays County will include a winery and production facility, a 22-room boutique hotel, event space, spa, a high-end restaurant and all-day cafe, among other amenities.  Co-owner Mark Black estimated that it will take about 10 months to complete construction.


Austin Jobless Rate Back Below 3% For First Time Since Pandemic Struck

Austin American Statesman  – 1/21/2022

The unemployment rate in the Austin area has slipped below 3% for the first time since the coronavirus pandemic began, coming in at 2.9% in December as the surging local economy continued to buck the damper of the fast-spreading omicron variant of the virus. On the whole, however, economists called the sub-3% jobless rate the latest indication that the Austin area is booming and that local employers in many industries are hiring new workers as fast as they can find them.


Austin Could Play Major Part In Surge Of Domestic Production For EV Batteries, Experts Say

ABJ – 1/18/2022

As demand for electric vehicles surges across the globe, companies are racing to secure a spot in the growing sector. Batteries are among the most critical components in EV production.

Analysts expect domestic battery production to quadruple by 2025, according to AlixPartners data, and site selectors and economic development experts suggest Central Texas stands to be a landing spot for such projects. Several experts said Tesla Inc.’s growing presence in the region, plus the area’s research capabilities,  are some of the reasons the metro stands to be a hotbed for the EV battery sector.


$500 Million Southeast Austin Project Calls For 4,000 Homes, Condos And Apartments

Austin American Statesman  – 1/21/2022

A $500 million development that calls for more than 2,500 houses, 1,500 multifamily units and commercial space is in the works for fast-growing Southeast Austin.  The developer is Houston-based Hines, an international real estate firm.

The project — which is being called Mirador —is bounded in part by Pearce and Wolf lanes, south of Texas 71 and near the Texas 130 tollroad. Construction on the first homes at Mirador is expected to begin late this year or early next year, with home sales due to start in 2023.


Markel Corp. Secures New Office Space in Austin

CoStar  – 1/20/2022

Markel Corp. has signed a lease for a new office in Austin, Texas.  The diverse financial holding company out of Virginia agreed to take 15,152 square feet at 9500 Arboretum Blvd.  The deal brings the  six-story, 182,311-square-foot building to more than 96% leased, according to CoStar information.

8,700-Acre XS Ranch, Where Huge Subdivision Was Once Pitched, Bought By Land Broker

ABJ   – 1/18/2022

The 8,700-acre XS Ranch property in Bastrop, from which the city of Bastrop purchases a portion of its water supply and where a massive subdivision has long been envisioned, got a new owner last year.

Capital Land Investments 3 LP purchased more than 10,000 acres that includes the XS Ranch near FM 969 and FM 1209 in Bastrop County. But what the future holds for the property, which sat idle over the last half-decade with its prior owner mired in bankruptcy proceedings, remains to be seen.


Vista Cos. Sells 115,000 SF Office Building in North Austin

REBusiness   – 1/21/2022

An ownership group led by an affiliate of Houston-based investment and management firm Vista Cos. has sold Vista Park Central, a 115,000-square-foot office building located on Parmer Lane on the north side of Austin. The property was 93 percent leased at the time of sale.


North Austin Office Building Changes Hands For Nearly $11M

ABJ  – 1/21/2022

Another Austin office building has changed hands, this one in the northern part of town near U.S. Highway 183 and I-35. Baltimore-based Sentinel Net Lease acquired 1200 E. Anderson Lane on Dec. 27 for $10.6 million — and plans to invest in substantial upgrades. It bought the property through Sentinel Austin I LLC from 1200 Anderson Partners LP.


6 Developments To Follow In 2022 In The Lake Travis-Westlake Area

Community Impact  – 1/16/2022

✦ The Reserve at Lake Austin, a 109,843-square-foot senior living community under construction, is scheduled to open in spring 2022 at 6401 RM 2222n.
✦ Construction will continue throughout 2022 on the 80-acre Village at Spanish Oaks development that began in November 2020.
✦ The initial phase of the Covert car dealership on Hwy. 71 will be complete in 2022.
✦ Construction on the multiuse development The Backyard is scheduled to begin in the first quarter of 2022 and is scheduled for completion in 2024.
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Another Austin Apartment Complex Sells As Rental Market Stays Hot

Austin American Statesman  – 1/20/2022

The Barvin Group,, a Houston-based real estate company, has purchased  Aura on Lamar, a 279-unit, five-story apartment complex at 5629 N. Lamar Blvd. in North Austin, adding to a recent string of apartment complex sales in the Austin market.  Barvin executives said Austin is a booming metro area and an established tech hub with continued growth potential.

Barvin currently owns about 4,700 apartment units across Texas and Georgia. It operates in Houston, Dallas/Fort Worth, San Antonio, Austin and Atlanta.


Excellent Convenience Store Location
Bee Creek Rd & Siesta Shores Dr.
2215 Bee Creek Rd., Spicewood, TX 78669

  • 5.43 acre tract located on Bee Creek Road at Siesta Shores.
  • Near Future Vizcaya Neighborhood planned at Bee Creek Road and Thurman Bend Road.
  • Large planned development across the street so best use is most likely retail which would include a convenience store and additional retail.
  • Owners have architectural drawings for two 10,000 sf office/warehouse buildings.
  • Well drilled but no pump; PEC available but not ordered. Three phase power available; Septic design done but not permitted.
  • Zoning: None (in Travis County).

Click here for the marketing flyer.

For more info, contact:
Helen Jobes
512-422-9214 Mbl

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