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.
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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.
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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.
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$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.
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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.
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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.
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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.
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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.
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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.
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