Cedar Park May Get More Senior Housing
ABJ – 1/26/2022
Austin-based Periscope Capital Investments LLC is working to build a dense senior housing community in Cedar Park, hoping to add housing options for a rapidly growing aging population in Central Texas. The Cedar Park Planning and Zoning Commission gave the OK this month to rezone approximately seven acres for mixed use.
The proposed development, Hayden Grove of Cedar Park, would be located at 400 W. Park St. Developers propose a multi-story building, as high as 50 feet tall, with 28,700 square feet of retail space. There will be up to 178 housing units, a mix of memory care, independent and assisted-living units.
Texas Hits Record Job Level In December
Recon – 1/24/2022
Texas added 50,000 nonfarm jobs in December, according to the Texas Workforce Commission. The state has added 694,400 jobs since December 2020.
With the jobs added last month, Texas hit a record-high employment level at nearly 13.06 million jobs, surpassing February 2020’s pre-pandemic record. The state’s job market increased 0.4% over the month, surpassing the Texas Real Estate Research Center’s forecasted growth rate of 0.2%. Texas’ labor market is recovering faster than the nation’s job market, which grew 0.1% over the month.
Taylor Has Annexed 1,200-Plus Acres For Samsung Site
ABJ – 1/24/2022
The massive plot of land in Taylor that is set to become Samsung Electronics Co. Ltd.’s $17 billion chipmaking plant is now officially inside city limits, potentially adding more than $50 million to the city’s general fund over the next three decades.
Taylor City Council unanimously approved the annexation and established the base zoning for the 1,268-acre plot near the former intersection of County Roads 401 and 404. Construction on the facility will start early this year, and Samsung expects to commence operations by the second half of 2024.
Food, Fun, And Fútbol: Entertainment District Coming To Austin
Recon – 1/26/2022
Karlin Real Estate LLC is developing The Pitch, a sports and entertainment complex at 13000 Harris Ridge Blvd. The venue, within the 50-acre Parmer Pond District, will include food and beverage offerings, a 1,200-seat stadium, artificial soccer pitch, and five-acre pond. Opening is set for February.
Texas’ Booming Population Leads Healthcare Systems To Add More Hospitals
CoStar – 1/27/2022
Half a dozen new major hospitals are in the works in Texas, representing hundreds of millions of dollars in real estate investment and development as healthcare providers try to keep up with the state’s growing population.
HCA Healthcare, based in Nashville, Tennessee, is planning to build five hospitals, including two in the Austin area, and one each in Dallas, Houston and San Antonio. Separately, Methodist Health System announced plans this week to build a $200 million hospital in Celina, a suburb about 41 miles north of downtown Dallas.
Venture Buys New Two-Building Office Complex in East Austin
CoStar – 1/27/2022
A new two-building office complex that scored one of the top leases of the third quarter in Austin, Texas, has sold. An affiliate of Walton Street Capital acquired the Eastlake at Tillery campus in East Austin through a new partnership with local firm and the project’s developer, Cypress Real Estate Advisors. Completed last year, the three-story buildings total 176,696 square feet just east of downtown at 3212 E. Cesar Chavez St. and are 77% leased to two tenants.
Huge Austin-Area Ranch Hopes To Rope In New Owner At $36.7 Million
ABJ – 1/28/2022
One of the biggest chunks of undeveloped land in the Austin metro area just went on the market at an asking price of more than $36.7 million.
Pecan Ranch encompasses 1,469 acres in Williamson County, between Florence and Jarrell. Under new ownership, the ranch could turn into anything from a master-planned community to a private retreat. Pecan Ranch holds appeal for real estate developers, in part, because it offers more than 2,500 of frontage on both sides of County Road 232. The ranch sits roughly midway between SH 195 to the west and I-35 to the east.
Council To Decide On Redevelopment Of Historic Austin Opera House For Venue, Housing Project Jan. 27
Community Impact – 1/25/2022
Plans to transform the offices, recording studio and parking lot at 200 Academy Drive into a restored music venue and housing development could get the go-ahead from city officials Jan. 27.
200 Academy is home to the historic Austin Opera House formerly owned by Willie Nelson and credited as a foundational space in Austin’s live music scene by architect Richard Weiss. A proposal from Spearhead Academy and Weiss Architecture would see 17,500 square feet of the decadesold music hall reopened as a live music venue alongside a 150- to 200-unit housing project located one block off South Congress Avenue.
Floridays Development to Build 276-Room Hotel in East Austin
REBusiness – 1/27/2022
Sarasota, Fla.-based Floridays Development will build a 276-room hotel in East Austin. Designed by FK Architecture, the project will include a pool and an 89,123-square-foot parking garage. A tentative construction completion date was not released, but demolition work on the site’s existing structures is underway.