Details Revealed On First Hotel At $1B EastVillage Community
ABJ – 2/2/2022
A six-story, 150-room 151,780-sq. ft. hotel will rise at EastVillage, a huge mixed-used community under development in North Austin at 3500 E. Parmer Lane, near Samsung’s longstanding Austin factory. New York-based Reger Holdings LLC is moving forward with The Hotel Austin at EastVillage, with groundbreaking planned for the second quarter. The hotel could be delivered by the fourth quarter of 2023. The hotel will include a full-service restaurant and banquet facilities.
Nearly 2,000 Multifamily Housing Units Slated For Construction In North Austin From 2022-25
Community Impact – 1/29/2022
With commercial and business growth continuing close to The Domain, Domain Northside and the Q2 Stadium, several developers are bringing high-density multifamily housing units to the area.
There are at least six multifamily or mixed-use projects with residential components underway in North Austin. Together, these new developments are slated to bring 1,923 housing units to the area by 2025. Construction on these complexes will continue throughout 2022, and some units may open for residents toward the end of the year.
Austin Gains Ground As One Of The Hottest U.S. Metros For Built-To-Rent HomesAustin Culture Map – 2/3/2022
Austin remains a booming market for home sales, with the typical price of a home shooting up by more than 30 percent from December 2020 to December 2021. But for those who feel like they’re priced out of the homebuying market, an alternative is gaining ground — built-to-rent homes.
This trend is so popular in the Austin area that the region ranks 13th in the country for the number of homes in built-to-rent communities. That’s according to a new study from rental platform RentCafe, which puts the number of built-to-rent homes in the greater Austin area at 1,390.
Tesla Files For ‘Project Cathode’ Facility Near Austin-Area EV Factory
ABJ – 2/4/2022
Tesla Inc. is adding another massive industrial facility to its electric vehicle manufacturing campus in eastern Travis County. The Austin-based company has plans for a “Project Cathode,” which news outlets are reporting will be a facility used to produce cathodes — part of a battery’s makeup — for manufacturing its own batteries. This appears to be part of the company’s wider plan to manufacture its batteries in-house as the EV and battery sector is booming.
Texas Instruments Doubles Down on Spending Plans in Race to Develop Property for US Chipmaking
CoStar – 2/4/2022
Texas Instruments is raising its spending budget over the next four years as it ramps up plans for developing real estate to produce more semiconductor chips in the United States at a cheaper cost than most of its competitors and gain more control of its supply chain.
The company plans to spend $3.5 billion per year through 2025, nearly double what it normally spends per year on capital expenditures. Executives are calling this a “long-term capacity roadmap” that will support growth at Texas Instruments, taking the company from two semiconductor plants making 300-millimeter wafers to eight of those.
Packed Apartment Development Pipeline Will Likely Cool Rent Growth In Austin
ABJ – 2/2/2022
In the first month of 2022 alone, Austin Business Journal has reported on thousands of new apartment units under construction or planned in the metro. Despite the intense development activity, rent prices are higher than ever — although rent appreciation could slow significantly in the coming months with all the additional inventory.
There are currently about 13,000 units under construction in Austin, and another nearly 37,000 proposed, according to ApartmentData. And the pipeline has already expanded significantly in 2022.
2 More Developments Greenlit In Dripping Springs Despite Ongoing Moratorium
Community Impact – 2/2/2022
Dripping Springs City Council granted two moratorium waivers to developers of a Hays Street subdivision and developers of a project at 4400 W. Hwy 290. at a Feb. 1 meeting.
◆The development at 4400 W. U.S. 290, consisting of seven commercial buildings, is a 4-acre site located 5 miles west of Dripping Springs in the city’s extraterritorial jurisdiction. Since the property is outside of city limits, city staff determined planning efforts were unlikely to affect land use regulations on the property.
◆ Tejas Homes LLC will develop the Hays Street subdivision, located at 102 S. Bluff St. The property is 1.8 acres and will house six single-family residences.
2 High-Tech Factories — Nearly $3B In Investment — May Land In Little Hutto
ABJ – 2/1/2022
A pair of high-tech manufacturing projects that could create more than 1,600 jobs and nearly $3 billion in capital investment may be on their way to Hutto. While officials from the fast-growing suburb northeast of Austin did not reveal the names of any companies, they indicated during a Jan. 31 special called board meeting of the Hutto Economic Development Corp. that they are negotiating incentives agreement for the two projects. Decisions are expected to be made by the middle of the year.
Austin-Based Startup Casata Bringing Microhomes To San Marcos
Community Impact – 2/1/2022
San Marcos City Council unanimously approved a development agreement with Austin-based startup Casata to build a new microhome development a few miles from downtown. Just over 200 rental homes will be built on 25 acres of land, ranging from 400-1,100 square feet with one to three bedrooms for rent from $1,175-$1,800. The development is expected to break ground this year, though there is no definitive timeline set for completion.