February 13, 2022

Infineon Technologies Planning Expansion In Austin, Filings Show

ABJ – 2/9/2022

Another semiconductor company plans to expand its operations in Central Texas, according to a site plan filed with the city of Austin.  Germany-based Infineon Technologies AG filed paperwork proposing “the expansion of existing semiconductor FAB-25 with associated improvements.”  Details remain scarce, but the expansion is proposed for 67 acres at 5204 E. Ben White Blvd. in Southeast Austin.

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Housing Manufacturers Expect Rising Costs, Higher Interest Rates To Level Playing Field With Conventional Builders

Recon – 2/8/2022

Manufactured housing production has surged over the past two years and, according to the latest Texas Manufactured Housing Survey, manufacturers expect even faster growth during the first half of 2022. Industry optimism has prompted a flood of capital expenditures and operational expansions.

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Developers Secure Funds for 50-Story Luxury Apartment Tower in Downtown Austin

CoStar – 2/11/2022

A long-awaited high-rise apartment tower planned for a high-profile site in downtown Austin, Texas, has landed construction financing years after the project was initially announced.

Genesis Real Estate Group, based in Richardson, Texas, and New Jersey-based PGIM Real Estate secured an undisclosed loan through JPMorgan Chase for the project. Documents filed with Travis County show the developers secured a $173.4 million construction loan from JPMorgan Chase in December.  The 50-story, 423-unit apartment project at 80 Red River St. is in Austin’s historic Rainey Street District, which once was known for its bungalows but now is full of high-rise residential projects.

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TikTok Leases Office Space At 300 Colorado, Sources Say

ABJ – 2/11/2022

Another social media giant has signed an office lease in downtown Austin, according to sources, further signaling technology companies are still bullish on a return to the office in the near future.

Multiple sources have told Austin Business Journal that TikTok Inc., the video-based social media platform, has leased at 300 Colorado. The lease is believed to be for the top six floors of the 32-story, 353,000-square-foot tower.  Floor plates at 300 Colorado are 21,000 square feet. TikTok eating up the top six floors would mean the social media giant committed to around 126,000 square feet.

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Conti Capital Acquires 300-Unit Pioneer Hill Apartments in Northeast Austin

REBusiness  – 2/7/2022

Dallas-based Conti Capital has acquired Pioneer Hill, a 300-unit apartment community located at 1625 Edgeworth Bend in northeast Austin. The property was built in 2021, according to Apartments.com.  The seller and sales price were not disclosed.

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AMD Clears Hurdles To Complete $35 Billion Deal For Rival Chipmaker

Austin American Statesman   – 2/12/2022

Advanced Micro Devices has cleared all the hurdles it needs to buy rival chipmaker Xilinx, which will be its biggest acquisition in company history. The purchase, originally forecast to close by the end of 2021, is expected to go through on Monday, AMD said.

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Middle Eastern Food Startup Aims To Significantly Boost Production With New Taylor Factory

ABJ  – 2/11/2022

With a new, larger facility on the horizon, Afia LLC could boost production to 500,000 falafels a day, according to its married co-founders, President Farrah Moussallati Sibai and CEO Yassin Sibai. The new 20,000-square-foot factory in Taylor is slated to open in May. Afia employs 16 people, with plans to hire more once the new facility is up and running.

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Driftwood Golf And Ranch Club Attracting Central Texans For Resort-Style Primary Homes

ABJ – 2/7/2022

Work on an 800-acre luxury residential and golf club near a fast-growing city south of Austin is progressing, as developers said they have sold roughly half of the development’s home sites and are gearing up to open the centerpiece 18-hole golf course later this year. The $300 million project is expected to have about 320 homes and private luxury amenities, including the golf course, clubhouses, restaurants, pool and outdoor spaces, including sport courts and a vineyard, at completion.

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‘Scaling Rapidly:’ Three Austin Companies Combine To Raise $67 Million For Expansion

Austin American Statesman   – 2/10/2022

Venture capital continues to flow into Austin, with three companies this week raising a combined $67 million for expansion.
1) The largest investment was for Enboarder, which brought in $32 million. Enboarder will use the new funds to invest in international growth, while doubling its headcount over the next year.
2) Wander, a company that runs a network of short-term rental homes focused on remote workers, has raised $20 million.
3) The third Austin deal is an investment in Expressable, which raised $15 million to expand its virtual speech therapy services.

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Funding Wrap: Ferry, Passage Score Seed Funding; Volcon Sells $20M In Shares

ABJ – 2/7/2022

In the past week, five Austin-area companies reported a combined total of $256 million in funding secured.
‣  Cart.com Inc., an e-commerce software maker, announced Feb. 3 $240 million in additional venture and debt funding.
‣ Austin startup CoinLedger, which has a platform to help cryptocurrency holders with tax reporting, has raised $6 million in new funding.
‣ Austin-based Ferry Automotive Inc., which has created a platform for electric vehicle subscriptions, announced it raised $4 million in seed funding.
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2,200-Home Neighborhood Planned For Hays County

ABJ – 2/8/2022

A massive new subdivision is coming to Hays County, from the nation’s largest volume homebuilder. Continental Homes of Texas LP, a subsidiary of Arlington-based D.R. Horton Inc.), is developing about 1,000 acres southeast of Buda’s Sunfield master-planned community in Niederwald. The community will be called Prairie Lakes and ultimately have about 2,200 lots for single-family-homes, as well as apartments and duplexes. Construction of the first phase is scheduled to kick off this month.

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Shopping Centers Anchored By Costco, Whole Foods, H-E-B Bought For $189M

ABJ  – 2/7/2022

An Illinois-based REIT announced it acquired two Austin-area shopping centers anchored by three major retailers for $189.3 million.  The centers changing hands were the 357,000-sq. ft. The Shops at Arbor Trails, anchored by a Costco Wholesale and Whole Foods, and the 168,000-sq. ft. Escarpment Village, where grocer H-E-B is the lead tenant.

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Austin-based American Canning, a fast-growing craft beverage packaging manufacturer, is expanding with a new plant and a new headquarters.  The company said it has signed a long-term lease to occupy an entire 154,786-sq. ft. facility at Trammell Crow Co.’s Park 183 in Southeast Austin.  American Canning makes canning supplies for craft brewers through an e-commerce platform.

The company will also move its current headquarters at 8219 Burleson Road to Park 183. American Canning currently employs 75 people and plans to double that within the next year, CEO David Racino said.

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1,700-Plus Homes To Spring Up In New Subdivision Called Trinity Ranch

ABJ  – 2/10/2022

Two builders — one longtime area player and a newcomer to Central Texas — are partnering on a new massive subdivision just south of the small city of Elgin with the help of a local developer.

Century Communities Inc. out of Colorado and Plano-based Green Brick Partners Inc., which was named the fastest-growing public homebuilder in 2021 by Fortune Magazine, recently bought about 383 acres in the city’s extraterritorial jurisdiction they plan to turn into a community called Trinity Ranch.  Work is expected to start on Trinity Ranch during the next month.

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Television Shopping Network Starts Design Phase of Future Texas Headquarters

CoStar  – 2/4/2022

Television home shopping network Shop LC is beginning the design phase of what it plans to be a “future-forward campus” as it looks to bring C-suite executives, studio hosts and warehouse employees under one roof.  The Austin, Texas-based shopping network hired Fuse Architecture Studio to design a LEED Platinum-certified building for its national headquarters on a recently acquired 28-acre tract in Cedar Park, a suburb about 20 miles northwest of downtown Austin.

The cable shopping network could become Cedar Park’s largest employer with Shop LC’s plans to create 1,000 new jobs with an average annual salary of $70,000 as part of its headquarters relocation.

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AutoZone to Open 33,000 SF ‘Mega Hub Store’ at Southbridge Plaza in South Austin

REBusiness  – 2/9/2022

AutoZone has signed a lease to open a 33,000-square-foot “mega hub store” at Southbridge Plaza in South Austin. The automotive retailer will operate its store, which will feature an expanded selection of parts and accessories, out of a 46,000-square-foot space that formerly housed an H-E-B grocery store. The remaining 13,000 square feet is leased to Hispanic grocer Casa Grande Supermercado.

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Shuttered South Austin Hotel Gets New Owner

ABJ  – 2/7/2022

A South Austin Wyndham hotel that fell into financial distress during the pandemic and shut down has changed hands. The 210-room Wyndham Garden Austin at 3401 S. I-35 was purchased Jan. 24 by Dreamliner Global Inc., an Arkansas-based firm with operations in Texas and plans to grow in the capital city. It is the company’s first foray into the Austin hospitality market.

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Plans For 19 Acres Of Retail, Residential, Hotel Space On Lady Bird Lake Clear Austin Planning Commission

Community Impact  – 2/8/2022

A proposal that would bring millions of square feet of residential and commercial space to Austin’s South Central Waterfront moved one step closer to breaking ground Feb. 9 after passing through the Austin Planning Commission.  The mixed-use district plan will be reviewed again by city staff and will likely be set to appear before council in the coming months.

Endeavor Real Estate Group’s redevelopment of the Austin American-Statesman property at 305 S. Congress Ave. has been in the works for years. While project plans are not final, the  proposal features 1,300-plus apartments or condominiums, a 275-room hotel, and 1.65 million square feet of retail and office space adjacent to public waterfront parkland.

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