News Detail

Austin News Update June 6th, 2022


June 5, 2022

American Ventures acquired a 1.15-acre plot to build The Warehouse at SoCo, a five-story, 161-unit condominium project in South Austin’s South Congress district. (American Ventures)


Downtown Austin Making Strong Recovery Following Pandemic

ABJ – 6/3/2022

A major economic engine for Austin is back on track two years after Covid-19 first swept across the globe. The Downtown Austin Alliance’s annual State of Downtown report that downtown vacancies have stabilized at about 14%, while leasing activity returned to pre-pandemic levels.


Austin Retail Rents Rise, Leasing Activity Thrives

Connect Media – 5/26/2022

Austin leasing activity encompassing new leases and renewals went up from this time last year to 954,000 from 884,000 square feet. Net absorption is up 9% and vacancy rates are down 90 basis points to 3.5% from year to year. The Austin metro NNN average asking rent is at an all-time high of $22.62 per square feet, up 7.2% from last year.


More Condos in Store for Coveted Neighborhood in Austin

CoStar – 6/2/2022

Another plot of land in the South Congress district of Austin, Texas, will be redeveloped into a condominium tower after a local real estate company acquired the dirt for development.

Austin-based American Ventures acquired a 1.15-acre plot at 4302 South Congress in late April and plans to build a five-story, 161-unit luxury condo project on the site. The land, which is vacant, was acquired in an off-market transaction. Plans show the building, known as The Warehouse at SoCo, is planned to span 137,950 square feet. Construction on the residential development is expected to start in early 2024.


Endeavor Plans 9-Story Building On South Lamar Blvd.

ABJ  – 6/3/2022

Endeavor Real Estate Group aims to build a nine-story mixed-use tower along South Lamar Boulevard just south of Lady Bird Lake. The Austin-based commercial real estate firm currently has 517 S. Lamar Blvd. — just south of a McDonald’s and Peter Pan Mini-Golf — under contract and is seeking a change in zoning and local environmental regulations to build the planned tower with 400 proposed residential units, 10,000 square feet of ground-floor commercial space and underground parking at the 1.87 acre site.



Valex Corp. has agreed to lease the entirety of 120 E. Old Settlers Blvd. in Round Rock, Texas, as part of an economic development agreement with the city. (CoStar)

Georgetown Is Fastest-Growing City With Population Over 50K

Community Impact – 5/31/2022

Georgetown is the fastest-growing city in the U.S. for cities with a population above 50,000, according to data released May 26 by the U.S. Census Bureau.  Census data shows Georgetown’s growth rate was 10.5% from July 2020 through July 2021, resulting in a population estimate of 75,420.  This is the second time in the past seven years that Georgetown has been ranked the fastest-growing city in the U.S. according to the city.


The Austin Housing Market Won’t Quit, It Keeps Setting Records. Here’s Why.

Austin American Statesman – 5/23/2022

The Austin area’s housing market is a story that just won’t quit.  There are starting to be signs that things could slow down a bit — rising mortgage interest rates and home prices reaching a point where many buyers are being priced out of the market — but housing analysts say even a slightly cooler Austin market is still pretty darn hot.  Click below to read more.


Charming Texas Gulf Coast Community Named One Of The Most Affordable Beach Towns In U.S.

Austin Culture Map – 6/3/2022

Rockport, Texas, a coastal community a little over a three-hour drive from Austin, lands at No. 7 on’s new list of most affordable beach towns in the country. The charming Gulf Coast town’s average home list price is $435,112.


Austin Startup Hatches Self-Driving Robots For Local Chick-Fil-A Delivery

Austin Culture Map – 6/3/2022

Austin-based Refraction AI, a startup that specializes in automated delivery technology, is rolling out self-driving robots to deliver orders from two Chick-fil-A restaurants in Austin (600 Congress Ave. and 503 W. Martin Luther King Jr. Blvd.).


5 Austin Startups Named Finalists For Austin FC Dream Starter Pitch Competition

ABJ – 6/3/2022

Five Austin startups are gearing up for a big pitch competition next week.  The small businesses were selected for the final round of the 2022 Austin FC Dream Starter Competition, which will award $100,000 in funding to the winning startup with the winner to  be announced at halftime of the June 25 Austin FC match versus FC Dallas.


Wine-Tasting Room Neighborhood Vintner Opening June 3 In Westlake

Community Impact – 6/2/2022

Neighborhood Vintner, a new wine-tasting room experience, is officially opening June 3 in Westlake at 3663 Bee Caves Road, Ste. 4D, West Lake Hills. The retail wine shop and tasting room will offer over 1,000 wines by the bottle for purchase and a curated selection of wines available by the glass at the on-site bar.


Funding Wrap: Redbud Brands Scores $46M To Back CPG Startups; Austin Company Joins Y Combinator

ABJ – 6/1/2022

• KERV Interactive has made a name for itself by turning video files into interactive consumer shopping experiences using AI and other emerging tech. Now it has $12 million in new growth capital to expand and advance its capabilities.
• Austin startup HeatGenie Inc., now going by HeatGen, reported in a May 25 securities filing raising $8.7 million in equity funding.
• Austin- and Los Angeles-based Redbud Brands LLC has raised $46 million in new funding to create, fund and scale consumer packaged goods startups.
Click below to read more.


Samsung Supplier Strikes Incentives Deal for New Division in Central Texas

CoStar – 6/1/2022

A Southern California manufacturer of semiconductor components and known supplier of Samsung Electronics has entered into an economic development agreement with Round Rock, Texas.

Valex Corp. and Round Rock officially committed to an agreement for the manufacturer to make $12 million in capital investments at the Crystal Park business park at 120 E. Old Settlers Blvd.  The investment will be divvied up with $5 million going into property improvements and $7 million for new equipment.  Valex will lease and occupy the nearly 60,000-square-foot facility for a minimum of seven years and bring 75 new jobs to Round Rock.


Stratus Completes $260M Sale Of Downtown Block Home To W Austin Hotel

ABJ – 6/2/2022

Nashville-based Ryman Hospitality Properties Inc. has officially staked its claim in Texas.  On May 31, Ryman Hospitality (NYSE: RHP) closed on the acquisition of Austin’s Block 21 from Stratus Properties Inc.  In addition to the 251-room W Austin Hotel, the W Austin Residences and 2,750-seat Moody Theater, where the “Austin City Limits” show is taped, Block 21 is also has 40,000 square feet of office space and 18,000 square feet of retail space.



Anthology Senior Living Plans 130-Unit Community in North Austin

REBusiness  – 6/1/2022

Anthology Senior Living has announced plans to develop a 130-unit seniors housing community in North Austin. Anthology of The Arboretum will span 131,000 square feet and offer assisted living and memory care options. Units will be available in studio, one- and two-bedroom formats. Cadence McShane is the general contractor for the project, which is scheduled for completion in spring 2023.



Southern California Company Buys Its First Apartment Complex in Austin, Texas

CoStar  – 6/2/2022

A Los Angeles-based investment firm has acquired an Austin, Texas, apartment building with a coveted street address, its first-ever multifamily acquisition in the Texas capital.

Vista Investment Group purchased the 122-unit SoCo Apartments located on South Congress Avenue. Vista Investment Group entered the Austin market in December 2021, when it acquired Park Central, a 114,000-square-foot office building. The company expects to make even more investments in the Austin market.


May Apartment Rents Posted Largest Increase For 2022  – 6/3/2022

Apartment rents are growing more slowly than they did in 2021, but at a pace faster than the years immediately preceding the pandemic, according to the latest national rent report by Apartment List.

Year-over-year rent growth currently stands at a “staggering” 15.3 percent, according to the report, but is down from the 17.8 percent peak it showed at the start of the year.  In May, rents rose 1.2 percent—the largest monthly increase of the year—and through May they are up 3.9 percent.


City Asks Public To Vote On Options For East Austin Affordable Housing Development

Community Impact – 6/1/2022

Members of the public may now give their input on proposals for an affordable housing development in East Austin, the city of Austin and the Austin Housing Finance Corp. The 3-acre property at 3515 Manor Road, owned by the Austin Housing Finance Corporation and the city of Austin, is set to be transformed into a multifamily rental housing development for low-income families, with permanent supportive housing for homeless individuals. With three different proposals on the table, residents can vote or give comments until June 19.



Alliant Credit Union Provides $10.6 Million Acquisition Loan For Industrial Flex Property In Austin

REJournals – 5/23/2022

Alliant Credit Union provided a $10.6 million loan for the acquisition of a 77,985-square-foot industrial flex property comprising four single-story buildings offering a mix of office and warehouse space in Austin. The property is over 90% occupied by 17 tenants.  Constructed in 1986, the well-maintained Springwoods Business Center is located about 13 miles north of downtown Austin, in a growing suburb with access to main thoroughfares and freeways.


Leander City Council Approve Project Amendments To New $22M Multisport Complex Development

Community Impact – 6/3/2022

Leander City Council approved adding multifamily housing to a multisport complex development that was originally approved only for commercial use. Council also approved additional parking space being added to the project development.  The project will now be a mixed-use development that will feature a dome primarily used as a tennis venue and multifamily housing with a maximum of 20 units. Valued at $22 million, the multisport complex will include retail, office, entertainment, restaurant and residential space. Construction on the project site will be done in two phases.


1300 E. Anderson Ln., Bldg C, Austin, TX 78752
• Whole building has been painted
• Completely gutted, new windows, restrooms, common area, storefront lobby
• Great visibility / frontage on Anderson Lane (Research Blvd/183)
• 62,784 SF building built in 1981, renovated 2022
• Ample parking lot will be resurfaced and resealed
• Zoned LI-NP

Click here for the marketing flyer.
For more info, contact:
Randall Beaman
512-461-0851 Mbl
Did You Know?

  • Austin is the Hottest U.S. Job Market based on unemployment, labor force participation, job growth, labor force growth, and wage growth.
  • Austin is the No. 4 metro for tech’s economic impact as a percentage of the local economy (24.7%).
  • 90.4% of Austin MSA residents 25 years or older obtained a high school (or higher) degree and 71.1% attended at least some college.
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