I-35 Corridor Site for 300,000 Square Foot Industrial Project
Connect Media – 6/22/2022
Stream Realty and Greystar Partners are kicking off Phase II of the Whisper 35 project in San Marcos. Phase I consisted of two buildings, making up 270,000 sq. ft. of space. The first building, which is completed, made up 180,000 sq. ft. It is now fully leased. The second building, 90,000 sq. ft. will be delivered by year end, 2022.
Phase II contains three buildings making up over 300,000 sq. ft. of industrial space. Located in Hays County, Whisper 35 is expected to be ready for occupancy in the third quarter of 2023.
Apartments Planned At Former Threadgill’s Site On Austin’s North Lamar Boulevard
Austin American Statesman – 6/23/2022
A developer plans to build 100 apartment units behind the former Threadgill’s restaurant, a treasured staple on Austin’s North Lamar Boulevard for almost nine decades before closing in 2020. Austin-based developer JCI Residential plans to build the apartments behind the existing Threadgill’s property, preserving Threadgill’s original front building said Kurt Goll, JCI president. Construction likely won’t be this year, Goll said, because the developer’s site plan is still working its way through the city review process.
Elon Musk’s SpaceX Plans Construction in Central Texas About 20 Miles Southeast of Tesla’s New Austin Factory
CoStar – 6/22/2022
Another one of billionaire Elon Musk’s companies is scooping up real estate in Central Texas.
SpaceX, founded by Musk, has taken ownership of nearly 47 acres on FM 1209 in Bastrop County, about 20 miles southeast from where Tesla opened its new electric vehicle factory earlier this year. SpaceX has not revealed what it intends to do with the land, but public documents show SpaceX plans to build an industrial building under code name Project Echo which is expected to be completed by March 2023.
Hutto Offering up $118 Million in Tax Breaks For Applied Materials Project
Connect Media – 6/20/2022
Applied Materials said it plans to invest $2 billion into the project that would create over 500 jobs over the next 12 years. The company has a non-binding letter of intent to buy over 400 acres in Hutto.
In exchange, the company is seeking incentives that would include $118 million in tax breaks, $80 million from the town of Hutto and another $38 million in property tax savings from the Hutto Independent School District. If Hutto is selected, construction would begin in early 2023, and wrap up in mid-2026.
California Buyers Nab Apartment Portfolio in Growing Texas Cities for $350 Million
CoStar – 6/23/2022
Two California investors have acquired a five-property apartment portfolio totaling 1,437 units for $350 million in some of Texas’ most sought-after high-growth cities from SWBC Real Estate, a Dallas-based development firm. The buyer of the four apartment properties in Dallas-Fort Worth was Lightbulb Capital Group, and Brixton Capital, based in Solana Beach, California, bought the apartment property in the greater Austin region.
Kalterra Capital Underway on 249-Unit Multifamily Project in San Marcos, Texas
REBusiness – 6/22/2022
Kalterra Capital Partners is underway on construction of The Dylan, a 249-unit apartment community in the Central Texas city of San Marcos.
Units will come in one-, two- and three-bedroom floor plans and will be furnished with granite countertops, stainless steel appliances and private patios/balconies. Residences will range in size from 675 to 1,415 square feet. Amenities will include a pool, fitness center, volleyball court and open green space. Kalterra expects to deliver the property in the second quarter of 2023.
Project Connect Planners Detail Designs For Austin Rail Network’s Future Subway Stations
Community Impact – 6/22/2022
Planning for Austin’s multi-billion dollar investment in an expanded public transit system is continuing, and Project Connect team members shared initial designs for the rail system’s subway stations for the first time June 22.
While Project Connect’s new rail lines will extend across Austin, the transit system will run below ground around downtown only. In that area, travelers will be able to access Orange and Blue line trains from six subway stations. Planners are still deciding on the method through which stations and tunnels could be constructed. Click below for more details.