CAPELLA   AUSTIN  NEWSLETTER

June 26, 2022

Two More High-Rise Towers in the Works for Downtown Austin, Texas

CoStar – 6/24/2022

Another project is in the works in Austin, adding to an already active construction scene downtown. A site plan was filed with the city of Austin for two mixed-use high-rise buildings at the corner of San Jacinto Blvd. and Third St. Details about the proposed project, called Block 32, are minimal and the site plan filing is still in the early stages, but the prospective development is a sign that developers continue to be bullish on the Texas capital.

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Austin Near Top Of The Heap For Equity-Rich Metros

ABJ – 6/15/2022

Rising home prices have made Austin one of the most equity-rich markets in the nation, according to Attom Data Solution.  Of the 107 U.S. metros with populations greater than 500,000, Austin ranked No. 2 for equity-rich properties. Equity will continue to grow through the rest of 2022, Attom predicted, though home price increases should become more moderate.

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With Construction Financing In Hand, Work Starts On Lakeline Station Apartments

ABJ – 6/15//2022

The construction loan from Commerce Bank closed and ground was broken in June for the Lakeline Station Apartments next to a transit hub in North Austin.

The luxury multifamily development is a collaboration between Austin-based Sabot Development Ltd. and Tulsa, Oklahoma-based American Residential Group, Ltd.  Lakeline Station Apartments, located at 13621 Lyndhurst St. and 13701 Lyndhurst St., will offer 378 one-, two- and three-bedroom units in two four-story buildings. The community will also have 7,184 square feet of ground-floor retail space.

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Elon Musk’s The Boring Co. Plans Tunnel Near Tesla’s New Factory in Central Texas

CoStar  – 6/23/2022

Mueller’s First Boutique Hotel Books Into Bustling Austin Neighborhood

Austin Culture Map – 6/24/2022

A long-awaited boutique hotel in the heart of the Mueller neighborhood officially opened its doors on Friday, June 24. Origin Hotel Austin, the first Texas outpost for the lifestyle-focused boutique brand by Mississippi-based Thrash Group, is situated at 1825 McBee St.  It’s onsite restaurant, Blue Lacy, opens on Monday, June 27.

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City Of Austin Home Price Hits Record $667,000 As Number Of Homes For Sale Soars

Austin Culture Map – 6/22/2022

According to the Austin Board of Realtors, the median price in the Austin city limits soared to $667,000 in May 2022,  an 18.1% increase from May 2021.  Home prices in all five counties in the region continued to climb. Travis County recorded a median home price of $659,000, up 21% from a year ago.

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Round Rock City Council Approves Rezoning Request For Meritage Homes Multifamily Project

Community Impact – 6/23/2022

Round Rock officials approved a request to rezone 11.73 acres of land south of Old Settlers Blvd. and Settlers Glenn Dr.  The property owner requested the zoning change from commercial to MF-1 to allow for a low-density multifamily housing project to be built on it. The development will bring approx. 134 new housing units to the area with three to six units in each building.

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Million Air Files To Expand Private Jet Accommodations

ABJ – 6/22/2022

Plans have been filed by Million Air to build a private terminal and additional airplane hangers at Austin-Bergstrom International Airport, which would expand capacity for private air travel and ultimately provide corporate executives greater direct access to the region. The site plan follows the Houston-based company’s decision to invest $40 million at the airport, building seven hangars ranging in size from 15,000 to 20,000 SF on municipal land.

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Apptronik To Use Nearly $15M In Fresh Funding For Hiring, Development Of Its Humanoid Robot

ABJ – 6/23/2022

The startup Apptronik has worked on projects including an “Iron Man”-like suit for NASA to bolster human strength. And a major milestone was disclosed June 23, when the company announced a $14.6 million seed funding round. The new funding will help Apptronik bring its most versatile humanoid bots beyond partnerships and prototypes and into broader applications.

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Funding Wrap: Dealhub.Io Scores $60M; Knit Secures Seed Round

ABJ – 6/20/2022

• Austin sales software startup DealHub.io Ltd. raised a $60 million funding round led by Alpha Wave Ventures.
• Sana Benefits Inc., an Austin company that helps small and medium-sized businesses set up employer-sponsored health insurance coverage, raised $60 million in series B funding to accelerate its expansion into new states.
• Austin startup Knit raised a $3.5 million seed round to fuel its tech buildout, including automated video analysis systems.
Click below to read more.

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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.

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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.

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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.

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Hutto Offering up $118 Million in Tax Breaks For Applied Materials Project

Connect Media – 6/20/2022

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.

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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.

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