Affordable Apartment Community Approved For East Austin Lauded As ‘New Benchmark’
ABJ – 8/1/2022
Hundreds of affordable housing units are set to rise in East Austin, and public officials are lauding the project as the first of its kind in the city.
Austin Housing Finance Corp. approved the negotiation and execution of necessary agreements for the construction of a mixed-use affordable housing development on three acres of city-owned land at 3515 Manor Road, just south of the Mueller community. Seabrook Square is expected to have 262 units, with the vast majority reserved for households earning at or below 60% of the median family income level, plus community space.
Apple Seeks Possible Expansion of New Austin Corporate Campus
CoStar – 8/1/2022
IPhone maker Apple is seeking to annex land near its new corporate campus in Austin, Texas, in a sign of a possible expansion of the $1 billion real estate development.
The Austin City Council approved an ordinance at the end of July for the annexation of nearly 53 acres at 6204 W. Parmer Lane in northwest Austin. The acreage is slated for the “proposed expansion of the adjacent Apple campus,” according to City Council documents. Neither Apple nor the City Council revealed specific details or a timeline about the planned expansion.
Riverside Resources’ Plan To Transform Part Of Sixth Street Advances Despite Historical Concerns
ABJ – 8/5/2022
The quaint 1100 and 1200 blocks of West Sixth Street are planned to receive a dramatic facelift that could bring the modern aesthetics of South Congress Avenue to the Clarksville neighborhood.
Riverside Resources’ effort to transform that stretch of the street received approval Aug. 3 from Austin’s Historic Landmark Commission, which would require the demolition of significant portions of buildings recognized as having some historical significance. Riverside Resources still needs other city approvals, and the whole matter is likely to land before Austin City Council later this year.
Real Estate Partnership To Develop Retail and Office Space in Growing Central Texas Region
CoStar – 8/3/2022
A 5.6-acre commercial parcel in Central Texas was acquired by a partnership between Long View Equity and Endeavor Real Estate Group to build a mixed-use development. Long View Equity announced this week it plans to develop a 13,000 SF office and 14,000 SF retail project at Sawyer Ranch, which is located along State Highway 290 in Dripping Springs. Dirt will be moved in early 2023. The project could be completed by the end of 2023.
World’s Largest Industrial Gas Supplier Details Proposed Facility Near New Samsung Plant
ABJ – 8/5/2022
The largest industrial gas supplier in the world could save more than $11 million on property taxes if it’s granted incentives for a possible facility in Taylor. U.S. subsidiary of United Kingdom-based Linde PLC is a supplier to Samsung Electronics Co. and has proposed building its own facility next to Samsung’s $17 billion plant in Taylor, northeast of Austin.
Linde proposes investing $271 million in the facility and creating at least 10 jobs, with an average salary of $68,560, according to the incentives application. Construction would start in 2026 and operations would commence by the end of 2027.
Cousins Waiting For Right Time To Build Domain Central I
Connect Media – 7/27/2022
Publicly traded Cousins told investors during a recent presentation that they are looking to build another tower at the Domain in downtown Austin.
A filing with the Texas Department of Licensing and Regulation indicated that they were planning to build 26-story Domain Central 1 in November with work concluding in June 2025. Cousins is looking at constructing the tower at the site of a parking lot at 3008 Esperanza Crossing.
JLL Negotiates Sale of 952-Unit Self-Storage Facility in Austin
REBusiness – 8/5/2022
JLL has negotiated the sale of Woodland Self Storage, a 952-unit facility located south of downtown Austin along I-35. The 92,288-square-foot, climate-controlled facility was built in 2019 and was 70 percent occupied at the time of sale. Utah-based REIT Extra Space Storage purchased the asset for an undisclosed price.
UT Austin Student Housing Project Changes Hands
Connect Media – 8/5/2022
Global Student Accommodation (GSA) has acquired Waterloo Tower, a 796-bed student housing community located near the University of Texas at Austin. The community offers fully furnished units with bed-to-bath parity and private patios overlooking the university’s West Campus area. GSA will turn management of the community over to its operating partner, Yugo, and rebrand the asset as Yugo Austin Waterloo.