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enior Vice President & Director of Research at REOC Austin

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Travis County negotiates with developers

County commissioners unanimously voted Tuesday for staff to begin negotiating with one of five unidentified real estate development firms to sell the 300 block of Guadalupe Street just south of Republic Square Park in the heart of downtown Austin.

The property is currently home to a parking lot and, occasionally, a food trailer. But it was also the site where Travis County officials had hoped to build a new court facility to alleviate overcrowding. Voters in 2015 defeated a $287 million bond referendum to fund the construction of such a courthouse. …Read Entire Post

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As Austin economy cools, fewer apartments in pipeline

AustinCityLimitSignThough Austin’s economic growth continues to slow, the foundations of the regional economy remain strong, according to the Federal Reserve Bank of Dallas. But the report also noted a sharp decline in the number of apartment permits issued in 2016 compared to a year earlier.

“Despite the low vacancy, permits for multifamily construction slowed notably in the second half of last year, and 2016 permits were down 18 percent compared with 2015,” reads the report. …Read Entire Post

New development bound for Lakeway’s Bee Creek Road

Lakeway City Council approved Nov. 21 the final plat for The Paddocks at Bee Creek, a commercial development including three office or retail buildings totaling 25,000-30,000 square feet, located on 17.56 acres at 4900 Bee Creek Road, Lakeway.

“If all goes well, construction could begin January or February 2017,” said Thomas Reagan, president of Bee Creek Stables L.P., the property’s owner. The project—set for a portion of an original 50-acre tract that includes Lake Travis Middle School—will feature general office space, and Reagan said the development already has signed long-term leases of 10 years each with both an orthodontist and a dentist.

“We do anticipate that other development will occur on the property in the future, but for now, this is what [the owner/developer is] proposing,” Deputy City Manager Chessie Zimmerman said.

Click here to read the full article: New development bound for Lakeway’s Bee Creek Road Community Impact Newspaper 12-7-2016

Developers line up for a chance to remake prime downtown Austin block

Austin Texas DowntownEight companies or partnerships have submitted proposals to transform the downtown block where the county had hoped to build a new courthouse, one of Austin’s most high-profile infill opportunities because the site could conceivably hold the tallest building in town.

The site — just south of Republic Square Park and catty-corner from the W Austin Hotel — is currently a surface parking lot at 300 Guadalupe St. The 77,215-square-foot site is one of the few remaining vacant parcels in the Central Business Districts that’s available for significant development. …Read Entire Post

City moves forward with design for Downtown West development

Georgetown city staff is moving forward with detailed design work for Downtown West, a project that would consolidate city offices into a civic center just west of the Square, after receiving direction from City Council to proceed with a $13 million overall budget at its Aug. 23 workshop session.

The project, which was outlined in the city’s 2003 and 2014 downtown master plans, will repurpose the former library at 808 Martin Luther King Jr. St. to serve as City Hall, and the Georgetown Communications and Technology building at 510 W. Ninth St. would become the municipal court and City Council chambers. A green space would also be added. A future phase would include renovating the Historic Light and Waterworks building at 809 Martin Luther King Jr. St. …Read Entire Post

With Goldman Sachs on board, downtown high-rise set to break ground

austin proper logo

Austin Proper is soon to break ground on former water treatment facility.

The 33-story Austin Proper Hotel & Residences is expected to break ground in the next few weeks after Goldman Sachs & Co. brought its hefty Wall Street weight to the table in support of the project on the site of the former Green Water Treatment Plant.

The Kor Group is close to moving dirt, the Austin American-Statesman reports. The merchant banking division of Goldman Sachs is now a capital partner, according to an Aug. 2 announcement. The Austin Proper Hotel & Residences are planned to rise 32 stories on the site of the former Green Water Treatment Plant. …Read Entire Post

Schwab starting $86 million project in North Austin

schwab logo

Project is set to break ground by the end of the year.

Charles Schwab Corp. is poised to break ground on two buildings totaling roughly $86 million in new construction. Schwab purchased the property in August 2014, including the 187,000-sf Tivoli Building, which it recently spent about $14.5 million renovating. That building now houses between 800 and 900 technology personnel.  …Read Entire Post

East Austin rail station to be transformed into mixed-use project

Rendering of plan for MLK Station

Rendering of plan for MLK Station

A developer wants to make a big splash in Central Texas by building almost 150,000 square feet of office and retail space at a Capital Metro rail stop in East Austin.

Cityline Companies, led by Principal Frank Gordon, develops residential, office and retail space. Gordon, formerly based in Washington, D.C., moved to Austin about two years ago. …Read Entire Post

Lamar Central grows

lamar center

New additions to Lamar Center are now almost full.

The new Lamar Central development is nearly full following a few recent additions. The mixed-use project at 3800 N. Lamar Blvd. is already home to the corporate headquarters for Austin jeweler Kendra Scott, as well as Westlake Dermatology and Snooze, a breakfast-focused restaurant.

Now, Campagna Napoli and Finley’s Barber Shop are joining the tenant mix. Campagna Napoli has signed a five-year lease and will occupy about 1,800 square feet at the development, Highland Resources said. …Read Entire Post

H-E-B planning larger Marble Falls store

Larger HEB planned for Marble Falls.

Larger HEB planned for Marble Falls.

A bigger, better H-E-B store is on its way to Marble Falls. The San Antonio-based grocery chain said Wednesday that it will build a new, larger store adjacent to its existing one at 1503 W. FM 1431.

Once the new store opens, the current one, which spans 82,104 square feet, will close and be torn down. H-E-B has increased its land lease to 11.74 acres – up from 5.35 acres – to make the construction project possible.

The exact square footage of the new store, a list of additional features and a projected opening date won’t be available for about a year, H-E-B said, while the grocer studies its options. …Read Entire Post