REOC Austin
Commercial Real Estate Since 1975


Kim Gatley
enior Vice President & Director of Research at REOC Austin

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Prelim plans unveiled for Plaza Saltillo in East Austin

PlazaSaltilloPreliminary plans have been unveiled for the Plaza Saltillo – a mixed-use project on a ten-acre site that runs six blocks east of I-35 between East Fourth and Fifth Streets in East Austin.

The land is owned by Capital Metropolitan Transportation Authority, which operates the Capital Metro Red Line—the commuter rail that runs from Leander to Downtown Austin.

The mixed-use project is expected to include residential, office, retail and open space. No public parking is planned.

Construction will start in 2017, and the project likely will take six to seven years to be completed.  …Read Entire Post


Expert: Austin's economy expected to continue on economic roll

In a recent presentation to nearly 700 business people at the Real Estate Council of Austin’s mid-year economic forecast, local housing market expert Eldon Rude reported that Central Texas has seen unprecedented demand in most real estate industry sectors since the recession but the region’s rising home prices could slow population growth in the Austin area, as people and companies choose to remain or locate in cities where home prices are lower.

Central Texas’ strong economic growth has spurred an influx of newcomers seeking opportunity — an estimated 110 a day are moving to Central Texas, according to U.S. Census Bureau counts. And that has spurred “tremendous demand” for houses and apartments. Some 17,700 apartments are now …Read Entire Post

Housing boom bigger in Texas

Texas, known for its open spaces and cheap property, is experiencing the types of real estate bidding frenzies seen in tightly built markets from New York to San Francisco as job gains generate a suburban land rush. Existing-home prices in Dallas and Houston are rising faster than at any time since the oil boom of the 1980s. Homebuilders, caught off guard by the ferocity of buyer demand, are exhausting construction-ready lots as they struggle to recruit workers to complete houses quickly.

The boom shows that the U.S. real estate market’s rebound is extending beyond areas such as Arizona, Florida, California and …Read Entire Post

Austin area home starts soar 32% in Q2

redhouseoutlineCentral Texas home starts continued to surge in the second quarter as builders began construction on 2,650 homes, a 32 percent increase year-over-year.

The increase bumped the annual starts tally to 9,027 homes in the 12 months that ended in June, a 38 percent increase from the previous 12 months, according to Metrostudy, which tracks the numbers.

Click to read entire article: Austin area home starts soar 32 percent in second quarter (Austin American-Statesman, 7-1-13)

Austin housing recovery to rev up in 2013

Central Texas’ housing recovery will gain even more steam this year, with builders projected to start construction on 9,000 to 10,000 homes.  That’s the prediction local housing expert Eldon Rude delivered Tuesday to about 700 industry professionals at the fifth annual housing forecast hosted by the Home Builders Association of Greater Austin and the Austin Board of Realtors.  If Rude’s forecast holds, the starts level would be a 10 percent to 20 percent increase over the 7,981 houses that builders started construction on in 2012.

Click to read entire article: Expert: Local housing recovery to rev up in 2013 (Austin American-Statesman, 1-8-13)

Retail follows rooftops in Pflugerville

A growing housing market has spurred commercial development in Pflugerville.  Several new businesses are expected to open in the next year, including CVS Pharmacy, Kirkland’s, Chili’s and Hallmark. 

The Pflugerville Community Development Corporation and Pflugerville Chamber of Commerce anticipate dynamic growth.  New home permits in Pflugerville are up 21% and the city will reportedly have 650 new homes by December thanks to new communities like Falcon Pointe.

Click to read entire article: Travis County Community News: Pflugerville’s growth bringing new businesses (Austin American-Statesman, 11-25-12)

Wave of apartment development on the way

Austin’s sizzling apartment market is prompting developers to race to the starting gate with new projects. The development plans come as apartment rents have hit record highs and the occupancy rate has jumped to 96 percent.

Click to read entire article and review highlighted projects Wave of apartment development on the way (Austin Business Journal, 8-16-11)