September 2009, Austin Real Estate Buzz…

Yes, the economy has slowed down the activity in the Greater Austin area but there’s still lots of news.  There are new subdivisions planned, industrial buildings in Round Rock being auctioned, plans for a new water park in Pflugerville, Sprouts Farmers Market moving into Round Rock, Eco Hotel in downtown Austin, a report that downtown Austin condo living is great, a Green federal courthouse has broken ground, 4 Austin area Post Offices are off  the chopping block, the Northcross Super Walmart is still in the works and the Multifamily market in the area is holding steady.  Check up on the area news here!

Avalon’s Hill Country Housing

(Housing : Austin-Round Rock) 9/11/2009

AUSTIN (Austin American-Statesman) – Avalonpark Texas LP and Orlando-based Avalon Park Group will start on two subdivisions next year, one in north Austin near I-35 and Yager Ln., and the other just outside of Dripping Springs.

Friday, September 11, 2009

Industrial buildings in Round Rock to be auctioned

Austin Business Journal

Kelly-Crystal Park LLC plans to auction four industrial buildings in Round Rock later this month.

The four buildings are located at the Spectrum at Crystal Park, on the on the southeast corner of Greenhill Drive and Old Settlers Boulevard. The park is situated between Seton Medical Center Williamson and Scott & White’s new hospital in Round Rock. The four buildings range in size from 5,755 square feet to 15,565 square feet.

New ‘eco’ hotel planned for downtown

Warehouse District development would be first in green luxury brand for company.

By Shonda Novak
Thursday, September 10, 2009

In the first major hotel project to be announced for downtown Austin in nearly two years, developers plan a 17-story hotel that could mark the debut of a new global brand.

The hotel, proposed for the southwest corner of West Fifth and Colorado streets in the Warehouse District, would be a concept called 1 Hotel, by Starwood Capital Group. Starwood Capital has billed the concept as the first luxury eco-friendly global hotel brand.

Sprouts Farmers Market makes move on Whole Foods turf

Published on 09/09/2009 11:24am By Pamela Riemenschneider

ROUND ROCK, Texas — The parking lot is full and checkout lines stretch from the front to the back of the store, but no one at the new Sprouts Farmers Market location seems to be complaining.

The store occupies a former Albertsons that closed several years ago and has been vacant since.

The location was ripe for the picking, said Doug Sanders, president and chief operating officer of Phoenix-based Sprouts Farmers Market. The chain opened two Austin-area locations on Sept. 4 and plans two more in Whole Foods’ back yard by the end of the year.


Subdivisions planned for North Austin, Dripping Springs

Developer says projects meet niche needs of location, price.

By Shonda Novak
Wednesday, September 09, 2009

Developers based in Texas and Orlando, Fla., plan to start work on two subdivisions next year, one near Interstate 35 and Yager Lane in North Austin and another in the Dripping Springs area, both with housing priced at under $300,000. Local real estate experts say they expect healthy demand for the projects, especially at the planned prices.

Downtown living flourishes

9/8/2009 9:36 PM
By: Reagan Hackleman
News 8 Austin

Austin’s skyline is changing as downtown sees an influx of residents.  Downtown Austin looks much different than it did just a few years ago.

“I think we’ll look back 10 to 15 years from now and say it’s a good thing,” Austin resident Martin Mufish said. There are differing opinions of Austin’s evolving skyline, as more and more people are calling Downtown Austin home.

“It’s been great,” Chelsea Write said. Write has called downtown home for about six months. She lives in the 360 Condos. As of Tuesday, every single one of them has been sold. A statistic that doesn’t surprise Chelsea at all. “Conveniently located to everything around here, easy to get around, public transportation, bikes, walking; it’s the best,” Write said.

News 8’s Reagan Hackleman tells us why the view is changing in Downtown Austin. According to the Downtown Austin Alliance, since 2007, 1,562 condos have been built or are currently under construction. Of those, 73 percent have been sold.

Austin’s Green Landmark

(Public Facilities : Austin-Round Rock) 9/4/2009
AUSTIN (dBusinessNews) –

Ground has been broken for the U.S. General Services Administration’s $116 million federal courthouse in downtown Austin.

The facility will have eight levels, including basement parking, totaling 252,420 sf. It includes eight courtrooms, ten chambers and office space for the district clerk, as well as room for U.S. Pretrial, U.S. Probation and U.S. Marshals services.

Austin Multifamily Market: Additions Offset Modest Demand

(Multifamily : Austin-Round Rock) 9/4/2009

AUSTIN (Marcus & Millichap) –

Additional new apartment housing will impact apartment fundamentals in Austin through the remainder of 2009 despite a modest increase in demand, according to Marcus & Millichap’s third-quarter market report.

As developers expand metrowide inventory by nearly 7 percent this year, owners are expected to significantly widen concessions to fill new projects.

Waterpark to slide into Pflugerville, could bring 300,000 guests yearly

Written by Amy Stansbury Friday, 04 September 2009
Community Impact Newspaper

Pflugerville could soon be home to a major entertainment destination for Central Texans. A large waterpark called Blu Bambu is proposed for the southwest corner of Pecan Street and Toll 130. It could open as soon as summer 2010 and is expected to attract more than 300,000 visitors annually.

Much larger than Volente Beach Waterpark but smaller than Schlitterbahn, Blu Bambu waterpark will feature a large wave pool, a stage for after-hours and off-season concerts, an action river, a longer lazy river, eight to 10 large water slides, activity areas for young children, sand volleyball courts and covered pavilions.

Plans still underway for Super Wal-Mart at Northcross

9/3/2009 9:12 PM
By: Reagan Hackleman
News 8 Austin

The lot that is supposed to be home to the super Wal-Mart still sits empty with the landscape of a pile of dirt and some overgrown weeds.  Summer Campbell often finds herself giving directions to the Designer Exchange, a store tucked behind what is supposed to one day be a Super Wal-Mart.

“At the four way stop, you’re going to take a left,” Campbell said to a customer over the phone.

She can’t wait until the day when she can say, we’re located right behind the Super Wal-Mart at Northcross Mall.

Austin post offices taken off closure list
Move comes after public outcry; final decision expected after Oct. 2.

By Juan Castillo
Thursday, September 03, 2009

Four Austin post offices have been removed for now from a list of almost 700 facilities the U.S. Postal Service had considered for closure or consolidation as part of its efforts to cut billions in costs and make operations more efficient.

New owners starting work at stalled development

Skywater backers relaunch site for homes, golf course in Hill Country.

By Shonda Novak
Tuesday, September 01, 2009

Some of the original backers are now the new owners of the stalled Skywater development in Horseshoe Bay, with plans to break ground Friday on a Jack Nicklaus Signature Golf Course to anchor the $245 million community.

The 1,618-acre project overlooking Lake LBJ is the first major new residential development in the region to relaunch during the recession.

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