fbpx

๐Ÿ’ธ $41.6M Manor Marvel: Housing Boom’s Newest Gem Lands! ๐Ÿš€

Austin Archuleta

๎€ฃ

February 8, 2024

๎‚Œ
Loading the Elevenlabs Text to Speech AudioNative Player...

Hereโ€™s what you need to know about Austin Real Estate today:

    • Austin’s affordable housing breaks ground, adding 204 units to combat crisis ๐Ÿ—๏ธ
    • North Austin’s new complex turns the page for those exiting homelessness ๐Ÿ 
    • Greystone and Texas Capital inject $5M into Central Texas housing boom ๐Ÿ’ฐ
    • KeyBank’s $41.6M loan kickstarts 325-unit Cantarra Apartments in Manor ๐Ÿš€

Housing Challenges and Solutions

Ground breaks on Austin affordable housing complex

Source: Newstalk Texasย 

Summary: The NHP Foundation, Capital A Housing, and the Austin Housing Finance Corp. have begun construction on Seabrook Square, a 204-unit affordable housing project. The units are intended for households earning 60 percent or less of the Area Median Income (AMI). The property also features 3,000 square feet of commercial space. Financing for the project includes a $40 million tax-exempt bond, $32.3 million in Low-Income Housing Tax Credit, $13.5 million in subordinate debt financing, and a $3.4 million construction loan. Completion of the project is expected by end of 2025.

Why this matters: The commencement of the Seabrook Square project signifies a growing trend of integrating affordable housing with commercial space. This information can help real estate professionals identify potential investment opportunities and advise their clients accordingly.

Read more

 

 

Grand opening for North Austin apartment complex to help people exiting homelessness

Source: KVUE News

Summary: A new apartment complex recently had its grand opening in North Austin, aimed specifically at providing homes for those transitioning out of homelessness. The resident testimonials highlight the positive impact the complex is having on the community, with many finding a place to stay and get off the streets.

Why this matters: As real estate professionals, understanding the local housing initiatives can help shape conversations with clients about the community’s commitment to tackling homelessness, potentially increasing the appeal of the neighbourhoods for socially conscious buyers.

Read more

 

 

The NRP Group Celebrates Grand Opening of Upscale Mixed-Income Multifamily Community Station42 in Killeen Texas Near Austin

Source: Yield Pro

Summary: The NRP Group, in partnership with The City of Killeen Public Facility Corporation (PFC), J.P. Morgan, and Texas Capital Bank, have opened a new 368-unit mixed-income multifamily project, Station42, in Killeen, Texas. Designed to cater to a diverse income range, Station42 aims to address the affordable housing issue in the region due to rapid population growth. The property, which features robust amenities and high-quality housing, is strategically located between Austin and Waco, offering opportunities for military families, young professionals, and working families.

Why this matters: The opening of Station42 demonstrates a significant commitment to providing affordable, high-quality housing in Central Texas. Its strategic location and diverse income-focused model provide a valuable investment opportunity, offering insight into potential growth areas for real estate professionals in the residential sector.

Read more

Urban Planning and Policy Initiatives

    New regulations around Austin transit routes fast-tracked in support of Project Connect plans

    Source: Community Impact Newspaper

    Summary: Austin city officials and planners are fast-tracking new policies aimed at encouraging denser development near transit routes, in support of the multibillion-dollar Project Connect light rail plan. The city council has approved a series of policy changes aimed at improving transit access and walkability around new developments, promoting affordable housing, and allowing more housing construction in Austin. These policy updates fall under the city’s Equitable Transit-Oriented Development (ETOD) policy planning, which focuses on affordability, accessibility, and equity in communities around rail and bus stations. The plans include creating an “”ETOD overlay”” that will allow denser buildings near station areas, with incentives for affordable spaces in new constructions. Among the proposals are updates to the East Riverside Corridor Regulating Plan, revisions to downtown parking regulations to limit parking in new high-rise development, and the creation of a new affordable housing bonus program.

    Why this matters: With new regulations supporting denser development near transit routes, real estate professionals operating in Austin and its satellite areas can leverage this shift in policy to identify new investment opportunities, especially in areas near transit stations, while also contributing to the city’s goals of increased affordability and accessibility.

    Read More

    Events, Stuff to do

    Celebrating Triumphs and Looking Ahead: Lake Travis ISD’s Noteworthy Year

    Lake Travis ISD concludes a remarkable year with significant milestones, emphasizing its commitment to educational excellence and community engagement. From celebrating numerous academic, athletic, and fine arts victories to launching ambitious plans for school safety, fiscal sustainability, and facilities expansion, LTISD is setting the stage for an even more promising future. Discover how these achievements and future initiatives are shaping the Lake Travis area and contributing to Austin's vibrant community, signaling a dynamic and thriving environment for current and prospective residents.

    "Create an uplifting and vibrant digital painting that captures the essence of Lake Travis Independent School District's (LTISD) triumphant end to the 2023-2024 school year and the bright anticipation for future achievements. The image should feature a harmonious blend of the following elements: a scenic backdrop of Lake Travis with its recognizable natural beauty, a diverse group of students and teachers gathered in celebration, symbolizing academic, athletic, and fine arts successes. Include visual nods to future projects like a modern, eco-friendly school building representing the new facilities planned, and a safe, welcoming educational environment. The overall atmosphere should be one of community pride, unity, and forward-looking optimism, embodying the spirit of Austin and the LTISD's commitment to excellence."
    Commercial, Construction, Real Estate & Construction, Residential

    “Grace Plaza Retail: Unveiling Austin’s Next Big Shopping Destination”

    Set to revolutionize Austin's shopping scene, Grace Plaza Retail emerges at the bustling intersection of Wells Branch Parkway and Dessau Road, boasting a $2 million project managed by Arig Investments with designs by Torti Gallas + Partners. This expansive 8,879 square foot development promises a unique blend of commerce, culture, and community, set to open its doors on August 31, 2025. Discover how Grace Plaza Retail will become the epicenter of retail innovation in Austin and explore leasing opportunities by clicking through to read the full article.

    The hero image for this article could capture the essence of Austin's vivacity and the exciting promise of Grace Plaza Retail. Picture this: The image is set during the golden hour, casting a warm, inviting glow over the bustling intersection of Wells Branch Parkway and Dessau Road. In the foreground, an artist's vibrant, life-like rendering of Grace Plaza Retail stands proudly, its modern and inviting architecture drawing the eye. The plaza is buzzing with activity; people of all ages and backgrounds are depicted exploring the space, with some carrying shopping bags adorned with the logos of future tenants, hinting at the variety of retail offerings. Above the plaza, the project's name, "Grace Plaza Retail," is emblazoned in stylish, bold letters, with smaller text announcing "The Future of Shopping in ATX" beneath it. Around the plaza, the surrounding Austin landscape is alive with energy. Greenery lines the streets, and the distant Austin skyline is visible, symbolizing the city's growth and the plaza's role in its vibrant community. Pedestrians are shown engaging with interactive outdoor installations, highlighting the project's emphasis on community interaction and cultural integration. Digital screens within the plaza tease upcoming events and grand opening specials, creating a sense of anticipation. In one corner, a small group gathers for what appears to be an outdoor yoga class, showcasing the plaza's commitment to communal and wellness spaces. The overall atmosphere is one of excitement, innovation, and community spirit, perfectly encapsulating the article's message about Grace Plaza Retail being a cornerstone of Austin's retail landscape. This dynamic and richly detailed image serves as an invitation to readers, beckoning them to learn more about this transformative project and its impact on the local shopping scene and community life.
    Daily Brief, Events, Local News, Stuff to do

    Dive into Austin’s May 27th Vibes: Hot Weather, Cool Events, and Real Estate Insights!

    Discover the dynamic Austin lifestyle through todayโ€™s local insights, from unpredictable weather and eclectic events to key developments in the Lake Travis School District signaling growth and opportunity. Whether you're drawn to the vibrant community, the lively entertainment scene, or the promising educational advancements, there's something here for everyone. Dive into the full story to see why Austin is not just a place to live, but a place to thrive, and how Smart Austin Realty can guide you in navigating this exciting market.

    Discover the dynamic Austin lifestyle through todayโ€™s local insights, from unpredictable weather and eclectic events to key developments in the Lake Travis School District signaling growth and opportunity. Whether you're drawn to the vibrant community, the lively entertainment scene, or the promising educational advancements, there's something here for everyone. Dive into the full story to see why Austin is not just a place to live, but a place to thrive, and how Smart Austin Realty can guide you in navigating this exciting market.
    Share This