Hines breaks ground on new massive industrial project in Austin "As demand for industrial space continues surging in Central Texas, Houston-based Hines has launched construction on a large project in Northeast Austin, its first industrial development in the capital city." (Shonda Novak, Austin American-Statesman)
Austin home sales and prices expected to drop in 2024 "Soaring home prices in recent years could calm down in 2024 after a report from Realtor.com predicted a drop in both home sales and prices for the Austin-Round Rock Area. Specifically, the real estate website predicted home sales in the Austin metro area would fall by 11.7%, while prices would fall by 12.2% compared to both of those marks in 2023. " (Beck Andrew Salgado, Austin American-Statesman)
60 townhomes coming to downtown Round Rock by 2025 "Monarch on Main will consist of 60 two-story townhomes with garages and a few community amenities, such as a park area with barbecue pits, said Bryan Bell, vice president of land acquisition for project developer PulteGroup’s Central Texas division." (Brittany Anderson, Community Impact)
Another Austin-area city has joined a lawsuit against controversial deannexation law "A second Austin-area city has joined a lawsuit challenging the constitutionality of Senate Bill 2038, the controversial law that allows landowners on the fringes of cities to petition out of regulatory control so developers can build more on their own terms. (Justin Sayers, Austin Business Journal)
Austin investor defaults on $25M loan backed by San Antonio apartments "GVA, an Austin real estate investor and property manager that made a slew of purchases during the pandemic, is staring down the barrel of yet another troubled San Antonio investment." (Ramzi Abou Ghalioum, Austin Business Journal)
