Elon Musk's Boring Company wants to dump wastewater into the Colorado River "Elon Musk’s Central Texas-based tunneling and infrastructure operation is seeking a permit that would allow it to dump up to 142,500 gallons of treated wastewater a day into the Colorado River from its property in Bastrop County." (Kara Carlson, Austin American-Statesman)
Austin OKs energy rate increase "Austin City Council has approved a plan to increase the city’s power supply adjustment charge — one that quells the blunt force of a 71% increase proposed by Austin Energy in September. Taking effect on Nov. 1, the plan will annually recover $34.73 million over the course of the next three years and make up Austin Energy’s $104.2 million deficit." (Mike Christen, Austin Business Journal)
Inside Zilker Studios, South Austin’s Latest Affordable Housing Community "The 110-unit apartment building now nearing the end of construction at 1508 South Lamar Boulevard looks like it’s almost ready to hit South Austin’s hungry luxury market — but Zilker Studios, the latest project from local nonprofit Foundation Communities, has a higher calling. Each of its studio residences averaging 431 square feet in size will be rented at deeply affordable rates to single adults earning no more than 50 percent of the Austin metro’s Median Family Income, many of them transitioning directly from homelessness." (James Rambin, Towers)
Austin booms as one of the top 10 U.S. markets for new hotels underway "As of the second quarter of 2022, 80 projects featuring 10,306 guest rooms were in the planning or development stages in the Austin area, according to a new report published by hospitality data provider Lodging Econometrics. Austin ranks 10th in the U.S. for hotel construction." (John Egan, CultureMap Austin)
Study makes case for investing in cheaper housing as Austin group buys more apartments for moderate-income rentals "A new report challenges the idea that investing in more affordable housing developments yields lower returns than luxury apartments — bringing added weight to a local fund that aims to maintain cheaper housing. The report from Southern Methodist University and the University of Texas at Austin finds that moderate-income rental housing is a viable and profitable investment for those seeking to support a fund that embraces environmental, social and governance principles, or ESG." (Mike Christen, Austin Business Journal)
ZAP recommends mixed-use zoning along Lakeline Boulevard over neighbors’ objections "Despite objections from several neighbors, the Zoning and Platting Commission recommended a rezoning Tuesday that could bring a mixed-use development to Lakeline Boulevard. The property in question at 2610½ S. Lakeline Blvd. straddles the boundary between Austin and Cedar Park. The property owner hopes to rezone the 3.2-acre Austin tract to Community Commercial-Mixed Use (GR-MU) in order to build apartments and a mix of other uses. Current plans show townhomes on the Cedar Park tract. The project, as currently envisioned, would lead to about 80 new residential units." (Jonathan Lee, Austin Monitor)
West Coast company buys mid-rise in North Austin for new HQ "A national home improvement company has purchased North Austin’s Anderson Tower, where it will relocate its headquarters in the coming years. Oregon-based DaBella Exteriors LLC purchased the mid-rise at 400 East Anderson Lane." (Cody Baird, Austin Business Journal)
