Trendy social club Soho House opens doors on South Congress in Austin "Nearly three years after its announcement, Soho House, the trendy, members-only social club, has opened its first Texas location on South Congress Avenue. Soho House is in the recently completed Music Lane development, a mixed-use project that includes office, dining and shopping venues." (Lori Hawkins, Austin American-Statesman)
Austin raises property tax exemption for homeowners to highest rate allowed "As the median price of a home in Austin surpassed half a million dollars this year, City Council members voted Thursday to tax a smaller amount of owners’ home values. City leaders doubled the current general homestead exemption of 10 percent, taking it to 20 percent, the highest amount permitted by Texas law. That means homeowners will not have to pay property taxes on one-fifth of the value of their primary home." (Audrey McGlinchy, KUT)
Reger secures nearly $279M in construction financing for downtown tower, mixed-use project "Reger Holdings LLC, a New York-based real estate developer, has secured $278.5 million in construction financing from Madison Realty Capital LP for projects in Austin. The financing is for The Linden, a condominium high-rise planned at 313 W. 17th St., and various elements within EastVillage, an ambitious mixed-use development planned for East Parmer Lane." (Michelle Pitcher, Austin Business Journal)
Waller Creek Boathouse event, cafe space will have to move from current location to make way for light rail "The planned Blue Line light-rail route that will connect the Austin-Bergstrom International Airport to downtown and North Austin will cross over Lady Bird Lake on an above-ground bridge before entering into a tunnel system downtown. While staff from Capital Metro and the Austin Transit Partnership are still discussing proposed station locations and the rail route, they have said the spot where the rail line crosses the river and enters the tunnel system will necessitate the removal of portions of the Waller Creek Boathouse." (Jack Flagler, Community Impact)
City tax increase likely, but not 8 percent "Although City Council can raise the city’s tax rate by 8 percent under Gov. Greg Abbott’s disaster declaration related to Winter Storm Uri, Council members will have to carefully weigh how to spend any revenue collected on money generated above the 3.5 percent cap. Because it won’t be there next year." (Jo Clifton, Austin Monitor)
Austin City Council commits to spending $95M in federal funds on homelessness "After months of debating how best to spend a transformational amount of federal stimulus money, the Austin City Council has directed the bulk of it — $95 million — to addressing homelessness. All told, Austin received $188.4 million in the federal money, which was about $7 million less than initial estimates. That $188.4 million was in addition to $11 million exclusively for homelessness and $35 million exclusively for emergency rental assistance." (Ryan Autullo, AAS)
Bastrop 552 film studio project being tweaked after community pushback "Bastrop 552, a 546-acre private entertainment hub that would include a film studio, remains one step away from approval, and is facing increased scrutiny from local officials. Bastrop City Council on June 8 delayed a vote on whether to endorse the concept plan for the project." (Justin Sayers, ABJ)
