Listen to the Podcast series "Growth Machine," for insight into East Austin and Austin History, Struggles, and Solutions.

In the debut episode of "Growth Machine," the podcast explores the dynamic evolution of East Austin, delving into its carefully crafted urban transformation and the diverse community members who planned and shaped its future. Join the journey as East Austin's past and present intersect in a captivating narrative of growth, culture, and innovation.

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Check out our page dedicated to East Austin for History, Events, Commercial Deals Done and more insights.

Sock Club Enterprises Acquires Twin Towers Office Campus in East Austin

Despite challenging market conditions, Sock Club Enterprises LLC has purchased the Twin Towers, a two-building office campus located on Clayton Lane in East Austin. The property, which was 59% leased at the time of sale, will now serve as the headquarters for Sock Club. This acquisition underscores the continued interest in East Austin as a strategic location for business operations.

Citation: Parimal M. Rohit, “Central Texas Office Campus Sold Amid Cold Market Conditions,” CoStar, July 26, 2024. Read more

East Austin’s Block 18 Set for Major Redevelopment

The redevelopment of Block 18 on East 11th Street is gaining momentum, with the City of Austin backing the project. The site will be transformed into a vibrant mixed-use area featuring affordable housing, artistic spaces, and commercial venues. This project is part of a broader effort to revitalize and preserve the historic character of East Austin’s African American Cultural Heritage District.

Citation: Community Impact, July 29, 2024. Read more.

$112M Redevelopment in East Austin to Feature Affordable Housing and Cultural Venues

The Pleasant Hill Collaborative is leading a $112 million redevelopment project on East 11th Street, set to bring affordable housing and cultural spaces to the heart of East Austin. This development includes 138 residences, 27,000 square feet of cultural venues, and retail space, all within the African American Cultural Heritage District. The project aims to enhance the neighborhood while respecting its historical significance.

Citation: Ben Thompson, “$112M Mixed-Use Redevelopment With Affordable Housing, Artistic Space Coming To East Austin,” Community Impact, July 23, 2024. Read more

Hyperreal Film Club Finds New Home in East Austin

The Hyperreal Film Club has announced its relocation to a new venue in East Austin, enhancing the local arts scene. This unique film club offers a blend of eclectic movie screenings and community events, fostering a vibrant cultural environment. The move signifies East Austin's growing reputation as a hub for creative and artistic endeavors.

Citation: Britny Eubank, KVUE CultureMap "Hyperreal Film Club Finds New Location in East Austin." CultureMap Austin, May 2024. Link to article.

East Austin Welcomes New York's Mother’s Ruin This Fall

New York's popular bar and restaurant, Mother's Ruin, is set to open a new location in East Austin this fall. Known for its creative cocktails and American eats, the establishment promises to bring a fresh and exciting culinary experience to the area. This addition marks another milestone in East Austin's dynamic food and drink scene, attracting both locals and visitors alike.

Citation: Natalie Petrovich @ Hoodline "New York’s Mother’s Ruin to Spice Up East Austin with Cocktails and American Eats This Fall." Hoodline, May 2024. Link to article.

The Prado Apartments Now Pre-Leasing in East Austin

Greystar has initiated pre-leasing for The Prado, a 396-unit multifamily development in East Austin. This luxury community offers modern amenities and is strategically located to provide residents easy access to the vibrant culture and opportunities of East Austin. The development aims to enhance the area's residential options, catering to the growing demand for high-quality living spaces.

Citation: Multifamily Biz Staff. "Greystar Begins Preleasing at 396-Unit The Prado Apartments in Austin." Multifamily Biz, May 2024. Link to article.

Revitalizing East Austin: Over 1,400 New Homes to Transform the Landscape

In an ambitious move set to reshape East Austin, homebuilder Taylor Morrison is launching a massive development project, constructing 1,461 new houses on 427 acres along Kellam Road. This initiative, fueled by a $10 million bond from Travis County to bolster the PID, which levies taxes to fund property improvements like road construction, utilities, landscaping and parks. The development aims to cater to Austin's burgeoning real estate market, offering homes priced between $345,000 to $426,000. The development, known as the Longview 71 PID, enjoys a strategic location near the Austin-Bergstrom International Airport and Tesla's headquarters, promising to bring vibrant community improvements and much-needed residential space to the area. read the full story titled "Home developer building more over 1,400 new houses in East Austin" by Emily Hernandez, published on March 21, 2024, at MySanAntonio.com

Our New Neighbor -Tecovas Boots Up in East Austin with New 30K SF Headquarters

Tecovas, the rapidly growing western wear brand, has recently announced its move to a new 30,000 square feet headquarters located at 901 East 6th Street, East Austin, just 2 blocks from our Beck-Reit Commercial Offices. This strategic move comes after the brand's remarkable growth, requiring more space beyond its prior office and interim WeWork arrangement. Tecovas, founded in Austin in 2015 and 32 locations across the country, has seen its revenue soar, with sales now nearing $200 million, attributed to its unique offerings and strategic expansions, including a flagship store on South Congress and a series of retail locations nationwide. This shift not only underlines Tecovas' commitment to its Austin roots but also highlights East Austin's allure as a hub for innovative and culture-centric businesses. Read full story by TRD Staff March 21, 20024 in The Real Deal here

East Austin's 107 Acres Tokyo Electron Property: $87 Million Investment in Affordable Housing

The City of Austin has committed to spending $87 million on acquiring property in Southeast Austin to develop affordable housing. This significant investment aims to address the city's pressing need for affordable living spaces and marks a milestone in efforts to enhance the quality of life for East Austin residents. The initiative reflects Austin's broader goals of improving housing accessibility and affordability, demonstrating a proactive approach to urban development and social equity. Read full story by LUZ MORENO-LOZANO, KUT Austin Monitor March 22, 2024 HERE

East Austin's Abandoned Strip Mall Transformation: A Beacon of Retail and Grocery Hope

CLD Realty is set to revitalize a long-abandoned strip mall in East Austin, aiming to address the area's food desert status by bringing in much-needed retail and grocery options. With plans submitted for a site development permit, the project envisions a 30,000-square-foot retail center poised to enrich the local community by offering accessible shopping and dining choices. This initiative marks a significant step towards providing essential services to East Austin residents, promising a brighter, more convenient future. Councilmember Natasha Harper-Madison emphasizes a collaborative, equity-focused approach to addressing East Austin's challenges through the Northeast Planning District, aiming for sustainable growth and improved access to essential services for the community. For the full story, read the article by Jessica Cha, published on March 21, 2024, at KVUE.com

Velocity Rises in South East Austin: A New Horizon for Mixed-Use Development

The Velocity development, a sprawling mixed-use project on Austin's eastern edge, begins vertical construction, promising to transform 314 acres into a vibrant district with thousands of homes, retail space, hotels, and green spaces. Highlighting the project's scale, equivalent to about 14 Frost Bank Towers, this initiative by the Presidium Group signifies a major boost for Southeast Austin's growth and connectivity.

Read full article by Cody Baird in the Austin Business Journal, published on March 22, 2024, here

280 Apartments planned for East austin. 7300 Metro Center Drive

One of the nation's largest owners of apartment buildings is planning a mixed-use development with nearly 300 apartments on a 10-acre site near Austin-Bergstrom International Airport. Story on Austin Business Journal by Mike Christin 2/29/24

The Easton Hills apartments will be redevelped in East Austin.

Easton Hills constructed in 1972, with 134 units will be redveleoped into vertical mixed-use complex with 385 multifamily units and 9,000 square feet of office and retail space . Story on Austin Business Journal by Mike Christin 3/1/24

Foundation Communities has secured $62.3 million to construct Norman Commons in East Austin. 156 Units of Affordable Housing.

Austin is still behind on its goals to build more affordable housing, but one nonprofit looks to close that gap. Foundation Communities has secured $58 Million for construction which includes $31.5 million from Texas State Affordable Housing Corporation (TSAHC) awarded in Private Activity Bonds for a total of $62.3 million budget for the project. The remaining financing came from Wells Fargo, housing tax credit equity syndicated by Wells Fargo, Capital Magnet Funds, the Federal Home Loan Bank of Dallas, and the Austin Housing Finance Corporation which provided the land and funding through the use of Project Connect dollars and General Obligation Bond funds. More HERE

East Austin Welcomes Holey Moley: A New Twist on Putt-Putt Golf and Bar Scene"

This month, East Austin is set to embrace a unique entertainment experience with the opening of Holey Moley, a creative blend of putt-putt golf course and bar. Promising fun-filled evenings with innovative golf challenges and refreshing beverages, Holey Moley is poised to become a new hotspot for locals and visitors alike. Offering a fresh take on nightlife and leisure, this venue adds to East Austin's vibrant and diverse entertainment landscape. Read full story by Beck Andrew Salgado at Austin American-Statesman on March 22, 2024 HERE

$4 Billion Mixed Use Project kicks off on 102 ACres at Riverside and Wickersham in East Austin

Referred to the project as the “Domain on Riverside,” drawing parallels with the upscale Domain mixed-use development in North Austin. East of the Oracle Campus and south of Lady Bird Lake the project is slated for 10 million square feet of office, retail, residential, hotel and entertainment uses. 1st to be demolished - the 252-unit Tempo apartment complex, at 4700 East Riverside Drive. “The zoning approvals granted to Presidium by the City of Austin offer flexibility to adapt to market demands. Plans for the first phase include 370 apartments, 400,000 square feet of office space, and 12,000 square feet of retail space. Some of the apartments will have below-market rents to cater to residents with incomes below the area’s median family income.” Full Story Here

East Austin Multifamily complex “Easton Hills” targeted for redevelopment

Currently, the site is 5 acres and 134 units - a redevelopment of the site would be a vertical mixed-use project that will include 385 multifamily units and 9,000 square feet of office and retail space. Affordable Units? “Under the requested zoning change, the developer would have an option to pay a fee-in-lieu of affordable housing or provide on-site affordable options. According to city code, at least 10% of residential rental units must be dedicated for use as affordable housing, and they must be made available to individuals earning below 80% of the region’s median family income. That currently amounts to $84,150 for a three-person household, according to the city's housing department.” Full story here

923-unit self-storage facility Coming to East Austin.

The existing structure on the 1.5-acre site at 853 Airport Blvd. will be redeveloped into a facility that spans 112,000 gross square feet and 83,000 net rentable square feet of climate-controlled space.

Co-Working Space “The Malin” coming to East Austin

members-only coworking club, has signed a 12,123 square-foot lease at 1515 Cesar Chavez, the Class A boutique office building in East Austin. Scheduled for a grand opening in summer 2024, this new office space marks The Malin’s much-anticipated debut in the Texas market, offering an innovative workspace designed to accommodate 28 dedicated desks, 10 private offices and four meeting rooms.

Austin ISD to transform East Austin Site into Affordbale Housing for Teachers.

AISD will be leasing 18 acres of land to the Houston-based developer to repurpose the underutilized district site and build over 500 high-quality yet affordable rental units. Story HERE

City of Austin | Northeast Service Center RFP

City of Austin’s Office of Real Estate Services, is issuing a solicitation inviting qualified parties (“Proposers” or “Development Managers”) to submit their proposals to provide development assistance for new facilities for the City of Austin at 8301 Johnny Morris Road in Austin, Texas. The Project is to benefit Austin Resource Recovery and the Fleet Mobility Services Department and is known as the Northeast Service Center (“NESC”). This facility will serve as a primary administrative office and service center for ARR and FMSD uses. MORE INFO

Huston Tillitson KeyNote Speaker at Bisnow - AUSTIN STUDENT HOUSING & UNIVERSITY DEVELOPMENT SUMMIT

Our own East Austin Huston-Tillotson

MELVA WILLIAMS -President & CEO

Will be speaking : NAVIGATING STUDENTS' FUTURE NEEDS | Adapting Higher Education: Pioneering the Path Forward for Evolving Student Needs and the Future of Academia. REGISTER HERE

Tiny apartment project headed to East Austin

13,000 square feet of restaurant and retail space
192 apartments
Estimated cost of $43 million
Rise four floors and 43 feet
111,359 square feet on 1.3 acres at 3511, 3525 and 3535 E. Seventh St. and 621 Gunter St.

See ABJ Story Here

FINANCING COMPLICATIONS STALL AFFORDABLE HOUSING PROJECTS IN EAST AUSTIN, CREATING DELAYS IN ADDRESSING HOUSING WAITLIST

Two affordable housing projects in Austin, one on Ryan Drive in North Austin and another on Frontier Valley Drive in Southeast Austin, have been paused due to financing complications, which is causing setbacks in the city's efforts to address its affordable housing shortage. The projects were expected to add around 1,400 apartments, with over 450 units designated for affordable housing. The delays come on the heels of another affordable housing development stall and could add several more years to the timeline for these projects to be completed.

CITY PLANS UPGRADES TO EAST AUSTIN'S RED LINE RAILS AND TRAILS FOR IMPROVED PEDESTRIAN AND BIKE ACCESS

The Austin Transportation and Public Works Department is embarking on a project to enhance pedestrian and bicycle access along East Fifth Street in conjunction with CapMetro's plans to double-track the Red Line rail transit network in East Austin. The project will focus on improving the stretch of East Fifth Street between Navasota and Pedernales Streets, including the redevelopment of the Red Line Parkway trail and connections to various pedestrian networks. The plans involve a combination of shared-use paths, quiet streets, sidewalks, and other features designed to enhance transportation options in the area.

AUSTIN LEADERS PROPOSE LOWERING MINIMUM LOT SIZES TO ENCOURAGE AFFORDABLE HOUSING OPTIONS IN EAST AUSTIN

Austin City Council is considering a resolution to lower the minimum lot size required for building a house, aiming to encourage the construction of smaller and more affordable homes. The proposal seeks to reduce the current minimum lot size from 5,750 square feet to 2,500 square feet, allowing homeowners to build up to three homes on each lot. The move comes in response to the skyrocketing housing costs in Austin, with the rising home prices making homeownership out of reach for many middle-income earners.

East Austin Dairy Plant Redevelopment Receives Rezoning Approval for Multi-Tower Mixed-Use Project Along Colorado River

Endeavor Real Estate Group's ambitious plan to transform an East Austin dairy plant into a multi-tower, mixed-use development has received rezoning approval from the Austin City Council. The 21-acre site, currently occupied by a Borden Dairy Co. facility, will undergo a significant transformation, featuring 1,400 residential units, over 400,000 square feet of office space, more than 100,000 square feet of retail space, and a 220-room hotel. The project's approval comes after discussions on density, environmental impact, and neighborhood concerns.

EAST AUSTIN WELCOMES DIVERSE HOUSING DEVELOPMENT TO REAL STREET, CATERING TO VARIOUS PRICE POINTS

A joint development between The Geyser Group and The Sephira Group is bringing the Real Street Apartments to East Austin, offering a mix of market-rate and affordable units for various income levels. The project, comprising two buildings, will consist of 286 units across a range of sizes. Additionally, the development emphasizes community-focused affordable housing and is conveniently situated near existing rail lines and transit stations.

CITY COUNCIL APPROVES REZONING OF FORMER BORDEN DAIRY SITE FOR MAJOR MIXED-USE DEVELOPMENT IN EAST AUSTIN

Austin City Council has given final approval for the rezoning of the former Borden Dairy site in the Govalle neighborhood, allowing it to be transformed from an industrial site into a mixed-use development. The 21-acre site, adjacent to the Colorado River Park Wildlife Sanctuary, will include 1,400 residential units, offices, restaurants, retail, and a hotel. While some neighborhood activists opposed the project due to concerns about building height and environmental impact, the developer, Endeavor Real Estate, worked with the East Austin Conservancy to ensure affordable housing and compliance with city regulations, including dark skies requirements.

LONG-RUNNING LEGAL DISPUTE OVER EAST AUSTIN SITES INVOLVING NATE PAUL'S WORLD-CLASS HOLDINGS NEARS RESOLUTION, OPENING DOORS FOR VALUABLE REAL ESTATE SALES

The Texas Supreme Court's recent decision not to hear Nate Paul's appeal in a legal dispute involving his company, World Class Holdings, and the Roy F. and Joann Cole Mitte Foundation is paving the way for the sale of two valuable downtown Austin sites. The sites, located at 99 Trinity St. and around The Austonian skyscraper, were at the center of a lawsuit stemming from a souring relationship between World Class and the nonprofit foundation. The ruling could lead to combined sales of $172 million and resolution in one of the longest-standing legal battles surrounding World Class Holdings.

EAST AUSTIN'S LARGEST AFFORDABLE HOUSING PROJECT, PERSIMMON POINT, BREAKS GROUND WITH 126 HOMES SET FOR COMPLETION BY 2027

Austin Habitat for Humanity has initiated the construction of Persimmon Point, a large-scale affordable housing development in Southeast Austin, consisting of 126 townhomes and condominiums across 18 buildings. The project, a culmination of a decade-long effort including road construction for better connectivity, aims to provide homeownership opportunities to families. With homes estimated to cost below $200,000, the development addresses Austin's affordable housing challenges in a city where the average home price exceeds $500,000.

UNIVERSITY OF TEXAS' AMBITIOUS PLANS AND PARTNERSHIPS SHAPE DEVELOPMENT LANDSCAPE, INCLUDING EAST AUSTIN

The University of Texas' land holdings in Austin are playing a significant role in the city's development plans, from the life sciences Innovation District to potential semiconductor research areas. UT's leaders are considering public-private partnerships for various projects, such as graduate housing in East Austin and student accommodations in West Campus, aiming to create inviting spaces close to campus that promote success and community engagement. The university's expansion plans also focus on respecting neighborhood commitments and creating seamless transitions between different areas of development, fostering a sense of unity and accessibility.

UNCERTAINTY LOOMS FOR PETER PAN MINI-GOLF AND FORMER MCDONALD'S SITE IN LIMBO NEAR EAST AUSTIN

The future of the iconic Peter Pan Mini-Golf and the site of a demolished McDonald's in East Austin is uncertain as they are caught up in the dealings of family trusts managed by the Texas Juvenile Justice Department and the state's orphans, with an as-yet-unknown trustee to be appointed. Peter Pan Mini-Golf, operating for nearly 75 years, intends to continue despite its lease set to end in April 2024, while the fate of the adjacent properties remains unclear. The involvement of these trusts highlights the complexities of real estate transactions in a rapidly changing city.

EAST AUSTIN'S STORYBUILT FACES $1.5M LAWSUITS FROM INVESTORS AND CONDO COMMUNITY AMID FINANCIAL STRUGGLES

Austin-based developer StoryBuilt is facing legal challenges as three separate lawsuits have been filed against the company this year, with plaintiffs seeking over $1.5 million in combined monetary relief along with non-monetary relief. The lawsuits shed light on the company's financial difficulties, particularly after co-founder Anthony Siela disclosed plans to furlough a significant portion of the staff due to the failure to meet growth goals. The lawsuits include allegations of negligence causing water damage in a condo complex, breach of contract and fraud by investors, and breach of contract and fraud related to a settlement by an investor holding class A shares in StoryBuilt.

EAST AUSTIN PERSISTS IN EVALUATING NASH HERNANDEZ BUILDING FOR INTERGENERATIONAL COMMUNITY CENTER

The city of Austin is progressing in its efforts to establish a community center for seniors and young children in East Austin, with the Nash Hernandez Building being one of the four potential sites under consideration. The building, located within Holly Shores/Edward Rendon Sr. Metropolitan Park, has been vacant since 2009 and has sparked debate between its conversion into an intergenerational resource activity center (IRAC) or offices for the Parks and Recreation Department. The city is now evaluating community feedback and considering the logistical aspects of integrating child care programs with activities for seniors at the chosen facility.

EAST AUSTIN EMBRACES SUSTAINABLE ARCHITECTURE AS CITY'S GROWTH SPURS DEMAND FOR GREEN BUILDINGS.

The architecture sector in Austin is experiencing significant growth, with firms reporting a total revenue of $332 million in 2022, a 25% increase from the previous year. Architects are not only focused on creating visually appealing and functional buildings but also play a crucial role in promoting sustainability and coexisting harmoniously with the environment. By designing energy-efficient structures and using materials with lower energy footprints, architects contribute to a more sustainable and eco-friendly city, safeguarding natural resources for future generations.

GABRIELA'S GROUP DIVERSIFIES WITH TWO NEW NIGHTLIFE VENUES SET TO OPEN IN EAST AUSTIN

Gabriela's Group, known for photogenic restaurants, is expanding into Austin's nightlife scene with the opening of two clubs, Mala Fama and La Factoria, offering live music and rotating local DJs under neon designs at their Sixth Street location. Meanwhile, The Brass Tap is set to open a craft beer bar in North Central Austin's Triangle area, offering 63 taps, cocktails, and an extensive food menu, providing a safe and convenient alternative to Sixth Street and Rainey Street's nightlife. Additionally, the Inn Cahoots hotel in East Austin has unveiled a "hospitality compound" with three bars, two gardens with performance stages, and a food truck lot, catering to group stays and events in the area.

REAL STREET APARTMENTS TO BRING DIVERSE HOUSING OPTIONS TO EAST AUSTIN, INCLUDING AFFORDABLE AND SUPPORTIVE UNITS

The Real Street Apartments, a joint development by The Geyser Group and The Sephira Group, are set to rise in East Austin, offering a mix of market-rate and affordable units for a diverse range of households. The project includes 286 apartments across two buildings, with 60 units designated as permanent supportive housing to cater to chronically homeless individuals. Located close to the existing rail line and transit-oriented, the development aims to provide much-needed affordable housing in the area while also considering the community's needs and well-being.

SPROUTS FARMERS MARKET TO OPEN FIRST STORE IN EAST AUSTIN, BRINGING FRESH PRODUCE-FUELED DELIGHTS TO THE MUELLER NEIGHBORHOOD

Sprouts Farmers Market, the popular Arizona-based grocery chain known for its emphasis on fresh and healthy foods, is set to open a new store in Austin's Mueller neighborhood on September 22. This will be the first Sprouts location east of Interstate 35, providing easy access to Central and East Austin shoppers. The store's focus on a wide range of fresh produce, organic products, and specific dietary preferences, along with its call for 95 new employees, highlights its commitment to catering to the community's needs and promoting a healthy approach to grocery shopping.

DICK CLARK + ASSOCIATES partners with Beck-Reit & UNVEILS PLANS FOR INNOVATIVE MASS TIMBER MIXED-USE DEVELOPMENT IN EAST AUSTIN.

Dick Clark + Associates (DC+A) & Beck-Reit unveil plans for mixed-use development at the corner of East 7th and Pedernales Streets in East Austin. The 50,000-square-foot building, featuring mass timber and cross-laminated timber (CLT) construction, will have four stories and an underground parking level. The development offers partnership opportunities, including office spaces and leasable areas for a restaurant and retail, with occupancy available in late summer 2025. DETAILS

Endeavor approved to build Tallest Buildings in East Austin

Bustling mixed-use district with 1,400 residential units, more than 400,000 square feet of office space, more than 100,000 square feet of retail space and a 220-room hotel. Read more HERE

The City Of Austin plans more Public Upgrades in East Austin - adding more Pedestrian and Bike Access along East 5th

An upcoming project by the Austin’s Transportation and Public Works Department aims to improve pedestrian and bike access along East Fifth Street as part of two planned efforts by CapMetro to double-track the Red Line rail transit network along its existing path through East Austin.

CAPITAL METRO APPROVES $87 MILLION PURCHASE OF EAST AUSTIN OFFICE FACILITY FOR EXPANSION AND COST SAVINGS.

Capital Metro's board of directors has approved the purchase of an East Austin office facility for $87 million. The three-story building, located next to CapMetro's current administrative headquarters, offers 182,716 square feet of office space and sits on a 5.8-acre tract of land. The acquisition is expected to reduce leasing costs and provide space for projected future growth, allowing various departments to work together efficiently.

RAPID GROWTH AND HOUSING EXPANSION EXTEND TO EAST AUSTIN AS BASTROP SEES INFLUX OF NEW APARTMENTS

Bastrop, a rapidly growing rural area in Texas, is set to receive a significant influx of housing with the construction of hundreds of apartments in the Pecan Park subdivision. The development is expected to accommodate the city's growing population, fueled by the presence of Elon Musk's companies, including SpaceX and The Boring Company, as well as Tesla's nearby gigafactory. The estimated $70 million project will consist of 400 apartments across 17 three-story buildings and is scheduled for completion by October 2025.

PRIVATE DEVELOPER PLANS TO BUILD 600-ACRE PUBLIC PARK IN EAST AUSTIN, DOUBLING THE SIZE OF ZILKER PARK

A private developer, Taurus Investment Holdings, plans to fund and construct a 600-acre public park in east Austin, Texas. The park, described as the "Zilker Park of east Austin," will be nearly double the size of Zilker Park and will be located between Walter E. Long Park and the East Metropolitan Park. The project, costing $8 million, will be completed in six to seven phases over the next seven years, with the first phase focused on designing and constructing a 12-foot wide paved trail through the park.

CIRCUIT OF THE AMERICAS PLANS TO ADD AMUSEMENT PARK "COTALAND" TO EAST AUSTIN

Circuit of the Americas, a sports and entertainment venue in Austin, plans to open an amusement and theme park called Cotaland. The park will feature five roller coasters, including the Palindrome, a unique Gerstlauer Infinity shuttle roller coaster that can travel forward and backward. With the first rides set to open this fall, Cotaland aims to attract families and tourists, providing a new entertainment option in the Austin area and boosting Southeast Austin's economy

CLOSURE OF MR. NATURAL'S SOUTH LAMAR LOCATION HIGHLIGHTS CHALLENGES FOR NICHE BUSINESSES IN AUSTIN'S GROWING MARKET, LOCATION IN EAST AUSTIN STAYS OPEN

After 20 years of operation, Mr. Natural, a well-known vegetarian restaurant and bakery in Austin, has closed its South Lamar location due to multiple challenges. The closure was influenced by the prolonged impact of the pandemic, decreased foot traffic, rising costs of goods, shortages, and construction on South Lamar limiting traffic flow. While the closure highlights the difficulties of running a niche business in a rapidly growing city like Austin, Mr. Natural's remaining location on Cesar Chavez Street will continue to operate, and efforts are underway to find a replacement tenant that will also offer plant-based foods.

Iconic Native Bar in East Austin Closes, Making Way for Holey Moley Mini-Golf Course.

The popular bar, event venue, and former hostel called Native in East Austin has closed down, and it will be replaced by a Holey Moley mini-golf course owned by Funlab, an Australian entertainment company. The 27-hole Holey Moley course is expected to open in November and will offer food, drinks, event space, and immersive experiences. Native had operated for over five years before its closure, and several food businesses that were operating there have either relocated or are seeking new locations.

ADELTON: A THRIVING MIXED-USE NEIGHBORHOOD IN BASTROP, FUELING EAST OF AUSTIN'S GROWTH

Adelton, a 348-acre mixed-use neighborhood in Bastrop, is currently under development and is expected to feature 1,200 homes, commercial space, trails, and parks. The first phase of construction is underway, with two model homes already completed by David Weekley Homes and Empire Communities. The developers are now seeking commercial tenants for three sites within Adelton, ranging from 1.6 to 3.4 acres in size, with the larger properties comparable to three football fields.

East Austin to benefit from AUSTIN PLANNING COMMISSION PROPOSES NEW TOWN ZONING CATEGORY TO BOOST HOUSING DEVELOPMENT.

The Austin Planning Commission is proposing the introduction of a new zoning category called town zoning (TZ) to address the city's housing shortage. The new category would allow for mixed-use residential and commercial development with increased building heights and impervious cover. Developers would have the flexibility to modify site development and parking standards on a case-by-case basis if they commit to making at least 10% of the project's incremental increase in units affordable for low- to moderate-income households.

EAST AUSTIN SEES SURGE IN APARTMENT DEVELOPMENT WITH THREE MAJOR PROJECTS UNVEILED

In East Austin, three major apartment projects have been announced, adding to the ongoing development activity going on. Seabrook Square, the most expensive of the projects, will utilize public funds and consist of three buildings, with construction set to begin in August and conclude in October 2025. Airport Crossing and Trinsic Cesar Chavez are the other two developments, with the former scheduled for completion by February 2026 and the latter by April 2026, bringing a total of 256 and 310 apartments respectively to the area.

TRAVIS COUNTY LEADS TEXAS COUNTIES IN AIRBNB EARNINGS AS EAST AUSTIN HOSTS SEEK SUPPLEMENTAL INCOME AMID RISING COSTS

A couple in East Austin, Joe and Susan Arenella, have been successful Airbnb hosts for eight years, earning around $20,000 annually by renting out their 575-square-foot loft. They are considered "super hosts" and take pride in their modern, artistically decorated space, offering a personal touch with handwritten notes and complimentary amenities. Travis County leads Texas in Airbnb earnings, with hosts generating $72 million in 2022, followed by Harris and Dallas counties. The typical host in Austin earned about $12,500 in 2022, with most hosts sharing a single home and renting it for around 60 nights per year. Airbnb has become a popular way for hosts to supplement their income, with many using the earnings to cope with rising living expenses and inflation.

NEW LADYBIRD APARTMENT COMPLEX IN EAST AUSTIN OFFERS AFFORDABLE HOUSING TO SENIORS

The Ladybird apartment complex in East Austin is addressing the need for affordable housing for seniors by offering income-based apartments exclusively for residents aged 55 and older. The rent is determined based on income, with the lowest designation being $530 per month for those making under $23,190 annually. The complex aims to provide a comfortable and enjoyable living experience for seniors while meeting their budgetary needs.

Half a block away from our beck-reit offices CIM Group aims to raise the 145-unit apartment building in east austin

1007 and 1021 E. Seventh St., within the Plaza Saltillo Transit-Oriented Development district. CIM is asking Austin City Council to raise the maximum height to 90 feet, up from 60, which would allow the building to rise eight floors, instead of the five currently allowed.

East Austin snags more restraurnts at the Mueller

Mueller neighborhood continues to embody the live-work-play ethos that's all the rage in Austin development. The latest evidence was the announcement of new restaurant and retail tenants for the varied community north of downtown. Restaurant chains Chuy's Tex-Mex, Hopdoddy Burger Bar and Honest Mary’s, men’s salon chain Boardroom Styling Lounge and veterinary office Modern Animal will take up roughly 18,000 square feet combined in the Aldrich Street District of Mueller. More INFO

East Austin gains SnailbRook as a Neighbor - Elon Builds own Texas Town.

We are in the camp that believes Elon Musk is indeed building his own town East of Austin. Will it be a fancy little town like Georgetown, not sure about that. But does Elon have a knack for seeing what he needs and BUILDING IT? We would say that is exactly what he is good at. More employees means the need for more housing. Elon wants his employees to be able to afford the housing. SO he builds housing that is affordable for his employees. When housing is on the ground - commercial real estate follows. His Texas Utopia Town is dubbed Snailbrook. All of this is good for #EastAustin and the #TexasTriangle.

See ABJ article - The Answer is Complicated

Lennar Building Workforce Housing for Elon Boring Tunnel - 110-home subdivision

and several Wall Street Journal Articles

Over the past three years, entities tied to Mr. Musk’s companies or executives have purchased at least 3,500 acres in the Austin area, collectively about four times the size of New York’s Central Park

80-Apartment Rosewood Project Off Airport Blvd. in East Austin -Commission OKs Rezoning

The rezoning of 3117-3121 E. 12th St. and a related amendment to the Rosewood Neighborhood Plan passed through the commission May 23 in a unanimous vote. The East 12th site just off Airport Boulevard is vacant. Initial project plans call for about 80 residences situated above 1,500 sq. ft. of retail space. Article HERE

300 luxury apartments rising near Applied Materials factory East of Austin near Manor

Alta Blue Goose is rising on 17 acres at 8110 Blue Goose Road near the intersection of State Highway 130 and U.S. Highway 290. The development will be 295,933 gross square feet, with one-, two- and three-bedroom apartments ranging from 582 to 1,580 square feet. Article HERE

PRIVATE DEVELOPER PLANS TO BUILD 600-ACRE PUBLIC PARK IN EAST AUSTIN, DOUBLING THE SIZE OF ZILKER PARK

BASTROP : 348-acre mixed-use neighborhood| 1,200 homes, 125,000 square feet of commercial space - East of Austin

Homebuilders broke ground in October on the master-planned development, called Adelton, off State Highway 21 and Farm-to-Market 20. The first phase of construction will see about 90 single-family houses rise. The first phase is expected to wrap up in 2027, though full buildout could take more than a decade. Article HERE

UPDATE: MAY 2023

6 Leases Signed for 80,000 SF Of Office in East Austin at Centro

May 12, 2023 Just blocks away from Beck-Reit offices six tenants have committed to leases at a new mixed-use development Centro in Austin, Texas. This area of East Austin is being positioned as an extension of the Texas capital’s central business district. Adding to the new tenant list are Birds Barbershop, Brooklyn Dumpling Shop, Full Ride Cycling and Pure Barre, which all signed ground-floor retail deals. Check out the story HERE by Parimal Rohit.

116 acres for A goliath Mixed-Use project Planned in East Austin on Bolm Road 3 miles from Downtown Austin - Kairoi Real Estate is rezoning

May 2023, Kairoi is asking the city of Austin to rezone 115.7 acres between U.S. 183 and the river where it wants to build a mixed-use neighborhood with staggering amounts of residential and office space. The project would include 2,219 residential units and nearly 3.4 million square feet of office space, about 184,000 square feet of restaurant space, a 127,000-square-foot shopping plaza, about 20,600 square feet of strip retail and a 385-room hotel. STORY HERE

CIM Group aims to raise 145-unit apartment building at 1007 and 1021 E. Seventh St in East Austin

May 2023, It's asking to raise the maximum height to 90 feet, up from 60, which would allow the building to rise eight floors, instead of the five currently allowed. The 0.65-acre site is currently valued at $6.1 million, according to records from Travis Central Appraisal District, and is near other new multifamily developments like Corazon by Cypress Real Estate Advisors and those within Endeavor Real Estate Group's Saltillo community. And is 1 block away from Beck-Reit Commercial Offices. STORY HERE

Construction to start on Film Studio Near East Austin. Bastrop 552 project — 486,000 square feet of studio space, 300,000 square feet of warehouse/mill space and 200,000 square feet of office space

May 9, 2023 Batrop 552 Project secured unanimous approval for tweaks to a 2021 development agreement that they and city officials said moves groundbreaking closer to reality. The development team aims to break ground by the fourth quarter. STORY HERE

Work is Underway on east Austin office project co-developed by aquila commercial.

May 6, 2023, the Alto development in East Austin includes a 110,000-square-foot Class A creative office project, developed by AQUILA Commercial and institutional investors advised by J.P. Morgan Asset Management. The office project is expected to be completed in the fourth quarter of 2023 and is aimed at accommodating the city's exceptional job growth in sectors that favor modern functionality and sustainability. STORY HERE

A 50-cabin neighborhood for homeless residents in East Austin Opens May 12th - Esperanza Community.

May 2023 , located at 780 S. US 183 just north of Hwy. 71 and was originally proposed by Gov. Greg Abbott as a state-sanctioned homeless encampment. The Esperanza site is an approximately 7-acre property owned by the Texas Department of Transportation. The Other Ones Foundation, or TOOF, homeless nonprofit has since stepped in to operate and grow the shelter community. What was originally an open space covered in concrete is now home to a developing community of dozens of tiny homes that will continue to expand over the years ahead. “DeJoria, the billionaire co-founder of the Patrón tequila brand, said he achieved his success after being homeless himself earlier in life.” STORY HERE

UPDATE: April 2023

Big Win for East Austin - Mandatory parking spots for Austin bars could soon go away.

April 2023 , East Austin has been home to streets lined with Bars and Restaurants for years. This is exactly why you see many with little parking. They are “grandfathered” in. But to open a new 2000 SF Cocktail Bar today in 2023 in old office, retro retail, or cool warehouse space would require 20 parking spaces per City Code. Council approved a resolution to eliminate parking requirements for bars in April 2023. After community feedback is wrapped up a draft parking ordinance will go to City Council for a council vote on Oct. 19. STORY HERE - Interesting Fact: one surface parking space costs up to $6,000 while one parking spot in an underground garage can surpass $100,000.

plans for a 650-unit apartment project at the intersection of Highway 71 and FM 969 East of Austin

26, April, 2023 Atlanta-based developer Wood Partners bought a 26-acre parcel from Pearl River Companies and plans to finish work in the next two years. Rural area near East Austin has been focus of Elon Musk’s development ambitions. Story Here

East Austin home to many AirBNBs - Airbnb hosts in Travis County brought in $72 million in income, leading Texas for 2022

28, April, 2023 Picture a quaint loft in East Austin, about a half-mile from the Austin Convention Center and a few blocks from dozens of restaurants, breweries and some of the best barbecue in town. Story Here

3 Par Galf Course Coming to East Austin | Austin Beach Club

13 April, 2023 “Austin Beach Club is one of the latest developments planned near Tesla in Southeast Austin” exciting news of a new development in the area - a golf course and beach club just one of a rush of new developments being planned in the area known as Dog's Head, a former sand and gravel mining hub between U.S. 183 and Texas 130 in far East Austin! Stay tuned for updates on this upcoming project, which promises to be a unique addition to the East Austin community.

Cotaland & #EastAustin

5 April, 2023, Austin Amercian Statesman, Could COTA's planned theme park create a Six Flags-sized attraction in Austin? Get ready to experience a whole new level of thrill and excitement as plans are underway to add an amusement and theme park to the complex, with the first rides set to open this fall!

Cotaland, the eagerly anticipated theme park East of Austin near Tesla, will feature rides and attractions for all ages. Young children can look forward to a fun-filled experience with specially designed rides just for them, while older kids and adults can gear up for adrenaline-pumping adventures with "megacoasters" coming next year.

GREENPORT AIRPORT AND EMERALD ISLAND: AMBITIOUS EAST AUSTIN PROJECTS ENVISIONED FOR MASSIVE DEVELOPMENT

15 February, 2023 The Greenport Airport project in Bastrop County, Texas, is making progress after years of delays and rumors. The project, led by developer Carpenter & Associates Inc., aims to create a 5,000-acre "World Trade Center Austin" with a private airport, industrial campus, and technology park. With the potential for $10 billion in development, including millions of square feet of office and research space, the project could bring thousands of jobs and significant economic benefits to the region.

Texas Property Code, the law adopted by the state Legislature, where the process is spelled out for taking someone's property and effects for East Austin. To find out more read, What is “Eminent Domain”? KUT 90.5 (July 1, 2022)

Cityfund launches in Dallas, Miami and Austin. Cityfunds lets people make money off their homes without selling them, trading equity for cash or market share. See how this fund benefits East Austin Owners New Cityfunds platform allows regular people to invest in Austin’s housing market. ABJ, (08/31/21).

Don’t forget to have fun and cool off this summer. Always a good day to come Drink on The East Side of AustinCheck out 8 of Austin’s Best Mocktails. Eastside Austin Magazine.

Austin Business Journal wrote, “Here's why CRE deal volume may not see dramatic slowdown in second half of 2022.” Last week, DeLea - Queen of East Austin, shared her takeaways from the Red News August 2022 Forecast. If you haven’t read it make sure you do here.

Austin-area counties weigh in among the healthiest in the country, says U.S. News Will this continue to draw more people to the region?

When crowd-pleasers and events that shaped Austin are looking for other places to entertain. SXSW heads down under in 2023 with first festival in Sydney. How will this impact Austin in the future?

Let’s talk about all the leasing signs and spaces throughout Austin. Are you struggling to lease commercial spaces in East Austin? Beck-Reit & DeLea Becker were quoted in the most recent blog post by, “the Broker List”, providing Top Tips for a fast lease.

Having trouble accessing an article? Email office@beckreit.com for a PDF version.

UPDATE: June 2022

Elon Musk's The Boring Co. Plans Tunnel Near Tesla's New Factory in Central Texas

Musk’s The Boring Co. filed an application this week to build a private access tunnel at 12733 Tesla Road on the west side of state Highway 130 near Tesla's new electric vehicle factory in East Austin

Mueller's First Boutique Hotel Books Into Bustling Austin Neighborhood

A long-awaited boutique hotel in the heart of the Mueller neighborhood officially opened its doors on Friday, June 24. Origin Hotel Austin, the first Texas outpost for the lifestyle-focused boutique brand by Mississippi-based Thrash Group, is situated at 1825 McBee St. It's onsite restaurant, Blue Lacy, opens on Monday, June 27.

Elon Musk's SpaceX Plans Construction in Central Texas About 20 Miles Southeast of Tesla's New Austin Factory

Another one of billionaire Elon Musk's companies is scooping up real estate in Central-East Texas. SpaceX, founded by Musk, has taken ownership of nearly 47 acres on FM 1209 in Bastrop County, about 20 miles southeast from where Tesla opened its new electric vehicle factory earlier this year. SpaceX has not revealed what it intends to do with the land, but public documents show SpaceX plans to build an industrial building under code name Project Echo which is expected to be completed by March 2023.

UPDATE: MAY 2022

Habitat for Humanity to build affordable housing for Austin ISD employees, families Read more HERE.

Austin Business Journal put together a List of the Top 22 Condo Projects by size under construction in Austin - 11 (50%) are in East Austin. Click for the LIST

Pearlstone Partners LLC has secured funding for a new condominium development near East Riverside Drive just southeast of downtown

Knighthead Funding LLC, a longtime funding partner of Pearlstone Partners, has provided a $7.14 million loan to allow the developer to purchase the site for an unnamed condo project planned on a roughly 2.7 acre site at 2500 Willow Hill Dr. Read more HERE.

UPDATE: March -April 2022

Los Angeles-based Arc Capital Partners (Arc) Bought 2400 Cesar Chavez in 2019 and now Re-Branding.

Arc announced it has rebranded 2400 E Cesar Chavez to “Holly Commons,” a 67,000 square foot commercial property located in the Holly neighborhood of East Austin, TX. Read more HERE.

New Micro Apartments Headed for East Sixth Street in Austin

Watershed Development Group broke ground on Sixth and Chicon, a 60-unit project being developed at 1812-1814 E. Sixth St. in East Austin. Cadence McShane Construction Co. is building the six-story property, with work scheduled to wrap up in summer 2023. Micro units have started to find a footing in East Austin as developers look to attract renters willing to trade apartment space for a prime location at a lower price point. Read more HERE.

Two new health clinics breaking ground in eastern Travis County

Central Health will be breaking ground on two new health centers in eastern Travis County. One community health center is located in Hornsby Bend, and the other is located in Del Valle. The new community health clinics are a part of Central Health’s Equity-focused Service Delivery Strategic Plan, which is a plan to develop an equitable, more patient-focused health care system in Travis County. Read more HERE.

Hotel partner, new look revealed for Second St. skyscraper

Intracorp Texas, a division of Vancouver-based Intracorp Homes, is vying to build the tallest residential tower and hotel in the city. The developer revealed new renderings and project details on March 8th. Conrad Austin and Conrad Residences Austin will loom 750 feet over East Second Street and Trinity Street, just north of the Austin Marriott Downtown and west of the Austin Convention Center. Conrad Hotels & Resorts is a luxury brand of Hilton Worldwide Holdings Inc., the hotel partner for the project. Read more HERE.

Developers break ground on multifamily buildings near Mueller control tower

Ryan Cos. officially broke ground on an unnamed 345-unit multifamily project in the Mueller neighborhood March 3. The project will consist of two midrise—three- to five-story—buildings and approximately 2,500 square feet of ground-floor retail space located near the corner of Berkman Drive and McCurdy Street. The complexes will offer one- to three-bedroom apartments with 15% being available to families making less than 60% of the area median family income. Read more HERE.

iBorrow Provides $13.9M Acquisition Loan for Austin Office Building

iBorrow, a commercial bridge and direct lender, has provided a $13.9 million acquisition loan for an 86,910-square-foot office building located at 1200 E. Anderson Lane in North Austin. The three-story building sits on a 3.6-acre site and was fully leased at the time of the loan closing. Read more HERE.

UPDATE: February 2022

Formula 1 Renews Contract With COTA

Formula 1 and Circuit of the Americas renewed their contract until 2026. Drivers for Formula 1 and MotoGP complained of bumps in the track after races in 2021. In hopes to avoid Formula 1 signing a contract elsewhere, COTA used 3D mapping to discover the cause of the bumps in the track. COTA then added more pavement and resurfacing. Nascar also races at the track. Read more HERE.

South Austin Hotel Gets New Owner

The Wyndham Garden Inn, a 210-room hotel at 3401 S. I-35, was recently purchased by Arkansas-based Dreamliner Global Inc. It is the company’s first purchase in the Austin market. The Wyndham Garden Inn in Southeast Austin shut down in October 2020 due to finances. According to Marcus & Millichap, who represented the seller, the hotel's new owners aim to reopen "soon”. Dreamliner Global Inc is considering additional investments in the property, including possibly adding multifamily residences. Read more HERE.

American Canning Expands With New Plant and Headquarters

American Canning, a craft beverage packing manufacturer, is expanding with new headquarters and a new plant. The newly signed lease is for a 154,786 square foot facility at Park 183 in Southeast Austin. The company said the expansion is due to heightened demand for its products, stemming from craft breweries focusing more of their efforts on packaged sales. American Canning CEO David Racino told the Austin Statesman in April 2020 that orders for cans and crowlers “doubled pretty much overnight” in late March 2020, due to the COVID-19 pandemic. Read more HERE.

Conti Capital Acquires Apartment Community

Dallas-based Conti Capital recently acquired a 300-unit apartment community in Northeast Austin. The apartments, Pioneer Hill, are located at 1625 Edgeworth Bend. The seller and sales price were not disclosed. Read more HERE.

Semiconductor Company Planning Expansion to Austin

German-based semiconductor company Infineon Technologies AG filed paperwork with the City of Austin proposing “the expansion of existing semiconductor FAB-25 with associated improvements”. Infineon is keeping expansion plans confidential at this time. While many details are limited at this time, it is known that the Infineon expansion is proposed for 67 acres at 5204 E Ben White Blvd in Southeast Austin. Read more HERE.

Daryl Kunik's Vision for Big East Austin Creative Hub In Progress

Central Austin Management Group plans to build hundreds of apartments and commercial space on the east side. The development group is run by Daryl Kunik, who also developed similar projects such as Springdale General office park. Central Austin Management Group plans to develop 21 acres off U.S. Highway 183 into a mixed-use project designed to offer affordable access to both commercial and residential space. The development could offer up to 535,000 square feet of commercial space, which is about as much space as the Frost Bank Tower downtown. Read more HERE.

Tesla Adding Another Industrial Facility To Its Campus

The Tesla East Austin campus is expanding with another industrial facility. The new facility could span up to 36 acres. Tesla plans on using the facility to produce cathodes - part of a battery’s makeup - for manufacturing its own batteries. The EV and battery sector is booming globally, and with this new campus, Tesla is investing in it domestically. Tesla filed a permit with the City of Austin on February 2nd. The company has purchased over 2,500 acres in Austin. Read more HERE.

Multifamily Mid-rise Community Planned for Fifth Street

Lincoln Ventures is planning a six-story apartment community in East Austin at 2700 E Fifth Street. Construction is slated to begin this summer and could be online by summer 2024. The project will include 625 apartments, cafe, coworking office space, urban grocery store, and underground parking. 10% of the apartments are planned for affordable housing. Read more HERE.

UPDATE: January 2022

Floridays to Build New 276-Room Hotel in East Austin

Floridays Development is slated to build a 276-room hotel in East Austin. Designed by FK Architecture, the hotel will include a pool and an 89,123 square foot parking garage. A completion date is not known, but demo work has begun at the site. Read more HERE.

Venture Buys Eastlake at Tillery Campus

Eastlake at Tillery, a new two-building office complex that was one of the top leases of the third quarter in Austin, has sold. An affiliate of Walton Street Capital bought the 176,696 square feet campus through a partnership with Cypress Real Estate Advisors. Price and terms were not disclosed. Eastlake at Tillery is 77% leased to two tenants Canva and Skyworks. Read more HERE.

The Pitch Opening in February

The Pitch, a sports and entertainment complex near the Q2 Stadium, is set to open in February. The Pitch is within the 50-acre Parmer Pond District. It will include a 1,200 seat stadium for sports watching, concerts, and movie nights. The Pitch will also include food and beverage offerings. Read more HERE.

Mixed-Use Project in East Austin Breaks Ground

Austin-based real estate firm Sabot Development broke ground on their project, the Goodwin Apartments. The development will bring 364 apartments and 5,000 square feet of commercial space to East Austin. 10% of the apartments are reserved for affordable housing. Read more HERE.

Tesla Has Started Model Y Production at Austin Factory

Tesla confirmed they started to produce vehicles at their Austin factory in late 2021. Tesla is planning on also producing its Cybertruck, Semi, and Model 3 sedan vehicles at the Austin factory. Elon Musk has said he drives the Cybertruck around the Austin site. Read more HERE.

$500 Million Southeast Austin Development for 2,500 Homes, 1,500 Multifamily Units, and Commercial Space

Houston-based Developer Hines, also an international real estate firm, plans on building over 2,500 homes and 1,500 multifamily units in Southeast Austin. Hines is also planning on building retail and other commercial spaces on 75 acres. The project is projected to cost over $500 million. Hines closed on the sale of the 1,400 acre site for the project, which they are calling Mirador. The site is south of Texas 71, near Texas 130 tollroad. Construction is expected to begin later in 2022. Purchase price was not disclosed. Read more HERE.

Six-Story Office Building Could Rise on Site of East Austin Coffee Store

The Austin Planning Commission will consider a rezoning request for a six-story office building at 1400 E Fourth St. Texas Coffee Traders is currently at the 0.99-acre property. Stream Realty Partners is proposing a mid-rise office building with ground-floor restaurant and underground parking. Stream is also proposing to change the maximum building height allowed, from 40 to 85 feet. If approved, the zoning change would require a fee-in-lieu payment to the Housing Assistance Fund. Read more HERE.

Beck-Reit Sold East Austin Hotel For Price Over Asking

Beck-Reit sold boutique hotel, The Cat Noir Hotel, after a bidding war drove the price up over asking. The listing was picked up by a local hotel group looking to expand their Austin holdings and take advantage of “revenge travel” in 2022. The hotel was designed by Dick Clark + Associates and completed construction in April 2016. Read more HERE.

Teacher Retirement System of Texas Buys Austin Building for New HQ

Teacher Retirement System of Texas (TRS) is moving to Mueller. It bought a soon to be completed office building in Mueller to be used as its headquarters. The building at 1900 Aldrich Street is 236,000 square feet and six stories tall. The retirement system completed the deal with Shorenstein Properties. TRS is expected to start relocating to the new building in spring 2023. Read more HERE.

Update: December 2021

$77 Million for World Class-owned Site Across from Austin Convention Center

Washington, D.C.-based private real estate firm Carr Properties is on target to acquire prime downtown Austin real estate for $77 million, according to court documents filed December 6th. The sale could become one of the most expensive land sales in Austin history, measured by price per square foot. The deal comes as owner World Class Holdings faces financial and legal issues. The property is nearly one acre and is across from the Austin Convention Center at 99 Trinity St. JLL represented World Class Holdings in the deal, and recieved 19 offers from buyers. Read more HERE.

Tesla Moves HQ to Austin

A filing with the Securities and Exchange Commission confirms that Tesla has relocated its corporate headquarters to Austin. On December 1st, Tesla changed its corporate address to 13101 Harold Green Road in East Austin. How much office space it will build is still up for question. Tesla is expected to bring 5,000 jobs to Austin. Read more HERE.

Easton Park Growing with More Houses and Apartments

Easton Park is expanding with a 300-unit apartment building. Civil engineering firm Consort submitted the plans to the city. Developers also submitted plans for 200 new single-family homes on lots currently slated for condominiums. Commercial development in the area has been growing rapidly. A CVS, McDonalds, car wash, and Summer Moon Coffee are all set to open around Easton Park. Read more HERE.

Nexus East, A Luxury Multifamily Community, SOLD

Nexus East, a new 352-unit luxury multifamily community, sold to an affiliate of Treeline Multifamily Partners. Newmark helped secure acquisition financing for the buyer. “Investors were intrigued by Nexus East’s location in the heart of East Austin, surrounded by some of our city’s best recreation and restaurants,” said Newmark’s Patton Jones. Read more HERE.

Canadian Investor Buys Spectra Parks, East Austin Apartment Community

Toronto-based Prism Multifamily Group bought Spectra Parks, a 324-apartment community, at 5301 Decker Lane. “Explosive demand among Austin professionals seeking employment” was the driver behind the investment. Spectra Parks is 65% occupied and 80% leased. The deal was Prism’s first in Texas. Read more HERE.

Austin Developer Plans $80 Million Office/Condo Project

Austin Developer Storybuilt started construction on an $80 million mixed-use project in East Austin. The project, named Ellie May, will comprise 76,500 square feet of office space, a restaurant, and 84 condos. The location is at 755 Springdale Road. Read more HERE.

Master-Planned Goodnight Ranch Continues to Grow

Austin City Council approved a planned unit development that will allow Goodnight Ranch to grow twice as big as originally planned. Goodnight Ranch will eventually have 6,300 homes, and commercial space will grow to 730,000 square feet. If it continues to expand to 6,500 homes, Goodnight Ranch could become the largest master-planned communities under development in Austin metro. Read more HERE.

New 300-Unit Luxury Apartments in East Austin

Wood Partners LLC started construction on a 300-unit luxury apartment community named Alta Blue Goose in East Austin. Amenities include a dog park, resort-style pool, fitness center, and coworking spaces. Alta Blue Goose is located at 9900 US HWY 290 E. Read more HERE.

Houston developer to build first apartment building at Whisper Valley in East Austin

Allied Orion Group is planning The Evergreen at Whisper Valley, a proposed 350-unit, garden-style project to be located about 15 miles northeast of downtown Austin in Manor. Whisper Valley does not currently have multifamily options. Tenants would be close to the new Tesla gigafactory campus, Samsung and Amazon. There is currently no construction timeline available. Read more HERE

UPDATE: NOVEMBER 2021

Condos and Retail coming to Mueller

Developer Austin Lofts is about to start construction at Mueller’s north side- building condos, townhomes, and retail commercial space. The new space will complete the southeast block at 51st street and Mueller Boulevard. Six of the condos will be reserved as affordable housing. Read more HERE.

Update: OCTOBER 2021

Another office project is in the works in rapidly growing East Austin

The project is named 1515 Cesar Chavez, after its address. The building will have 71,632 square feet of office space, a contemporary design and underground parking, according to the developer. The site is about four blocks from Plaza Saltillo Station, which is a Capital Metro rail stop at East Fifth and Comal streets.

The office project is expected to be ready for tenants in August 2022. The developer is Austin-based Pennybacker Capital, partnering with Lost Herd Enterprises in Austin. Read more HERE

Office redevelopment at Fair Market site secures first rezoning vote

plans are in the works to replace the Fair Market event venue at 1108 E. Fifth St. with a six-story office building with ground-floor retail. The development team wants a zoning change for the building, which is just south of a designated “activity corridor” along Seventh Street, in order to build 85 feet high instead of 60. Council on Aug. 26 gave initial approval to the rezoning. A second-reading vote is expected Sept. 30. It would be the latest step in the evolution of the east side, once the center of the city's African American community and now a rapidly gentrifying area home to towering hotels and offices. Read more HERE

Update: SEPTEMBER 2021

Skyworks gobbles up half of new East Austin office campus, sources say

Calif. company just acquired division of Silicon Labs for $2.75B

Skyworks Solutions, a semiconductor company based in California, just completed the $2.75 billion acquisition of a division of Austin-based Silicon Labs. But it isn't done doing deals in the Texas capital. According to multiple sources, it just leased about half of a brand new office campus off Cesar Chavez Street. Read More HERE

East Austin H-E-B-anchored shopping center changes hands

A shopping center anchored by an H-E-B grocery store near the intersection of U.S. Highways 183 and 290 has changed hands. Springdale Shopping Center at 7112 Ed Bluestein Blvd. in Austin was sold on Sept. 20. The deal was announced by brokers at JLL. The fully leased 163,145-square-foot retail center, which also has Dollar Tree, KFC, O’Reilly Auto Parts, Ross Dress for Less, Subway and Wingstop as tenants, was sold to Edens Inc. It is Edens' first acquisition in Austin. The sale price was not disclosed. Read more HERE

Dalfen Plans 1M SF Industrial Park in NE Austin

Dalfen Industrial recently acquired 146 acres in Austin. The firm plans to develop a six-building industrial park totaling more than 1 million square feet. “This development is strategically located at the US-130 and US-290 intersection which provides direct access in and out of Austin, with continued population growth and strong demand drivers,” said Tyler McElroy, director of development and construction at Dalfen Industrial. Including this project, Dalfen Industrial is in the process of developing 2.2 million square feet of Austin industrial properties. Read more HERE

Teacher Retirement System’s board approves massive HQ relocation plan

A plan to move the Teacher Retirement System of Texas headquarters from downtown Austin to the Mueller mixed-use community was unanimously approved Sept. 17 by the organization’s board of trustees. The multibillion-dollar pension fund manager announced plans in August to shift operations from 1000 Red River St. to 457,000 square feet across two buildings at 1900 Aldrich St. in Mueller, a mixed-use community at Austin’s former airport, a few miles northeast of the Central Business District. “I believe it is prudent to make this move now and take advantage of returns from Austin’s booming commercial real estate market,” TRS Executive Director Brian Guthrie said in a statement. TRS is one of the largest pension funds in the nation. Its market value on June 30 was $193.1 billion. The pension fund serves about 1.7 million Texans. Read more HERE

Cumby Group to Add 800 Multifamily Units, 150,000 SF of Commercial Space to East Austin Supply

Local developer Cumby Group new project will redevelop a site on Manor Road in East Austin with three adjacent projects that will in total add more than 800 multifamily units, including 80 affordable housing residences, and 150,000 square feet of commercial space to the local supply. Cumby Group acquired the sites, which span nine acres and a little more than a full city block, in 2019 and 2020. Construction is underway on The Emma, a 146-unit project at 3219 Manor Road, and two buildings housing somewhere between 450 and 500 units, along with commercial space, are planned next door at 3115 Manor Road. Lastly, Cumby expects to build about 200 units at 3033 Manor Road. The projects will include space for neighborhood gatherings that could feature food trucks or farmers markets. The development’s affordable housing units will be reserved for renters earning 60 percent or less of the area median income. Read more HERE

Two women-owned residential development firms, are collaborating to bring more than 100 new affordable housing units to Austin.

Two projects currently under development, Saison North and June West, will bring nearly 200 multifamily units to North Austin, the majority of which will be priced below market rate. The two developers have partnered on several other affordable apartment communities in the Austin area, including La Madrid Apartments and Art at Bratton’s Edge. Saison North will be a 116-unit apartment building at 10010 N. Capital of Texas Hwy. Of the 116 units, 82 will be reserved for people earning 30%, 50% or 60% median area income, which in Travis County is $98,900 for a four-person household. The rest will be market rate. The project received financial support from the Texas Department of Housing and Community Affairs in the form of a $1.5 million tax credit, which will help subsidize the affordable units. Lasch said they hope to have a construction permit by the end of the year in order to start construction at the beginning of 2022. She said construction should take about 18 months. Read More HERE

Update: AUGUST 2021

Austin to negotiate with Greystar to redevelop vacant St. John site.

The East Austin 19 acre I-35 frontage property which comprises a former Home Depot and a former Chrysler dealership. The transformation of this part of North Austin has long been anticipated by city officials and community members. Greystar Real Estate Partners is in the driver's seat to redevelop the city-owned St. John site in North Austin. Mayor Steve Adler said at the work session that this item "clearly is going to pass" and expects Council to have a brief discussion on the matter July 29. Greystar's proposal includes two buildings with a total of 560 housing units — a mixture of studio, one-bed, two-bed and three-bed layouts — half of which would be income-restricted affordable units. The developer is also proposing 15,000 square feet of commercial space for retail and community services. The goal is to have the first units complete by 2024 and for the project to be finished by 2025. Greystar Real Estate Partners last year ranked as the No. 2 multifamily developer in the Austin area with more than 1,650 units under construction or delivered in 2020. Read more Here

Tishman Speyer Buys Second Building at 240,000 SF Foundry Office Complex in Austin

AUSTIN, TEXAS — New York City-based investment and development firm Tishman Speyer has purchased Building II at The Foundry, a 240,000-square-foot office complex in Austin. The two-building complex was 96 percent leased at the time of sale and offers amenities such as fitness centers, bike storage spaces and outdoor terraces. Earlier this year, Tishman Speyer closed on the Foundry I building, which finished construction in 2019. At the time, the company announced that the follow-up acquisition of Foundry II would be executed once construction was completed. Cushman & Wakefield represented the seller, Cielo Property Group, in the sale of The Foundry. CBRE leases the property. Read more Here

Update: July 2021

Cypress Real Estate Nears Completion of 172,000 SF Office Project in East Austin

Developer Cypress Real Estate Advisors has completed shell construction at Eastlake at Tillery, a two-building, 172,000-square-foot office project in East Austin. The development at the corner of East Cesar Chavez Street and Tillery streets is now ready for tenant build-outs. AQUILA Commercial has been tapped to lease Eastlake at Tillery. Construction of the building, which offers amenities such as a prep kitchen, fitness center with locker rooms and multiple outdoor workspaces. As we see these large developed properties get finished in East Austin, We will see more and more large vertical development come right along with it. Read more Here

Analysis: Texas is top destination, by far, for HQs leaving California

It’s not even close. Texas stands high above all other states in the race to attract corporate headquarters exiting California, with Dallas-Fort Worth and Austin topping the list of destinations within the Lone Star State. That’s according to a new analysis shared only with the Dallas Business Journal.

California lost 53 headquarters to other states between Jan. 1 and June 27 of this year, and 23 of those companies went to Texas, according to business relocation expert Joe Vranich, president of McKinney-based site-selection consulting firm Spectrum Location Services, which tracks corporate headquarters moves.

That's 43.4% to Texas so far this year, and 56.6% shared between the other 48 states.

Read up on the full story Here

Job Postings For Elon Musk's Boring Co. Highlight Technology Development Plans, Site In Bastrop

Elon Musk's tunneling startup, The Boring Company, has been quietly planning in Central Texas for months. Now more details have been shared about what the company is planning.

The Boring Co. was hiring for 20 positions in the Austin area by the time of this write-up, and a few job descriptions outlined future development plans for an autonomous tunnel boring machine. One posting also mentioned the company's research and development site in Bastrop. Some real estate experts have speculated that Musk may be planning a tunnel from the Tesla site to Austin-Bergstrom International Airport. Or the company could be planning to connect all of the Tesla-owned land east of Austin. However, no property records could be found with Bastrop Central Appraisal District or Bastrop County. Read up on the full story Here

After Peaking In Q4, Austin Sublease Market Expected To Dry Up'

The downtown office market’s vacancy rate has risen to 15.8% compared to 7.22% a year ago, according to the CoStar analysts. Net absorption, or the difference between tenants moving into and out of space, stands at negative 228,000 square feet in the past year, meaning there is excess space in the market, according to Costar analysts. The market could see vacancies slowly rise again as the downtown office market currently has about 3 million square feet of space under construction, representing about 20% of downtown's inventory.

The interest from out-of-state investors is still strong because of the solid underlying fundamentals in Austin’s real estate market, such as continued expansion among technology firms, corporate relocations plus robust population growth. Rents downtown have only fallen 1% in the past year to $54.76 per square foot despite the pandemic’s recession, according to CoStar data.

Austin is seen as a “boom market” in the Urban Land Institute’s "Emerging Trends in Real Estate" report this year, ranking No. 2 in the country for overall real estate prospects and investor demand in 2021. Read up on the full story Here

Update: June 2021

Jay Paul Co. 872k-square-foot office park coming to East Austin.

Since breaking ground in December Jay Paul Co has been building one of the most ambitious projects East Austin has ever seen. A rezoning request to establish the Springdale Green Planned Unit Development, or PUD, passed Austin City Council in a unanimous vote June 10, clearing the way for a project that could bring new 90-foot office towers to the East Austin skyline.

Many say this will spur more vertical development in the area as Austin’s market continues to soar. The 872,000 square-foot property will contain amenities such as an 18,000 square-foot conference space with an outdoor patio, Along with a 23,000 square-foot fitness center which all campus employees will have access to along with a jogging loop, nature trails, and much more. "Springdale Green represents a new type of office campus integrated within the fabric of the neighborhood, offering unique outdoor spaces that promote productivity, health and wellbeing," Janette D'Elia, chief operating officer at Jay Paul Co., said in a statement. Read up on the full story Here

Dog’s Head keeps inching closer to development in East Austin

House Bill 4650 —creates the East Central Travis County Conservation and Reclamation District No. 1 across 2,100 acres in the Dog's Head, located just east of the U.S. Highway 183 — became law June 15.

Endeavor Real Estate group, who developed the domain and southpark meadows now say the firm was helping landowning families “figure out what's next” told by endeavors own Andy Pastor. The Dog’s Head has had a previous life being used for mining but as the resources run out, the real estate runs in. As Tesla's GigaFactory is currently being built just north, that only creates more interest for those looking into the area. Read up on the full story Here

Tesla joins forces with ACC

As Tesla prepares to occupy their new Austin footprint, they have partnered up with Austin Community College to fill 5,000 newly opened positions. Students can now take a 14-week program where they will learn to design , build, and maintain Tesla’s Tech. "When business and education come together, we build connections that make college affordable and link students directly with employers so they can go straight into a promising career." said ACC chancellor Richard Rhodes. Read up on the full story here Here

KORE Power, Lithium-Ion Battery Manufacturer, Names Austin as Potential Factory Site

Idaho based battery developer KORE Power is set to announce the location of the first US-owned Lithium-Ion battery production plant, and Austin is on their short list! The proposed plant would have up to 12 Gigawatt hours of battery cell production capacity, in an effort to further the companies mission to diversify battery supply chains in the US. The site itself would require 3,000 high-paying positions to be filed, but the company says their new factory would generate over 10,000 direct and indirect jobs in the selected region. Given the synergy that could arise from proximity to both Tesla and Samsung, Austin holds a top-spot in the competition. Read up on the full story here while we look forward to KORE’s final announcement!

EastVillage, a Massive Mixed-Use Development, Set to Break Ground Early June

EastVillage, a project we’ve been following for a while now, is set to break ground this month. The development will add thousands of homes, three hotels, a central park, and grocery store to its 425 acre site over the next several years. By project completion, slated for 2028, the development will have transformed the East Parmer Lane area across from Samsung’s site. Read up on the full story here.

Centro Development Looks to Add Office Space to East Austin

Central East Austin is getting another massive mixed-use development. Centro is set to break ground on the first phase of their Mixed-Use Development in early 2022. The site, located at 1412 E. 5th St, will play host to over 160,000 sqft of new class A office space. Read up on the full development here.

1201 Cesar Chavez SOLD July 2021 after 3 Year Renovation

Update: May 2021

Austin’s Community First! Village Plans Multi-Year Expansion to Help Austin’s Unhoused

Since 2015, Community First! Village has become a thriving tiny-home community now home to over 200 people transitioning out of chronic homelessness. The project’s initial phase is nearing maximum occupancy, but an ambitious second phase of development, tentatively planned for a Winter ‘22 completion, would allow the far-East Austin site to expand their services to over 500 formerly homeless individuals: a figure that represents nearly a third of the chronically homeless population living on the streets of Austin today. Beck-Reit has been a long-time supporter of Mobile Loaves and Fishes, the non-profit behind Community First! They continue to do incredible work with Austin’s homeless community - read up on Phase II expansion here.

Samsung Affiliate Plans $673 Million Solar Farm in Central TX

Since the #WinterStorm21 disaster, a spotlight has been shined on Texas’ energy shortcomings, vulnerabilities, and future plans. According to documents filed with the Texas comptroller, Samsung has negotiated Chapter 313 agreements with Milam County school districts for solar energy farms. The total investment could be $673 million and encompass over 11 square miles outside of Austin. Samsung's project would have the capacity to generate about 700 megawatts of electricity and could encompass more than 6,800 acres of farmland in northern Milam County, about an hour North East of Austin. Construction of the solar plants could start in June 2022, and the company plans to be operational by December 2023, according to the filings. Read up on the full story here.

Mueller Multi-Family Development Continues

Ryan Companies US Inc. is expected to start construction on another 350-unit apartment building in the Mueller development. The project is slated to break ground in Q4 of ‘21 and will allow visitors to see the locally-iconic Lake Flato designed control tower that still remains from the old airport.

City of Austin Evaluating 6 Plans to Re-Develop 19-Acre St. John’s Site in East Austin

The defunct Home Depot // Chrysler Automotive Site was purchased by the City in 2008 and 2013, respectively. Originally set to be a new courthouse and police substation, the project was tabled after strong local pushback from the surrounding neighborhood. Since, the location has long been a contested site for potential development. A July 2020 resolution approved by the City finalized the mixed-use redevelopment requirements, which emphasize affordable housing, green space and community-oriented retail. Backyard Biceps, The Geyser Group, Greystar Development Central LLC, KMA Cos., McCormack Baron Salazar Inc. and Pennrose LLC are just a few of the developers still in the running for the City’s award of the project. Read up on the full story here.

City Records Show Tesla Planning Another Industrial Facility Near East Austin Gigafactory Site

Although Austin’s hottest business transplant declined to comment on the City of Austin’s permitting records, it’s no surprise another facility is in the works given Tesla’s massive 2,500 acre East Austin land holdings. According to the City filings and development restrictions in the area, the facility could sit on anywhere from 100-150 acres, including facilities, driveways, sidewalks, roadways, parking, etc. Speculation continues as to what else Musk could be planning on this massive tract. He’s said publicly the Gigafactory alone will need up to 10,000 employees by the end of 2022. As of the Austin Business Journals reporting, another 270 jobs had been posted in Austin. Read up on the full story here.

Update: April 2021

TruAmerica Makes First Austin Investment, Purchases Ellie Apartments

The Los Angeles based apartment builder/renovator behemoth has picked up its second holding in the State, the Ellie Apartments near Oracle’s campus in East Riverside. The 344-unit multifamily complex is home to single and double bedroom units, and includes amenities like a pool and gym. Who’s to say what TruAmerica’s plans for the site are, but everyone knows Austin needs more housing, especially in the East!

Is SpaceX Moving to East Austin?

Rumors are swirling around Tesla’s holding on the Southwest Side of State Highway 130, across from the quickly growing Gigafactory site. It’s no secret Tesla CEO Elon Musk wants to move some of his SpaceX operations to Texas - recent job postings confirm he’s looking for a project manager. Still, no one knows where the site will ultimately land. No permits have been filed with the City concerning this tract, but with all the activity around the Gigafactory we won’t be surprised to see some big announcements soon. Read up on the full story here.

ATX: America’s Hottest Real Estate Market in 2021

A new national CBRE survey found Austin, TX to be the #1 location for commercial real estate investment prospects for 2021, overtaking Los Angeles for the coveted spot. It’s the first time in history that larger investors have come to favor smaller markets like Austin and Phoenix over metropolises like New York City and Los Angeles. The survey wasn’t specific to East Austin, but we know this tidal wave will lift boats throughout the city - especially towards the East, where new development is more feasible. Read up on the full story here.

Tesla is Ramping Up Hiring in East Austin

Austin’s newest hype-man Elon Musk made news recently when he tweeted, “Over 10,000 people are needed for Giga Texas just through 2022!”. If true, this would mean Tesla could double the number of jobs initially promised to the area when the Gigafactory was first announced last July. What does 10,000 more jobs in East Austin mean for the housing and commercial real estate market? You tell me! But it can’t be bad… read up on the full article here.

Austin Remains at the Top of US Labor Market

Companies are flocking to Central Texas in the wake of the COVID-19 pandemic. In the past two weeks alone, over 15,500 job openings were added to Indeed.com in the Austin metro area. Driven by big national names like Tesla and Amazon, alongside local powerhouses like H-E-B and Whole Foods, Austin is simply on fire - which means real estate values are only going up. Read the full story here.

UPDATE: MARCH 2021

Austin Prepares for $300 Million Dollar Investment in Affordable Housing over the next 13 Years

It’s no secret housing prices have been on the rise nationally over the course of the pandemic. Shortages in affordable housing are especially visible in high-dollar markets like Austin, where high rates of relocation from the coasts have put upward pressure on housing prices. As part of Austin’s plan to tackle the issue, the Austin Transit Partnership Board of Directors approved a $300 million grant agreement with the city of Austin on March 17 to prioritize affordable housing and anti-displacement efforts during Project Connect's 13-year timeline. Affordable housing developments that stand to benefit will likely find their way further East, where some of the only cheap, developable land still exists within the Austin metro area. Read up on the full story here.

New Bill Would Allow Tesla to Sell Direct to Consumer

In Texas, third-party retailers dominate the car market - in large part because of existing law prohibiting car manufacturers from selling directly to consumers. A new bill might change this dynamic, however for electric-car manufacturers the state hopes to encourage and support. This is big news for Tesla, the biggest brand standing to benefit, especially in light of their new East Austin Gigafactory, which very well may house it's own dealership when everything is said and done. Read the full story here.

Parkside at Mueller will Add 200 Condo Units to Eastside Neighborhood

The development will break ground soon at1701 Simond Avenue, in the Aldrich Street District in the Mueller neighborhood in Northeast Austin. Should everything go according to schedule, the project will be completed mid-2023, hopefully helping to alleviate Austin’s searching demand for housing. Read up on the development here.

Urban East Development Chooses Apartments Over Office Space

The pandemic has shuffled everyone’s priorities, including the Urban East Development. Originally planning to include over 100,000 sq ft of office space and 20,000 sq ft of retail, developers got cold feet as the pandemic dragged on. Now, they’ve decided to ditch the office space in favor of a completely multi-family development, with over 500 units and 50% affordable housing. Read up on the full story and what it may mean for the post-pandemic market here.

UPDATE: FEBRUARY 2021

“Austin, Texas will be the biggest boomtown America has seen in 50 years” - Elon Musk

Don’t believe him? Just keep scrolling. Austin development, particularly on the East Side, simply will not stop. Read Elon’s full remarks here.

More Multi-Family is Coming to East Riverside

Canyon Partners Real Estate LLC formed a joint venture with Cypress Real Estate Advisors, Inc. for the ground-up development of a 263-unit, mid-rise multifamily community in Austin. Canyon invested $23.9 million of equity in the project, which is located in a qualified opportunity zone, and broke ground in December 2020. The development will help fill a rising demand for housing near new employment hubs on the East Side driven by Oracle’s new campus and Tesla’s Gigafactory. Read up on the full story here.

Major NY Developer Tishman Speyer Has Bought into East Austin

The NY-based investment firm has bought into both the first and second phase of Foundry, a new development which will ultimately boast over 240,000 sq ft of office space in East Austin. This news is huge, as it signals larger investors are eyeing the Lone Star’s Capital. Foundry I and II will be Tishman Speyer’s first Austin investment, despite already operating in 28 markets across the United States, Asia, Europe and Latin America. Read up on the full story here.

Applied Materials Expands their Austin Holdings

California-based semi-conductor supplier Applied Materials is expanding their already sizable Austin footprint with a new 700,000 + sq. ft. warehouse development in East Austin. The project will cost $75 million, and is set to be built next to their current campus along Highway 290 East. Expected in February 2022, this project is just the next in a long list of Central Texas industrial developments from the likes of Tesla, Amazon, and Samsung.

EastVillage Development Announced!

The 425-acre mixed-use development spearheaded by Buffalo-based Reger Holdings is appraised at just over $1 Billion dollars. The project, located along the Parmer Lane tech corridor in North-East Austin, will boast 800,000 sq ft of office space, 300,000 sq ft for retail and restaurant, 3 hotels, 2,000 multi-family units and a 1.5 acre “village green” for community-building events. A construction timeline has yet to be released. Get all of the announcement details and keep up with this developing story via Texas Real Estate Business Newsletter HERE.

Housing Developments Continue to Flourish in East Austin with Riverside Farms

Ashton Gray Development’s newest project Riverside Farms is working through the permitting process in the hopes of providing 44 units of multi-family town homes, condominiums, and duplexes to Austin’s East Side. Located at 5107 East Riverside Dr. Riverside Farms is one of several new developments aiming to bring more housing stock to the East Side, which has experienced unprecedented growth with no signs of stopping. Read up on the new housing development HERE.

PREP ATX Makes its NE Austin Landfall April 2021

PREP ATX, a 55,000 square foot ghost kitchen facility is set to open at 1300 E. Anderson Lane April 2021. The facility will house 42 private kitchens, 16 shared kitchen stations, and another 16 spaces for food truck parking and servicing. The business model looks to help restaurant and other culinary start-ups accelerate growth in Texas. This after some resounding success in Atlanta, where they’ve helped launch and expand over 550 culinary business and currently have over 230 member companies. Read up on this new East Austin development and their novel business HERE.

Update: January 2021

SAMSUNG + $10 BILLION + TESLA

Just think about that for a minute!

We know that Samsung is looking to build $10 Billion advanced logic chipmaking plant. Austin Statesman reports they have bought 7 tracts to total 257 Acres East of I-35 = EAST AUSTIN. Then more great news = “Tesla has reportedly partnered with Samsung on a new 5nm chip for full self-driving, according to a new report coming from Korea. “ See the articles we selected to piece it together: Austin Statesman & electrik

Update: December 2020

Jay Paul, famed California developer, Eyes First Texas Project - in East Austin!

Jay Paul Co. built their reputation in the Bay Area of San Francisco. Now, they’re breaking ground on a new 800,000 square foot office project in East Austin dubbed “Springdale Green”. The project is spread across two towers, aggregating more square footage than any other office project in the city. Read up on the new development near the intersection of Springdale and Airport here.

Pearlstone Developers Complete Construction on East Austin Condo’s

and Beck-Reit Commercial Real Estate helped broker the deal! Back in 2017, BRCRE sold this tract to Pearlstone for this project. Now, the condo’s are 40% sold and expected to sell out by the end of the year! Read up on the full development here.

Dropbox CEO Drew Houston plans full time move to Austin

Dropbox’s CEO is just the latest Silicon Valley mogul to abandon California for the Lone Star - joining the likes of tech giant Palantir’s Joe Lonsdale and Tesla’s Elon Musk in betting on Texas for the future of their firms. What does this mean for Dropbox and Texas’ tech boom? Read up on the full story here.

Capital Commercial Investments Inc. Announces plans Bergstrom Technology Park

The 195 acre build-to-suit development has proximity to both the Austin Airport and forthcoming Tesla giga-factory, as CCI hopes to cash in on increased demand in SE Austin ahead of Tesla’s arrival. The park will eventually house several interconnected Bergstrom Tech Centers - turnkey buildings with a layout comprised of 85% open offices and 15% private offices. Read up on the full story here.

Recent Filings Show Tesla Plans to Produce More than Just Cars in Austin

Filings with the State of Texas show Tesla plans not only to produce its Cyber Truck, Model 3, and Model Y at the new Austin Giga-Factory, but to produce its coveted batteries as well! Read up on the full story here.

UPDATE: November 2020

BUILDING BOOM CONTINUES DESPITE PANDEMIC

As Tesla continues construction on their 2,100 acre, 5 Million square foot Gigafactory, the East Austin development boom shows no sign of stopping. With an initial 5,000 jobs expected in the area thanks to Tesla, developers are rushing to capitalize on the new economic hub. Despite uncertainty surrounding the pandemic, and strong voices speculating our need for space will decrease in the brave new post-pandemic, work-from-home world, investors aren’t batting an eye. Read up on the history of East Austin development now 20 years in the making, along with a snapshot of the biggest projects currently under construction here.

Circuit of the Americas Rezoning Could Spur Massive Mixed-Use Developments

The City of Austin has just approved the first reading of a re-zoning request submitted by the Circuit of the Americas regarding a nearby 1,155 acre tract of land. Talks continue, but if the new zoning ultimately takes effect, this tract will be primed for major mixed-use developments surrounding the racetrack - including an 11-story hotel currently planned. Read up on COTA’s plan here.

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TESLA’S SITE PLAN GOES PUBLIC - REVEALS TRUE FOOTPRINT OF GIGAFACTORY

The document reveals plans for a 7.9 million square foot factory, but what’s most notable may be what’s left out. Only around 280 acres of the 2,100 acre tract are spoken for. What will Tesla do with the remaining 1,800 some odd acres? Surely Elon’s got a plan - read up on the speculation, and the true extent of Tesla’s ultimate Austin footprint here.

TESLA FACTORY SPURS NEW HOMEBUILDING IN NEARBY Whisper Valley Development

Whisper Valley, a 2,000 acre master-planned community in Manor has already seen sales to new, “Tesla Families” relocating to be near the new Gigafactory. Over the next 15 years, Whisper Valley expects to boast 5,000 new homes, 2,500 new apartments, and a variety of restaurants, retail, and entertainment mixed use facilities. Read up on Manor’s accelerating growth here.

Something Big May be happening with Amazon in Austin…

Amazon plans to start selling prescription drugs via their new Amazon Pharmacy. Recent research from Costar shows the new Amazon Pharmacy corporate address is in Austin, Texas, at an industrial park purchased over summer by San Francisco-based Stockbridge Capital Group and an undisclosed buyer. Does this mean a new corporate headquarters for Amazon in Austin? Only time can tell.

Tesla Commits to Austin, Texas

Well, folks - it’s finally official. Tesla’s new “Gigafactory” is set to occupy 2,000 acres just 15 minutes east of Downtown. The factory will build Tesla’s new Cybertruck as well as the Model Y and Model 3. Musk also confirmed the factory will be open to the public, and described the future site as, “an ecological paradise” with a boardwalk and hike and bike trail. Read the full story here.

Office Leasing in East Austin is about to get even more Competitive

Approved projects along East Cesar Chavez (Eastbound, East Lake at Tillery, Red Bluff Development) are all set to break ground within a half mile of each other. Collectively, they’ll add more than 645,000 square feet of leasable office space to East Austin. Can the market maintain current asking prices with this influx of new supply? Read more here.

Newly Proposed Hotel would be Biggest Yet in East Austin

Two Florida-based developers intend to build a five story, 280 room, 164,372 square foot hotel on 2.2 acres at the southwest corner of East Fifth and Robert T. Martinez Jr. street. If approved, this will be the biggest hotel development east of I-35 yet. More details available here.

Aspen Heights Partners Begins Work on Apartment Community in Austin’s East Riverside

The student-housing developer is planning a 323-unit apartment complex in the East Riverside area of Austin, with close proximity to Oracle’s new campus. Read more on the proposed development here.

Proposed Mixed-Use Development Velocity Grows Even Larger

Originally clocking in at 5.5 million square feet of office, retail, apartment, and industrial space, Velocity developers announced on June 15th that the project would now include an additional 1.5 million square feet for a total of 7 million across the development’s 314 acre footprint near Austin-Bergstrom Airport. Read up on South East Austin’s newest major development here.

Starwood Plans 342-Unit Development in East Austin Opportunity Zone

The Miami-based Starwood Capital Group announced last Summer that they would complete a 342-unit apartment complex in East Austin on 23 acres at 500 US 183 S. Despite shooting for project completion by Spring 2020, a lack of recent news leads us to expect the project has been delayed. See the original announcement here.

Big Colony Park Project: Austin’s Largest Development Since Mueller Moves Forward

Catellus Development Corp, the masterminds behind Austin’s Mueller Development, are set to embark on their new project - Big Colony Park, the largest development of City land since Catellus’s last project, the Mueller Community. Colony Park with be situated on a 208 acre tract of land in North East Austin near Decker and Loyola lanes. The master plan approved in 2014 allows for up to 960,000 square feet of commercial space along with 3,031 housing units. Read up on the progress of this monumental development here.

It’s Official: Go Daddy is Closing its Austin Offices

Despite promises not to lay off employees back in April, as of late June Go Daddy has decided to close its Austin offices and terminate 331 associated sales jobs. Read up on the decision to focus on sales teams in Arizona here.

Hawthorne at the District: East Riverside Benefits from Oracle Proximity

Oracle’s has already begun a massive 420,000 square foot expansion to their new East Austin campus, with room for an additional 10,000 employees. Movement like that has caught the attention of Wildhorn Capital, an Austin-based multi-family investment outlet. They’ve recently purchased the nearby Hawthorne at the District, a 284 unit complex. Read up on the deal and Wildhorn’s plans for the property here.

Whole Foods opens Newest Location at Plaza Saltillo

That’s right! Whole Foods newest location is in the Plaza Saltillo development - the new window to the East, as it were. Read up on the opening and what it means for East Austin residents here.

COA Plans to Redevelop Derelict Home Depot/St. John Tract

Nearly 19 acres of City-owned land near St. John and I-35 is set to be redeveloped after more than a decade-long abandonment. The City has formally requested proposals for redevelopment of the former Home Depot and Chrysler dealership plot as of July 29th, and is considering community input in its development plan. Read up on the developing story here.

Mueller Gets A New Hotel

The Thrash Group out of Mississippi has broken ground on their Origin Hotel, which will be located within the Mueller development. The hotel is set to be five stories and 120 rooms, Thrash has not set an opening date. Read up on the development here.

South-East Austin: The Next Big Thing?

With Tesla confirming its Austin-based ambitions, developers are already clamoring to accommodate the coming economic activity - namely, by developing housing for the estimated 5,000 jobs Tesla is expected to bring. The largest of these planned developments in Southeast Austin is Easton Park, where 500 new houses are expected to be built this year alone. Read up on the developing story here.

Rush Is On To Move To Texas Like Never Before

In the wake of the COVID-19 pandemic, Texas has seen a surge of corporate relocation efforts from both coasts. From Tesla to Tik-Tok, central Texas has become a hotbed of economic activity in recent months as businesses scramble to adapt to this brave new world. Coastal business shuttered by lockdown orders, disrupted by wildfires, or destroyed by hurricanes see both an environmental and tax haven in central Texas, and they’re coming in droves. Read up on the trend here.

UPDATE: Tesla Adding To Land Holdings For Austin Factory

The Statesman is reporting that Tesla has purchased an additional 381 acres of land adjacent to their original 2,100 acre footprint in SE Travis County. Rumor has it, Tesla is also looking to make an additional purchase along the Texas 130 corridor. Looks like all systems are go for Austin’s new largest tech employer! Read up on the full story

Groundwork is laid for a massive mixed-use development at Circuit of the americas

On October 1st, the City of Austin approved a massive rezoning of the 1,155 acre land tract that hosts the Circuit of the Americas. The decision ended an effort now years in the making by COTA to rezone the plot in more development-friendly terms. Already in the works? An 11-story hotel, children’s amusement park, and waterpark. Read up on the City’s decision and what it could mean for SE Austin here.

For our family-owned construction and asset management business (having spent 20 years working in East Austin) development like this has been beyond our wildest dreams. Every year we proceed with caution as we watch this unprecedented growth continue, and it hasn’t stopped yet. Only time will tell if COVID-19 will significantly damper East Austin’s boom-times. For now, it seems developers haven’t batted an eye.

Beck-Reit https://Www.BeckReitCRE.com

East Austin is Makin' News & We Love Talkin' About it!

Listen to the Podcast series "Growth Machine," for insight into East Austin and Austin History, Struggles, and Solutions.

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CIRCUIT OF THE AMERICAS PLANS TO ADD AMUSEMENT PARK "COTALAND" TO EAST AUSTIN

CLOSURE OF MR. NATURAL'S SOUTH LAMAR LOCATION HIGHLIGHTS CHALLENGES FOR NICHE BUSINESSES IN AUSTIN'S GROWING MARKET, LOCATION IN EAST AUSTIN STAYS OPEN

Iconic Native Bar in East Austin Closes, Making Way for Holey Moley Mini-Golf Course.

ADELTON: A THRIVING MIXED-USE NEIGHBORHOOD IN BASTROP, FUELING EAST OF AUSTIN'S GROWTH

East Austin to benefit from AUSTIN PLANNING COMMISSION PROPOSES NEW TOWN ZONING CATEGORY TO BOOST HOUSING DEVELOPMENT.

EAST AUSTIN SEES SURGE IN APARTMENT DEVELOPMENT WITH THREE MAJOR PROJECTS UNVEILED

TRAVIS COUNTY LEADS TEXAS COUNTIES IN AIRBNB EARNINGS AS EAST AUSTIN HOSTS SEEK SUPPLEMENTAL INCOME AMID RISING COSTS

NEW LADYBIRD APARTMENT COMPLEX IN EAST AUSTIN OFFERS AFFORDABLE HOUSING TO SENIORS

Half a block away from our beck-reit offices CIM Group aims to raise the 145-unit apartment building in east austin

East Austin snags more restraurnts at the Mueller

East Austin gains SnailbRook as a Neighbor - Elon Builds own Texas Town.

80-Apartment Rosewood Project Off Airport Blvd. in East Austin -Commission OKs Rezoning

300 luxury apartments rising near Applied Materials factory East of Austin near Manor

PRIVATE DEVELOPER PLANS TO BUILD 600-ACRE PUBLIC PARK IN EAST AUSTIN, DOUBLING THE SIZE OF ZILKER PARK

BASTROP : 348-acre mixed-use neighborhood| 1,200 homes, 125,000 square feet of commercial space - East of Austin

UPDATE: MAY 2023

6 Leases Signed for 80,000 SF Of Office in East Austin at Centro

116 acres for A goliath Mixed-Use project Planned in East Austin on Bolm Road 3 miles from Downtown Austin - Kairoi Real Estate is rezoning

CIM Group aims to raise 145-unit apartment building at 1007 and 1021 E. Seventh St in East Austin

Construction to start on Film Studio Near East Austin. Bastrop 552 project — 486,000 square feet of studio space, 300,000 square feet of warehouse/mill space and 200,000 square feet of office space

Work is Underway on east Austin office project co-developed by aquila commercial.

A 50-cabin neighborhood for homeless residents in East Austin Opens May 12th - Esperanza Community.

UPDATE: April 2023

Big Win for East Austin - Mandatory parking spots for Austin bars could soon go away.

plans for a 650-unit apartment project at the intersection of Highway 71 and FM 969 East of Austin

East Austin home to many AirBNBs - Airbnb hosts in Travis County brought in $72 million in income, leading Texas for 2022

3 Par Galf Course Coming to East Austin | Austin Beach Club

Cotaland & #EastAustin

GREENPORT AIRPORT AND EMERALD ISLAND: AMBITIOUS EAST AUSTIN PROJECTS ENVISIONED FOR MASSIVE DEVELOPMENT

UPDATE: June 2022

Elon Musk's The Boring Co. Plans Tunnel Near Tesla's New Factory in Central Texas

Mueller's First Boutique Hotel Books Into Bustling Austin Neighborhood

Elon Musk's SpaceX Plans Construction in Central Texas About 20 Miles Southeast of Tesla's New Austin Factory