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News – Austin

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​​EDINBURG – Edinburg posted the lowest unemployment rate, at 4.7 percent, in the Rio Grande Valley for March 2018.

The city saw an increase of almost 1,100 jobs year-over-year, according to the Edinburg Economic Development Corporation.

Edinburg also was the only Valley city to post an unemployment rate of less than 5 percent for March 2018.

In March 2018, 39,216 individuals were employed in the city, compared with 38,160 persons working in March 2017— an addition of 1,056 jobs, according to the Texas Workforce Commission, which released statewide figures April 20, 2018.

Edinburg also added 252 jobs over February 2018.

For the past several years, Edinburg has registered the lowest or second-lowest monthly unemployment rate among all Valley cities.

March 2018 unemployment rates in the Valley’s most populated cities:

  • Edinburg: 4.7 percent
  • McAllen: 5 ​percent
  • Mission: 6.1 percent
  • Harlingen: 6.1 percent​
  • Brownsville: 6.7 percent
  • Weslaco: 7.2 percent​
  • Pharr: 7.5 percent

​​Image of downtown Austin.AUSTIN – A 1.6-acre block downtown has been purchased for future Block 36—a 263-unit micro-apartment complex—developed by Transwestern Development Co.

Block 36 will consist mostly of studios averaging 443 sf, with 14 percent of the complex dedicated to two-bedroom units.

“As one of the most expensive ZIP codes in Texas, downtown Austin has few options for those who want to live alone for less than $1,500 a month,” said Transwestern Development’s Ty Puckett.

“Block 36 will fill that supply gap.”

The project will break ground January 2019 between East 3rd and East 4th Streets on Waller Creek.

Delivery is slated for first half 2020.

​​​West Campus Lofts in Waco.WACO – A $9.1 million loan has been secured to enable the acquisition of West Campus Lofts, a 72-unit/180-bed student housing complex.

Located at 805 South 8th St., the property consists of one-, two-, three-, and four-bedroom units.

As of March 2018, the property is 85 percent physically occupied and the average rent is $714/bed.

The loan was provided by Hunt Mortgage Group to California Private Capital Group, LLC in order to finance the acquisition and complete the lease-up of the complex.​

​​​​Construction on "The Blueprint" in downtown Austin.DOWNTOWN AUSTIN – Construction is nearing completion on the Blueprint building, a four-story, 36,000-sf food and entertainment hub at 501 W. 6th St.

The ground floor will house TenTen, a high-end Japanese restaurant, opening July 2018.

The second Austin-area location of The Goodnight, a combination bar-and-bowling hangout, is planned for the second floor.

An upscale cocktail lounge called Mayfair is set to open on the third floor late 2018.

The fourth floor will be an event venue, and there could be a naming rights opportunity for sponsors interested in attaching their brand to the space says developer The Goodnight Group.

The Blueprint stands out on a stretch of West Sixth St. mostly occupied by low-rise former warehouses that have been converted into trendy bars and eateries.

Rendering of The Files Hines Multifamily Tower at Victory ParkDALLAS – Hines has filed building permits for what would be the tallest tower in Victory Park development near downtown.

Hines building permit information filed with the city says that the project at 3099 Olive St. will cost more than $138 million.​​

The 39-story skyscraper will be constructed across the street from American Airlines Center arena and next door to the W Dallas Victory Hotel and Residences.

The residential tower will include 334 apartments and 9,500 sf of retail space.