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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

Image of where the 92-single family homes will go.AUSTIN – William Lyon Homes will break ground on two new developments in late 2018 after closing an $11.8 million deal to purchase two tracts of surplus land from the Austin Independent School District.

The company will build 92 detached condos on a 12-acre development off 51st St. between Springdale Rd. and Ed Bluestein Blvd.

The other project will have 92 single-family homes further north on 30.5-acres near Loyola Ln. and Ed Bluestein Blvd.

Prices will start in the high $300s for the condos and in the mid-$400s for the single-family homes.

There will be a 60-day exclusive marketing period to advertise to school district employees and families with children attending Austin public schools.

William Lyon will market those units to school district employees and families before opening them up to the general public.

The two projects are expected to be completed in late 2019.​

​​​​​​HOUSTON – The Bayou City’s residential market has been resilient, despite the natural disasters that have severely affected parts of the metro, according to Yardi Matrix’s “Spring 2018 Houston Multifamily Report.”​

Houston multifamily prices

During the first months 2017, the city struggled with ov​erbuilding and limited rent growth, but 4Q 2017 displayed stronger performance for the sector, as Hurricane Harvey pushed the multifamily market closer to an equilibrium

Here are some of the main findings from the report:

  • Houston added 46,000 jobs in 2017, a 1.5 percent rate of employment growth year-over-year and only 20 basis points below the national rate​.
  • Rents in Houston rose 2.9 percent year-over-year through February, the first time in almost three years when rents increased at a higher rate than the national average—2.7 percent through the interval.
  • Houston had approximately 14,300 units under construction as of February, almost a third of which were concentrated in West End/Downtown (4,499 units).​

​HUTCHINS – A Nebraska-based e-commerce retailer is opening a massive fulfillment center south of Dallas.

VMInnovations, which sells home and garden, sports and outdoors, electronics, and children’s products, has leased 416,891 sf at the Core5 Logistics Center in Hutchins. 

The industrial complex is located on 43 acres at the intersection of Wintergreen Rd. and I-45.

The retailer will use the space as a fulfillment center to ship to customers across the South.

The facility sits less than three miles away from the second-largest FedEx Ground facility in the U.S. and is within 1.5 miles of the Union Pacific Intermodal.

After VMInnovation’s​ deal, the center still has 337,406 sf available for lease.

​​​​​Rendering of the Victory Commerce Center.DEER PARK – Crow Holdings Industrial has broken ground on the Victory Commerce Center, a spec industrial project located at 2851 E. Pasadena Blvd. 

The 349,050-sf Class A development is expected to be completed by first quarter 2019 near the Port of Houston.

Powers Brown Architecture has designed the cross-dock and tilt-wall distribution building.

​​​​​Rendering of the Victory Commerce Center.DEER PARK – Crow Holdings Industrial has broken ground on the Victory Commerce Center, a spec industrial project located at 2851 E. Pasadena Blvd. 

The 349,050-sf Class A development is expected to be completed by first quarter 2019 near the Port of Houston.

Powers Brown Architecture has designed the cross-dock and tilt-wall distribution building.