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News – San Antonio

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

Rendering of the new facility at Dell Children's Medical Center AUSTIN – The Dell Children's Medical Center is building the Dell Children's Specialty Pavilion, a new pediatric outpatient facility.

The $113 million facility will house cardiovascular, neurosciences, and cancer programs.

It will open in spring 2021.

Funding comes from an investment from Ascension and a $30 million grant from the Michael and Susan Dell Foundation.

An additional $187 million in expansions are planned for the hospital. 

Texas logoThe Real Estate Center has more Austin-area medical news​ on our website for free. 

​​Source: KXAN-TV

Rendering of Lantana on Bastrop SAN MARCOS – The city has approved the first two developments in its affordable housing plan​.

Mission DG and the city are developing the 216-unit Lantana on Bastrop at the intersection of Old Bastrop Hwy. and Rattler Rd.

LDG Development is developing the 296-unit Redwood multifamily project.

​​Construction begins on Redwood in the fall. Both developments will be complete in 2022.​

In exchange for tax credits, Redwood developers will pay the city $75,000 per year. The Housing Authority will get about $1.4 million from Lantana over the first four years, and the city will get $11,000 per year.

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Schertz Distribution Center at 17745 Lookout Rd.SCHERTZ – Dallas-based Dalfen Industrial has purchased Schertz Distribution Center, a 187,288-sf facility at 17745 Lookout Rd. 

The Class A property was more than 70 percent leased at the time of sale, with TJ Maxx and Forward Air occupying a combined 140,000 sf.

Texas logoThe Real Estate Center has more on San Antonio's industrial market:

​​Land plan for South Street Villas at 805 W. South St.LEANDER – Masonwood Development Corp. has broken ground on South Street Villas, a ten-acre rental project at 805 W. South St.

The 86-unit property will have 43 duplex-style homes in three different floor plans, ranging from 1,505 to 1,575 sf.  

Units will include three b​​edrooms, two bathrooms, and a two-car garage.

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AUSTIN – Only six submarkets—all in the San Francisco Bay area—have had higher rent growth than Austin's Central Business District since 2007, according to CoStar Group Inc.

Graph of highest rent growth from CoStar GroupOver the last 13 years, the metro's central business district saw an 80 percent increase in office rents downtown.

In the last year, it had 5.2 percent rent growth because of low vacancies and a low unemployment rate of 2.6 percent.

Because of these factors, Austin is currently building the most office space in the country based on percentage of inventory.

Ten million sf of office space is under construction, which is more than 9 percent of the total inventory.

Texas logoThe Real Estate Center has more office news for Austin-Round Rock: