Potential Austin Sites for Amazon

Last week it was announced that Austin made the shortlist of cities for Amazon’s second headquarters. The Austin Business Journal took a look at what sites in Austin would fit Amazon’s criteria for their enormous HQ2.

Amazon has said that they would need a site with 500,000 square feet of space with the potential to grow up to 8 million square feet. Amazon will also consider how long their workers are going to have to commute from where they live, so lots of housing nearby will be a must.

Based on this criteria, there are a few places that stand out as possible potential locations for the online retail giant. The Broadmoor campus, which is located near The Domain and has 66 acres ready to be expanded is currently occupied by IBM.

A 125 acre site that used to be home to Motorola would also work. The site is on 183 in East Austin and is just 10 minutes from downtown and 10 miles from the airport. That land is already under renovation by Eightfold and could have 500,000 square feet of offices in a year and has room for 5 million to 9 million square feet total.

The 8,000 acre Robinson Ranch is located in Northwest Austin at the intersection of Toll 45 and Parmer Lane. The land could be built upon however Amazon would like, and the family that owns the land is willing to sell it at a heavily discounted rate to attract Amazon. This space is 12 square miles, even larger than downtown Austin, has the MetroRail line already running through it, and is close to lots of housing options that are more affordable than downtown and are zoned to popular Northwest Austin schools.

Closer to downtown, the current Austin American Statesman offices on Lady Bird Lake are being floated as a possible location as well. Although it only occupies 18.5 acres, other sites could be combined with the Austin American Statesman offices to fulfill Amazon’s needs.

Looking to move in the Austin area? We’re experts and can help you find the apartment perfect for your lifestyle! (In fact, we might be able to show Amazon a thing or two.) Give Apartment Experts South a call today at 512-416-8100.

Austin on Shortlist to Get Amazon’s 2nd Headquarters

Amazon has included Austin in its shortlist of 20 cities that might get the online retail giant’s 2nd HQ, the Austin American Statesman reports.  

Amazon plans to put $5 billion dollars into their 2nd Headquarters and will hire 50,000 professional workers at high salaries in whatever city they land. The goal is an “HQ2” that equals their current Seattle offices.

238 cities in the US, Canada and Mexico put their hats into the ring in 2017. Requirements that Amazon set forth included a population of more than one million people and a city that was already attracting employees in the tech sector.

Austin doesn’t plan to give Amazon any local financial incentives, but the Texas governor Greg Abbott has said that it will put forth its own incentives for any Texas city applying to be the new Amazon HQ. Dallas also made the top 20 cities.

Mayor Steve Adler told Amazon that Amazon and Austin could work together on mobility and affordability issues if the city is picked.  After Amazon announced that Austin made the shortlist, the Mayor said Austin would have to look closely at the pros and cons of having a huge project like Amazon’s 2nd Headquarters come here.

The Governor issued a statement saying he is very excited about Austin and Dallas making the cut and thinks Texas is an ideal location for the new HQ.

The other cities on the list are: Atlanta; Columbus, Ohio; Chicago; Indianapolis; Denver, Colorado; Nashville, Tennessee; Montgomery County, Maryland; Northern Virginia; Los Angeles; Boston; New York; Newark, New Jersey; Philadelphia; Pittsburgh; Washington, D.C.; Raleigh, North Carolina; Miami; and Toronto.  Amazon plans to name the chosen city later in 2018.

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Austin Named 6th Hottest Housing Market in the US by Zillow

Austin has been named one of the ten hottest housing markets in the country, Culturemap Austin reports.

Zillow ranked US cities on metrics including home value and rent forecasts, income and population growth, current unemployment rates, and the number of job openings per person from Glassdoor to come up with a “hotness” score.

Austin’s hotness score put us in the 6th spot. As far as what neighborhoods are projected to see the biggest growth?  Zillow said Pecan Springs Springdale, MLK, Montopolis, West Congress, and Coronado Hills will see their home values increase the most.

Ready to make the move to “hot” Austin? Apartment Experts North can help! Give us a call at 512-339-4411 to find your dream apartment in the perfect Austin neighborhood for you!

Single Family Rental Homes in Pflugerville and Georgetown

A California company is building new single-family homes in Pflugerville and Georgetown that will only be offered for rent, Culturemap Austin reports.

The company, AHV Communities, will build 83 homes in the Legacy development in Pflugerville and 92 in the Rivers Edge development in Georgetown.  Houses in both communities will be one or two stories and have three or four bedrooms, with square footage from 1,440 to 1,882 square feet.

Homes in both cities will have front and back yards, washer and dryer connections, quartz counters, wood-style flooring, and walk-in closets.  Neighborhoods will have a dog park, fitness center, pool, clubhouse, and green space.  Home and yard maintenance will be the domain of on-site managers, just like at an apartment community.

The communities are expected to be complete by the end of this year.  AHV is also at work on similar neighborhoods in San Antonio and New Braunfels.

Looking to find your own rental in the Austin area?  No one knows the Austin area rental market better than Apartment Experts South. Give us a call today at 512-416-8100.


Austin’s Economy is the Second Best in the Country

A recent survey found that Austin has the 2nd best economy in the United States, only beat out by Provo, Utah, the Austin Business Journal reports.  

Austin had been number one for the past two years.  The cities are ranked using numbers from the U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, and the U.S. Census Bureau.

Austin added 275,000 new people to the city in the past half decade, which is a 15.5 population increase.  2,900 jobs were added in the private sector each month since 2012, which is a growth rate of 26 percent.

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Rent in Austin Going Up

A new report by Abodo finds that Austin rents are increasing, Austin Culturemap reports.

In the third quarter of the year, rent increased 2.51 percent. The median price of a one bedroom in Austin in July was $1,154, and by the end of September it was $1,183. For a two bedroom apartment, the median price at the end of September was $1,448. Austin is the 24th most expensive market for renting in the United States.

As U.S. News and World Report recently found, Austin is the best city to live in the country. Demand drives up prices, especially if there isn’t enough supply to house everyone coming to Austin, so expect rent to continue to be on an upward trend.  Austin had more new people move here in 2016 than ever before.

To sum up, don’t expect to see prices go down for a while, especially with homeownership rates falling.

Nervous about Austin’s tight rental market? Don’t be! With Apartment Experts South on your side, we can help you find the perfect apartment, in your ideal location and in your budget, in no time. Give us a call at 512-416-8100!

New Mixed Use Development in Cedar Park

A new mixed-use development in Cedar Park is underway, the Austin Business Journal reports.

The project was started as a way to add office space closer to where workers are living.  American Constructors found that their employees were living in the suburbs in Cedar Park, Leander and Round Rock, where housing was more affordable.  Their CEO reached out to developer Riverside Resources in hopes of moving their operations from Southwest Austin to Cedar Park where most of their employees reside.  The goal was to cut back on workers’ commutes.

The expansion of Apple, Inc., in Northwest Austin, as well as Charles Schwab Co., Amazon.com Inc., and HomeAway Inc. has led to a much bigger demand for housing and retail in the area.

Riverside Resources is behind the Presidio, a mixed-use community on 100 acres near West Parmer Lane and Brushy Creek Road.  American Constructors is the anchor tenant and has roughly fifty percent of the 25,000 square feet of office space in the first office building in the development.  Other tenants include First American Title Co., Edward Jones, and Thrivent Financial.  There are plans to add another 50,000 square foot office building.

A 337 unit multifamily development called Latitude at the Presidio is set to open in early 2018.

To meet the demands of all the office workers and residents, a trail will be added through the development as well as retail.  23,000 square feet will be constructed in the first phase, with a focus on restaurant-centric design with outdoor decks, a rarity in Cedar Park.

Want to make the move to Cedar Park or anywhere else in Austin?  Give us a call at 512-339-4411, we’re the experts at finding you an apartment you’ll love!  Austin Apartment Experts North will help you for free!

South First Named One of the Best Places to Visit in the US

Lonely Planet named the South First Street area in Austin one of the ten best places in the country to go right now, Austin 360 reports.

Lonely Planet cites Bouldin Creek Cafe and Torchy’s Tacos as destinations and applauds the casual, easy vibe of South First Street in direct contrast to the trendiness of South Congress.

They also suggest taking the CapMetro Bus 10 or renting a B-cycle to spend a day exploring the boutiques, vintage shops and bakeries along the street, and of course recommend a stop by the ubiquitous “Greetings from Austin” mural at the corner of Annie and South First.

For lodging, Lonely Planet recommends South Congress Hotel or a local house or room rented via Air BnB or Home Away.  

The other destinations in the country that Lonely Planet said were must visits are East Liberty and Lawrenceville, Pittsburgh; Avondale, Chicago; Point Loma, San Diego; East Nashville, Nashville; Capitol Riverfront and Yards Park, Washington D.C.; Montavilla, Portland; and River North, Denver.

Started out a tourist, but ready to put down roots in Austin?  Apartment Experts South can help!  Give us a call today at 512-416-8100 to find your perfect apartment in no time!  

Austin Tops for Commercial Real Estate Investment

Austin was named the best “non-gateway city” for commercial real estate investment, the Austin Business Journal reports.  (Gateway is New York and Los Angeles.)

DLA Piper’s Annual State of the Market named Austin the best city for commercial real estate investment in the country.  They asked 220 executives in the real estate biz from the best real estate firms in the country where they thought the best city was for investment and 45% of them said Austin.  That puts Austin on top, tied with Seattle.

Denver and Nashville tied for the next spot with 33% of the respondents naming them both great investment cities.

Chinese investors are the biggest foreign investor in the US market.  In Austin, a Chinese firm is partnering with a domestic one on the construction of 70 Rainey.

Looking for an apartment to give you your own little peace of mind?  Apartment Experts South can help! Give us a call today at 512-416-8100 to find your dream apartment in no time!  

Austin’s GDP 2nd in the US

Austin’s Gross Domestic Product was the 2nd highest in the nation, the Austin American Business Journal reports.

The Gross Domestic Product measures the total amount of all the goods and services that come out of the Austin metro area and was $125.8 billion in 2016, up 4.9 percent from 2015’s $119.9 billion.

The San Francisco Bay area beat out Austin in the rankings of metros with a population of at least 2 million.

Austin’s growth was strongest in the professional and business services sector, as well as finance and real estate.  Construction, trade and information were also robust.  The biggest drop in GDP was in the energy and durable-goods manufacturing industries.

Out of the United States’ 382 metropolitan areas, 267 saw an increase in their real GDP.  The average rise was 1.7 percent.

In Texas, GDP in Dallas was up 3 percent in 2016, but Houston’s was down 3 percent due to slowdowns in the energy industry.

Austin may have had the best growth in the country last year, but it was the smallest increase in Austin since 2012.  The Austin Metro Area’s growth has been super fast since 2011.  GDP was $93.4 billion that year.

Looking to get in on Austin’s strong economy? Apartment Experts South can help!  Give us a call today at 512-416-8100 to find your dream apartment in no time with our free service!