Category: Central/South Texas

Sunflower Beach Resort & Residences Breaking Ground on Latest Project in Port Aransas

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Sunflower Beach Resort & Residences in Port Aransas, Texas, is holding the ground-breaking of its 21-unt Pool Residences condo building on Feb. 26. Sunflower Beach is the only master-planned community on the Texas coast with modern design built into its design code. The goal is to appeal to the more design-focused second homeowner. The resort’s latest project, The Pool Residences, is designed by Jay Corder, who is originally from Port Aransas. Corder graduated from the University of Texas at Austin in 1995 and immediately began working at Dick Clark Architecture in Austin, Texas.

Samsung Seeking Over $1B in Tax Credits for Potential Semiconductor Plant in Austin, Texas

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Samsung is seeking more than $1 billion in tax credits to potentially build a new 7 million-square-foot chip fabrication plant in Austin, Texas. The proposed facility, which is estimated to be valued at more than $17 billion, would produce advanced logic devices for Samsung’s Foundry business, according to a filing with the state comptroller. The filing shows that Samsung is seeking tax abatements from Travis County and the city of Austin and tax incentive deals with Manor Independent School District and the Texas Enterprise Fund. Samsung plans to request a 100% tax abatement over 20 years from Travis County worth over $718.2 million and a 50% tax abatement over five years from the city of Austin worth over $87.1 million. The company projects the net benefits for Travis County and Austin would be $4 million and $1.18 billion, respectively, over the next 20 years. Click to read more at www.foxbusiness.com.

Austin Ranked No. 9 Overall on CBRE’s Inaugural U.S. Development Opportunity Index

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Austin – Jan. 27, 2021 – Austin offers one of the most favorable development markets for commercial construction in the U.S. according to CBRE’s U.S. Development Opportunity Index. The region secured the ninth overall spot on the inaugural list with sector rankings of fifth for retail development opportunities, sixth for office, seventh for multifamily and 18th for industrial. The report, which analyzed the top 50 U.S. markets by population, scored markets based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast. “As the population of the greater Austin area is on pace to grow 25% or more in the next 10 years, construction in the area will need to keep up with the additional demand for commercial real estate,” Brian Jarrett, Senior Director with CBRE Project Management. “We expect construction pricing will remain highly competitive due to number and quality of construction firms in the area. There are fantastic general contractors that not only specialize in nearly every construction type, but also specialize in nearly every project size.” Jarrett added that Austin’s projected growth can be attributed to several factors. “In addition to Texas’ business-friendly environment, the greater Austin area has plenty of affordable land and a great labor market. Combine that with great schools, affordable housing options and a consistently strong job market, it’s no wonder that top companies continue to relocate to the region.” Click to read more at www.cbre.com.

SpaceX to Convert Offshore Oil Platforms into Spaceports

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SpaceX has purchased two deep-water oil rigs off the Texas Gulf Coast to someday use as sea-going spaceports for their Starship spacecraft. The commercial space firm, through an entity called Lonestar Mineral Development, bought the platforms from offshore drilling company Valaris in July, according to public filings. Several media reports say Lonestar Mineral Development bought the rigs that were headed to the scrapyard for $3.5 million each, a steal compared to the original production costs between $330 and 515 million in 2008. London-based Valaris has corporate offices in Houston and filed for Chapter 11 bankruptcy in August. The new owner has renamed the rigs Deimos and Phobos, presumably after the Martian moons, according to space media outlet NasaSpaceFlight.com. Bret Johnsen, SpaceX’s chief financial officer, is listed in public records as Lonestar Mineral Developments’ principal. Click to read more at www.chron.com.

Landing the Amazon Facility: Third Time’s a Charm for Pflugerville

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When Amy Madison first joined the Pflugerville Community Development Corp. as executive director in 2014, she immediately began looking for opportunities to bring an Amazon facility to Pflugerville. In June 2018, Madison began working alongside an Amazon site selection team to find a plot of land best fit for the job. Three site proposals later, the future facility found its match along Pecan Street, and Project Charm was formally launched. “As in, third time’s the charm,” Madison said. The PCDC hosted a behind-the-scenes panel Jan. 21 into the development process for the upcoming 3.8 million-square-foot facility, set to launch by early fall. The fulfillment center is expected to employ a minimum 1,000 employees once it is online, with plans to seek out local and regional employment in late spring. Key players behind the development who were present at the Jan. 21 panel include Jessica Breaux, economic development manager at Amazon; Jonathan Stites, senior vice president for the Texas region of Seefried Industrial Properties; and Tim Timmerman, a real estate developer and investor behind Timmerman Properties and original property owner of the project site. Click to read more at www.communityimpact.com.

CREW San Antonio Announces 2021 Board of Directors

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2021 CREW San Antonio Board of Directors, Advisors, and Liaisons Left to Right (sitting): Yesenia Marili, Immediate Past President; Dawn Vernon, President; Laura Gilliland, President-Elect/UCREW Liaison Left to Right (standing): Jennifer Soto, Director of Special Events; Cindy Cohn, Strategic Advisor; Lisa Mochel, Director of Membership; Emily Brown, Director of Communications; Natasha Sattler, Secretary; Erin Salinas, Chapter Champion; Martha Hardy, Legal Liaison; Brianna Covington, Director of Sponsorship; Jennifer Mansour, Director of Programs; and Diane White, Treasurer.

(JANUARY 2021 – SAN ANTONIO) – Commercial Real Estate Women of San Antonio (CREW) today announces 11 women were appointed to the Board of Directors, which will be led by President Dawn Vernon in 2021. Vernon and other members of the 2021 Board officially took office in January of this year. CREW San Antonio’s mission is to pave the way, breaking barriers for women to enter and excel as leaders in the commercial real estate industry. We provide unsurpassed connections, innovative resources and
education to enhance the real estate community,” said Vernon.

2021 Board of Directors and Chapter Leaders:
• President: Dawn M. Vernon, Bain Medina Bain, Inc.
• President-Elect/UCREW Liaison: Laura Gilliland, UTSA School of Business, Embrey Real Estate
Finance & Development Program
• Immediate Past President: Yesenia Marili, Transwestern
• Secretary: Natasha Sattler, HCFD Realty Management Inc.
• Treasurer: Diane White, ATKG, LLP
• Director of Charity & Community Outreach: Kristin Savage, LK Design Group
• Director of Communications: Emily Brown, First National Bank Texas
• Director of Membership: Lisa Mochel, Lone Star Capital Bank
• Director of Programs: Jennifer Mansour, Broadway Bank
• Director of Special Events: Jennifer Soto, Marmon Mok, LLP
• Director of Sponsorship: Brianna Covington, Kimley-Horn
• Legal Liaison: Martha Hardy, Brundage Management Company
• Chapter Champion: Erin Salinas, KFW Engineers & Surveying
• Strategic Advisor: Cindy Cohn, Springboard Consulting