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A huge opportunity for developers gets formally underway Sept. 1 when Central Health releases its request for qualifications for the redevelopment of the Brackenridge campus.
“The RFQ represents an important milestone in redevelopment of the 14.3-acre downtown site,” according to a written statement.
Read more at Austin Busniess Journal
Austin’s affordability crunch, combined with a growing population, has fueled an apartment-building boom in and around the city. Slightly more than half of Austin-area residents are renters, and nearly half of them are paying what are deemed “unaffordable” rents, as the Austin Business Journal previously reported in a January cover story.
So how many more apartment buildings could Austin conceivably hold? Roughly 5,210, according to the number crunchers at RealMassive, an Austin-based company that has developed a robust real estate data analysis platform.
Despite the weakness of the Mexican peso against the U.S. dollar and the emotional politics stirred up by controversial talk of building a giant border wall, Mexican nationals continue to stream across the border into Texas to shop the growing numbers of American shopping centers being built or expanded to accommodate them. Indeed, Mexico residents account for about $4.5 billion in annual retail sales in Texas counties along the border, according to Tom Fullerton, a professor of economics at The University of Texas at El Paso. This bounty has motivated a cast of international and local developers to expand their retail presence on the U.S side, particularly in the Rio Grande Valley, which includes the cities of Brownsville, Edinburg, Harlingen, Hidalgo, McAllen, Mission and others.
read more at X Team International
Add the government of Singapore to the steady stream of investors putting money into San Antonio real estate.
As part of an equity deal with Denver-based YES! Communities, the Asian city-state’s new stake in the Alamo City’s residential market is worth about $107.7 million.
GIC — a global investment firm established by the Singapore government to manage its foreign reserves — recently acquired a stake in seven manufactured home communities in San Antonio, all of which were included in the recapitalization of YES!’s 178-property portfolio.
Read more at San Antonio Business Journal.
The 33-story Austin Proper Hotel & Residences is expected to break ground in the next few weeks after Goldman Sachs & Co. brought its hefty Wall Street weight to the table in support of the project on the site of the former Green Water Treatment Plant.
The Kor Group is close to moving dirt, the Austin American-Statesman reports. The merchant banking division of Goldman Sachs is now a capital partner,according to an Aug. 2 announcement.
Read more at Austin Business Journal.
AUSTIN, SAN ANTONIO – With three of the fastest-growing counties in the nation—Bexar, Travis, and Williamson—the Central Texas region is adding new residents rapidly.