Going Live! In Austin: Retail Live!’s founder talks to REDNews about current trends

BY BRANDI SMITH

After 13 years in commercial real estate in Tampa, Florida, Stacey Gilham made a big move; she packed up and headed to Austin, Texas.

“I underestimated the difficulty moving from one major market to another would present,” she says. “I needed a way to get to know the players in the market as well as to better understand the retailers in Texas, which varied greatly compared to where I had come from.”

The result was Retail Live!, a retail CRE trade event, which Gilham founded in November 2011. The first show was held the next August in Austin.

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WeWork’s new funding round puts valuation at $20 billion

WeWork has raised $760 million in a new series G funding round.

According to documents filed publicly with the Delaware Secretary of State, the New York-based co-working space provider issued 13.2 million new shares of preferred stock at a price of $57.90 apiece.

Click to read more at Austin Business Journal.

CBRE Forecasts Continued Growth In Revpar For San Antonio Hotels

Trio of sales indicative of investor demand

SAN ANTONIO – July 13, 2017 By year-end 2017, San Antonio hotels are forecast to see a revenue per available room (RevPAR) increase of 3.9 percent, more than the national projection of 3.0 percent, according to data from CBRE Hotels’ Americas Research.

The RevPAR increase is the result of an estimated 1.3 percent occupancy increase and a 2.6 percent gain in average daily room rates (ADR), according to CBRE Hotels’ Americas Research. San Antonio market occupancy rate levels are forecast to range from 62.4 percent for lower-priced hotels to 70.2 percent for upper-priced hotels in 2017.

“With Houston’s market still in decline, and the Austin and Dallas-Fort Worth markets flattening out due to large hotel room supply increase, San Antonio is becoming a more attractive destination in Texas for hotel investors. A very small new hotel room supply pipeline and increasing hotel demand will help drive hotel RevPAR growth for the next few years,” said Michael Yu, senior vice president, CBRE Hotels.

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Austin’s suburbs lead the way when it comes to rapid housing growth

Since 2010, no other part of the Austin area has added housing units faster than Hays County.

According to data from the U.S. Census Bureau’s annual Population Estimate Program, Hays County’s housing stock grew by 26.3 percent from 2010 to 2016, up 15,760 to 75,482 units.

Click to read more at Austin Business Journal.

Is bigger better for Austin? The upsides and downsides to expanding the convention center

Number crunchers would look at the proposed expansion of the Austin Convention Center in two ways: debt and taxes. If those were the only considerations, the push to add more than $600 million worth of additional space and amenities may not seem like a slam dunk.

But if the new debt, funded by hotel guests who pay additional room taxes, ushers in a golden age of tourism and bolsters the local economy, wouldn’t it be a wise investment?

Click to read more at Austin Business Journal.

Work starts on Plaza Saltillo development — office tower, hundreds of apartments to rise in East Austin

Construction began recently on a mixed-use project years in the making that will reshape a slice of East Austin directly across I-35 from the Central Business District.

Grading work for the Plaza Saltillo mixed-used development started earlier this month and the players involved — including developers Endeavor Real Estate Group LLC of Austin and Columbus Realty Partners Ltd. of Dallas, plus landlord Capital Metropolitan Transportation Authority — hosted a groundbreaking ceremony Wednesday to mark the first phase of work.

Click to read more at Austin Business Journal.