Why a $2 billion Austin eco-friendly development with 7,500 homes was years in the making

It’s been nearly 10 years since the Austin City Council approved it, but finally Whisper Valley — a 2,062-acre master-planned community — is more than a whisper.

The first homes are under construction and eventually the property near State Highway 130 and FM 973, a few miles south of downtown Manor, will comprise 7,500 single-family homes, along with apartments, stores, restaurants and other commercial spaces.

Click to read more at Austin Business Journal.

New urban multifamily project rises in rural setting in East Austin

The Guthrie, a new multifamily project, is rising from the former site of Guthrie Lumber & Distribution near Gonzales and Tillery streets in a formerly rural area east of downtown Austin.

Argyle Residential, an affiliate of Austin-based Cypress Real Estate Advisors, has already broken ground on the 322-unit project, which will include a live-work element on a small parcel across the street from the larger development.

Click to read more at Austin Business Journal. 

Boston investor shells out big bucks for one of downtown Austin’s newest skyscrapers

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics.

The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal.

McDonald is accustomed to pushing the envelope when it comes to securing top dollar.

Click to read more at Austin Business Journal.

28 major real estate deals going down in Austin

 Austin-based Aquila Commercial cranks out some of the best commercial real estate reports I’ve seen in my career. Earlier this week, I wrote about some of the analysis about downtown Austin parking costs, outmigration trends and traffic stats, and now here are some specific deals and data of note during the second quarter:
 
Click to read more at Austin Business Journal.
 

Look inside gleaming new downtown Austin skyscraper that Google will soon call home

Another latest and greatest skyline moment is upon downtown Austin.

The 29-story office tower that will house Google Inc.’s regional offices and several other noteworthy firms is now open for business.

Located at 500 W. Second St. and formally called “500 West 2nd,” the glass and steel structure was developed by Trammell Crow Co. in partnership with Principal Real Estate Investors.

Click to read more at Austin Business Journal.

Austin construction activity strong, but not as robust as other U.S. cities

Views in every direction across the Austin metro area seem to tell a story of unprecedented construction activity — and there are hundreds of projects underway.

In the Aug. 11 weekly edition, I survey some new developments that may have escaped detection because of their location or modest stories.

Click to read more at Austin Business Journal.