Austin Developer Endeavor Raises $300 Million For Real Estate Investments

Endeavor Real Estate Group, one of the most active developers in Central Texas, is on a money-raising roll. The Austin-based commercial real estate firm has raised nearly $160 million, according to filings with the U.S. Securities and Exchange Commission, and has commitments from investors that would increase that total to more than $300 million. The funding would go toward future real estate investments. A June 25 filing with the SEC shows Endeavor raised $141.7 from 91 investors. A second securities filing showed that Endeavor raised $17.6 million in equity from 26 investors. Bryce Miller, an Endeavor co-founder, and managing principal said the filings do not reflect all of Endeavor commitments, which are more than $300 million. “The fund investors are private individuals for the most part, and a majority of them have invested in Endeavor projects in the past,” Miller said. “This real estate fund is not unique to Endeavor and is a commonly used vehicle for raising investment equity.′ Click to read more at www.statesman.com.

South Congress Avenue Sees Development, National Retail Move In

Shortly after Home Slice Pizza opened on South Congress Avenue in November 2005, the power went out. The gas pizza ovens did not rely on electricity, so co-owners Terri Hannifin and Jen Strickland decided to stay open. They found enough flashlights to make sure the kitchen was safe and asked an employee to bring in a guitar. A customer who lived in the neighborhood ran home and brought back a bag of candles. Over the past 14 years, the development of the power grid is just one of many changes along the corridor, business owners said. Many local businesses—including antique store Uncommon Objects, which opened in 1991 and relocated in 2017—have been priced out due to sharply rising property values. Click to read more at www.communityimpact.com.

ART & HEART: San Antonio Property Offers Unique Development Potential

River frontage. Incredible access. Dynamic area. Unlimited opportunity. It’s rare to find those attributes in a single property, but 530 Steves Ave. in San Antonio boasts all of them. “It is a ready-to-go development site that will
accommodate any number of uses, depending on what the developer wants to do,” says Steves Rosser, senior vice president at DH Realty Partners, the largest locally owned commercial real estate firm in the city. But, wait. Steves Rosser is representing a property on Steves Ave.? “It’s not my road, no, I don’t own it,” Rosser laughs. “I do have family ties that date well back in San Antonio’s history and that street is named for them. The Steves homestead can be found in the King William neighborhood. It was built by my great-great-grandparents and is now a living history museum.” Click to read more at www.rednews.com.

Q&A with Ben White, Cedar Park Economic Development Director

After serving in economic development and project management roles in Round Rock, Rowlett and Greenville, Ben White is now working for the city of Cedar Park, working on advancing the city’s employment opportunities. White stepped in after the former economic development director, Phil Brewer, retired in May 2018. Just before taking on his role in Cedar Park, White served as the vice president of economic development for the Round Rock Chamber for eight years. He also worked previously as the director of economic development for the city of Rowlett and as a projects manager and executive director for the Greenville board of development, according to the city of Cedar Park. He began serving as the economic development director for Cedar Park on Oct. 15. Click to read more at www.communityimpact.com.

Austin City Council to Restart Land Code Rewrite Process March 26 with Survey on Tough Policy Questions

Austin will revive its attempt to rewrite its land-use rules March 26 in a move long deemed necessary as a means to manage the city’s continued population growth and widening housing affordability crisis. The rules around what can be built in the city and where have not been comprehensively revised since 1984. Austin’s most recent attempt to this—a five-year, $8.5 million effort known as CodeNEXT—failed as it came down the homestretch last year. City Council voted to pull the plug on the effort after the rhetoric surrounding some of the more polarizing land use issues became “poisoned” and filled with hyperbole, as described by Mayor Steve Adler. Click to read more at www.communityimpact.com.

Tarantino Properties, Inc. Announces Acquisition of North Park Shopping Center.

Austin TX, May 2018: TX — Tarantino Properties, Inc. is pleased to announce, on May 10, 2018, the acquisition of the North Park Shopping Center located at 9616 N. Lamar Blvd in Austin, Texas.  The neighborhood retail center has gross leasable area of 110,049 SF on approximately 10 acres.  North Park is in a prime, urban infill location in the growing North Lamar corridor of Austin.  The property is currently 93% occupied to a diverse blend of local and national tenants such as Aaron Rents and Dollar General.  Tarantino Properties will manage and lease the property from its Austin office, led by Nick Tarantino.  The selling broker was Jim Batjer, a Senior Managing Director at HFF, LP.

Click here to view press release.