Not only is the Austin Area Residential construction Hot! So is the Austin Commercial Development! Below I've given you an overview of the week in Austin's Commercial success and plans.
Friday 23rd 2007: Austin Mayor Will Winn and the City Council recently passed what they are calling a "Climate Protection Plan". They 1st started with Residential where both existing and new build homes have to meet certain "Green" criteria by a certain year in the future. It looks like they are now passing that criteria over into the Commercial sector as well. http://austin.bizjournals.com/austin/stories/2007/03/26/focus6.html?b=1174881600^1436601
Round Rock continues to grow as astounding leaps and bounds. I built my home there in 1999 and it looks like I made a good choice in locations. - Some commercial developers believe the Round Rock area could be the next in the region to emerge as an active office sector. Satterlee agrees, and says his company is looking for other tracts in Round Rock and elsewhere in Williamson County for projects ranging from medical office to flex space. http://austin.bizjournals.com/austin/stories/2007/03/26/story3.html?b=1174881600^1436502
Office space has been booming and some question whether there will be demand for all the office space being built. I personally say yes. Our unemployment in the Austin area has consistently been lower than the rest of the nation. We have dropped from 4.5% unemployment just a year ago to 3.8% this last month. http://austin.bizjournals.com/austin/stories/2007/03/26/story1.html?b=1174881600^1436496
Monday 26th 2007: With the local market growing so rapidly some Local Commercial Brokerages are expanding and setting plans into place to deal with the activity. - http://austin.bizjournals.com/austin/stories/2007/03/26/daily1.html?b=1174881600^1437510
Tuesday 27th 2007: Waller Creek has always been a pain for the city. When it rains it flood and as far back as the early 90's several people each year would lose their lives in the floods. Then the city somewhat placed flood plans into place to handle the water in Waller Creek. The city has always envisioned making it an area that enhanced Austins outdoor activity's mixes in with the music and business growth. It looks like that is finally becoming a realty...http://austin.bizjournals.com/austin/stories/2007/03/26/daily15.html?b=1174881600^1438075
Wednesday 28th 2007: In what may be the biggest Real Estate Deal to ever take place in TEXAS Thomas Properties Group Inc.of Los Angles is leading a group in buying 3.5 million SF of Class A office space for over $1.15 Billion dollars! Numbers beyond my comprehension! http://austin.bizjournals.com/austin/stories/2007/03/26/daily18.html?b=1174881600^1438397
Another subdivision of Austin that has been experaincing tremendous growth Leander Texas is building a 205 acre X-Park where a skate park, climbing walls, BMX tracks and beach volleyball, will be available for the community. http://austin.bizjournals.com/austin/stories/2007/03/26/daily23.html?b=1174881600^1438693
Thursday 29th 2007: No news announcements today
Friday 30th 2007: In a week that saw a $1 Billion dollar Commercial deal a annoucement has been made involving the sale of another building in Austin. http://austin.bizjournals.com/austin/stories/2007/03/26/daily39.html?b=1174881600^1440738
This wraps up the week in Austin Commerail Real Estate!
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