This year has proven to be a critical one for transit investment in Austin. Despite the pandemic, Austin welcomed its latest corporate resident, Tesla; received billions of dollars in state funding to expand I-35; and watched as city voters overwhelmingly approved Project Connect, which will transform the local transit system.
The Austin Chamber hosted a virtual regional mobility program on Monday to discuss the impact of these projects, with a special focus on job creation. Here are five big takeaways from the event…
The $7.1 billion Project Connect transportation proposal includes a 1.6-mile tunnel in the city’s downtown area, includes using property tax revenue to fund the project, with 45% coming from federal sources. This article is a deep dive (pun intended) into the project…
Oracle decides to head for the hills – of Austin, that is. Although the software giant has been a city presence for a while, the pandemic has inspired Ellison & co to relocate the company headquarters to the Lone Star state, as well embrace an ultra-flexible employee work location policy…
Not to be outdone, Facebook Inc. is planning to expand even further in Central Texas, and is in the market for 1 million square feet, on top of the numerous offices the company already has in Austin…
National Real Estate News
The rate of home price appreciation is accelerating and all 19 major markets across the country reported home price gains for September. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 18.3% in September, faster than a 17.0% increase in August. It marks the highest annual growth rate since March 2013…
As prices go up, there is often similarity, but also some surprising differences between rents and home prices from coast to coast. An analysis published on Black Knight’s blog indicates that rents and home prices don’t always rise or fall in tandem. The company says comparing trends between the two can sometimes be an apple and oranges situation; they are similar in some respect but vastly different in others…