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Written By Parimal M. Rohit
 CoStar News
 January 5, 2023 | 4:49 P.M.
 Curated By: Tony Lazarov 
 More housing is in the works for the area surrounding Q2 Stadium in North Austin, Texas.
 Austin-based Cypress Real Estate Advisors is planning to build a five-story multifamily project at 10109 McKalla Place, according to a state permit. The site at 10109 McKalla Place is currently home to an industrial building that was built in 1980.&nbsp;
 Cypress Real Estate's proposed 274-unit development, called McKalla Place, has a budget of at least $60 million, according to the filing. Construction is set to start in June and continue through August 2025.
 The property is next to Q2 Stadium, where Austin’s Major League Soccer franchise, Austin FC, plays its home games.
 Cypress Real Estate's website lists a loan for an "Austin Stadium District" project next to Q2 Stadium. The bridge loan, secured by first and second liens on 2.9 acres, is for $8.5 million.&nbsp;
 Cypress Real Estate has several other multifamily developments in the Austin area, including the 230-unit Lakeshore Pearl, the 256-unit Corazon, a 322-unit property called The Guthrie and a 328-unit building known as The Copeland, which is also a stone's throw from the Q2 stadium. The real estate developer also has properties in Denver; Raleigh, North Carolina, and Jupiter, Florida. 
 The site at 10109 McKalla Place is located within one mile of The Domain, a high-density, mixed-use development often referred to as Austin's second downtown. Several major employers such as Amazon, Google and Indeed have office space at The Domain.&nbsp; 
 The Domain is also home to several multifamily developments, restaurants, boutique shops and big-box retailers. Multifamily properties at The Domain include Flatiron, The Kenzie and Griffis.
 Cypress Real Estate is not the only developer to take an active interest in the area immediately surrounding the soccer arena. The fast-growing apartment arm of national homebuilder Toll Brothers has plans to build a 27-story residential tower across the street from Q2 Stadium.
 And Los Angeles-based Karlin Real Estate announced plans in 2021 to build a mixed-use development with hospitality, office and residential uses next to Q2 Stadium. The project, known as Verde Square, could bring 280 apartment units and 386,000 square feet of office space to North Austin.

Developer Plans 274-Unit Apartment Complex Near Austin's New Soccer Stadium

Written By: Jonathan LeeTuesday, January 10, 2013Curated by: Tony Lazarov &nbsp;The proposed zoning change would allow buildings in and around the Domain to rise as high as many downtown towers, solidifying the area’s status as Austin’s unofficial second downtown.The zoning change, initiated in September by the Planning Commission, would increase the allowable height in the North Burnet Gateway Regulating Plan’s Transit-Oriented Development zoning to nearly 500 feet, or around 40 to 50 stories. The floor area ratio, a measure of density, would also increase. Exactly how tall buildings should be is still up for debate. City staffers, for their part, recommend the following:<ul><li>For the TOD-Gateway Zone, increase the maximum building height from 360 feet to 491 feet and the maximum FAR from 8:1 to 12:1.</li><li>For the TOD-Midway Zone, increase the maximum building height from 240 feet to 327 feet and increase the maximum FAR from 5:1 to 7.5:1. </li></ul> But the Planning Commission may recommend allowing taller buildings in the TOD-Midway Zone when it meets on Tuesday. At least that’s if it follows the recommendation of the Codes and Ordinances Joint Committee, which voted unanimously last month to recommend 491-foot height limits and 12:1 FAR in both types of TOD zones.<a href="https://www.austinmonitor.com/?attachment_id=133712" target="_blank" rel="attachment noopener wp-att-133712">This document</a>&nbsp;shows where exactly these increases would apply. Staffers came up with their numbers by matching the height and FAR increases in TOD zones to&nbsp;<a href="https://www.austinmonitor.com/stories/2022/11/buildings-over-400-feet-tall-now-allowed-around-q2-stadium/" target="_blank" rel="noopener">recently approved changes</a>&nbsp;to the Commercial Mixed-Use (CMU) Gateway Zone that increased height and FAR by 36 and 50 percent, respectively.Developers can only build to the increased height if they provide public benefits in exchange. Staffers acknowledged this density bonus has not been calibrated to market conditions. If the requirements prove too onerous for developers, they are unlikely to build to the maximum allowable height.&nbsp; Commissioner Awais Azhar explained the rationale for the increasing TOD entitlements at a Planning Commission meeting in September: “TOD, which is supposed to be the highest intensity, would actually be lower in intensity to CMU …. (This zoning change) allows us to fix that issue with TOD so that we’re matching entitlements and doing good planning,” he said.&nbsp;Adding height and density aligns with the North Burnet Gateway Regulating Plan’s goal of creating a transit-oriented district. The area is well served by transit by Austin standards, with service on the 803 MetroRapid bus and Red Line commuter rail. Rail service will improve in the area within the next couple of years, with two Red Line stations under construction. McKalla Station, next to Austin FC’s Q2 Stadium, is scheduled for completion in fall 2023, and Broadmoor Station, next to the 66-acre Uptown ATX development, is scheduled for completion in early 2024. Once both stations are finished, the existing Kramer Station will be decommissioned.Other regulatory changes could be in store in the near future. City staffers are working on a comprehensive update to the North Burnet Gateway Regulating Plan, which should come before City Council early this year.&nbsp; Photo by&nbsp;<a href="https://commons.wikimedia.org/wiki/File:Domain_phase_2.jpg" target="_blank" rel="noopener">Larry D. Moore</a>,&nbsp;<a href="https://creativecommons.org/licenses/by/4.0" target="_blank" rel="noopener">CC BY 4.0</a>, via Wikimedia Commons. The&nbsp;Austin Monitor’s work is made possible by donations from the community. Though our reporting covers donors from time to time, we are careful to keep business and editorial efforts separate while maintaining transparency. A complete list of donors is available&nbsp;<a href="http://www.austinmonitor.com/who-funds-us/" target="_blank" rel="noopener noreferrer">here</a>, and our code of ethics is explained&nbsp;<a href="http://www.austinmonitor.com/about-us/" target="_blank" rel="noopener noreferrer">here</a>.

 Zoning change to allow taller towers in the Domain

Is now a good time to buy a house?It’s an evergreen question — always relevant — and it’s a highly personal question. Only you can answer whether or not it makes sense for you to buy a home at any given time.That said, the realities of unpredictable interest rates and the ever changing housing market will play a role in your decision. And, right now, those indicators are blinking red.As of December 2022, consumer confidence is quite low according to Fannie Mae’s&nbsp;<a href="https://www.fanniemae.com/research-and-insights/surveys-indices/national-housing-survey/national-housing-survey-archive">Home Purchase Sentiment Index</a>. Only 16% of consumers believe it’s currently a good time to buy a house. So who’s right? <h2 style="text-align: start">Is Now a Good Time to Buy a House?</h2>As we approach 2023, the dramatic increase in housing prices we were seeing in 2021 has stalled. In fact,&nbsp;<a href="https://www.nar.realtor/blogs/economists-outlook/existing-home-sales-fell-for-the-ninth-straight-month-and-decline-5-9-in-october-2022">home prices have decreased</a>&nbsp;for nine consecutive months, according to the National Association of Realtors. Not only that, but some experts believe the steady leak may become a stream and a&nbsp;<a href="https://www.axios.com/2022/11/28/home-prices-real-estate-housing">collapse in prices</a>&nbsp;is coming.On top of that, fixed 30-year mortgage interest rates are&nbsp;<a href="https://www.freddiemac.com/pmms">hovering around 6.5%</a>&nbsp;— as high as they’ve been in 20 years — though they did slightly decrease in November 2022.When asked about the outlook for mortgage rates in 2023, eight industry insiders told&nbsp;<a href="https://themortgagereports.com/96186/2023-mortgage-rate-predictions">Mortgage Reports</a>&nbsp;they expected interest rates to run anywhere from 5% to 9% next year — quite a range that doesn’t necessarily make a future homebuyer brim with excitement.Inflation could continue to push rates up, while a looming recession would likely cause them to drop. Ongoing inflation, Federal Reserve policies and impending recession fears make the near future of interest rates difficult to predict.That said, if you’re set on buying a home soon, you have options. You just need to be prepared to take on that financial burden.<h2 style="text-align: start"> </h2><h2 style="text-align: start">4 Questions to Consider Before You Buy a House</h2>Ultimately, whether or not you should&nbsp;<a href="https://www.thepennyhoarder.com/home-buying/how-to-buy-a-house/">buy a home</a>&nbsp;right now depends largely on how ready you are and your financial situation more so than market conditions.Before buying a home — the single largest purchase most people will make — you need to have a solid financial plan in place. Here are some things to consider before making that purchase.<h3 style="text-align: start"> </h3><h3 style="text-align: start">1. How Long Do You Expect to Stay in This Home?</h3>The future isn’t always predictable —&nbsp;life happens after all — but you should have an idea of any major decisions that are in your near future.Do you expect to get married? Do you plan on having kids in the next five to 10 years? How permanent is your current job situation? Do you want to be in that location long term?If any of those situations are in flux, you might want to pause&nbsp;<a href="https://www.thepennyhoarder.com/home-buying/home-buying-numbers-to-know/">buying a home</a>&nbsp;right now. That two-bedroom condo might get a little tight once you start having kids. Or the house you thought was a dream could become a financial weight around your neck when your company asks you to transfer to another city.The best time to buy a house is when your life is fairly stable, both personally and professionally. That doesn’t mean you need to have everything perfectly set. But you should carefully consider the pros of buying the home versus the cons of possibly moving in the short term — and figuring out what to do with your house — because of life changes.<h3 style="text-align: start"> </h3><h3 style="text-align: start">2. How Much of a Down Payment Can You Make?</h3>Traditional wisdom has always said to make a 20%&nbsp;<a href="https://www.thepennyhoarder.com/home-buying/down-payment/">down payment</a>&nbsp;in order to avoid&nbsp;<a href="https://www.thepennyhoarder.com/insurance/what-is-mortgage-insurance/">private mortgage insurance</a>. PMI covers the lender in case you stop making payments.The&nbsp;<a href="https://cdn.nar.realtor/sites/default/files/documents/ehs-10-2022-overview-2022-11-18.pdf">current median sales price</a>&nbsp;for a home in the U.S. is $379,100. That means to avoid PMI, a buyer would need to make a $75,820 down payment. For most buyers, that will require planning and some aggressive savings before making the purchase.The more you put down, the less your mortgage will be —&nbsp;meaning lower monthly payments. So you would borrow $303,280 instead of a higher amount. Most lenders require a minimum down payment of around 3% to 5%, so you have that option if your budget allows for larger monthly payments (more on that later).<a href="https://www.thepennyhoarder.com/home-buying/tips-for-buying-a-home/">First-time home buyers</a>&nbsp;typically have more options — with lower down payments and credit score minimums. These include:<ul><li><a href="https://www.thepennyhoarder.com/home-buying/how-to-get-an-fha-loan/">FHA Loans:</a>&nbsp;If you qualify, you might consider an FHA loan, insured by the Federal Housing Administration. These loans require just 3.5% down and credit score minimum of 580. Or if you’re able to put 10% down, you’ll only need a 500 credit score.</li><li><a href="https://www.thepennyhoarder.com/home-buying/va-loan/">VA Loans:</a>&nbsp;Veterans Affairs’ loans are an option for qualified military members and veterans. They don’t require a down payment and usually come with lower interest rates. They might require a funding fee that can be rolled into the overall mortgage.</li><li><a href="https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp">USDA Loans:</a>&nbsp;If you’re looking to live in a rural area, you may qualify for a loan from the U.S. Department of Agriculture. These loans require no down payment. You’ll need to live in a qualifying area though.</li></ul>Remember, the more you can manage to put down on the front end, the less debt you’ll carry over the course of your mortgage.<h3 style="text-align: start"> </h3><h3 style="text-align: start">3. What About Your Credit Score?</h3>Make sure you know your&nbsp;<a href="https://www.thepennyhoarder.com/credit/credit-scores/what-is-a-credit-score/">credit score</a>&nbsp;well before you begin the process of buying a home. That one little number will greatly affect your loan options when it comes time to sign the mortgage.The standard magic number required for conventional loans is 620. Anything between 670-739 is considered “good.” Between 740-799 is considered “very good.” And anything above 800 means you have “excellent” credit. The better your credit score, the better your loan options and interest rates will be.Non-conventional loans will require higher credit scores. One example is a jumbo loan, which typically requires a credit score of around 700. There are ways to buy a house with a&nbsp;<a href="https://www.thepennyhoarder.com/home-buying/how-to-buy-a-house-with-bad-credit/">lower credit score</a>&nbsp;though.If you’re looking at buying a home in the near future, it’s incredibly important to make sure you understand where your credit score is and how you can improve it over time.There are plenty of ways you can actively work on&nbsp;<a href="https://www.thepennyhoarder.com/credit/build-good-credit/">improving your credit score</a>&nbsp;— everything from making on time payments, applying for credit selectively and even asking for a credit limit increase but not using it.<h3 style="text-align: start"> </h3><h3 style="text-align: start">4. Is Your Budget Ready?</h3>The median mortgage payment is $1,100, according to&nbsp;<a href="https://www.rocketmortgage.com/learn/average-mortgage-payment">American Housing Survey data</a>. That number can vary, of course, based on where you live, how long your mortgage is, your down payment and interest rate.But if only that was all you were expected to pay. It’s easy to forget all the other fees that get tacked on to mortgage payments. You’ve got taxes, insurance and maybe&nbsp;<a href="https://www.thepennyhoarder.com/home-buying/hoa-restrictions/">HOA fees</a>&nbsp;and mortgage insurance — and then there’s all the ongoing maintenance and other monthly expenses that come with owning a home.<h4 style="text-align: start"> </h4><h4 style="text-align: start">How to See If You Can Afford a House</h4>Let’s use an example. We’ll say you live in Nashville, Tennessee — a prospering real estate market, but not out of control. As of now, the&nbsp;<a href="https://www.redfin.com/city/13415/TN/Nashville/housing-market">average cost of a home in Nashville&nbsp;</a>is $461,000.We’ll also say you live in a homeowner’s association — and, fortunately enough for you, Tennessee has the fifth lowest HOA with a median of $150 per month.We’ll assume you have good credit and can get the average interest rate right now at 6.5%.And we’ll finally assume you can manage a 10% down payment on a 30-year mortgage.Last, that credit score is also good enough to get a decent PMI rate of about 0.99%.

Is Now a Good Time to Buy a House — or Should You Wait?

Written by: Jonathan Lee
 December 28, 2022 
 Curated by Tony Lazarov Fresh off the heels of a decisive reelection win, City Council Member Paige Ellis is ready to hit the ground running in 2023 with initiatives related to housing, transportation and workforce retention. Ellis won reelection with 58 percent of the vote in November, avoiding a runoff. She told the Austin Monitor that the margin of victory didn’t surprise her, even though some regard District 8 as purple (state Rep. Ellen Troxclair, a Republican, represented the district before Ellis). “Most of that is just because I know we’ve worked so hard over the past four years to really deliver meaningful improvements for the neighborhoods people live in,” Ellis said. “I also felt that it was very important for me to run on my political values,” she added, noting her vocal support for abortion rights and gun safety measures and opposition to state leaders’ attacks on transgender youth. This year Ellis also celebrated a personal milestone, marrying political consultant and campaign manager Ed Espinoza. Among the year’s policy successes, Ellis highlighted a December resolution to streamline permitting for “missing middle” housing – one step toward making more housing types available as the city faces a housing supply shortage. The proposal would exempt triplexes and fourplexes from the city’s lengthy, expensive site plan review and create a “site plan lite” for five- to 16-unit projects. Site plan lite would guarantee a review time of no more than 90 days instead of the typical time frame of a year or more. “Time is money when you’re trying to get housing units open and available,” she said. While Council has made some changes to housing policy this year, such as relaxing compatibility (a rule limiting building height near single-family homes) and allowing housing in commercial zoning, Ellis isn’t satisfied. “I don’t think we’ve done enough,” she said. Next year, she hopes Council will discuss further relaxing compatibility, changing minimum lot sizes and tackling permitting headaches. She plans to bring forward two other policies early in the new year, one around integrating land use and transportation planning and the other around balancing environmental regulations and development standards. She also sponsored a resolution this year that led to increased rebates for e-bike purchases, which she sees as a way for people to exchange car trips for bike trips – a pillar of the city’s climate and mobility goals. The biggest challenge facing city government, according to Ellis, is providing basic services – a problem that comes down in part to employee retention and recruitment. One solution is better pay: “We’ve got to make sure we’re paying competitively.” Ellis backed increased salaries for city workers, including a $20/hour minimum wage, as part of this year’s budget process. She said the city also needs to further improve its already robust benefits packages by allowing former employees to return with the same amount of vacation time they had already accrued. “There’s a lot of good expertise out there, and we’re trying to attract it back to the city,” she said. Advocating for improving the city’s parks has been a mainstay of Ellis’ time on Council. Asked what elements of Zilker Park’s draft vision plan she supports (the park is in her district), she emphasized better bike routes and bus access and slowing traffic along Barton Springs. “If that means lowering the speeds, narrowing the lanes, looking at the number of lanes, I think that’s appropriate.” In other District 8 developments, Ellis wants to help the city partner with Austin Community College to transform the Pinnacle Campus, creating community benefits like affordable housing, parkland, a community center and a Project Connect park-and-ride. “I think that’s a really amazing opportunity for us to bring in every partner we can and make that campus everything that people want to get out of a public project like that,” she said.

Ellis to push for more progress on housing in 2023

A developer plans to build a student housing high-rise near the campus of University of Texas at Austin that would help fortify the Texas capital as the nation’s busiest construction market for apartments aimed at college students.&nbsp;
 The developer, listed as 2313 Rio Grande Property Owner LLC, has proposed to build a 344,328-square-foot student housing high-rise in the West End neighborhood of Austin, according to paperwork filed last week with the Texas Department of Licensing and Regulation. West End is an area adjacent to the University of Texas and home to most of the institution’s student housing.&nbsp;
 The project, to be called 24th and Rio Grande Apartments, has an estimated budget of $85 million, according to the state filing. Construction is slated to begin in May 2023 and continue through August 2025.&nbsp; 
 The University of Texas at Austin has the highest bed count in the nation when it came to student housing projects under construction, according to a report from brokerage firm Berkadia. There were 5,318 beds in development around the University of Texas’ flagship campus, the report said. That's well ahead of the second school on the list, the University of Washington, which had space for 4,263 beds in development.&nbsp;
 A separate application also filed last week with the city of Austin said 24th and Rio Grande Apartments would be 33 stories tall. The complex would have a parking garage and on-site amenities, according to the city filing.&nbsp;
 The city application was filed by Rhodes Partners, the project’s architect and interior designer. The applicant has requested an expedited review of the student housing high-rise. Rogers O’Brien Construction is listed as the project’s general contractor.&nbsp;
 The student housing development would replace Cain and Abel’s, a bar frequented by UT students. The bar that opened in 1991 is still in operation.

New 33-Story Student Housing Tower Planned Near University of Texas at Austin

In November, the housing market began to show signs of improved affordability as mortgage rates declined and rents decreased significantly. According to Zillow's latest Market Report, the cost of a new mortgage decreased by 4.8%, leading to a typical monthly mortgage payment in the US dropping by around $100. While Zillow notes that it is unlikely that affordability will significantly improve in the near future, the November data suggests that affordability may stabilize in 2023. The housing market is also showing signs of balancing, with neither buyers nor sellers having the upper hand in negotiations. The RE/MAX National Housing Report for November showed a moderation in prices and a 12% decrease in home sales compared to October's figures. New listings fell to their lowest level of the year, while houses for sale remained on the market for an average of 39 days, which was a week longer than in November 2021. The median sales price in November was $394,000, a 1.3% decrease from October but a 3.7% increase from November 2021. The decline in mortgage interest rates also led to a surge in demand for mortgage refinancing, with the Mortgage Bankers Association's seasonally adjusted index showing a 6% increase in applications to refinance a mortgage last week compared to the week before. However, volume was still 85% lower than during the same period the previous year. Despite the weak demand for new construction, economists expect that if mortgage rates continue to trend down, more buyers may return to the market later in the year as affordability improves. Potential market-moving reports for the week of December 26th include the US Home Price Index, Pending Home Sales Index, Initial and Continuing Jobless Claims, and the Chicago PMI.

Real Estate Market report

The most expensive apartment for sale in downtown&nbsp;<a href="https://www.mansionglobal.com/buy/united-states/texas/austin?geocoded_location[locality]=austin&amp;mod=chiclet" target="_blank">Austin</a>,&nbsp;a&nbsp;<a href="https://www.mansionglobal.com/library/penthouse" target="_blank" rel="follow">penthouse</a>&nbsp;in one of the city’s tony towers, has hit the market for $17 million—or for $20 million, it comes complete with its curated collection of furniture and contemporary art.&nbsp;&nbsp;The seller, according to property records, is a limited liability company that made the purchase in 2017.“There are four penthouses in the 37-story hotel/condo tower, whose 16th through 37th floors are condos,” the listing agent said. “This is one of only two facing Lady Bird Lake.” The unit, she added, is the highest-priced condo available in downtown Austin. But it wouldn’t be downtown’s most expensive condo sale, she added. “There was another that sold far north of this price in a non-disclosed sale,” she said. Texas is a non-disclosure state, meaning residential sale prices are not part of public government records.&nbsp; <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221215031532.jpg" alt="" data-rotate="" data-proportion="true" data-size="602px,401px" data-align="none" data-file-name="im-685906.jpeg" data-file-size="153431" data-origin="," data-index="4" origin-size="1050,699" style="width: 602px; height: 401px;"></figure></div> “The seller took it down to the studs and reconfigured the walls and opened up the layout,” . The listing agent declined to identify the seller and described him as a European entrepreneur and art collector.&nbsp;&nbsp;Designed by Los Angeles-based interior designer Thomas Schoos, who specializes in hospitality-industry design and whose residential celebrity clients have included Will Smith, Ellen DeGeneres, Jessica Simpson, and Courtney Cox, the penthouse is “cutting edge,” the listing agent said. “It’s the kind of design you see in major cosmopolitan cities like New York City and L.A. This really sets it apart from other properties in Austin, where you rarely see a design that pushes the limits.”&nbsp; <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221215031904.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="609px,404px" data-align="none" data-file-name="image.png" data-file-size="545956" data-origin="," style="width: 609px; height: 404px;" data-index="1"></figure></div> Mr. Schoos said that he wanted the penthouse to reflect the culture of the city, which is known for “its university, its great food and music,” and to exploit the “amazing sunsets and sunrises.”The 3,617-square-foot condo includes 20-foot ceilings in the living room and primary suite, a massive chandelier that hangs over the main living space, and a floor-to-ceiling fireplace.The kitchen is dominated by a concrete center island that has embedded range burners. Other amenities of the room include a custom dining table with a TV in the ceiling that lowers to viewing height, a built-in espresso machine, a cigar humidor, two wine refrigerators and two refrigerators. <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221215032100.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="610px,406px" data-align="none" data-file-name="im-685897.jpeg" data-file-size="109649" data-origin="," style="width: 610px; height: 406px;" data-index="2"></figure></div> In the primary suite, there is a sliding door made of vintage leather belts that Mr. Schoos said was created by the lead designer of Mercedes-Benz and took eight months to complete. There also is a custom swing at the foot of the bed. A custom Gucci sitting area, complete with a Versace chandelier, offers commanding views of the city as does a private patio. The bathroom is revealed by an enormous pair of rolling doors. Heated floors, a large steam shower, a custom fabric-wrapped tub and a TV built into the floor complete the space.The listing agent said the seller is parting with the property “because he’s based in Europe and has not been using it.”Mr. Schoos, who spent two and a half years working on the penthouse, said he’s sad to see it change hands.&nbsp; “It’s one of my favorite places.” <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221215032247.jpg" alt="" data-rotate="" data-proportion="true" data-size="611px,917px" data-align="none" data-file-name="im-685901.jpeg" data-file-size="150230" data-origin="," data-index="5" origin-size="1050,1575" style="width: 611px; height: 917px;"></figure></div> If you're in the market for a condo in downtown Austin, Texas, there's no better source of information than REspace Austin. This comprehensive real estate website has a wealth of information about the latest condos for sale in the downtown area, making it easy for you to find the perfect place to call home. One of the things that set Respace Austin apart from other real estate websites is the sheer amount of information they provide about each property. In addition to the standard details like price, square footage, and the number of bedrooms and bathrooms, Respace Austin also includes information about the building itself, including amenities, parking options, and even the view from the unit. This level of detail makes it easy for you to get a feel for the property and decide whether or not it's the right fit for you. Another feature that makes Respace Austin the go-to source for information about condos for sale in downtown Austin is the interactive map feature. With this tool, you can see exactly where each property is located in relation to the city's major landmarks, making it easy to find a condo that's close to the things you love. Plus, the map is fully zoomable, so you can get a detailed look at the surrounding area and see what's nearby. But Respace Austin isn't just a great resource for finding a condo. They also offer a wealth of information about the downtown Austin area itself, including information about local schools, restaurants, and other amenities. This makes it easy for you to get a feel for the neighborhood and decide whether or not it's the right fit for you. Overall, if you're in the market for a condo in downtown Austin, Texas, Respace Austin is the best source of information available. With detailed listings and an interactive map feature, you'll have everything you need to find the perfect place to call home.

The Most Expensive Condo for Sale in Austin Is Now This $17 Million Aerie

West campus in Austin, TX is a vibrant and popular area for students and young professionals alike. It is conveniently located near the University of Texas and offers a wide range of rental options, including houses. Leasing a house in West Campus can be a great option for those who want more space and privacy than an apartment can offer. It also allows for more flexibility in terms of layout and amenities, and can often be a more cost-effective option for groups of friends or roommates. When looking for a house to lease in West Campus, there are a few key things to keep in mind. First, location is crucial. West campus is a large area, so make sure to do your research and choose a location that is close to campus, public transportation, and other amenities that are important to you. Second, consider your budget. Houses in West Campus can vary greatly in price, depending on the size, age, and amenities of the property. Be sure to set a budget and stick to it, and don't be afraid to negotiate with the landlord to try and get the best deal possible. Third, think about what you need in a rental property. Do you need a certain number of bedrooms and bathrooms? Do you want a yard or other outdoor space? Do you need parking? Make a list of your priorities and use it to guide your search for the perfect house to lease in West Campus. Finally, start early and lock in your property as early as possible as demand for houses close to UT is very high, and available houses for rent are very few.&nbsp; Overall, leasing a house in West Campus can be a great option for those looking for more space and flexibility in their rental. With its central location, wide range of rental options and vibrant community, West Campus is an excellent place to call home.

Leasing a house for Aug 2023 pre-lease in West Campus. 

Available for Aug 2023 pre-lease, this beautifully maintained one-story brick home is located in a great location just a 5-minute walk from UT Austin. It features 5 spacious bedrooms and 3 full bathrooms. The surrounding neighborhood is friendly and safe, and the close proximity to UT Austin makes it an ideal location for students or faculty. &nbsp;Don't miss out on the opportunity to rent this charming home in an unbeatable location! <a href="https://respaceaustin.com/" alt="Set up" class="on">Set up</a> an appointment to come see it so you can put in a deposit and reserve the house for Aug 2023 move-in.

Great house in West Campus for Aug 2023 pre-lease

Written by Michele Lerner 
 Dec. 5, 2022 10:20 am ET
 Curated by Tony Lazarov When Tim and Robin Wentworth began searching for a second home, they quickly realized that time was a top priority. The Wentworths, both 62, planned to split their time between their homes in northern New Jersey and&nbsp;<a href="https://www.mansionglobal.com/buy/united-states/texas/austin?geocoded_location[locality]=austin&amp;mod=chiclet" target="_blank">Austin</a>,&nbsp;Texas. “We looked at Florida, the Outer Banks of North Carolina and other parts of Texas but realized that Austin is less than a three-hour flight from almost anywhere in the country,” said Mr. Wentworth, retired CEO of Evernorth, Cigna’s health services organization and Express Scripts. “Plus, our daughter lives in Austin and it has a super easy airport.” The Wentworths landed on Lake Austin, a 22-mile body of water with dams at either end that has become one of Austin’s most exclusive—and expensive—areas. Variously called the “Malibu” or “Napa” of Austin, the waterfront properties in the most sought-after neighborhoods along the lake range in asking price from $6 million for a possible teardown to more than $50 million, said Kumara Wilcoxon, a real estate agent with Kuper Sotheby’s International Realty in Austin. Celebrities and multimillionaires who own waterfront property on Lake Austin include Matthew McConaughey, Sandra Bullock, Mike Judge, Joe Rogan and Michael Dell. The single-family homes, which include both primary residences and vacation homes, will soon be joined by the Four Seasons Private Residences Lake Austin, a 179-home luxury community to be built on a cliff overlooking the lake.“This part of Austin is highly desirable because you get the benefit of waterfront living just 20 minutes from downtown Austin,” said Crystal Olenbush, a real estate agent with AustinRealEstate.com. “Lake Travis is larger, but it’s 45 minutes to an hour from downtown.” Lake Austin is part of the lower Colorado River, but the dams keep the water at a constant level, said Jim Olenbush, broker and founder of AustinRealEstate.com. On nearby Lake Travis, the water level can fluctuate by as much as 50 feet, which affects the view for homeowners and their boat docks, he said.“Lake Austin and the Pennybacker Bridge are beloved landmarks in Austin,” said Ms. Wilcoxon. “This is a peaceful tree-lined stretch of the Colorado River and is popular for motorboats and water sports. You can take your boat to restaurants on the lake, too.” <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221205013121.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="748px,421px" data-align="none" data-file-name="image.png" data-file-size="1230827" data-origin="," origin-size="1050,591" style="width: 748px; height: 421px;" data-index="0"></figure></div> Renovated properties inside the Loop 360, a commuter route into Austin, range from $20 million to $40 million if they’re renovated, Ms. Olenbush said. Homes along Lake Austin outside that loop start at $10 million or sometimes $7.5 million if they need renovation.Celebrities tend to live off the winding roads in the hills above Lake Austin in hidden and gated waterfront properties, said Ms. Wilcoxon.“A lot of the homes on Lake Austin have elaborate boat docks, some of them with two-story guest houses with kitchens for entertaining,” Ms. Olenbush said. “Homes on the Tarrytown side of the lake tend to have smaller lots but they’re right on the water and have easily accessible boat docks. Some of the other homes are built on terraces up in the hills with beautiful views and a path or steps down to their docks.”Many of Lake Austin’s buyers already live near the lake and are upgrading to new homes with a better view or lot, said Ms. Wilcoxon. Others live in different parts of Austin.“We’re also seeing a lot of people from California, Chicago and New York and international buyers,” she said. <h2>Condos Add to the Luxury Mix</h2>Buyers around the world are the target of the developers at Four Seasons Private Residences Lake Austin, which is being built on a 145-acre bluff above 3,000 feet of shoreline. Sixty percent of the land will be dedicated green space, said Jonathan Coon, a serial entrepreneur and co-founder of Austin Capital Partners, developer of Four Seasons Private Residences Lake Austin. He is also a future resident of the community.“It’s an unusual site with amazing views of a 90-degree bend in the lake, the Pennybacker Bridge, the Austin skyline and hill country,” Mr. Coon said. “We built a $25 million funicular—basically, two enclosed glass cubes—that take residents from the homes and amenities on the hill to the private marina on the lake.” <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221205013732.png" alt="" data-rotate="" data-proportion="true" data-size="756px,503px" data-align="none" data-file-name="image.png" data-file-size="857630" data-origin="," data-index="2" origin-size="1050,699" style="width: 756px; height: 503px;"></figure></div> The Four Seasons Lake Austin condos, which range in size from 1,900 to 7,000 square feet, are priced from $4.1 million to more than $20 million; 53 of the units will have a private pool.“Even though each building is a maximum of four stories, the views are like living in a luxury tower because they’re built nearly 400 feet above the lake,” Mr. Coon said. “We worked backward from the views, so each home covers an entire floor and will have a water view, a 12-foot-deep terrace at the front and a 9-foot-deep terrace at the back.” Most of the buyers plan to make this their permanent residence, Mr. Coon said. About 75% of the buyers are from Austin and elsewhere in Texas so far, with the other 25% primarily from California, Nevada, New Jersey and New York.“There’s a lot of excitement about the Four Seasons Lake Austin because there’s nothing else like it on the lake,” said Ms. Wilcoxon, who is unaffiliated with the development. “It’s unique to have a condo right on the waterfront with a marina.”The Four Seasons reputation precedes this development. Earlier in 2022, Ms. Wilcoxon sold a condo listed for $19.5 million at the Four Seasons Residences in downtown Austin, the highest-priced condo sale in the city so far.“People looking for a lock-and-leave luxury lifestyle are likely to be drawn to the condos at the Four Seasons Lake Austin,” Mr. Olenbush said. In addition, the amenities, including a private restaurant, a 96-seat theater, indoor and outdoor swimming pools; indoor tennis, squash and pickleball courts, a spa and a marina staffed by the Four Seasons, appeal to people, like the Wentworths, who want all of the relaxation without the need to manage their own staff.“We thought about buying a single-family home in Lake Austin, but it wouldn’t have been turnkey and frictionless,” said Mr. Wentworth, who bought “one of the largest units,” with 5,000 square feet and 1,500 square feet of terraces. “Time and quality are fundamental to a good lifestyle.”&nbsp;

The ‘Malibu of Texas’ Bucks Austin’s Downturn

<h2 style="text-align: start">The coming year could be ripe with real estate investment opportunities.</h2>2022 wasn't a fantastic year for investors across the board. The stock market fell 16% year over year, with several dips into the bear market territory. Real estate didn't fare much better. The median home price reached its highest point in history, then came down quickly as home buying shuddered in a high-inflation, high-interest-rate environment.The high prices, high cost of borrowing, high competition, and tremendous economic volatility mean a lot of real estates investors have stayed on the sidelines over the last few years, waiting for better buying opportunities. The good news is that 2023 could be the year real estate investing explodes once again. Here's why. Why 2023 could be a great year for buying Red-hot real estate markets are great for those who already own investment properties because they benefit from rising values and higher demand. But it's not the easiest time to acquire new properties. High competition means you're battling multiple offers that often exceed your desired purchase price. It also means you're likely paying more for the property. Price isn't the only factor that impacts the profitability of a real estate investment. Demand, cash flow, and cost of borrowing are also important factors that directly determine an investment's return. But the price is a big piece of the equation. Prices are still positive, but many experts and analysts predict a negative trajectory for 2023.Goldman Sachs is predicting home price growth&nbsp;<a href="https://www.fool.com/the-ascent/mortgages/articles/investment-banking-giant-sounds-a-warning-the-housing-market-has-further-to-fall/">could stumble to 0%</a>&nbsp;in 2023. Other analysts are more optimistic, saying demand and prices could continue to grow as long as rates don't keep climbing.? <h2 style="text-align: start">A few things to consider, though</h2>Prices may be more affordable in the coming year, but rising interest rates will still be an issue. The Federal Reserve has taken a&nbsp;<a href="https://www.fool.com/investing/2022/11/16/why-upstart-sofi-and-affirm-plummeted-today/">hawkish stance</a>&nbsp;on the continued hike of the&nbsp;<a href="https://www.fool.com/investing/how-to-invest/federal-funds-rate/">federal funds rate</a>&nbsp;in 2023. The federal funds rate doesn't determine mortgage rates, but it does impact them. At the start of December, mortgage rates were around 7% for a 30-year fixed-rate mortgage on an investment property. That could easily climb another two to three percentage points in the coming year if the Fed continues to hike rates to cool inflation. Higher interest rates translate into a higher monthly mortgage payment, which eats into the cash flow of the property.Rental demand is also falling. This means investors should be extra cautious when running their numbers on an investment property in the coming year because the rental rate you secure in 2023 could be a lot lower than market rents today. But those factors shouldn't stop you from investing. Rental vacancies and home-buying demand were at one of their lowest points in history during the&nbsp;<a href="https://www.fool.com/investing/2022/11/16/why-upstart-sofi-and-affirm-plummeted-today/">Great Recession</a>. Yet the years following were among the best times in history to purchase real estate property. We're still a long way off from seeing a major housing correction as we saw from 2008 to 2012. The key is to focus on cash flow and risk mitigation as you're buying. Those who purchased the property with the long term in mind have been rewarded handsomely over a 10- to the 20-year period, and it's likely 2023 could bring similar opportunities.

2023 Could Be an Explosive Year for Real Estate Investing. Here's Why.

A person with a $1 million home mortgage is now considered the average Joe.&nbsp; The mammoth-sized loans are getting to be more common with home prices still on the rise, annually, despite higher interest rates and a rapid cooling of the housing market. Indeed, the cost of a house is now so high that Fannie Mae and Freddie Mac — the two government-sponsored enterprises created to help everyday people finance homes — in 2023 will be allowed to snap up mortgages&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Conforming-Loan-Limits-for-2023.aspx">up to $1.09 million</a>, a record for the companies.&nbsp;The limit that applies to the highest-cost areas of the country is&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/housing-market-mortgage-limits-home-prices-fannie-mae-freddie-mac-2021-11">up from $970,800 last year</a>, for a 12.2% increase, according to the Federal Housing Finance Agency, the regulator which&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Conforming-Loan-Limits-for-2023.aspx">announced the change</a>&nbsp;on Tuesday. Fannie and Freddie are the largest buyers of US home mortgages and are credited with providing constant liquidity in the housing market through their purchases, even during downturns. They bundle the loans into mortgage-backed securities and guarantee payments to investors in exchange for fees. <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221230094237.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="," data-align="none" data-percentage="auto,auto" data-index="0" data-file-name="high cost.JPG" data-file-size="19030" data-origin="," style=""></figure></div> Their scope in residential markets is capped by the so-called conforming loan limit, which per a 2008 law is set in accordance with changes in home prices. Outside the priciest areas of the country — which include areas around New York, Washington, DC, and coastal California — the conforming loan limit will also rise by 12.2%, to $726,200. Considering how much home prices have increased from last autumn to now, the uptick makes sense. The FHFA's index of home values on Tuesday showed US prices increased by 12.21%, on average, in the four quarters through September. For reference as to just how much a typical home costs these days, the median home price on the online&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.realtor.com/research/tag/home-prices/">marketplace&nbsp;</a><a target="_blank" rel="noopener noreferrer nofollow" href="http://realtor.com/">Realtor.com</a><a target="_blank" rel="noopener noreferrer nofollow" href="https://www.realtor.com/research/tag/home-prices/">&nbsp;</a>was $425,000 in October, lower than the peak of $450,000 in June but significantly higher than the $380,000 of the same month last year.&nbsp;&nbsp; The higher conforming loan limits are designed to help more Americans buy homes but overall measures of affordability have worsened sharply as 30-year mortgage rates have doubled in the past year. Housing experts have predicted that&nbsp;<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/pandemic-hotspots-descending-back-to-earth-pheonix-denver-2022-11">home sales will continue</a>&nbsp;to decline, curbing home price increases at best, or causing steep declines in some places.?

US government entities Fannie Mae and Freddie Mac were just cleared to purchase mortgages of over $1 million for the first time because home prices are still so high

Written By: Daniel Feininger
 Nov. 19, 2022 5:00 PM EST
 Curated by Tony Lazarov A quick claim deed is a type of real estate transaction document that can be employed when selling a property or amending the ownership information regarding a home. Investopedia notes that quick claim deeds involve additional risk over the traditional warranty deed that is used during most&nbsp;home-buying efforts. The warranty deed is the standard practice when it comes to a typical real estate purchase. Warranty deeds involve protections for both the buyer and the seller, and they ensure that liens or other obligations associated with the property aren't transferred unwittingly to a new owner. A quick claim deed, also known as a quitclaim deed or simply a quitclaim, doesn't involve this same level of protection. Therefore, a buyer who transfers ownership to themselves through the use of a quick claim deed might be on the hook for additional fees, tax liens, or other financial obligations tied to the property. However, there are some aspects of a quick claim deed that are immensely beneficial, and they often find use in certain regions of the real estate marketplace. Continue reading to learn if the quick claim deed is the right way to approach the maintenance of your real estate interests. <h2> These deeds involve greater speed in transferring ownership or amending information </h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221121013256.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="659px,371px" data-align="none" data-file-name="Capture.JPG" data-file-size="62595" data-origin="," style="width: 659px; height: 371px;" data-index="0" origin-size="975,550"></figure></div> The primary benefit of the quick claim deed is the fact that it is indeed quick. The formal processes involved in a traditional warranty deed can drag the transfer of ownership out by a significant margin. These types of deeds involve numerous checks, additional documentation, and more. Conversely, a quick claim deed is a simple process of transferring ownership entirely, warts and all, so to speak. But, LegalZoom suggests that quickclaim deeds are the preferred method in certain regions of the real estate market (particularly when a sale isn't happening). This may occur when selling a property that has been repossessed, or when two people get divorced and need to settle ownership issues involved in their jointly held home. The quick claim deed is the fastest means of amending discrepancies or issues in the existing documentation or transferring the ownership of a property from the bank or other lender to a new buyer in an effort to recover a debt. Speed is highly prized in these types of scenarios and so quick claim deeds are typically employed instead of the more substantial warranty deed that is found in a more traditional real estate transaction. <h2>Quick claim deeds are often employed when changing the specifics of a deed among family members </h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221121013933.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="664px,373px" data-align="none" data-file-name="image.png" data-file-size="361168" data-origin="," style="width: 664px; height: 373px;" data-index="1" origin-size="780,438"></figure></div> Quick claim deeds may be used as a favored means of amending a home's title as well. If you own a property and then get married, using a quick claim deed is the best way to add your spouse as a co-owner of the home. Similarly, if you are gifting or willing your home to a family member, quick claim deeds make this transference faster and easier than the typical process involved in selling the property to a third-party buyer. When dealing with family members, the people involved in the transaction know each other intimately and are far less likely to fall victim to scams or other malfeasance. As a result, the relative degree of risk involved in the new owner taking possession is minimized substantially or entirely. Therefore, the risk involved in the use of a quick claim deed falls by the wayside, as it really only applies when dealing with people you don't know or don't trust for some reason or another. Quick claim deeds are an excellent way to amend a title record or to transfer ownership to a family member in a simple and rapid process, but Investopedia notes that this should only really be used when you trust the other person involved.

What Is A Quickclaim Deed When Selling A House? 

Written By: Darby Wagler
 Updated: Nov. 28, 2022 9:12 am EST
 Curated by Tony Lazarov Going from living in a home with ceiling fans to one without them can be quite jarring, especially in the bedroom. According to&nbsp;Kenner Electrics, we rely on them when sleeping for a few reasons: They cool or warm the air, make the space feel more comfortable, and can emit a soothing sound that some need to fall asleep. Because of these perks, many keep their ceiling fan spinning all night long. And, once they leave the room in the morning, they usually neglect to turn it off, so the blades continue circulating throughout the day. This cycle could continue for months without the fan ever being switched off.&nbsp; While this may seem harmless, there are two main reasons why you shouldn't leave your ceiling fan on in an empty room. Further, here's a tip for how to get into the habit of turning off your fan: Treat it like a light. Just as you switch off all your lights when you leave your home, you should do the same with your ceiling fans, per South End Plumbing.&nbsp; <h2>Ceiling fans don't cool the air </h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221129082826.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="768px,432px" data-align="none" data-file-name="image.png" data-file-size="400970" data-origin="," style="width: 768px; height: 432px;" data-index="0"></figure></div>Some believe that ceiling fans work to cool the air in a space, which is why many keep them on all day. However, as South Central Power Co. says, fans make us feel cooler by creating a breeze by spinning the air, but they don't actually affect the temperature in a room. Vastola Heating Cooling&nbsp;notes that fans also help evaporate the sweat off of us, which in turn makes us feel less warm. Therefore, if a fan is spinning in an empty room, it's doing nothing, as fans are only useful when there's someone underneath them. Further, because these fans run on electricity, they can actually work to slightly heat the air. As Forbes&nbsp;points out, the motor that spins the blades does emit a small amount of heat, which is redistributed back into the room. So, while a fan may make you feel colder, it's actually working to make the air just a tiny bit warmer. <h2>Ceiling fans don't save energy (on their own) </h2><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221129083259.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="," data-align="none" data-percentage="auto,auto" data-file-name="image.png" data-file-size="163543" data-origin="," style="" data-index="1"></figure></div> Other folks may have been told that using a ceiling fan will automatically save them money on their energy bills. However, this is not the case; in fact, if you continue to use your air conditioner as normal but also turned on the fan, you'd be making your energy bill more costly (only by pennies per hour, per Pick HVAC, but still). According to Hoffman Electrical and AC, if you want to reduce energy costs while using your ceiling fan, you'll need to do three things: raise the temperature on your thermostat, turn off the air conditioner whenever possible, and turn off the fan when you leave a room. This could save you money because you'll pay less to cool your home with your air conditioner, assuming that your ceiling fan alone can create a comfortable temperature. If you do all this, you could save 15% on your energy bill (before factoring in the cost of the ceiling fan's energy). Also, if you have a window air conditioner, a ceiling fan can help distribute the cold air in the room — though it won't save you money, per South End Plumbing. And, if your home has warm or cold areas, a fan could make the space's temperature feel more even.&nbsp;

Why You Shouldn't Leave Your Ceiling Fan On If You Aren't Home  

The Most Important Factors To Identify Before Buying A Home  

Written By: Ben Dreith Published November 17, 2022 Curated by Tony Lazarov Architecture studio&nbsp;<a href="https://www.dezeen.com/tag/hks/">HKS</a>&nbsp;has released plans for a&nbsp;<a href="https://www.dezeen.com/tag/supertall-skyscrapers/">supertall skyscraper</a>&nbsp;to be built in&nbsp;<a href="https://www.dezeen.com/tag/austin/">Austin</a>, Texas, which will be the tallest building in the state. <a href="https://www.hksinc.com/our-offices/austin/">HKS Austin</a>&nbsp;released plans for an 80-storey, 1,035-feet-tall (315 metres) skyscraper called Wilson Tower, which will be wrapped in a brise soleil. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 676px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118013705.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="676px,451px" data-align="center" data-file-name="Hk2.jpg" data-file-size="117636" data-origin="," origin-size="852,568" style="width: 676px; height: 451px;" data-index="0"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HKS announced the design of a super-tall skyscraper in Austin. Taking up a half-block location on 5th Street in downtown Austin, the tower will feature a raised pedestal that cantilevers over the ground-level walkways with concrete columns.The tower itself will rise from the podium level and will be relatively flat with expansive glazing on the broadsides of the structure and a metal brise-soleil that wraps around the narrow sides, covering the rounded top. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118020100.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,452px" data-align="center" data-file-name="kh3.jpg" data-file-size="100196" data-origin="," origin-size="852,568" style="width: 679px; height: 452px;" data-index="1"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The skyscraper will be 80-storeys tall "Our vision for Wilson Tower is to set a new bar in skyscraper residences for Austin that we believe will foster creativity and social connection," said HKS Austin principal Brad Wilkins."Along with welcoming outdoor terraces and gardens, the tower itself is wrapped in a brise soleil that offers protection from the hot Texas sun and wind while also providing structural strength.""This brise soleil gives the building uniquely shaded and comfortable outdoor living spaces on every level," he continued. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118020904.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,453px" data-align="center" data-file-name="hk3.JPG" data-file-size="149902" data-origin="," origin-size="1065,710" style="width: 679px; height: 453px;" data-index="2"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It will have a podium and restaurants on the ground level According to the studio, the brise soleil is a specific response to the hot Texas summers. The shading will take on two different forms on the facade of the structure.On the podium, classic vertical louvres will be used to shade the interiors, while the tower itself will be covered in a blocky metal structure that changes its profile depending on the needs of the apartments. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 680px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118021504.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="680px,453px" data-align="center" data-file-name="hk4.jpg" data-file-size="99037" data-origin="," origin-size="852,568" style="width: 680px; height: 453px;" data-index="3"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The tower will be covered in brise soleil The residential tower is being developed by Austin-based&nbsp;<a href="https://wilson-capital.com/" target="_blank" rel="noopener">Wilson Capital</a>&nbsp;and will have 450 apartments."We believe it is important to add intentionally designed density along the city's transit corridors to accommodate the unprecedented level of population growth Austin is experiencing," said Wilson Capital founder Taylor Wilson. Along with the variety of housing options, which span from studios to four-bedroom homes, the development will have amenities on the podium. These include a ground-floor restaurant, movie theatre, coworking spaces and a fitness centre, and the top of the podium will be a pool deck.<a href="https://brittdesigngroup.com/">Britt Design Group</a>&nbsp;will be in charge of the interiors while&nbsp;<a href="https://www.nudgedesign.com/">Nudge Design</a>&nbsp;will carry out the landscaping work on the property. <div class="se-component se-image-container __se__float-center" contenteditable="false"><figure style="margin: auto; width: 679px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118022708.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="679px,452px" data-align="center" data-file-name="hk5.jpg" data-file-size="99706" data-origin="," origin-size="852,568" style="width: 679px; height: 452px;" data-index="4"></figure></div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If completed it will be the tallest skyscraper in Texas A number of supertall skyscrapers have recently been announced in Austin, many vying for the title of Texas' tallest building. In&nbsp;<a href="https://www.dezeen.com/2022/09/08/kpf-waterline-supertall-skyscraper-austin/">September Kohn Pedersen Fox broke ground on Waterline</a>, a 1,022 feet tall (312 metres) skyscraper on the river that runs through Austin. HKS was founded in Dallas in 1939 and has since opened a number of offices in the United States and internationally.&nbsp;Recent projects by the studio in the United States include a&nbsp;<a href="https://www.dezeen.com/2022/03/30/hks-cmnty-cultural-center-black-owned-hollywood/">creative-complex development in Hollywood</a>.

HKS unveils plans for brise soleil-wrapped supertall skyscraper in Austin

Written by: Tamara Warta
 Housedigest Magazine Nov. 17, 2022, 4:19 pm EST
 Curated by Tony Lazarov
 The housing market is always a bit of a rollercoaster, but the ride got a lot steeper and faster once the pandemic hit. What started out as a few weeks of remote work turned into seemingly permanent work-from-home jobs for a large percentage of people. More families have started homeschooling than ever before, while others took advantage of a seller's market and those stimulus checks to move out of town and onto a new destination they love.&nbsp; With all this moving and selling, buying and building, the past few years have been lucrative for real estate agents and home builders. But what does 2023 hold for the homebuilding industry? According to CNBC, the housing market has cooled off — and rapidly so. Buyers are gun shy due to high-interest rates and other uncertainties, meaning that industries like home construction — which rely upon Americans eager for fresh starts — will likely start to suffer.&nbsp; <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118120449.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="334px,188px" data-align="none" data-file-name="Article 2J.jpg" data-file-size="68564" data-origin="," style="width: 334px; height: 188px;" data-index="0"></figure></div>According to the National Association of Homebuilders via Housing Wire, homebuilder confidence is at its lowest level since October 2012. Sentiment has continuously fallen for the past ten months, meaning that 2022 was a time of slowing&nbsp;development. But will 2023 see an upswing? The answer is likely no.&nbsp; While the COVID-19 years brought low-interest rates combined with restlessness from many families desiring larger living spaces, the nation's time coming out of the pandemic has had the opposite effect. Interest rates have soared, living expenses including grocery and gas prices have skyrocketed, and many Americans are simply trying to survive instead of thriving.&nbsp; Housing Wire quotes&nbsp;Robert Dietz, the NAHB's chief economist as saying that this is the first time there's been a decline in housing starts since 2011. It's becoming crystal clear that in order to capture the interest of potential new home buyers, interest rates will need to come down again.&nbsp; Buyers pulling out <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221118120650.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="361px,202px" data-align="none" data-file-name="Article 3J.jpg" data-file-size="60631" data-origin="," style="width: 361px; height: 202px;" data-index="1"></figure></div>Unfortunately, a lack of interest in new homes isn't the only issue that home builders are facing — a decent percentage of folks are canceling contracts on home builds already in progress or set to start. According to the National Association of Realtors, single-family home construction declined by 10% this year and is expected to dip further in the new year.&nbsp; The reason? Besides scary interest rates, mortgages are more expensive and material prices are also much higher than in past years. All of these expenses are passed on to the&nbsp;homeowner, causing a financial panic for the average family. In fact, the Commerce Department states that since January 2020, it now costs 35.7% more to build a new home.&nbsp; So are any areas of the housing market thriving? It seems a good time to be a landlord. Rentals are in great demand, and multi-generational homes are more common than ever as young people can't afford to move out, and others are moving back in to care for aging parents. There are also plenty of perks with renting. As My Move explains, millennials are fine with letting landlords handle repairs, yard work, and more, as renters are too preoccupied with earning a living wage, raising a family, and trying to find a healthy balance.

What Homebuilders Are Predicting For The Real Estate Market In 2023

Written by: Tahera Rahman
 Posted: Oct 10, 2022 / 09:43 PM CDT
 Curated by Tony Lazarov
 AUSTIN (KXAN) — Austin City Council members are set to vote this week on one of two proposed rate hikes for your Austin Energy bill, which would go into effect next month.There are two major components of all residential and commercial customers’ bills, explained Austin Energy spokesperson Matt Mitchell, the base rate, and the pass-through rate.Both are proposed to increase this year, and if city council members approve them, would total about $35 more per month for the average customer, Mitchell said. <h2 style="text-align: start;">Pass-through rate increase</h2>First, up for a council vote is the pass-through rate. City council members postponed the vote, so now it’s set to happen on Thursday.As it stands now, this would account for $20 of your bill increase, unless council members change this, and would go into effect November 1st. The pass-through rate is what it costs Austin Energy to buy and supply energy, Mitchell explained.Those costs include the price of energy, regulatory costs from the Electric Reliability Council of Texas (ERCOT), and transmission costs from the Public Utility Commission (PUC) — all of which are outside Austin Energy’s control.Mitchell explained that natural gas for electricity production is higher than it has been since 2008– a 106% increase just since last year. He said these are costs the agency has already paid, and now need to be recovered.“The important thing to remember is that Austin Energy is a publicly owned utility. There is no other way for Austin Energy to recover the costs, except through the fees that we have for our customers,” he said.Mitchell said pass-through rates go into effect once a year. He said the council set that timeline so that customers can budget for the whole year. <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221230083849.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="," data-align="none" data-percentage="auto,auto" data-index="0" data-file-name="Energy Hike.JPG" data-file-size="34342" data-origin="," style=""></figure></div> “At the same time, we’re seeing so much market volatility right now in terms of energy prices and inflationary prices that council members have asked about alternate timelines,” he explained. “So… are these rates something that we should revisit every six months, or every three months?” That’s one of the options Mitchell said they’ve been discussing with city council members, and will continue during Tuesday’s work session ahead of Thursday’s vote.“Is there a way to phase in these costs and to… recover those costs, I should say, so that it minimizes the impact to ratepayers, while still making sure that the utility is financially sound? Those are the questions that really need to be answered,” he said. <h2 style="text-align: start;">Base rate increase</h2>Mitchell said city council members are set to vote on the base rate increase on November 17th.As it stands now, this would account for $15 of your bill increase, unless council members change it, and would go into effect in January. Mitchell said they review the base rate every several years, as required by law (no longer than five years). This is what it costs to repair poles and wires and pay for employees and trucks. That review process was scheduled for this year and began back in April. He explained that Austin Energy is increasing this rate because operational needs are increasing with a growing population.The change would also include a different tier system, going from five to three, and resulting in smaller energy users seeing a bigger percentage increase in bills.Mitchell explained the current structure is more than 15 years old. “[It] was predicated on the highest users basically providing for the lowest users,” he said. “But part of the issue is… there are not enough of those high users… to fully supplement those that consume less energy. So, what we’re trying to do is bring all energy all levels, all tiers closer to the actual cost of serving them. And that was the impetus behind that proposal to go from five tiers to three.”“A phrase from where I’m from… It’s like… squeezing blood from a rock,” said Caroline Messmer, a Midwest transplant in Austin. “A lot of people’s incomes are staying the same, but prices are rising with rent, now potentially energy, with groceries, it’s– where are these people gonna get their money from to pay this?”&nbsp; <div class="se-component se-image-container __se__float-none" contenteditable="false"><figure style="margin: 0px;"><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20221230085301.jpg" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" data-size="595px,353px" data-align="none" data-index="1" data-file-name="ENERGY HIKE2.JPG" data-file-size="60666" data-origin="," style="width: 595px; height: 353px;"></figure></div> She’s already dealing with a rent increase. “So, I’ve had to reallocate funds to accommodate that,” Messmer said, explaining she’s cut back on what goes into her retirement fund.She’s also pitching in with her mom and sister as grocery prices increase.“We kind of band together and do Costco runs together, so we can split that cost three ways,” she explained.So, a proposed increase of about $35 per month in her energy bill isn’t what she wants to hear. “I can’t split my energy bill with them because they don’t live in my household. And I would definitely have to re-budget, my monthly income,” Messmer said.She said her salary is staying the same as other parts of her budget go up, and she can’t imagine what others on fixed incomes would do.“I would feel the pressure, and I am just myself in my household. "My sister is a single mother, and she would definitely feel that,” Messmer said.Businesses have also been vocal about their opposition to both rate hikes. Applied Materials, for example, told KXAN they’d be paying millions of extra dollars for energy. “You’re looking at operational costs that have to be covered, and you’re looking at pass-through costs that have to be recovered. So, that’s not going away. And what the long-term solution is is what we’re working on right now with council members,” Mitchell said.Mitchell said usually these two rate changes are nominal; one charge will go up and one will go down. This time, he said not only Austin Energy seeing the highest natural gas prices in 15 years, but the pass-through rate increase is coinciding with the base rate review and increase.“It’s just one of those sets of perfect storms where there is going to be an impact. The question is how to minimize that impact as much as possible for both our commercial and residential customers,” he said.

Austin city council members to vote on one of two energy rate hikes this week

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