No matter the season, you can always count on a lot of activity in the real estate world, and fall is no exception.
Texas favorite HEB is building a replacement grocery store in southwest Austin, which may help to relieve the pressure on the packed-to-the gills stores in that part of town. The Domain continues to expand, adding a new tower to its already-expansive footprint.
And speaking of the Domain, the Austin City Council gave approval to a new, mixed-use development on East Riverside Drive that some are calling “Domain on Riverside.”
Read on to learn more about real estate goings-on in Austin and beyond.
Large Development on East Riverside Gets the Go-Ahead
The Austin City Council recently gave the green light for the redevelopment of five apartment complexes on East Riverside Drive into a major mixed-use development some have dubbed “Domain on Riverside.” The official name of the project is 4700 East Riverside and it will be built in phases over 10 to 20 years, bringing housing, offices, restaurants, retail and a hotel to the 97-acre site. It could have several million square feet of office space, hundreds of hotel rooms, and 4,700 housing units. The development has met community resistance, but developers’ promise of immediate aid to Austinites who are homeless convinced the council to approve the deal.
HEB Expanding in Oak Hill
HEB has announced that it is building a new store in Oak Hill in southwest Austin, at the intersection of U.S. Highway 290 and FM 1826. The 90,000-square-foot store will replace an older store about two miles away, and construction is expected to begin in February 2020. The store is expected to have 24 self-checkout registers, expanded product selections, and HEB Curbside, a service that allows customers to order online and pick up at the store. The store should open in late 2020 or early 2021.
Construction Begins On Tall Tower at the Domain
Construction began recently on what will be the Domain’s tallest office tower, at 24 stories. Under development by Stonelake Capital Partners, Domain Tower 2, on Alterra parkway, will have 330,000 square feet of Class-A office space and is expected to open in fall 2021. The tower, on the south end of the Domain and within walking distance of dining, retail and entertainment, is expected to be a draw to major tech companies such as Indeed, Amazon and Facebook.
Win the Lottery? Here’s Where to Live in Austin
Culture Map Austin recently researched Austin’s most expensive neighborhoods and came up with this list: Barton Creek, with a median home value of $1,084,400; Bryker Woods, $1,029,900; Old West Austin, $677,000; Zilker, $658,000; and Bouldin Creek, $611,900. Surprised that Westlake and Pemberton aren’t on this list? Us, too. And not only is Barton Creek the most affluent neighborhood in Austin, according to Culture Map; it’s the most expensive in the whole state.
Dallas Agent Breaks his own Guinness World Record
Did you know there is a Guinness World Record for most homes sold in a year? Neither did we. Nevertheless, a Dallas real estate agent sold 5,801 homes — $2.2 billion in sales volume — in 2018, breaking his own 2017 record of 4,799 homes and $1.9 billion in volume. Agent Ben Caballaro owns Dallas-based HomesUSA.com and specializes only in new homes sales for 60-plus builders in Dallas-Fort Worth, Houston, Austin and San Antonio.
Be Like Mike — Buy His House
NBA legend Michael Jordan is offering up his Park City, Utah, vacation home for $7.5 million. The 9,574-square-foot home was built in 2006 and includes five bedrooms and 7.5 bathrooms. The home features a contemporary design and is set on a hillside with a view of the Wasatch mountains. The multilevel spaces has floor-to-ceiling windows and vaulted ceilings. Upstairs, the master suite includes a seating area and a private terrace. There’s an office, a home theater and a gym.