Develop Austin Texas

Located in the Lago Vista peninsula, these 315 acres feature Lake Travis waterfront, lake views and cleared fields with frontage on 2 paved county maintained roads with a hard corner.  There is about 3,000 ft. of very deep cove frontage on Lake Travis – the cove is about 70 ft. deep from the 680 ft. shoreline.  The land gently slopes to the waterfront making it very accessible along most of the shoreline.  The land is mostly cleared of cedars and junk brush to reveal nice vistas and fields of native grasses.  It’s currently ag exempt keeping holding costs low.

Known as The Falls, this land is fully entitled and platted for development through the City of Lago Vista.  The 520 lot plan includes large waterfront tracts, condo units, marina plan and production builder lots.  Water and wastewater are available though the City of Lago Vista but must be brought onto the property.  Commercial potential with excellent road frontage on both Lohman Ford Rd. and Sylvester Ford Rd. with a hard corner at the intersection.

This property is appraised at over $8,800,000.  We recently reduced the asking price to $6,500,000 or $20,635 per acre.  Other developments in the area are priced at $30,000+ per acre.  Visit our web site for more information about this property.

The Austin-American Statesman reported last Thursday that new home starts in the Austin area were up 11% in the second quarter of this year.  The new home starts were mostly in the $200,000-$400,000 dollar range, with many people taking advantage of the recently expired tax credit.  According to Residential Strategies, the median price of a new home increased 3 percent to $203,476 in the second quarter but that’s still off 4.3% from the same quarter last year.

The Austin market has remained one of the strongest real estate markets in the country.  We have not seen the big dips in prices that other markets across the country have seen.  This can be attributed to restraint by area builders who did not create an oversupply of housing and to our strong local economy which is still creating jobs.  Just recently Samsung announced they were investing $3.6 billion to expand its semiconductor business here.

Although it’s going to be a slow recovery, it’s good to see that signs are definitely pointing in the right direction.

I just watched the Texaplex video that has been floating around lately. It presents some great facts about our strong economy, job growth and population in the triangle formed by Houston, Dallas, Ft. Worth, Austin and San Antonio. I don’t agree with the blanket term “Texaplex” used to describe the triangle since these are all vastly different cities with their own economies and more importantly their own social and cultural identities. Watch the video and let me know your thoughts…

Last week, the administration announced they were eliminating all fees on the SBA’s most popular loan, the 7a loans, as well as CDC/504 loans. They are guaranteeing larger portions of loans (up to 90%) and offering 0% interest loans for small businesses that are falling behind on current loans. This loosening of restrictions will allow current businesses to grow and new businesses to start up.

While banks aren’t going to be handing money over to anyone who walks in off the street with a business plan, they are going to be making it easier for smaller businesses to get access to funds that will help them grow.  Business growth equals job growth.  The more jobs created the greater the demand for housing, land, etc…  It will be interesting to see whether or not existing business will take advantage of this opportunity and if it will pay off in the form of job growth in Central Texas.

The recent loosening of restrictions on SBA loans will greatly affect the land and development market here in Central Texas – both directly and indirectly. This post is going to focus on the obvious.

Last week, the administration announced they were eliminating all fees on the SBA’s most popular loan, the 7a loans, as well as CDC/504 loans. They are guaranteeing larger portions of loans (up to 90%) and offering 0% interest loans for small businesses that are falling behind on current loans. This loosening of restrictions will allow current businesses to grow and new businesses to start up.

With Austin’s relatively strong economy, we may see quite a few new businesses starting up in the near future. New businesses are going to need new space.  We are going to see new and creative uses of existing urban areas and (hopefully) smart growth around the urban core.