Building Boom Continues Unabated in East Austin

Building Boom Continues Unabated in East Austin

Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes

But about three years ago we at the Business Journal noticed some real momentum building on the east side — and not just in Central East Austin, even way out by the airport. So we held the inaugural East Austin Growth Summit last year, recognizing that some big changes were on East Austin’s horizon. And that forecast proved to be spot-on. In the past year, East Austin has become the darling of local economic development circles. It was bound to happen. Compared to the west, south and north sides, the east side offers an abundance of land — and at a relatively low cost. Those are two of the factors that have lured Tesla to the area. It’s not only the biggest deal to hit East Austin this year, it may be the biggest deal to hit all of Texas in 2020. For the most part, the building boom 

Here are 10 notable developments popping up on the east side — almost all of them moving forward pandemic or not

https://www.bizjournals.com/au...

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Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
5y

Just figured out it is the Tesla Giga factory.  They are working on that quickly.   Moving dirt like kids with Tonka trucks.  Amazing.  Giga is the right word.

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  • Ryan KellyBusiness Member
    Real Estate Broker · Austin, TX · Member since 2018 · 1k+ posts · 1k+ votes
    5y

    @Neil Narayan East Austin will be interesting to watch from an individual investor perspective. I agree the growth along the SH 130 toll road will be enormous. For investors looking to purchase a rental, there are only two general options: purchase an older resale home in a C class neighborhood with lower-rated public schools, or purchase new construction in a master-planned HOA neighborhood. I've got clients looking at both options and interested to see how both these strategies play out over the next 5-10 years.

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  • Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    5y

    Any idea what the giant project is at 130 and Harold Green....East side of the road.   Looks giant.

  • Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    5y

    Just figured out it is the Tesla Giga factory.  They are working on that quickly.   Moving dirt like kids with Tonka trucks.  Amazing.  Giga is the right word.

  • Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes
    5y

    @Ryan Kelly I viewed some of those older neighborhoods and its rough :/ The new ones have seemed to already have priced in the future growth.

    @Bruce Lynn 130 and Harold green is where Tesla factory is coming

  • Real Estate Broker · Austin, TX · Member since 2012 · 1k+ posts · 1k+ votes
    5y

    @Neil Narayan Yeah there are rough areas there but keep in mind that chicon and other parts of 78702 used to be really rough too. Now its totally different!!

  • Real Estate Broker · Austin, TX · Member since 2015 · 715 posts · 527 votes
    5y

    @Aaron Gordy that's true :)

  • Investor · Round Rock, TX · Member since 2010 · 8k+ posts · 4k+ votes
    5y

    Our group started doing developments in east Austin in 2010....before it was cool to do it.  We were buying buildable lots for $50k/lot and exiting in the low 300k range.  We had on the order of 30% margins up until 2016 when things got squeezed a lot.  What appears to be happening now is that higher end sales are all the rage and the influx of out of state buyers can still afford them.  With just over 1 month of inventory and record low interest rates I guess this is just what people have to do to have a place to live.  It's crazy to me to hear lots are going for $450k or whatever....9 times what we used to pay for them a decade ago!

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