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The HEB in Dripping Springs is moving along.  Looked like it was slowed today with all of the snow that we recieved in area.  We will keep you updated.

The PIR Team

TWO DEVELOPMENTS FORMING IN DOWNTOWN CAPITAL CITY

AUSTIN (Austin Business Journal) – Downtown has been selected for at least two office and residential developments.

Austin-based Cypress Real Estate Advisors is planning a 120,000-sf, six-story, Class-A office building at 800 W. Sixth St.

The stalled Ovation project may also be stepping into downtown, involving a new partnership between Atlanta-based Novare Group Inc., Austin-based Andrews Urban LLC and International Bank of Commerce.

Revisions to the development, which originally included a 37-story condo tower on Block 51, will be available midyear.

TEXAS STATE PLANS $50 MILLION HOUSING PROJECT

SAN MARCOS (Austin Business Journal) – Texas State University System regents have approved the addition of the $50 million north campus housing project to the campus’ capital improvement program.

The 612-bed, 189,450-sf student housing project at Comanche St. and Sessom Dr. is expected to break ground this fall and open in 2013.

Other projects approved include:

• Academic Services Building North ($985,000),
• Department of Housing and Residential Life Office Building ($15.8 million),
• Mitte Clean Room renovation ($1.1 million),
• Lampasas Hall renovation ($1.7 million),
• Multipurpose Educational Facility site and infrastructure improvements project ($2.2 million), and
• a rescue house and climbing tower for the Advanced Law Enforcement Rapid Response Training program ($950,000).

These projects are part of $633 million worth of construction slated for the system’s San Marcos campus in coming years.

Austin Bergstrom International Airport ranked among best small airports

Austin Business Journal

We will add some pics of the progress in the next couple of days.

About a quarter of the steel is up on the 62,000 sqft structure.  Opening is planned for the Summer of 2009.

We will keep you posted.

The PIR Team

AUSTIN HOME SALES UP 5 PERCENT LAST MONTH

AUSTIN (Austin Board of Realtors) – Area home sales in January 2010 were at 884, up 5 percent from the same month in 2009, according to the Multiple Listing Service report by the Austin Board of Realtors.

The median price remained stable in the same period, up 1 percent to $179,250.

“At this point, we can look back and see that January 2009 was the low point of this cycle. With steady improvement throughout 2009 that continued in January 2010, we can see that we’re one year into the recovery in Austin,” said John Horton, chairman of the Austin Board of Realtors.

Throughout 2009, the volume of single-family home sales in Austin improved steadily. In the first half of the year, the gap in year-over-year sales volume closed consistently, reaching levels similar to 2008 during the summer peak, with the exception of a dip in August.

In fall 2009, sales volume began outperforming 2008 and surged in October and November, spurred by the original deadline for the first-time homebuyer tax credit. In December 2009, sales volume returned to a modest increase of 5 percent compared with December 2008, a growth rate that was maintained in January 2010.

They started pouring concrete at new HEB in Dripping Springs.

We will keep you posted.