1. Housing market slowdown prompts trend of ‘accidental landlords’ in Austin
As the national real estate market shows signs of slowing, Unlock MLS data shows homes are generally spending more time on the market and home prices are coming back down in the Northwest Austin area on average.
For homeowners looking to sell, however, this has created a new trend in Austin, with more sellers turning to leasing as they wait for the market to bounce back, Dochen Realty Group Realtor Katie Dochen said.
Read more.
2. Former hotel converted into affordable apartment complex in North Austin
A former Quality Inn hotel in North Austin has been converted into affordable studio apartments, announced by Pfluger Architects and SHIR Capital in July.
The five-story Veer Apartments property features 174 pet-friendly units with rent under $1,000 per month.
Read more.
3. Factory Mattress closing all Austin locations after bankruptcy filing
Factory Mattress is closing its Austin-area locations, following the company filing for bankruptcy. The business filed for bankruptcy on June 7, according to previous Community Impact reporting.
Read more.
4. City Council approves request to rezone Apple campus in North Austin
Austin’s former Apple campus could be converted into a mixed-use development, following City Council’s approval of a rezoning request Aug. 28.
The site, which spans nearly 28.6 acres and features four two-story buildings, was previously zoned Limited Industrial which allows for industrial uses such as manufacturing and warehouse services.
Read more.
5. Cover 2 closes North Austin location after 13 years
Cover 2 announced its closure on Research Boulevard after over a decade of making connections in the local community.
The business shared the news in an Instagram post stating its thanks to the community for support throughout its time in business since 2012.
Read more.
6. $1B development EastVillage brings work, life, play to northeast corridor
Across from the Samsung Austin Semiconductor on East Parmer Lane sits the site for EastVillage, a $1 billion, 425-acre master-planned community. The mixed-use development is still under construction, and will bring residential, retail, restaurants, entertainment and green space upon opening.
At full occupancy, the development is expected to host 12,000 people a day, including residents, hotel guests and on-site workers.
Read more.
