The Capital Area Metropolitan Planning Organization, which sets our regional transportation policy, will meet next week to adopt its final CAMPO 2040 long-range plan for the next 25 years of mobility investments. Activists, including some of our City Council members, are out in full force opposing plans to add two tolled lanes in each direction to MoPac South. As we at RECA listen to their claims about the allegedly negative consequences, we have one question: What are the consequences of doing nothing?

A mobile app released May 6 in Austin offers drivers rewards for using its navigation technology to provide drivers with the most efficient route to their destination.

The app, called Metropia, differs from other traffic navigation apps such as Waze, which users access at the beginning of a trip. Metropia allows users to schedule trips in advance to find not only the best route but the best time to depart.

The Harris County Appraisal District, and other agencies that appraise private properties for tax purposes, have increased property appraisals sharply using mass appraisal methodology that often fails to reflect actual market value for commercial properties, according to Deal Sikes & Associates, a leading Texas-based valuation firm.

The Change: Two weeks ago, Google announced a new search algorithm that favors "mobile friendly" websites in search results - a phenomenon popularly dubbed as "Mobilegeddon." In other words, if your company's website is deemed not mobile friendly, the website will appear lower in Google's search results. This algorithm change was put into effect one week ago.

A pair of representatives on the House Ways & Means Committee are making a new effort to change the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), arguing that it discourages foreign investment in U.S. real estate.

Reps Kevin Brady (R-TX) and Joe Crowley (D-NY) have re-introduced The Real Estate Investment and Jobs Act of 2015 (HR 2128); a 2013 version of the bill passed the House but never received a full vote in the Senate. The legislation would alter FIRPTA by doubling the tax exemption from five percent to 10 percent for foreign shareholders in U.S. public real estate investment trusts while exempting foreign pension funds from the FIRPTA tax entirely. The representatives cited a recent Association of Foreign Investors in Real Estate (AFIRE) member survey, which stated 76 percent of respondents believed that changing the FIRPTA tax set-up would spur their investment in U.S. real estate.

HFF has closed the sale of and secured $26.35 million in acquisition financing for three industrial/flex facility portfolios that total eight properties and 594,469 square feet in Austin and the Dallas-Fort Worth area.

City staffers and a renowned shorefront planning expert are helping drum up interest on a South Central Waterfront Initiative that outlines efforts to redevelop 97 acres immediately south of downtown Austin.

The city and Downtown Austin Alliance hosted Alex Krieger, a Harvard professor, international architect and urban planner, to share other examples of high-density waterfront redevelopment projects throughout the world, including some he personally helped design. Krieger spoke May 6 to Austin residents at the Mexican American Cultural Center and again May 7 at the Hyatt Regency Austin during a DAA breakfast event. Approximately 350 people attended both events, according to organizers.

Mayor: Funding will make plans a reality

After spending tens of thousands of dollars throughout more than a decade to investigate ways to breathe life into Old Town Pflugerville, the city has developed a new vision for revitalizing the downtown area.

The proposal—Pflugerville’s fourth downtown vision plan—was introduced before City Council on March 24 and includes suggestions such as fresh landscaping, a new park and goals to attract boutique hotels and a brewery/restaurant.

Home2 Suites by Hilton has opened its 50th hotel in less than five years.

The company has tapped the Domain submarket for the debut of its latest hotel, which is marketed to modern business travelers and extended-stay guests.

The nation’s changing demographic landscape has vast implications for retail development and investment. Current projections indicate that by 2060, the United States will become a "majority minority" nation, as more than half the population will be non-white. To explore the impact of this transformation, CPE teamed up with Nielsen for a special report in the May issue.

Growth in jobs is frequently relied upon as a metric for predicting future apartment absorption. However, findings from MPF Research indicate that this metric’s reliability is "surprisingly bad." In some instances, there’s a strong correlation; in others, hardly any at all.

Using a variety of techniques, Carrollton, TX-based MPF analyzed the relationship between job growth and apartment demand over the past 14 years. For the combined core 50 multifamily markets nationwide, the ratio between annual job growth and annual net absorption for apartment units has varied widely during that time frame, ranging from -161 jobs per unit of demand to +130 jobs per unit of demand.

When Ben Miller decided to use crowdfunding as a means to rehabilitate a beaten-down building in one of Washington, D.C.'s transitional neighborhoods, he didn't really know crowdfunding was a thing, That's because it wasn't, at least not in real estate, yet.

Hard Rock Hotel & Casino Las Vegas said on Friday a malware attack may have allowed hackers to steal credit card information used at its retail and service locations.

The potential breach may have included names, credit card numbers and their CVV security codes but not PIN numbers or other sensitive customer information, the company said in a statement.

What do politicians have to do with retail? Other than always trying to sell us something, plenty, says Michael Kercheval, president and CEO of the International Council of Shopping Centers. As we begin the countdown to RECon 2015 (May 17 to 20), Kercheval took some time out to discuss with GobeSt.com the state of the retail nation and the outlook for the market.

When: Monday, May 18
11:15 AM - 1:00 PM

Where: The Hyatt Regency
208 Barton Springs

When: Wednesday, June 10
11:15 AM - 1:00 PM

Where: The Four Seasons Hotel
98 San Jacinto Blvd.

When: Thursday, June 11
From 2 PM to 3 PM

Where: Online Webinar

Contact:
Ryan Poulos
ryan.poulos@reca.org
Phone: 512-320-4151

If you regularly work on Traffic Impact Analysis (TIA) then you need to watch this webinar. You’ll learn everything you need to know about TIA requirements for new development projects as well as how and when to effectively incorporate a traffic engineer into your project team. You’ll also learn about the differences between a TIA, Traffic Study and Parking Study.