RECA Weekly NewsWire
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October 27, 2016 In This Issue
Top Stories
Local News
National News
Events
Austin Tree Experts
Professional Janitorial Service of TX
Top Stories
Tech disruption always feel new and scary, but it actually follows the same basic pattern every time it happens. Established players in massive industries assume they’re too big to lose market share to nimbler software companies until it’s already too late. So it was with Amazon and retail, Uber and taxis, Netflix and entertainment -- the list goes on and on.

Is commercial real estate next? Depends what you mean.

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"If you look at some of the people on Million Dollar Listing, you go on their Instagram pages and they have hundreds of thousands of followers. And you’ll see comments from people saying, ‘Hey, I want to list with you. Hey, I’d like to buy with you.’ Just because they have that image. It definitely works," Jose said.
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Rent in Austin increased about 2.6 percent between 2013 and 2014, according to data from the U.S. Census Bureau. But that tells just part of the story. Rent did not rise uniformly across the region; in some places it skyrocketed, and in other areas — surprisingly perhaps — it fell.
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The concept of converting older, obsolete office space into apartments and condos isn’t new. In fact, it’s been a popular way to revitalize large downtowns throughout the country—particularly along the East Coast, including Manhattan. However, what is new is that these conversions are now quickly expanding across other U.S. markets, such as the Midwest.
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Local News
Austin is poised to grow faster than any other large U.S. city in the next 25 years, nearly doubling in population.

That is according to new research by American City Business Journals, the parent company of the Austin Business Journal. The population of the Texas capital, which reached 2 million last year, is projected to soar 98.5 percent to nearly 4 million by 2040.
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The project is evaluating the historic bridge structures, which were originally built in 1939-40, to determine if the city will move forward with replacing or repairing the bridges that span the North and South San Gabriel rivers.
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Stratus Properties Inc., the Austin-based real estate, entertainment and hospitality company, has inked a blockbuster deal to sell its new HEB Grocery Co.-anchored retail development in Lakeway for $114 million. The purchase agreement was announced Tuesday morning in a regulatory filing.
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Newland hopes to see as much success with Elyson as it has with its nearby Cinco Ranch, the nation’s top-selling master-planned community for new-home sales in 2009, according to a survey by RCLCO. Like Cinco Ranch, Elyson mirrors the nationwide housing trend that’s seeing developers target consumer desire for community, walkability and access to local amenities. That includes small-scale approaches like the inclusion of sidewalks and porches on individual properties as well as larger investments in creating park spaces, bike paths, cafes and retail throughout the development to encourage community.
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National News
"A large change that’s happening in real estate that we’re seeing, is that companies are becoming more proactive rather than reactive, and that’s a huge opportunity to really deliver a much higher standard of customer service to property owners," said Hattemer.
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In a recent report, U.S. fire departments responded to an estimated annual average of 3,970 structure fires in dormitories, fraternities, sororities and other related properties from 2010-2014. Approximately 71 percent of the fires began in the kitchen or cooking area; cooking equipment was involved in 86 percent.
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Houston is the undisputed energy capital of the world, and the oil glut and decreasing prices are hitting us hard. But we're not alone. Bisnow compiled a list of cities around the globe riding out the same storm as Houston, and analyzed how they're faring.
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Co-working behemoth WeWork is planning to establish its own investment arm in hopes of buying its own real estate properties.
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Events
Tuesday 11/1/2016
11:15 am - 1:00 pm
Four Seasons Hotel
98 San Jacinto Blvd.

Public and Private Partnerships - Working Together for Better Parks
Should Austin's parks only offer vast open areas of often vacant grass? At Klyde Warren Park in Dallas and Discovery Green in Houston, the public and private sectors have worked together to create parks with innovative amenities that both communities have embraced. From restaurants to performance stages, these parks have become widely known as much for the experiences they offer as the open space they provide. How is Austin working with the private sector to improve our parks and what can we learn from these success stories?
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Thursday 11/3/2016
11:00 am - 6:00 pm

Avery Ranch Golf Club
10500 Avery Club Drive
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