RECA Weekly NewsWire

Real Estate Council of Austin®

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Top Stories
A vibrant, young workforce fuels the Austin economy, but with the growing demand for office space comes eight challenges.

Visit https://www.bisnow.com/austin-san-antonio/news/office/8-challenges-facing-austin-office--43415 to view the full article online.

 
As Northwest Austin becomes an increasingly desirable market in which to live and work, commercial landlords of both newer and older office buildings are working to produce more updated and progressive properties to meet tenants’ needs.

Visit http://impactnews.com/austin-metro/northwest-austin/commercial-real-estate-market-heats-up/ to view the full article online.

 
There’s no shortage of proposals when it comes to next steps for Austin transportation. From calls to look into a subway system to bus meetings about enhancing existing options, ideas abound.

Amid all those ideas for potential transportation growth, there is one transit project that is definitely going to take shape: the current Downtown MetroRail station is going to expand, thanks to a 2014 Texas Department of Transportation grant of $50 million.

Visit http://buildingatx.com/2015/02/the-making-of-a-new-downtown-metrorail-station/ to view the full article online.

 
Advocacy
Lt. Gov. Dan Patrick described a $4.6 billion tax-cut package unveiled Tuesday as the kind of tax relief that has been "long overdue" in Texas.

Visit http://www.bizjournals.com/austin/blog/abj-at-the-capitol/2015/02/go-big-or-go-home-texas-senate-pegs-4-6b-in-tax.html to view the full article online.

 
Austin City Council has approved multiple changes to how its meetings will operate, but the new methods will not be implemented until April.

Visit http://impactnews.com/austin-metro/central-austin/major-changes-to-austin-city-council-to-be-implemented-by-april/ to view the full article online.

 
Naylor Association Solutions
Local News
Traffic may be crawling on MoPac, but the construction is not. The Central Texas Regional Mobility Authority (CTRMA) says the MoPac Improvement Project is now 61 percent complete, and is still on track to wrap up by the end of 2015.

Visit http://buildingatx.com/2015/02/mopac-improvement-update/ to view the full article online.

 
As the city prepares to build infrastructure, including wastewater lines and the Oakmont Drive extension, along Westinghouse Road in the South Georgetown tax increment reinvestment zone, or TIRZ, developer Don Bourn, CEO of Arizona-based Bourn Companies, has begun planning for future growth on his property in the zone.

Visit http://impactnews.com/austin-metro/georgetown/developer-presents-plans-for-office-space-in-south-georgetow/?utm_source=+Central+Health+ad%3A+Community+Impact+Newsletter%2C+Feb+19%2C+2015+AUS&utm_campaign=Feb+19%2C++2015+AUS&utm_medium=email to view the full article online.

 
Between massive corporate relocations like Toyota and the anticipated Liberty Mutual, it’s no wonder that Texas is leading the nation in job growth.

Visit https://www.bisnow.com/dallas-ft-worth/news/office/3-reasons-the-platinum-corridor-is-booming-43358 to view the full article online.

 
National News
The commercial real estate industry has had some unpleasant reminders recently about the threat terrorism poses to the industry—and the difficult balancing act in which potential targets must be hardened, while at the same time still made open and accessible to consumers. After all, unlike office buildings or certain facilities such as nuclear power plants, the whole raison d'être of these projects is to have as many people visit as often and as freely as possible.

Visit http://www.globest.com/news/12_1056/national/retail/The-Conundrum-Retail-Real-Estate-Faces-With-Terrorist-Threats-355757-1.html to view the full article online.

 
Experts estimate that in five years, millennials will make up more than half of the workforce. And that shift will influence how companies build office space, industry insiders said.

Visit http://www.yourwestvalley.com/business/article_99bb07aa-be95-11e4-abd4-cf3802724fcd.html to view the full article online.

 
The 2014 Governors Cups recognize the top performing states for capital investment attraction in a season that lasts all year.

Visit http://www.siteselection.com/issues/2015/mar/cover.cfm to view the full article online.

 
Meta Housing Corp. has broken ground on the Glendale Arts Colony, a $32 million affordable housing project in Glendale, CA. The 70-unit multifamily development will target artists and families in need of affordable housing, and will create an "arts colony" in the city.

Visit http://www.globest.com/news/12_1054/losangeles/development/Multifamily-Project-Targets-Artist-Community-355653-1.html?ET=globest:e45727:852195a:&st=email&s=&cmp=gst:National_PM_20150226:editorial to view the full article online.

 
Events
Date: 3/25/2015

Time: 11:15 am - 1:00 pm

JW Marriott
110 E. Second Street

Visit http://www.reca.org/events/event/march-ideas-forum-586390 to view the full article online.

 
RECA Real Estate Council of Austin®
98 San Jancinto Blvd. Suite 510 - Austin, Texas 78701
info@reca.org | www.reca.org