RECA Weekly NewsWire

Real Estate Council of Austin®

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Did you notice the tower crane that appeared in East Austin over the weekend? That was the tower crane for Eastside Village – a mixed-use project at the corner of 6th and Comal with 7,500 square feet of retail space, 348 apartment units, and 94,500 square feet of office space.

Visit http://buildingatx.com/2015/04/crane-watch-eastside-village/ to view the full article online.

 
Austin is one of the worst cities in North America for traffic, yet again, in the latest edition of TomTom's annual worldwide traffic index.

Visit http://www.bizjournals.com/austin/blog/morning_call/2015/04/austin-traffic-congestion-among-worst-in-u-s.html?ana=e_aus_rdup&s=newsletter&ed=2015-04-02&u=QQstFqthh1Uzawg11yYSEw06e9dd6a&t=1427985326 to view the full article online.

 
Investment in US commercial real estate this year is expected to be underpinned by two key themes: the advanced state of the cycle and the global macroeconomic backdrop, "which is funneling capital into US assets," write TIAA-CREF’s Martha Peyton and Edward F. Pierzak. But volatility is an important aspect of that macroeconomic backdrop and will also figure in the CRE environment as the year progresses, point out the authors, both managing directors with TIAA-CREF Asset Management.

Visit http://www.globest.com/news/12_1080/national/economy/Volatilitys-a-Theme-Again-for-2015-356728-1.html to view the full article online.

 
Researchers are now painting most national office markets as heading out of recession and into recovery. Due to high demand for space and tight supply conditions, owners are taking control back from tenants, signaling a warning sign for occupiers that rents will likely increase in the next few years.

Visit http://nreionline.com/office/most-us-office-markets-firmly-recovery-expansion-mode to view the full article online.

 
Advocacy
A revised version of Rep. Angie Chen Button’s omnibus incentive fund bill, House Bill 26, passed out of the House Small Business and Economic Development Committee Thursday on a unanimous vote.

Visit http://www.bizjournals.com/austin/blog/abj-at-the-capitol/2015/04/texas-new-policies-for-corporate-incentives-coming.html to view the full article online.

 
Naylor Association Solutions
Local News
Fueled by an explosion in high-tech job growth, Austin is the No. 1 city in America for overall tech job creation over the past decade, according to the latest Forbes ranking.

Visit http://www.bizjournals.com/austin/blog/techflash/2015/04/forbes-austin-was-a-tech-job-juggernaut-over-past.html?ana=e_aus_rdup&s=newsletter&ed=2015-04-16&u=QQstFqthh1Uzawg11yYSEw06e9dd6a&t=1429555372 to view the full article online.

 
It’s not flashy, but the City of Austin’s new "Traffic Congestion Action Plan" aims to make a big difference in the city’s traffic problems.

Visit http://buildingatx.com/2015/04/austins-traffic-congestion-action-plan/ to view the full article online.

 
New Downtown Austin Alliance President and CEO Dewitt M. Peart has received a crash-course lesson on downtown Austin that has already included his first South By Southwest Music and Media Conference.

Visit http://impactnews.com/austin-metro/central-austin/new-downtown-austin-alliance-ceo-talks-long-term-strategy/ to view the full article online.

 
Two Austin companies are mentioned in the top 50 lists released by the National Multifamily Housing Council, which rank the largest apartment owners, developers, managers and general contractors in the U.S.

Visit http://www.bizjournals.com/austin/blog/real-estate/2015/04/who-rules-the-multifamily-market-these-firms.html?ana=e_aus_real&s=newsletter&ed=2015-04-16&u=QQstFqthh1Uzawg11yYSEw06e9dd6a&t=1429561749 to view the full article online.

 
Texas issued more than 63,000 multifamily permits in 2014, more than one and a half times the 15-year average, making it one of the strongest years for permit activity in the state, according to CBRE researchers.

Visit https://www.bisnow.com/dallas-ft-worth/news/multifamily/texas-on-target-for-record-year-of-multifamily-permits-issued-45030/?utm_source=Newsletter&utm_medium=email&utm_campaign=tue-21-apr-2015-000000--0500_national-re to view the full article online.

 
National News
Wanxiang Group Corp., China’s biggest auto-parts maker, said it may have become the largest Chinese corporate investor in U.S. real estate, betting an economic recovery will generate good returns.

Visit http://www.bloomberg.com/news/articles/2015-04-14/china-s-top-buyer-of-u-s-real-estate-may-be-auto-parts-maker to view the full article online.

 
By a number of metrics, the first quarter demonstrated that multifamily’s reign is far from over. Axiometrics said Wednesday that annual effective rent growth for apartments hit the highest level in three-and-a-half years, and also posted the best Q1 performance since 2006.

Visit http://www.globest.com/news/12_1079/national/multifamily/Q1-Metrics-Show-Apartments-Going-Strong-356686-1.html?ET=globest:e46136:852195a:&st=email&s=&cmp=gst:Texas_AM_20150414:editorial to view the full article online.

 
Sustainable building and operation practices continue to shift into the mainstream as industry firms embrace the impact green building has on their triple bottom line.

Visit http://www.cpexecutive.com/business-specialties/propertymanagement/2015-greenest-companies-in-commercial-real-estate/1004117503.html to view the full article online.

 
With so much focus on Millennials in commercial real estate, GlobeSt.com was curious: what makes Millennials successful in this field?

Visit http://www.globest.com/news/12_1084/orangecounty/young_professionals/What-Does-It-Take-to-Be-a-Rising-Star-356899-1.html?ET=globest:e46087:852195a:&st=email&s=&cmp=gst:National_AM_20150409:editorial to view the full article online.

 
Property management is facing a talent shortage, with labor statistics and industry orgs projecting 65% of our leaders retiring by 2020, says Cushman & Wakefield managing director of corporate occupier and investor services Eileen Carey.

Visit https://www.bisnow.com/national/news/property-management/property-managements-big-talent-threat-44275 to view the full article online.

 
Events
June 02, 2015
7:30am - 12:30 pm
W Austin Hotel

RealShare Austin is here! Join us on June 2 when over 250 of Austin's elite commercial real estate decision-makers gather for networking opportunities and forward-thinking local market knowledge.

Visit http://www.globest.com/events/realshare_event/austin/RealShare-Austin-2015-355654-1.html?ET=globest:e46121:852195a:&st=email&s=&cmp=gst:Texas_AM_20150413:editorial to view the full article online.

 
Wednesday, June 10
11:15 am - 1:00 pm

The Four Seasons Hotel
98 San Jacinto Blvd.

Visit http://recaonline.site-ym.com/events/event_details.asp?id=625174 to view the full article online.

 
RECA Real Estate Council of Austin®
98 San Jancinto Blvd. Suite 510 - Austin, Texas 78701
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