By DeeinAustin™

This week’s spotlight focuses on the $85M mixed-use project breaking ground in Northwest Austin.

The Villagio will be located at RR 620 between US Hwy 183
and TX Hwy 71 minutes from Lake Travis. This project is sizable, with 29 acres of retail, office and luxury residences, all with an Italian style.

• 117,310 SF Retail/Restaurant space
• 31,800 SF Professional Office space
• 300 Apartments and a 5-acre lake

Who will live, work and shop at the Villagio Austin?

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Popularity: 17% [?]

DeeinAustin™

The Titanic-sized Villa Muse development is in trouble and sinking fast.The viability of the project in Austin took a controversial downturn
after Austin City Council narrowly denied their request to release
acreage in East Travis County.

As a result, News 8 Austin reported that developers are seeking bids from other cities.

You may recall that Villa Muse consists of a mixed-use arts and entertainment community and complex. The slated location is in East Travis County near Manor, just outside of Austin’s jurisdiction.

Villa Muse is an extremely critical decision for Austin. The $2.5 billion project promises up to 110,000 jobs.

WHAT’S SO CONTROVERSIAL ABOUT VILLA MUSE?

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Popularity: 7% [?]

By DeeinAustin™

Let’s take a stroll along East Riverside Drive in Southeast Austin, Texas for a mini site-seeing tour of present-day Austin. Picture yourself walking by my side as I describe the sites, sounds, and ambiance of the area.

Our tour begins on Riverside Drive, just East of IH35, as we head towards South Lake Shore Boulevard overlooking popular Town Lake.

There aren’t many homes on the street, because it’s mostly a commercial corridor, but that’s ok because the fumes from cars whizzing by has us lightheaded.

…the streets are a little grimy, but that’s ok. I’ll protect you while picking up litter along the way. The sweet smell of pizza, tacos, and "fried stuff" fills the air as we pass by the Capmetro bus stops taking students to campus.

A newspaper blows down the street. You catch one of the headlines,"Luxury high rise condos coming to East Riverside Drive in Southeast Austin".

WHY EAST RIVERSIDE DRIVE IN SOUTHEAST AUSTIN IS PRIME REAL ESTATE

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Popularity: 6% [?]

By DeeinAustin™

Fictional character J.R Ewing, from the popular 80s television drama, Dallas, was a betting man. What would the rich Texan do in today’s housing market?

I think he’d take a peak at lake real estate in Texas, which are poised for a comeback in 2008. Investors and buyers know that know that the market for second homes, luxury estate, and lakefront estate homes in Texas are still in demand. 

We recently reported on Trinity River development in Dallas. Today’s spotlight is on an upcoming 400-acre neighborhood development on the west side of Lake Houston.

A FEW DETAILS:

• This $90M-plus Parke Patterson Land Development project was announced a few weeks ago.
• Two Texas home builders have already committed. Next up is the retail developer.
• Estate lots will be 70-80′ along 2000 feet of shoreline on West Lake Houston Parkway near Beltway 8.
• Trees and water amenities will be the central feature of the Houston lake front community.
• Townhouses and retail will be integrated.

ARE KIMBALL-HILL AND IMPERIAL HOMES BETTING ON TEXAS LAKE PROPERTIES IN 2008?

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Popularity: 9% [?]

By DeeinAustin™

Dallas City Council just
approved a 45-acre planned development district (mixed-use) at the foot of the
Trinity River Corridor a few weeks ago. Today’s spotlight is on this mixed-use development along the hot Trinity River Corridor in Dallas.

Just about every major city in Texas
has had a surge in downtown revitalization since 2005, including San
Antonio, Fort Worth, Houston, and Austin. Dallas Mayor Tom Leppert (inset)
is relatively new, but has been surprisingly successful in rallying the
city to respond to expected growth.

He’s keen on mixed-use
development along the corridor and in other areas facing
revitalization. You may ask what makes the Trinity River Project different.

WHAT’S ALL THE FUSS ABOUT THE TRINITY RIVER REDEVELOPMENT PROJECT?

Dallas citizens voted to improve the area near downtown Dallas in a $246M bond package in 1998. The goal: transform the Trinity River flood zone, making better use of the land while taking advantage of the best views in town.

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Popularity: 6% [?]

Are you ready for the annual Texas real estate market statistics or am I the only person who ever gets excited about these things?

Ready or not, most December 2007 market statistics for the largest Texas real estate markets will be released within the next 2-3 weeks. I’ll discuss them here, of course.

Houston releases their market statistics earliest, so will probably be covered first.

I have to say that the Houston market is one of the best all-around real estate markets in Texas. I spent my holiday vacation in Magnolia, Texas on the far Northwestern side of Houston. If I had to move from Austin, I’d live in Magnolia. It’s rapidly growing, has tons of acreage lots and land, and is not far from the popular Woodlands area.

HOUSTON PRE-ANNUAL MARKET UPDATE   

Here’s a quick primer for what you’re going to see during the official annual  real estate market reports for Houston.

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Popularity: 10% [?]