Austin, Texas (PRWEB) November 08, 2012
After several years of a construction dry spell, compared to pre-recession years, Regent Property Group is reporting that Austins real estate development market is steaming strongly ahead in both new home construction, such as Austin luxury homes, and in large-scale developments throughout town. A pipeline of planned projects is packed, with new Belterra homes and Steiner Ranch new construction homes helping lead the way in new housing projects, and new apartment complexes and hotels making construction cranes visible throughout the city.
Many real estate projects that had been sidelined during the economic slow years have received the needed financing now, said Austin luxury REALTOR Brian Talley, And the developers of those projects are eager to push forward and break ground. These projects mean more jobs, more available housing, and more room for guests to Austin, all of which benefit the entire city.
The surge in new development projects in the real estate market is further evidence that Austin has fared better than most metropolitan areas did during the economic downturn. Commercial Texas LLC, an Austin-based commercial real estate services firm, is one of several companies taking part in the development projects, and is designing four large-scale apartment projects in and around the skyscraping downtown Austin condos, ranging from eight to 24 stories. Other newly announced projects include an office tower Cousins Properties Inc. plans at Third and Colorado streets downtown and White Lodging Corp.s plans for Austin’s biggest hotel, a 1,012-room JW Marriott convention hotel that is set to break ground in June. In addition, Manchester Texas Financial Group is forging ahead with a convention hotel planned for East Cesar Chavez and Red River streets.
“Professionals in the fields of real estate, architecture, design, and construction all are feeling optimistic that this growth spurt will be a catalyst for further positive development, including new office and retail in Austin, Talley said. “A lot of development deals are happening here because the people who develop, who finance, and who invest know Austin is a desirable place to be.
About Regent Property Group
Regent Property Group LLC is a top Austin real estate company owned and managed by real estate broker and luxury home REALTOR
