Real Estate

Casata San Marcos will consist of 210 micro-home units. (Rendering courtesy Align 3D) Austin-based startup Casata broke ground on its second venture Casata San Marcos, located at 2138 Post Road, on May 14. The details. The lifestyle community developer launched its first micro-home community—Casata Austin—in 2022, which consisted of 66...

SPI Advisory, the Dallas- and Austin-based multifamily private equity firm, closed the sale of Oaks on Marketplace, a 254-unit, Class-A apartment complex built in 2017 at 20400 Marketplace Ave. in Kyle, Texas. Located just seven miles south of Austin, Oaks on Marketplace attracts renters seeking a high-end lifestyle at an...

The McLain Housing Project is a new development venture that aims to provide students with more living options near Texas State. However, this project not only replaces the affordable apartments currently there but also has harmful implications for the status of the historically residential neighborhood. On April 16, the San...

Check out April's real estate data for the San Marcos, Buda and Kyle area, and how it compares to the same month last year. (Brittany Anderson/Community Impact) The most recent data compiled by the Four Rivers Association of Realtors showed median home prices in Kyle and Buda decreased year over year from April 2023 to April 2024. In San Marcos, however, median home sales prices increased by just over 4% to $395,000.

Sometimes, size isn’t everything. Austin-based startup Casata has broken ground on Casata San Marcos, 210 micro-homes ranging from 512 to 806 feet. The project, located at 2138 Post Road in San Marcos, is the company’s second rental community. Its first was a 66-unit venture in Austin. On its...

SPI Advisory, LLC (“SPI”), the Dallas & Austin-based multifamily private equity firm, announced the sale of Oaks on Marketplace, a 254-unit, Class A apartment complex constructed in 2017 and located at 20400 Marketplace Avenue in Kyle, Texas, the third fastest-growing city in the country. Located along the high-growth...

Walton Global, a real estate investment and land asset management company and sponsor of private placement investments, announced the sale of nearly 140 acres within the Cotton Gateway Master Planned Community in Caldwell County, Texas. The buyer was homebuilder Lennar. The entire master plan, originally consisting of 510 total acres,...

, Step into the 21st Century only five minutes away from the sixth stop on the Home Tour in your motorized buggy ride to experience the master- planned community of La Cima in the Texas Hill Country, hailed by Forbes magazine as the “next great metropolis.” Spanning over 2,400 acres, La Cima offers distinct new home designs with Hill Country views by a distinguished line-up of builders. The Perry Home and the Highland Home in La Cima will be the final two homes on the 47th annual Home Tour hosted by the Heritage Association of San Marcos. While the theme...

BUDA — At the April 16 meeting, Buda City Council tabled a proposed development agreement for a 98.96-acre residential development, known as The Reserve. This comes after the council postponed the project at an earlier meeting on April 2. Located between Cole Springs Road and Old Black Colony Road, the proposed development would have more than 230 single-family lots, parkland and open space. Along with the development agreement, a municipal utility district (MUD) and annexation request are also being considered. Developers for The Reserve have filed a petition with the city, seeking the creation of Buda MUD No. 2 in accordance with state law to finance infrastructure related to the development, according to agenda documents. MUD financing would allow for the following major enhancements, according to applicant Elliott Jones: • Cole Springs realignment and extension to FM 1626 and the North/South Collector: $10,504,585 • 8.6 acres parkland greater than code ($645,000 at $75K/acre) • Trails and parkland improvements: $706,238 greater than code • Density (2.3 homes/acre); Executive Housing “This MUD is a financing vehicle. We're using it to absorb as much of the cost burden as we can to construct this infrastructure,” Jones said. “However, being mindful of the tax rate our consumer will pay, since buyers tend to purchase based on payment, and taxes are a component of the payment, we're cautious not to set that tax rate too high either.” The MUD has a proposed tax rate of $0.75 per $100 of assessed valuation. The development agreement caps the total bonds issued to $25.2 million, unless otherwise approved by the city council, according to Jones. “Of course, the city can dissolve the MUD at any time it determines it is beneficial to the city and the city would then assume any remaining debt,” Jones continued. “Since this project is already in the city limits and paying city taxes, presumably the city would not dissolve the MUD until the debt is paid off, but once it is, that is kind of the anticipated fade of the MUD that it would be dissolved and there would no longer be a MUD tax.” Another component of the project includes project right-of-way acquisition costs, which according to city manager Micah Grau, are between $500,000 and $700,000 out of the project’s total cost of $34 million. Council member Matt Smith questioned if the developer would be able to pay for the right-of-way acquisition. “We throw all these numbers out. This gets really frustrating because one number we never see is the margin … We throw all of our numbers, everything is above board, the taxpayers pay for it [and] we bend over backwards for these projects. They are beautiful projects, by the way, never had a problem with that,” Smith said. “It’s exactly what we asked for, except when it comes to one piece of it, which is a sticky wicket, that is the city comes in and says we are going to condemn or eminent domain, or use whichever phrase you want to use, and acquire it. That’s when you guys say, ‘No, no, $500,000-$700,000 is too much on a $34 million project' where we don’t know what your margins are, if you can afford it or can’t afford it.” “I know why you want to avoid it, same reason why we want to avoid it. I just think that, at minimum, you guys could at least pay for it,” Smith continued. “I mean it's part of the project. I don’t understand that part.” Jones responded: “I can’t fund it. It’s just the bottom line. I showed this to council at the last presentation. The financing is a percent of the budget for Colony compared to Reserve, you might recall that. Colony is 55%, this project is 48%. Ultimately, there is a breaking point with everything. We are putting as much cost on a project with 233 lots as we can. It would require increasing a tax rate or being part of the TIRZ, and I don't want to increase the tax rate, and I don't think the city wants to include us in the TIRZ.” The council tabled the proposed development to continue negotiations with the developer about the right-of-way acquisition. The Reserve will come back to the city council at its next meeting on Tuesday, May 7. To listen to the full discussion, and view the agenda documents, visit bit.ly/4aK9ibr .

Sendora Trace Apartment homes celebrated its grand opening and ribbon-cutting April 16. (Sierra Martin/Community Impact) A new 399-unit multifamily apartment complex in San Marcos is wrapping up construction. Sendero Trace Apartments, located off of I-35 near the Tanger Outlets, began leasing in March and celebrated its grand opening April 16.

The number of homes under contract this March in San Marcos decreased by about 28% compared to March 2023. (Courtesy Pexels) The most recent data compiled by the Four Rivers Association of Realtors showed median home prices in Kyle and Buda decreased slightly year over year from March 2023 to March 2024. In San Marcos, however, median homes sales prices increased nearly 6.1% to $350,000.

Kindred Uncommon will offer one - and two-bedroom units equipped with washer, dryer, dishwasher and refrigerator. (Courtesy KRDB) High interest rates have put a pause on downtown Buda development Kindred Uncommon—a "pocket community" tailored to individuals 55 and up. The Kindred Uncommon team had plans to break ground in...

, Built in 1908, the Joyce – Hansen home is a craftsman bungalow with railings and window trim that add classic Victorian touches. After over 115 years, it stands as a proud testament to quality craftsmanship and design. Its original owner, The Reverend William Joyce, was in his seventies when he built his beautiful home on the Burleson Street hill behind the Coronal Institute. The location was fitting considering Joyce’s background. During the war between the states, Joyce, like most men in Texas during that time served in the Southern Army. But instead of carrying a firearm during the conflict, he...

Anthem is a large, master-planned community on the west side of Kyle, Texas. Cathy Sanders, Online Sales Director for Scott Felder Homes in Anthem, spoke with Studio 512 about what sets Scott Felder Homes apart. What sets Anthem apart from other communities in the Austin area?. “Three things: location, community...