​​ AUSTIN – American Landmark has spent $311 million on properties in Austin, Houston, San Antonio and Irving totaling 2,284 units.
The 350-unit Hyde Park at Ribelin Ranch at 9900 McNeil Dr. The garden-style community was 96 percent leased at the time of purchase. It will be renamed the Asten at Ribelin Ranch.
​The 576-unit Hyde Park at Wells Branch at 2801 Wells Branch Pkwy. It was 93 percent leased at the time of sale and will be renamed Beck at Wells Branch.
Other properties recently acquired by American Landmark include Hyde Park at Lake Wyndemere and Hyde Park at Enclave in Houston, Manor at Castle Hills in San Antonio, and Lakepointe at Las Colinas in Irving.
​​​​ AUSTIN – Trammell Crow Co. and Clarion Partners have broken ground on the second phase of Park 183, an industrial development at 8219 Burleson Rd.
This phase includes an 85,000-sf building that is fully preleased to FedEx Corp. It will be completed in fourth quarter 2019.
The developers have completed design and submitted permits for Phase III, which will consist of two Class A industrial buildings totaling 300,000 sf. Construction will begin in second quarter 2019, with delivery scheduled for 2020.
PLANO – USAA has opened a new, 150,000-sf office building adjacent to its existing location in Legacy Corporate Center.
The facility will house up to 850 employees; USAA’s Plano and Dallas offices currently house more than 1,200.
According to the Dallas Morning News, developer Cawley Partners built the project.
​​​​ BIG SPRING – Quorum Health Corp. has sold Scenic Mountain Medical Center to Steward Health Care for approximately $22 million.
​ ​HOUSTON – Avenue CDC has broken ground on a new 30,500-sf mixed-use community center at 3527 Irvington Blvd.
an early childhood education center.
Construction will wrap in early 2020. Architecture and engineering firm Page is designing the building. Trammell Crow Co. is the development manager. Arch-Con Corp. is the general contractor.
​AUSTIN – The local hotel market saw a stable year through 2018 as demand remained steady, although slightly declined from 2017, with an overall rise in average daily room rates, according to CBRE’s recent Hotel Horizons report.
The forecast shows occupancy will rise 0.2 percent by the end of 2019 to 70.4 percent. It will rise another 0.1 percent in 2020, well above the long-run average of 67.2 percent.
The average daily room rate is predicted to rise 1.4 percent by year end with a continued 1.7 percent rise in 2020.
Austin will continue to see a gain in room night demand of 5.6 percent through 2019, greater than the long-run average of 3.6 percent.
​​​​ ​​​​CEDAR PARK – The Altman Companies has sold Altis Lakeline at 12700 Ridgeline Blvd. to a partnership including Starlight Investments.
The 354-unit multifamily property was built in 2017 and offers one-, two-, and three-bedroom apartments.
​​​ ​SAN ANTONIO – Welltower Inc. has bought a 335-unit senior-living portfolio in the Dominion from South-Bay Partners.
The properties included the 230-unit Watercrest at Dominion and its neighboring 105-unit Isle at Watercrest Dominion.
Both facilities, which are on the 6800 and 6900 blocks of Heuermann Rd., offer independent-living, assisted-living, and memory-care options, as well as one-, two-, and three-bedroom units.
The Bexar County Appraisal District last assessed the two properties for $48.6 million.
​​​FORT WORTH – Local home sales increased 6.2 percent to 1,129 homes, according to the Greater Fort Worth Association of Realtors' March 2019 Housing Report. The data came from the Real Estate Center ​and Texas Realtors.
​​​​HUTCHINS ​– A consumer packaged goods manufacturer has leased a 1.1-million-sf, cross-docked industrial building at 1200 Fulghum Rd. in the 252-acre Southport Logistics Park.
​​​ ​PLANO – Cinépolis will open a 40,000-sf, ten-screen movie theater at The Shops at Willow Bend in 2020.
The theater will include fully reclining seats and in-theater food and drink service.
The Shops at Willow Bend is at 6121 W. Park Blvd.
​​​​ ​IRVING – The $113 million Westin Irving Convention Center at Las Colinas off SH 114 at 400 W. Las Colinas Blvd. ​​has opened.
The 350-room hotel, which has been under construction since 2017, includes 30,000 sf of meeting space, a 10,000-sf ballroom, and an event lawn.
Dallas-based BOKA Powell designed the 13-story tower. Waldrop + Nichols Studio was the interior designer, ​Austin Commercial was the general contractor.
The hotel is owned by Provident Resources Group and was developed through a public-private partnership between the city and Garfield Public Private LLC.
​​​​​​​AUSTIN – Citywide home sales dipped last month as the median price rose, according to the March 2019 Central Texas Housing Market report by the Austin Board of Realtors.
​​​​ HOUSTON – GreenSpace Holdings LLC has purchased the former Greensheet printing building with plans to convert it to a self-storage facility.
The 40,000-sf industrial property on 6.2 acres at​​ 1960 N. Loop W. was valued at $6.3 million in January.
Avison Young represented the seller, Helen Gordon Interests Ltd.
​​​​ HOUSTON – Moody Rambin will begin work in June on a 185,000-sf building next to CityCentre and Town & Country Village at the eight-story Town Centre Two at 730 Town & Country Blvd. It will cost an estimated $22 million.
​​​​​SAN ANTONIO – The hotel market finished 2018 with increases in occupancy, average daily room rates (ADR), and revenue per available room (RevPAR), according to CBRE’s latest Hotel Horizons.
Occupancy rates were up 1.6 percent and are expected to rise 0.4 percent in 2019, reaching an overall occupancy rate of 66.2 percent. Due to new hotels being built, occupancy is predicted to drop by 1.7 percent in 2020.
ADR gained 3.7 percent last year. It is estimated to increase by 3.2 percent in 2019 and an additional 2.8 percent in 2020. resulting in an ADR of $122.75 by the end of 2020.
​​​​​​EL PASO – Last month, 708 single-family home sales closed, up 34.6 percent from 526 closed sales in February, according to the Greater El Paso Association of Realtors' "Monthly Listing Snapshot" report.
​​​CORPUS CHRISTI – Steel Dynamics Inc. will build a $1.8 billion steel mill, and it's asking the local school district for tax cuts before it decides.
The company wants the district to cut property taxes on the proposed facility by 70 percent, which would save the company $149 million over ten years.
To operate the mill, Steel Dynamics plans to hire 500 workers at an average wage of $76,000 per year.
The property on 2,621 acres along US 77 consists of five parcels with a total value of $4.3 million.
Construction will begin in fourth quarter 2019 and wrap up in 2021.
​​​​KYLE – Sentry RV & Boat Storage will open this month at 231 Graef Rd.
​​​​PLANO – Japanese luxury hotel group Kintetsu Enterprises Co. of America will build its first Texas hotel in Dreien Opportunity Partners' Campus at Legacy West.
The Miyako Hotel and a parking garage will be near the intersection of Legacy Dr. and Corporate Dr. on the site of the former J.C. Penney corporate headquarters complex.
​The ten-story, 250-room hotel will be on a pond with a boardwalk and surrounding offices and retail.
Construction began on the redevelopment last year.