Friday, July 10, 2015
San Antonio came in 23rd on a list of the top 23 expensive places to rent for young adults, The San Antonio Business Journal reports.
The report was done by Zillow for Bloomberg and looked at 50 cities around the United States. Millennials can't afford almost 51 percent of all the residential housing in San Antonio.
Miami was the most unaffordable for the younger set, with 92 percent of real estate priced too high for millennials. Houston was the most expensive city in Texas for that demographic, then Austin, Dallas and San Antonio.
The list used millennial's median income and looked for rental listings that were one-third or less of those earnings.
Posted by Lisa Pegues at 10:38 AM
Labels: San Antonio rent too expensive for millennials, San antonio rent too expensive for young adults, young people priced out of san antonio rental market
Wednesday, July 8, 2015
The Austin Music Hall will be demolished, Culturemap reports, to make way for an office tower.
The Austin Music Hall was built in 1995 and had a multi-million-dollar makeover in 2007, but still struggled. The owners filed for bankruptcy in 2012.
In fall of 2014, it was purchased by Cielo Property Group, who has unveiled plans to turn it into a 28 story glass office building. The space will have traditional office space and three larger sections with an open concept layout. The ground floor will be for retail or restaurants. Construction will start early next year and is scheduled to be complete by the end of 2017.
The current owners said that downtown office space continues to be in demand, and even with all the new construction, space is still scarce. The new office building will offer a great location with fantastic views and lots of amenities in the building and close by.
Cielo will still own the Austin Music Hall brand and is on the hunt for another smaller music venue to open using the name. Concerts and events will be held at the current location through the end of the year.
Thursday, July 2, 2015
A new 310 unit #apartment community named Legacy Flats is ready to start construction, the San Antonio Business Journal reports.
The $30 million dollar project expects to have rents averaging $1.28 per square feet and is relying on the fact that it will have frontage on Shaenfield Road and secondary access onto Loop 1604 to set it apart from the competition.
The 12.47 acre project will be a garden community with a modern, Hill Country vibe and will have over 265,000 square feet of space that can be leased. Apartments will have amenities including granite counters, stainless steel appliances, wood-style plank flooring, track lighting, walk-in closets, and washer and dryers in some units. The community will have a resident lounge with Wi-Fi, a game room, and a fitness center, as well as 18 garages available for rent and 105 carport spaces.
The project is targeting young professionals who work in the area and want a short commute. Units will range from 1-3 bedrooms and 561 and 1,331 square feet, with a rental range of $825 to $1,600.
Ready to find a new apartment in the San Antonio area? San Antonio Apartments Now can help! Give us a call today at 210-255-3074.
The Austin Business Journal reports that Travis County's employment growth last year was among the highest in the nation. This is according to a report from Headlight Data that used numbers from the Department of Labor's Bureau of Labor Statistics.
In 2014, Travis County had 4.2 percent growth, which was number three for counties in the United States with more than 1 million people. 26,585 new jobs were added last year for a total of 654,809 in the county. Unemployment is also at the lowest level it's been since 2001.
Other Central Texas counties did even better, though. Williamson County's employment rate grew at 4.3 percent and added 5,955 new jobs for total of 145,121. Hays added 2,555 new jobs, an increase of 4.6 percent. Bastrop County, on the other hand, was one of the slowest job-growth counties in the Austin area, adding just 435 new jobs, which is an increase of 2.9 percent.