Daily Briefing: 🌇 Austin Rises! 35 Stories High & IBM's Big Tech Leap 🖥️

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Here’s what you need to know about CenTex CRE Today:

1. Austin's Skyline Shines: 35-Story Luminary Tower Set to Dazzle Downtown 🌆

2. IBM's Bold Move: 50,000 Sq Ft Lab Space Leased in North Austin 💼

3. Community First! Village Expands: Tiny Homes Combat Austin's Homelessness 🏘️

4. Smalls Sliders Sizzle: Fast-Food Chain Eyes Austin for Expansion 🍔

Commercial and Corporate Real Estate Developments

35-story condo tower could 'luminate' downtown Austin

Source: Texas Real Estate News Network

Summary: Northland Living, a developer, is planning a 35-story condo tower in Austin at the corner of 14th and Guadalupe streets. Named 'The Luminary', it will feature 286 residences ranging from one to three bedrooms, with prices from about $600,000 to over $3 million. The plan includes 4,800 square feet of street-level retail space and a restaurant. The tower will also provide 6 1/2 levels of parking, an amenity deck, and one floor dedicated to office space.

Why this matters: Understanding the details of this new development can enable commercial real estate professionals to identify potential investment opportunities for their clients, especially those interested in retail or office spaces.

IBM joining Parmer Impact Labs in north Austin

Source: KXAN News

Summary: IBM is collaborating with Karlin Real Estate to establish a new development lab in north Austin, Texas, following the signing of a 50,000-square-foot lease at Parmer Impact Labs. Parmer Impact Labs is an innovation hub offering lab and office spaces for businesses, research institutions, incubators, and accelerators. IBM's Austin team, which focuses on AI software, infrastructure, services, design, and marketing work, will use the new technical space to upgrade their lab facility to meet the needs of future development.

Why this matters: The expansion of IBM into the Parmer Impact Labs emphasizes north Austin's increasing significance as a hub for corporate growth and innovation, highlighting potential opportunities for commercial real estate professionals to align their clients with emergent technology and business hubs.

Innovative Housing Solutions

Texas Tiny Home Community Thrives With 2,000 Neighbours: Easing Homelessness in Austin

Source: Goodshomedesign.com

Summary: The Community First! Village, a tiny home community in Travis County, aims to combat chronic homelessness by providing affordable, secure housing for formerly homeless individuals. The village, which has been operational since 2019, currently accommodates 200 residents but has plans to expand to house nearly 500. A subsequent phase of the project aims to increase the number of tiny homes to 2,000, with design assistance from architectural firms and financial support from the American Rescue Plan, the Michael & Susan Dell Foundation, and federal housing vouchers.

Why this matters: Understanding the growth and success of this project can help commercial real estate professionals identify new market opportunities and advise clients interested in social impact investing or affordable housing projects.

Business Expansion in the Food Industry:

Smalls Sliders eager to have restaurants in Austin area

Source: Austin Business Journal

Summary: Smalls Sliders, a fast-food restaurant, has signed a deal with a local entrepreneur to open multiple units in Austin. The company is also looking for another franchisee to expand its presence in the metro area. The article covers the real estate strategy of Smalls Sliders and includes a list of potential retail centers in Austin.  

Why this matters: Smalls Sliders has already signed a multi-unit deal with a local entrepreneur, and the company wants to plant more stores across the metro with an additional franchisee. This story looks at the real estate strategy for the company and the locals involved. A list of retail centers in the Austin area is included at the end of this report.