Daily Briefing: 💎 Hill Country's $8.75M Jewel: Where Luxury Meets Sustainability 🌄

September 15th, 2023 News Brief TLDR:

1. Austin City Council eyes tiny homes, RVs as new housing options. 🏡

2. Texas cities reform minimum lot sizes for urban development gains. 🏗️

3. Hill Country ranch listed at $8.75M promises luxe self-sustainability. 🌄

4. Austin ranks high in climate resilience, according to CBRE study. 🍃

URBAN DEVELOPMENT & HOUSING

Council considering allowing tiny homes, RVs as accessory dwelling units

Source: AustinMonitor.com

Summary: A proposed resolution is being discussed by the City Council in Austin, speculating changes to city zoning regulations. The idea sees the consideration of tiny homes and RVs as accessory units to single-family residences in an effort to provide more affordable housing. Council Member Leslie Pool, with support from various other members, is advocating these changes and hopes that if homeowners are given permission to add a tiny home to their property, it can provide numerous benefits, including passive income and providing for family members or tenants. The resolution requires updated changes, by November, to the Land Development Code and, per concerns over its potential use for short-term rentals by new tenants, it suggests regulations also be set in place establishing stipulations such as codes for fire safety, the distance between properties, and, importantly for homeowners, keeping under allowable maximum number of dwelling units.

Why this matters: Commercial real estate professionals in Austin can leverage these zoning changes to advise clients on potential investment opportunities, and guide homeowners on the regulatory requirements of introducing accessory units on their property, thereby catering to a rising trend of affordable and environmentally conscious living.

Minimum Lot Size Reform Is Gaining Traction in Texas Cities. That’s a Good Thing

Source: Reddit.com

Summary: The reform of minimum lot sizes is becoming more and more prevalent in Texas cities, presenting beneficial opportunities in terms of urban development and property value enhancement.

Why this matters: Being abreast of zoning modifications, notably minimum lot sizes' reform, will empower Central Texas commercial real estate professionals in advising their clients of emerging investment possibilities or predicting potential changes to existing commercial real estate values.

REAL ESTATE & LUXURY PROPERTIES  

Extraordinary self-sustaining Hill Country ranch hits the market for $8.75 million

Source: AustinCultureMap.com

Summary: An attractive, self-sustaining Hill Country estate of over 260 acres has been listed at $8.75 million. Located in Hye, the Lonesome Valley Ranch provides perfect coordination of privacy and recreation, housing four conveniently decked-out buildings and attractions such as an NBA-sized basketball court, a tennis court, and a pickleball court. Offering striking Hill Country views, the off-the-grid especially equipped ranch promises potential yearly revenue of $200K-$300K through event hosting or rentals while still remaining a family compound.

Why this matters: Commercial real estate professionals can foreground the property's off-the-grid capacities, versatility for events and gatherings, and location in relation to esteemed wineries and distilleries to persuade clients investing in properties that combine lucrative elements and legacies of Hill Country living.

SUSTAINABILITY & ENVIRONMENTAL IMPACT

Talking Headways Podcast: Better Land Use Reduces Transportation Emissions!

Source: USA.StreetBlog.org

Summary: Zack Subin of the Turner Center for Housing Innovation and Ben Holland of Rocky Mountain Institute discuss their recent report on the positive environmental impacts of urban land use reform. Recognizing compact, connected communities as ecologically beneficial due to lower greenhouse gas emissions, their study involved in-depth analysis of alternative growth scenarios for three rapidly expanding cities: Austin, Charlotte, and Denver. Key findings include potential reductions in vehicle miles traveled, building energy use, and greenhouse gas emissions, while saved land consumption could reach up to a staggering 82% under their smart growth scenario that emphasizes infill development, transit-oriented development, and broad upzoning.

Why this matters: As Austin's development strategies remain under scrutiny due to rapid growth, understanding the ramifications of different land use policies can provide commercial real estate professionals with critical knowledge to recommend eco-conscious urban development practices to clients and to capitalize on investment opportunities in locations prioritizing smart growth or transit-oriented development.

DC Well Positioned to Withstand Climate Changes

Source: CommercialObserver.com

Summary: Austin, Texas, has been cited as one of the top cities in North America best equipped to weather the economic repercussions of climatic changes due to the impressive slate of mitigative and adaptive measures it has adopted, a study by CBRE reveals. Preparedness was evaluated based on several parameters inclusive of emissions-reduction objectives, readiness for climate facts and green financing among other factors, promoting higher property values and attracting climate-conscious clients. Washington D.C. tops the list as nearly half of its commercial buildings conform to the LEED standard alongside other eco-friendly initiatives.

Why this matters: Leveraging the city's commendable environmental strides highlighted in the CBRE report, commercial real estate professionals in Austin can market their properties as investment opportunities that meet emerging decarbonization expectations and climate resilience benchmarks, to attract green-eying investors and clients.