Austin has 500 new homes planned for area near Tesla

New apartments, single-family homes in the works for factory neighborhood

National /
Dec.December 30, 2021 04:00 PM

Austin has 500 new homes planned for area near Tesla (Wikipedia)

Austin can’t get enough of Tesla, it seems.

Developers of a master-planned community near the electric vehicle factory under construction submitted plans for 300 new apartments and 200 single-family homes to the city this month, according to the Austin Business Journal. Canadian company Brookfield Residential Properties wants to build the homes on vacant land in Easton Park, a 3,200-acre Southeast Austin planned community it’s developing around the Tesla compound and other new commercial developments.

Civil engineering firm Consort submitted the plans for building new apartments. Brookfield is partnering with Houston-based Hines investment group on the project. The developer also submitted plans for 200 new single-family homes to be sold, part of a future phase of development.

Real estate data firm Zonda ranks Easton Park the fourth most-active area for construction in the city. RCLCO real estate consultants ranked it third in the Austin area for master-planned community sales in 2020. It will have 12,000 new homes in the next eight to 10 years. The community has eight builders: Brookfield Residential (the largest), Taylor Morrison Home, Perry Homes, Pacesetter Homes, Newmark Homes and Meritage Homes.

Home prices range from $234,000 to $674,000. There have been 1,000 closings and many more sales, said Brookfield Vice President of Sales and Marketing Tammy Schneider.

Commercial development in Easton Park is brisk, with more to come. A CVS location, a McDonalds, a car wash, and a Summer Moon Coffee store are all under construction or planned at one of the community’s major intersections.

A nearby green space, Union Park West, is in the design phase and will start construction in 2022. Brookfield also plans to finish several other parks in the community next year.
Built mostly on vacant former farm and ranch land, Easton Park is part of a Southeast Austin expansion that was set off by the 2012 construction of the Circuit of the Americas race track and facilities seven miles east of Easton Park.

[ABJ] — Cindy Widner





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