Tesla's Largest Plant Coming To Austin

No matter what you think of Elon Musk or his famous brand, Tesla, a decision this past month on selecting Austin for the site of Tesla’s biggest production plant is a win for all Austinites, especially in these pandemic times. Tesla’s new plant is slated to bring on 5,000 new employees in the Austin area who will specialize in assembling two models for Tesla: its new pickup truck slated to be introduced next year, and a Tesla SUV that is already in production. Tesla plans to pay an average salary of $47,147, with entry-level positions starting at $35,000.

Incentive to Come to Austin

Musk was looking for a centralized location in the country for his new plant, and while other locations like Tulsa, Oklahoma, put up a good fight, the city of Austin won out due to its overall incentive package.

Tesla will build on a 2,100-acre site in Travis County near Austin and will receive more than $60 million in tax breaks from the county and a local school district over the next decade. Work on the plant, which will be over 4 million square feet, is already underway, Tesla CEO Elon Musk said.

Where Will Tesla Locate?

Tesla is building the factory on a plot of land east of the Austin-Bergstrom International Airport, next to about two miles of Texas’ Colorado river. The land is largely unused right now, although a sand and gravel mining company does operate in the center of the development.

Future site of Tesla plant in Southeast Austin

The Irony

While we are happy to have this economic boost come to Austin, the irony of Tesla choosing ATX as its largest location is that currently, Tesla isn’t allowed to legally sell its vehicles in Texas. Why? Because Texas state law requires that cars can only be sold through franchised dealers, not company stores like Tesla. We will see if that law flexes over time, but for now, Texans will only be allowed to make Teslas, not buy them!

More Efficient, Easier on the Environment

While many Tesla executives were pushing for Austin as the next choice, the ultimate reason Tesla chose Austin was to cut down on its delivery timeline to customers in the Northeast. East Coast customers will no longer have to wait for a car to be transported from Tesla’s Fremont factory in Northern California, and the company will save on fuel and transport costs as well.

What do you think about Tesla coming to Austin? Let us know in the comments below!

The Waterloo Greenway Project

We all know that Austin is known as the “Live Music Capital of the World.” But now, thanks to Phase I of the Waterloo Greenway Project, Austinites will soon be able to listen to that live music in one of the newest outdoor amphitheaters in the world.

Currently under renovation, Waterloo Park is 11-acres and sits between 12th Street and 15th Street along Red River Street. The renovated Waterloo Park will include more than 1.5 miles of tree-lined hike-and-bike trails and a 150-ton heritage live oak from the State Capitol Complex that was relocated to Waterloo Park in February of 2019.

However, the main attraction of Waterloo Park will be the new outdoor Moody Amphitheater that will hold 5,000 people for concerts and performances. The space will also have rooftop terraces and VIP viewing platforms. Just this week, this venue became even more promising for music loving Austinites, as the Waterloo Greenway Project announced its new partnership with booking agencies C3 Presents and Live Nation, ensuring that this amazing new venue will book and sell tickets to some of the best acts in the country.

Above are pictured: Moody Amphitheater under construction; a rendering of the completed concert venue; Waterloo Park Hike & Bike Trail Renderings Photo Credit: Waterloo Greenway Conservancy.

Waterloo Park and Moody Amphitheater are just Phase One of the Waterloo Greenway Project and are set to be ready for use in the Fall of 2020. However, once the entire Waterloo Greenway project is complete, the greenway will be a 35-acre park system that runs from East 15th Street and along the eastern edge of downtown to Lady Bird Lake. The Waterloo Greenway will eventually connect the greenway from The University of Texas all the way to Lady Bird Lake through one continuous three-mile path of trails. This will also connect to the Ann and Roy Butler Hike-and-Bike Trail and Shoal Creek Trail.

The cost of the Waterloo Greenway Project is projected to be $250 million dollars and is expected to be paid for by a combination of public and private funds. Through bond funding and other sources, the City of Austin has committed approximately $150 million. Waterloo Greenway officials say they have plans to raise the remaining $100 million from individual, foundation, and corporate contributions, grants, and more. For more information about or to donate to this upcoming park project, click the button below!

And, in addition to UT Football, start clearing some of your 2020 fall weekends to hang out and listen to live music in our amazing new Waterloo Park and Moody Amphitheater!

Music Lane Development Coming to South Congress

Music Lane is a mixed-use project developing on South Congress Avenue and will have a variety of tenants, which include retailers, restaurants and businesses. The project will cost $55 million and is located at 1009 and 1011 S. Congress Ave. Music Lane will be comprised of two three-story buildings and one four-story building, all designed by Lake Flato Architects.

Music Lane, which is named after the small street that serves as the property’s eastern border, is slated for completion in spring 2020.

The development has 163,000 square feet of space and will include 25 retail, office and restaurant tenants when fully leased. It will also have about 500 underground parking spaces.

One of the first tenants to sign with Music Lane was Soho House, a trendy, members-only social club that plans to open its first Texas location on SoCo. Soho House will include a hotel with rooftop and club spaces for members to work, eat, drink and relax.

Equinox, an upscale fitness club, has also announced plans to be a Music Lane tenant.

Other Music Lane tenants will include:

• Jewelry designer Nak Armstrong

• Manready Mercantile, an apothecary, candle and apparel store

• Tuft & Needle, specializing in premium mattresses, bedding and bedroom furniture

• Sustainable women’s clothing and accessory retailer, Reformation

• Luxury perfume retailer Le Labo

• Menswear retailer Buck Mason

• Mediterranean restaurant Aba

Music Lane; Endeavor Real Estate Group

Project Catalyst, Recently Renamed "4700 East," Still Moving Forward

In its August meeting, the Austin City Council approved the re-zoning measures required for Project Catalyst, recently renamed 4700 East, to keep moving forward. If the mixed-use development project proceeds as planned, it will sit on a a 97-acre site in Southeast Austin and will neighbor Oracle’s new 40-acre corporate campus.

Often referred to as Austin’s future “Third Downtown" (with the Domain North being Austin’s “Second Downtown”), Nimes Capital has proposed building 4,700 residential units, 600 hotel rooms, 4 million square feet of office space, 60,000 square feet of medical and dental office space, and 435,000 square feet of ground-floor commercial space at 4700 East. In short, an “urban village” would be created in this area near the corner of East Riverside Drive and South Pleasant Valley Road that would basically offer, well, everything!

The city could require developers to offer hundreds of income-restricted affordable housing units, but it would only do so if the developers build structures above the restricted height of 60 feet. To maintain the promise of affordable housing in the area, the developer is currently promising that 8-12% (400-550) of the units will be income-restricted as a trade off for greater building heights. Additionally, the developer formally committed to reserve 10 units for people who are transitioning out of homelessness. These housing units will be paid for with vouchers supplied by the Ending Community Homelessness Coalition.

In order for 4700 East to be built, there are some other buildings that will need to be removed for this project to move forward. For this reason, developers have been slowly purchasing apartments in the area over the course of the past several years. The buildings that would be removed, which are roughly 60% student-occupied, are The Ballpark North and Town Lake, as well as the Quad East, West and South. The properties account for a total of 3,702 bedrooms and 1,308 units, according to city documents. Developers will also ensure gradual displacement of current residents in the area—250 of the existing units on site will not be redeveloped or demolished for five years in an effort to defray displacement.

Construction is not envisioned to begin on 4700 East before 2020. However, once the project is officially approved by the Austin City Council, the development will be built slowly over a 25 year period in five different phases along the way. The developer will return to the city council for a third and final hearing in September, at which it will need to receive at least six votes in favor to pass.

Austin FC

The City of Austin has it all—live music, great food, hike & bike trails, and fantastic schools.  But, for a long time, the city has lacked one ingredient that some would say is essential to a major city.  In fact, as the 11th most populous city in the United States, it is highly unusual that Austin doesn’t yet have several of these yet... 

What ingredient are we talking about?  That’s right—a professional sports team.  The University of Texas hasn’t minded the absence, as college sports have basically been our pro team of choice in Austin.  Avid pro fans can also always look north to Dallas, south to San Antonio or east to Houston to scratch the itch even more.

In 2016, the Austin Sol (ultimate frisbee) became the very first professional sports team in Austin, although most Austinites would be hard pressed to tell where and when they play (Can you?).

However, on September 5th, everyone will know that a PROFESSIONAL sports team is coming to town.  Austin FC, a Major League Soccer (MLS) team will host a groundbreaking ceremony for a $242 million North Austin soccer stadium. The stadium site, located on 24 acres at McKalla Place near The Domain, is on track to host the league's 27th team beginning in the spring of 2021.

According to the Austin Business Journal, Dave Greeley, the president of the Austin FC parent company Two Oak Ventures, hopes to make an additional announcement in the coming weeks about the details of a separate training facility for the team that is also in the works. 

In addition, we all know one of the investors in Austin FC. We know him not just from the movies, but also from his face at all of the UT home games.  Matthew McConaughy has joined the investor group bringing the team to town.  According to McConaughy, "Austin FC is a healthy investment in our city's culture and future. The most diverse and borderless game in the world is now coming to one of the most multicultural, creative and diverse cities in the world."

So, Austin…How should we react to getting our first MAJOR professional sports team?  Well, in the words of McConaughy, I guess we should all just say, “All right. All right. All right!”