Centurion American to build 2,200 homes in Van Alstyne

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Today's newsletter is 592 words — a 2.5-minute read.

1. Affordable housing coming up near Tesla gigafactory

NRP Group, PointOne Holdings, and the Travis County Facilities Corporation have started construction on a 328-unit affordable housing development at 6205 Ross Road in Southeast Austin, near Tesla’s Gigafactory.

Half of the units will be allocated for residents earning between 60 percent and 80 percent of the area median income.

The four-story, 16.5-acre development will offer one- and two-bedroom floor plans ranging from 685 to 1,350 square feet. About 8 acres will be dedicated to amenities including a pool and a dog park. It is expected to be completed in 2026.

2. Keller Williams launches resource guide for agents to navigate NAR settlement

Keller Williams has launched a resource guide for agents to navigate NAR settlement. The guide, which includes video, podcast, and PDF resources is available to agents regardless of their brokerage affiliation.

The resource guide is focused on helping agents navigate the business practice changes outlined in the National Association of Realtors (NAR) commission lawsuit settlement agreement. LINK

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3. Catch up quick

🤩 10 most beautiful small towns in Texas according to WorldAtlas.

🦟 Dallas, Houston, and Austin are among the buggiest cities in the nation. (Thumbtack)

🤔 Policy: What happens when you give people money to buy houses? (Axios)

📱 San Antonio realtors develop homebuying app for post-NAR settlement. (BizJournals)

👯‍♀️ Fun read: Two sisters born in South Korea and adopted in Texas and Sweden reunited at Dallas-Fort Worth Airport after 50 years. (DallasNews)

4. Centurion American to build 2,200 homes in Van Alstyne, Texas by 2026

Centurion American is planning a 667-acre residential community that will bring 2,200 new homes to Van Alstyne.

The new community, not yet named, will feature a mix of single-family homes, 300 townhouses, two amenity centers, 110 acres of green space, a pocket park, and a 20-acre athletic field to be maintained by the City of Van Alstyne.

Groundbreaking is scheduled for Q4 2024, with the first lots expected to be ready by Q2 2026.

5. More landlords offering incentives to get more renters

Austin was one of six major metropolitan areas where over half of the rental listings included a concession in July, with 50.5% of properties indicating discounts.

Nearly 48% of listings in Dallas and about 35% in Houston also mentioned discounts.

Zillow said the share of listings offering incentives, like free parking or a few weeks rent-free, is up to 33.2% compared to August 2023, when only 25.4% of landlords were offering incentives. LINK

6. Dallas ranks #2 on the list of new apartment construction in 2024

2024 is the first year in the history of U.S. apartment construction in which the number of completions will surpass the 500,000-unit threshold and two Texas cities are topping in the rankings.

Top 20 U.S. metros for new apartments in 2024

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