Google $1B investment in Texas

👋 Good morning. Thanks for joining us this Tuesday.

Today's newsletter is 650 words — a 3-minute read.

1. Residents group derails 3,000 homes proposed by Lennar

On Wednesday, the Texas Commission on Environmental Quality (TCEQ) cleared the way for a court battle against Lennar which is seeking to dump millions of gallons of treated sewer into Helotes Creek daily.

Lennar had applied for a Texas Pollutant Discharge Elimination System permit that would support nearly 3,000 homes on 1,100 acres of land in northwest Bexar County.

If approved, the Guajalote Ranch development by Lennar would release up to 4 million gallons of treated wastewater into the creek daily.

2. Texas Water Development Board adopts first-ever statewide flood plan

Texas officials adopted the state's first-ever roadmap to reduce flood risks on Aug. 15.

The inaugural statewide flood plan finds that over 5 million Texans live or work in flood-prone areas and recommends over $54.5 billion for flood management solutions.

Texas Water Development Board (TWDB) will submit its plan to the Texas Legislature by Sept 1, where lawmakers are expected to consider the plan's recommendations when drafting the state budget and other policies next year.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

Should I Pay Discount Points?

Tune in for my breakdown as I go over Tax Benefits, Costs vs Savings, refinancing your mortgage, mortgage on a new home, and whether it even makes sense.

You can watch the video here!

Got Questions? Feel free to shoot me an email.

3. Catch up quick

🧑‍💼 Nykia Wright named permanent NAR CEO. (NAR)

📈 Houston sees strong July home sales despite Hurricane Beryl. (HoustonAgent)

🏠 Ashton Woods plans almost 1K more homes in Pflugerville. (AshtonWoods)

𝌎 Why new Texas home designs look like "Tetris". (Axios)

🦅 Fun read: $15,000 reward for information on bald eagle nest that was illegally destroyed in Dallas, Texas. (BiologicalDiversity)

4. Google says it'll invest $1B this year in Texas data centers, signs 375MW in solar PPAs

Google is investing an additional $1 billion into data centers to support searches and AI as part of its expansion into Texas.

This figure represents an increase of around 200% from the $330 million investment pledged last year.

Google also announced power purchase agreements (PPAs) with Elawan Energy, Engie North America, Grupo Cobra, and X-ELIO to tap into Texas solar energy. The agreements are anticipated to provide 375 megawatts of carbon-free energy capacity and support the organization’s operations in the state.

5. Travis County voters to determine if affordable child care is worth a property tax increase

Travis County Commissioners on Tuesday unanimously voted to send a property tax rate hike to your ballot this November. The proposed 2.5-cent property tax rate increase will go toward creating new affordable child care.

The tax rate increase would generate roughly $75 million in the first year and cost an average homeowner roughly $125 in that same period.

If passed by voters come November, the money would go towards creating:

• 1,900 childcare slots for babies and toddlers of low-income households.

• 3,900 after-school and summer school slots for elementary-age students.

• Incentives for businesses to grow their childcare options for employees.

6. Apartment rents hit a post-pandemic milestone, more landlords are sweetening their deals

Rental rates on some apartment types slipped in July compared to the same time in 2023, the first time that it has occurred since June 2020.

• Median asking rents for studios and one-bedroom apartments fell 0.1%, two-bedroom apartments fell 0.3% and units with three or more bedrooms fell 2.4% between July 2023 and July 2024, according to Redfin Corp.

Nationally, 33.2% of rental listings on Zillow offered a concession in July, up from 25.4% last year.

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