The Colony Park area in Austin hasn’t had equitable access to healthy food, transit, health care, and jobs since it was annexed in 1973. Since 2012, federal and local groups have been working to change this through the Colony Park Sustainable Community Project. Now that the project has been approved and funded by the city, it is moving toward construction.
Southeast Austin is getting more and more attention from real estate investors, Property owner and entrepreneur Barakat Ali, development company Presidium, and Elon Musk and Tesla have everything to do with it.
The current Austin real estate market is a builder’s one due to a construction boom. According to the Texas Real Estate Center at Texas A&M University analyzing data from the U.S. Census Bureau, the number of new homes that received permitting and are under construction so far this year is 11,165. This construction boom includes single-family homes as well as multifamily rental communities in Austin and its surrounding suburbs.