Industry Updates

July 2010

(RECON, 07/02/2010) – In addition to purchases in Bastrop, Elgin and Leander, Austin Community College (ACC) has agreed to purchase 96 acres in Kyle near the intersection of Kohlers Crossing and Kyle Pkwy. for $9.8 million.

“Acquiring this land now is a good investment,” said Stephen B. Kinslow, ACC president and CEO. “We are and will continue to be the fastest growing institution of higher education in Central Texas. ACC must proactively plan for the future in order to continue meeting the fast and growing educational needs of the region we serve.”

(RECON, 06/25/2010) – According to Census population estimates, Texas is still highly regarded, having four of the ten fastest-growing cities in the country among cities with populations greater than 100,000.

From 2008 to 2009, 11 of the nation’s 25 fastest-growing cities with a population size greater than 100,000 people were in Texas.

Frisco was ranked number one while Austin, Dallas suburbs such as McKinney, Carrollton and Lewisville, and oil centers Odessa and Midland ranked high on the list.

(RECON, 06/25/2010) – A 17-mile urban rail system will cost $1.3 billion to construct in 2012.

The track — which would run almost 16 hours a day, seven days a week — would lead from downtown Austin to Austin-Bergstrom International Airport to the new Mueller neighborhood.

For every year of delay, the cost of the system will increase almost 5 percent. While plans to finalize a 2012 bond package that would help jump start the system are in the works, Austin-based Public Financial Management is planning to be contracted to examine system costs and potential sources of revenue to build, operate and maintain the urban rail system.

Capital Metropolitan Transportation Authority is a partner on the project but will not be involved with the development or construction. Development will be managed from city hall.

(RECON, 06/18/2010) – Dell Children’s Medical Center may expand with a $48.5 million tower so that rehabilitation services can be extended to more patients.

Seton Family of Hospitals will present the financial proposal for the tower to Dell Children’s parent company, Ascension Health, next month.

If approved, construction would begin in late 2012 or early 2013. Patients would not be admitted until 2014.

“The probability that we will get it approved and get it built is very strong,” said Bob Bonar, CEO and president of Dell Children’s Medical Center.

The tower will front Seton’s administrative offices at 1345 Philomena St. and house other services, such as general surgery.

(RECON, 06/15/2010) – The Austin city council has voted in favor of developing Water Treatment Plant 4.

The $849 million plant is expected to create thousands of new construction jobs in addition to producing 50 million gallons of water a day in its first phase.

Austin-based Carollo Engineers PC and Colorado-based MWH Constructors Inc. will be paid $22 million each to design the plant and construct the facility, respectively.

Plant 4 is expected to be operational by 2014.

(RECON, 06/15/2010) – The developer of the $40 million 1155 Barton Springs condo project filed for bankruptcy protection this month after the lender decided not to renew its loan.

PPT Development LP is seeking Chapter 11 protection on the planned project, which would include 24 residential units ranging from 1,600 to 6,200 sf and priced from $1 million to $6 million each.

The development has had various names since 2005, including The Milan. It was slated to break ground in early 2007 so residents could move in by mid-2009.