Austin's Real Estate Development Intensifies
March 23, 2016

Austin's Real Estate Development Intensifies

Austin is one of the hottest markets, not just in the Lone Star State but in the entire country. That's why we're thrilled to bring you The State of the Market event in Austin on March 29.

Cohn Reznick partner Mike Celkis (shown here on the right with Axiometrics' Rick Wilson at a previous Bisnow event) says Austin is a smaller town and has flown under the radar for a long time, but the secret is out.…

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Top stories on Bisnow.com

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Innovation In Practice: The New #CREcosystem

As those of us in the commercial real estate industry continue to discover and adapt to new technology, the basics of business—research, due diligence, networking, relationships and transactions—remain as important as ever. Cushman & Wakefield | PICOR exec Barbi Reuter (snapped here at a recent CREW convention in Seattle) reminds us of our goal when it comes to technology: don't replace these core competencies; enhance them. How: through data and analytics tools, as well as social media. Barbi adds that, while data certainly contributes to decisionmaking, it represents only one piece of the puzzle. While more accessible and accurate data make all the difference when it comes to expanding potential for profit growth and delivering results, success in the digital age lies not in the efficiency of technology itself, but with the people who wield it. Technology doesn't equal change; it gives us great capabilities. For more information on our Bisnow partner, RealMassive, click here. Read the full report, including compelling perspectives from industry influencers at RealMassive.comhere. 

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This Week's Austin/San Antonio Deal Sheet

Indeed, one of the world's biggest job sites, opened its new office at Champion Office Park in North Austin. The company was previously at 7501 N Capital of Texas Highway. Indeed plans to grow from 500 to 1,500 employees at…

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Mueller's Next Affordable Multifamily Development Breaks Ground

DMA Development Co hosted a groundbreaking ceremony for its next affordable residential development today at 11am. The project, Aldrich 51, is part of the Mueller Affordable Homes Program and will be DMA's second affordable multifamily development within the program.  Aldrich 51

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Affordability's A Hot Topic

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Bisnow Exclusive: Sir Richard Branson On Virgin Hotels, Women And The Future of Travel

Jesse Nash
 

When Sir Richard Branson opened his first Virgin Hotel in January 2015, the 26-story, 250-room property in Chicago's CBD, he told reporters he designed it to be “female friendly” to suit the needs of “female business travelers.”

“They were not particularly catered for by any hotel,” Sir Richard tells Bisnow.

His wife, Joan, initially tipped him off to the problem—complaining that there was never enough light in hotels to put her makeup on; most hotel rooms were poorly lit. “This was one of the first things we paid attention to,” he says. “The rooms have been well-thought-out for this. Even when they take a shower, we have a bench in there where they can sit, take their time and do whatever.”

In fact, in the past 10 years, the number of female business travelers has doubled, according to Virgin Hotels CEO Raul Leal, jumping from 25% of the traveling population to almost 50%. “So as we were designing the guest rooms, we decided to design those rooms from the point of view of the female business traveler,” Raul tells us. “We started to have a variety of focus groups, and we started speaking directly to many female business travelers. We wanted to create a better guest room through the eyes of the female business traveler because we just thought they were more discriminating in terms of details.” 

Co-designed by the Rockwell Group Europe and Virgin Hotel's in-house design team, Raul adds what makes a Virgin Hotels guest room different is this: when Virgin is designing something, it already has a point of view about the product before it even overlays the colors, the fabrics, etc. So it's designed to make the room work better. 

“When you walk into a guest room at a Virgin Hotel, it feels like you're walking into a luxurious dressing room,” Leal says, “where you're able to drop off your luggage, your keys, plug in your phone.”

Click here for the full story.

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In Case You Missed It

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Bisnow Sharestates Q&A: Institutional Crowdfunding Is 'Unavoidable'

Real estate crowdfunding is the hot new thing, letting individuals invest in property with as little as $1k (even if there is a little trouble in paradise recently). Real estate crowdfunder Sharestates rakes in 80% of its funds through institutional investors, as opposed to "the crowd"—making us wonder whether this breaks the mold (or the ethos?) of crowdfunding. We went straight to the horse's mouth—Bisnow sat down with Allen Shayanfekr, lawyer-turned-founder of Sharestates for his take on the big guys getting in on the crowdfunding game. 

Bisnow: You guys hit $100M raised through your site, how long did that take, and how much of that was through institutional investors, instead of what we would think of as the traditional “crowd?”

Allen Shayanfekr: That's was mostly over the last 12 months, since our launch in February. It was about 80% institutional, 20% individual. When we originally set out to launch this platform we were of course targeting individual investors, and they still are very much our focus. But we realized that in order to make sure the company was healthy and going to be around for the long haul to eventually catch those individual investors, we needed to be able to drive volume.

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Mission Hills Apartments Get A New Owner, New Look's Next

The 244-unit apartment complex known as Mission Hills sold to Origin Investments and its JV partner F&B Capital. Plans for Mission Hills, on Austin's east side just five miles from Downtown, include an extensive renovation and rebranding to get the…

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Be Part Of Our Austin Hospitality & Lodging Event!

Want to rub shoulders with Mayor of Austin Steve Adler and SXSW director Hugh Forrest? Bisnow's hosting them and a heavyweight panel of hotel experts to discuss Austin's ever-growing tourism market and the massive new projects that are serving it. You can be part of it all—we're looking for sponsors and panel moderators for the event, which starts at 7:30am April 28. Read all about the Hospitality & Lodging event here and email Karen Pierre, karen.pierre@bisnow.com if you're interested in partnering.

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Bisnow Takes Its Talents To Nashville!

Be on the lookout for the chance to rub shoulders with real estate's movers and shakers in Music City, as Bisnow brings its (almost) never boring news and events to Nashville. Hurry up and subscribe to our Nashville newsletter before April 6 to avoid missing any of the latest news and events info.

And keep your eyes peeled for the first Bisnow event in the Wall Street of the South in July.

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Tell Us

Although it's rarely used, the word for half a computer byte is "nibble." Send your news to Catie Dixon, catie@bisnow.com.