550-home development planned for Southeast Austin

Mar 20, 2014
Austin American Statesman

As Central Texas’ housing market continues its rebound, a developer has started construction on a 200-acre community that is expected to bring up to 550 new homes to Southeast Austin, about 2 miles south of Austin-Bergstrom International Airport

Brookfield Residential, a North American land developer and homebuilder, broke ground Wednesday on Addison, which is off U.S. 183 and east of Interstate 35, in a part of the region destined for more growth

“This city is in the midst of a remarkable housing recovery, with 10,000 home starts predicted in the next 12 months,” Cranston said. “A lot of this development is being fueled by in-migration of nearly 1,000 people per week, and we feel southeast Austin, where Addison is located, is poised for major growth.”

Brookfield plans another master-planned community in southeast Austin called Easton Park, which is due to break ground later this year

The housing market in the greater Austin area is seeing heightened demand due to the region’s job and population growth but a limited supply of both new and resale homes. Some of the more desirable parts of the region have a shortage of lots that are shovel-ready to build homes on

“With our new-home market continuing to strengthen, and the supply of available lots remaining tight in many areas, builders will welcome the lots that Brookfield is bringing online in Addison,” said Eldon Rude, principal of 360 Real Estate Analytics, a market research and consulting firm. “Brookfield’s reputation for developing communities with quality amenities for its home buyers, such as its Blanco Vista project in San Marcos, gives the builders who choose to build in their communities confidence that the project will be successful.”

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