Real Estate Blog

In looking at the future of real estate investment in our area, I think it's absolutely essential to understand where the region as a whole is headed both as a way to judge demand and buying trends, but also to just understand the kinds of people who are likely to be calling Austin home over the next decade. That's why I'm so pleased about the Pflugerville Solar Farm.

The ground breaking on December 15 signaled the start of the development of the 720-acre facility, which will be the largest in the nation. Yes, you read that right. The largest in the nation, with 400,000 solar panels. That doesn't just mean that enough power will be generated to light up 40,000 homes or that 350 construction jobs will be created over the next two to three years. It means that Austin and the surrounding region are emerging as a green energy center of development.

Any major business creates a demand for ancillary businesses. That's the life blood of broad economic development. And this company is looking to become part of the community. For instance both the Pflugerville and Elgin School Districts will be receiving solar instructors to teach and to promote green energy and potentially to stimulate the mind of some little entrepreneur with an idea of his or her own.

What's the economic benefit to the city of Pflugerville? About $2.5 million. To the region or state as a whole? Hard to calculate at this point since these kinds of projects are leading the way to a transformation of "business as usual" in the Lone Star state. We used to be known for our oil wells. How cool would it be if we become known for our solar panels and wind turbines?

As real estate investors, it serves us well to watch these kinds of developments, just the way we're watching the Formula 1 track, to gauge when it's time to move in and get interested in land or existing houses. Rentals are going to be huge in the vicinity of installations like this one. The people who build, run, and maintain plants like these will, initially, likely want a place to rent, but it's also highly likely that as they put down roots, rentals can translate to purchases.

Here's a YouTube video on the project you may find interesting. Every time we talk about something like this, it's just another tile in the growing mosaic of why Austin is different, why Austin is exciting, and why Austin is going to continue to grow in opportunities for real estate investors!

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