On October 21, I told you Austin placed second on the 2010 Milken Institute's list of Best Performing Cities. A month earlier Forbes blogger Francesca Levy picked us as a best bet for residential real estate housing markets in the nation. Now here we are in November, and Newsweek says we're one of America's ten best-positioned cities for economic recovery. I know New Year's is better than a month away, but I feel like breaking out the champagne.

In a November 8 article ("Greetings from Recoveryland"), author Joel Kotkin picked Texas as the number one destination for job-seeking Americans. The "Texaplex" -- Austin, Dallas, San Antonio, and Houston -- was singled out for reasons that will make the hearts of real estate investors sing:

- hearty…

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Back on September 30, we posted the breaking news that The Austin Business Journal designated Southeast Austin as the "next big spot" in town based on the $250 million F1 track going in on the SH-130 corridor. (That post also has a number of source links if you want to read up on the background of the project.)

Okay, so, latest news -- and it's good news. Construction on the track, which is near FM 812, will get underway in December with a slated completion in 2012. The numbers attached to the project are looking fantastic for Austin:

- 3,000 seasonal and construction jobs
- $100 million pumping into the economy

They're looking at developing a year-round calendar of events, starting a motorsport driving club, getting a kart track going, and…

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More good news for the Austin investment real estate market. The 2010 Milken Institute's Best-Performing Cities Index is out and we're number 2 on the list. Basically this is an index that tries to measure how well a metropolitan economy is growing while creating and sustaining jobs. They look at a mixture of job/wage/salary data with heavy emphasis on technological growth. (The data is also taken as an excellent indicator of overall regional economic stability.)

Here are some of the highlights of what they have to say about Austin:

- Unemployment in Austin peaked at 7.3 percent, approximately three percent under the national average.

- Austin exhibits a number of positive and inter-related qualities: low cost of doing business favorable…

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Southeast Austin just claimed the title of "next big spot" in town. The Austin Business Journal for September 24 includes a profile of the $250 million Formula 1 race track going in on the SH-130 corridor. That's exciting, but what's more exciting are all the big developments planned for the surrounding area to take advantage of the economic boom that will accompany the 417-acre facility.

 

 

From San Antonio to Georgetown, this whole metropolitan valley, over the next decade is going to explode with new developments both residential and commercial.The implications for Austin are enormous. The city is going to be recognized around the world.We're headed into a vibrant period of expansion with exciting opportunities for real estate investors. Read…

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