Texas Property Insider- Austin Real Estate and Texas Coastal Real Estate Blog

Welcome to Texas Property Insider. The purpose of this blog is to provide accurate and helpful information about market trends and issues important to property owners in Central Texas and on the Texas Coast. You hear a lot of talk out there. You see the statistics, read the stories in the newspaper and you see practitioners regurgitate those same stories and statistics. There is more information available then ever before. But why is it, even after all of the stories and pundits have had their say, you still feel you can’t grasp what’s really happening in the real estate market?


There is a lot more to it than simple statistics and market info. These numbers are helpful and vitally important, but if taken at face value they can be misleading, even deceiving. As Mark Twain once said, “There are lies, damned lies and then there are statistics.” I created this blog to pull back the curtain on Texas real estate, interpret the market information and present it to you in a format that is both pithy and easy to digest.

Friday, May 7, 2010

Barton Creek Landing undergoing $8.8M upgrade

The 250-unit Barton Creek Landing residential complex will soon unveil about $8.8 million worth in renovations.


Denver, Colo.-based UDR purchased the Southwest Austin complex in 2002 for $17.4 million and recently began refurbishing the building constructed in 1986. The project is expected to finish sometime in the third quarter.


The construction includes a new club house, gym, pool and entertainment room. Also, the exterior of the apartments at 2800 Bartons Bluff Lane will be completely refinished. Rents range from about $906 a month to about $1,177 and the building is about 96.4 percent leased.


UDR at the same time reported its first quarter earnings. Its net income hit $46.8 million, or 28 cents per diluted share, for the quarter ended March 31, versus $55 million, or 35 cents per diluted share the same three months a year before.


The company attributed the variance to a $7.1 million record gain in the first quarter last year, which was associated with the repurchase of $160 million unsecured debt at a discount.



Read more: Barton Creek Landing undergoing $8.8M upgrade - Austin Business Journal:
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