A recent article in the Austin American Statesman had this to say about one of our newest California transplant Elon Musk: He seems to be at it again! According to the article Mr. Musk and company have acquired land in Bastrop County, which is southeast of Austin, adjacent to Travis County, and filed plans to build a 581,521 square foot building. Folks that’s over 13 acres of building! Construction is slated to start in July 2023. This location is about one mile from his Boring company. It makes sense to keep things close doesn’t it.
Other sources state that Space X, one of Mr. Musk’s ventures, has posted job listings for new positions in the Austin area for jobs in the area of Space X scope of business for software, design, development and inter-net service. No salary range were reported, but I believe that they pay well.
So, what does that mean to us investors in Austin area Real Estate? It means that holders of residential rentals in the area, be them north, south, east or west of Mr. Musk’s business ventures should do quite nicely. How can that be you ask? Because often people don’t necessarily live close to their work, but they do want it to be convenient to get to work. Toll road 130 that runs north to south does just that in addition to the already established road systems.
Now is a great time to own Austin area residential real estate. Oh, by the way have you been tracking the stock market recently?