Silicon Valley’s love affair with Austin contributed to skyrocketing housing prices and boomtown multifamily development a few years ago. But Big Tech’s affections faded as Facebook’s parent ghosted its plans to occupy Sixth and Guadalupe, and Google’s parent left its full-building lease at the Sail Tower on read for years.
An AI chipmaker’s massive office leasing deal near The Domain could be a sign of romance blossoming anew.
Santa Clara, California-based Nvidia is in talks to lease 100,000 square feet in the Brandywine Realty Trust-owned building at 11515 Burnet Road, part of the larger Uptown ATX mixed-use development. That’s only a third of the space Nvidia was reported to be shopping for. But with investment from the world’s most valuable company — it just became the first company to top $4 trillion in valuation — the deal could strengthen confidence in the sector from a real estate perspective.
The office location is a 15 minute drive from Dell Technologies’ Round Rock headquarters. Dell and Nvidia are closely partnered on AI infrastructure, where there appears to be no end to demand. Dell, which leverages Nvidia’s chips in its data center products, reported a $14.4 billion AI server backlog after the first quarter. In luxury residential news, Houston-based broker Erwin Nicholas II of Mr. Real Estate tapped a well-known Twitch steamer to market San Antonio Spurs legend Tony Parker’s over-the-top mansion in Boerne, built in 2009. Celebrity streamer Kai Cenat is posted up at the the 50-acre estate for a “subathon,” revealing that the house comes with a fully functional 24-hour Nando’s chicken restaurant, just like that billionaire’s house in season 3 of “Atlanta.” The home’s address, 9 Rue Parker, is an obvious nod to Parker’s French-American nationality and his jersey number.
Here’s what else happened in Texas real estate this week.
Lancaster, a suburb south of Dallas, has been a hub of industrial development, but the city’s planning and zoning commission rejected a 165-acre data center proposal from EdgeConneX, setting a steeper path to approval.
Tim Leiweke, the founder and CEO of Oak View Group, resigned this week after a federal indictment accused him of orchestrating a bid-rigging scheme tied to the $338 million Moody Center arena development at the University of Texas at Austin.
The biggest news in Houston included residential inventory, which is way up, and H Mart’s plans for a store in Sugar Land.
In Fort Worth, Transwestern, 2SP Partners bought 10.2 acres near Texas Christian University and the Colonial Country Club with plans for a $170 million mixed-use development.
On the other end of the Metroplex, Louisville, Kentucky–based LDG Development is planning a 330-unit affordable apartment complex near the Great Trinity Forest Gateway and Horse Trails in Southeast Dallas.
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