2,500 New Single-family Homes Planned Near Austin Tesla GigaFacotry

A Houston-based real estate developer wants to bring thousands of homes near Tesla’s gigafactory, saying it believes Austin is “growing into the tech epi-center of Texas.”

Dustin Davidson, Hines managing director, said they hope to bring 2,500 single family homes and between 1,250 and 2,000 multifamily units. “As well as 500 to 1,000, what I’ll call high-density, single-family housing. Think Mueller Park in north central Austin. Kind of some unique, more interesting product types,” said Davidson, adding these are ballpark numbers and subject to change.

The community will also include a lake, parks, nature trails and stores, according to Hines’ press release. Mirador will be located off Pearce and Wolf Lanes, about 15 minutes from Tesla’s gigafactory.

There was also a good new from Tesla end. According to a Wednesday update on Tesla’s quarter four earnings, Elon Mush said that Cybertruck is in the development phase and is planned to be made in Travis County along with Model Y.

Data from real estate brokerage Redfin showed median home prices in Tesla’s zip code, 78725, and Mirador’s zip code, 78617, have both increased. In December 2020, data showed the median price in Tesla’s direct neighborhood was about $269,000. That jumped more than $100,000 by December 2021.

Mirador’s neighborhood went from about $254,000 to $347,000 — a $93,000 increase.