Tesla’s Austin Giga Factory: A Game Changer for Local Real Estate Investors
Tesla’s Austin Giga factory has been headlining ever since it opened its doors, and for good reason. Latest news is that Elon Musk’s Tesla is on the verge of catching up to Dell as the king of local tech employers. Dell has been the largest tech employer in Austin for decades, with around 13,000 employees, but Musk managed to reach the current size of the Dell team in just one year. This is a significant achievement, considering that Dell was founded in 1984, and Tesla has only been around since 2003.
According to an annual report filed with Travis County, the Giga factory ended last year with 12,277 employees. More than half of these employees currently live in Austin’s Travis County. Interestingly, as of now, Tesla has invested $3 billion in real estate and $2.8 billion in commercial real estate in Austin Travis County, for a total investment volume of $5.8 billion. This far exceeds the commitments it made to the City of Austin in 2020, where Tesla committed to investing $1.1 billion and hiring 5,000 workers.
Building electric cars isn’t Musk’s only business in Austin. The forward-thinker is preparing to build a “space utopia” in East Austin, where SpaceX and The Boring Company are already under construction. Musk has also recently come up with a new project called X: a full-service “everything app” that combines social networking, shopping and space exploration. The app is similar to the popular social media platform WeChat, where users can pay, shop and chat.
According to the Wall Street Journal, Musk has purchased a total of 3,500 acres of land in the Austin area, and the prospect of following Musk’s lead in development will be substantial. This presents a significant opportunity for strong investors who want to purchase land in the area. One such project is the Bastrop River Crest River Run project, an exclusive unlisted land project in which Real International Real Estate is involved. It is located just 30 minutes from downtown Austin and a block away from Musk’s “space utopia” town.
The River Crest project spans 47 acres and comprises 51 land parcels, each around 0.5 acres in size. This project is unique in the neighborhood, as it is the only land that has been cleared for planning. With the development of Musk’s Snailbrook and the gradual connection of the city’s wastewater system within the next two years, the land will be re-subdivided and its value is expected to double to approximately $15 million.
Investors with the resources to purchase the entire project should consider this as an opportunity to benefit from the increasing value of the land. Additionally, an exclusive Real International investment solution is available for investors to save on taxes while maintaining the land’s cash flow during the holding period. This is a rare chance to invest in a one-of-a-kind development project that is sure to yield significant returns!
With Credit for Imagery to WSJ.
