Tuesday, February 5, 2008

Wish You Were Here!

Horseshoe Bay is perfectly placed. With a lifestyle of outstanding resort amenities, unspoiled waterfront, & breathtaking Hill Country vistas, our economic climate remains strong while much of the remaining U.S. struggles. Our two closest, Austin & San Antonio, continue to receive strong economic forecasts. The fastest growth corridors for both cities are taking place TOWARD Horseshoe Bay. We can’t help but reap the benefits.

Forbes Magazine has ranked Austin as the NUMBER ONE fastest growing large metropolitan area in the United States. Forbes cited Austin's high-tech industry (with key employers such as Dell, IBM and Apple) and the University of Texas, which provides the area with a steady stream of talent. Austin is the self proclaimed “Live Music Capital of the World,” & has a thriving film industry & art’s community.

Austin's projected gross domestic product growth by 2012 is second only to Mobile, Ala., and first among the largest 100 metro areas in the country. Metro area Austin's population is expected to grow nearly 15% by 2012. In projections run for Forbes by Moody's Economy.com, Austin’s GMP by is expected to grow 32% during the same time frame.

Horseshoe Bay’s next closest metropolitan market, San Antonio, barely missed the list because, according to Forbes, they're expected population growth is lower. However they still ranked #6 in Fortune’s “Top 10 Places to Own Real Estate” showing solid appreciation while much of the rest of the U.S. endures hard economic times.

As an example of this growth, Galo Properties http://www.globest.com/ will soon begin construction on a $200 million, 77-acre town center just northeast of San Antonio. Cibolo Town Center’s first phase will include a 129-room Cambria Suites Hotel and 174,000 s.f. of retail space. The project is expected to have 600,000 to 800,000 s.f. of retail at build out.

Construction will be underway by the end of this year at I-35 North and Weiderstein Rd., which will be renamed Cibolo Pkwy. The first phase is slated for a late 2009 or early 2010 completion.

Horseshoe Bay is what I call the third point in the Hill Country's "golden triangle." Giving us all the convenience of two thriving metropolitan areas and the affordability of small town prices, our equity appreciation rivals almost any other market in the U.S. If predictions by some of the nation's most prestigious publications prove true, we are perfectly placed for a long time to come.

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