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Mueller Austin Homes – Developer Update 1 of 3

What’s coming next at the Mueller Development? This was the question that Greg Weaver of developer Catellus answered in an information session at the end of March 2010 . Here’s the first of a three part series recapping of some of the things that were discussed around the development model at Mueller Central.

What homes are coming next? The tweener lots are coming! These represent 40 homes on half of the current grassy knoll bordered by Tom Miller, Antone, Berkman and Hermalinda streets. (see right)

What will they look like? There are apparently no designs yet, though it is understood that they may be attached garden court style homes. The two garden courts already at Mueller are made up of detached homes facing one another across a shared garden area, rather than across a street. The lot plan is expected around the end of April, and designs after that.

Are any of these homes going to be in the Mueller Affordable Program? 50% of these homes will be in the affordable program, giving 20 families the opportunity to participate in the income-qualified shared equity scheme. Qualifying income is less than 80% of the Austin Median Family income for your family size.

How much will the new homes at Mueller cost? The price point is estimated to be $200,000-$300,000 which will go some way to plug the affordability gap that I’ve talked about before. This is a smart move in that these homes are in a very active part of the market, and will no doubt be in high demand. For the affordable incarnation of the home, prices are expected to be $140,000 to $160,000.

When will the homes go on sale? Hard to say at this point. If the lot map is released in April, and the plans are released this summer, I would imagine homes would go on sale this summer for completion in Q4 2010. Drop me a line if you want to keep up to speed with them

Which builder is implementing the new homes? The developer explained that it would be one of the familiar builders who already has a track record here. I have my theories.

Do I think they will sell quickly? Hells yes. For all the families who I have helped buy a home at Mueller, there are two families that have called and asked for homes under $250,000. If homes can stay in the under $300,000 category, I think the 20 market rate and 20 affordable homes will sell out extremely quickly. The lottery and waiting lists of 2007 for the pioneers may come back again.

Garreth Wilcock is a Realtor who survived the pioneer lottery process and lives at Mueller. Email or call +1 (512) 829-1351 if you would like to be notified when new homes at Mueller become available. My guess is that they won’t go on the Austin MLS.

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