#NEWS // BG Reads | November 16, 2022
[AUSTIN METRO]
City staffers push back on proposed changes to compatibility (Austin Monitor)
A proposal by?City Council to?reduce compatibility along major streets?would make the city’s Land Development Code more complicated while doing little to increase housing supply, city staffers told the Planning Commission last Tuesday.
“We’re very supportive of the direction (the proposal is) going and relaxing compatibility to encourage housing capacity … but as it’s drafted we’re currently not supporting it,” Greg Dutton with the Housing and Planning Department said.
Dutton said the proposed changes could cause confusion and uncertainty for city staffers, developers and the public. And even with the changes, compatibility would still impact most properties along corridors to some extent…?(LINK TO FULL STORY)
Double-decker highway coming to South Austin (KUT)
Amid howls of protest and a legal challenge in federal court, the Texas Department of Transportation is plowing ahead with the first of?three projects?to widen I-35 through Travis County.
The I-35 Capital Express South project stretches from Ben White Boulevard south to State Highway 45 East. The signature feature will be two elevated high-occupancy vehicle lanes in each direction from Ben White to Slaughter Lane — dramatically altering the look of the highway through that stretch of South Austin…?(LINK TO FULL STORY)
JPMorgan Chase chief Jamie Dimon bullish on Austin despite economic uncertainty (Austin American-Statesman)
Jamie Dimon, CEO and chairperson of JPMorgan Chase & Co., has said repeatedly in recent months that he considers it more likely than not that the U.S. economy is headed toward a recession.
But that doesn't mean the nation's largest bank is tapping the brakes on its plans in the Austin metro area or in Texas overall.
“We have been expanding (in Texas), we have been opening branches, we’ve been adding people," said Dimon, who was in Austin this week to tour the bank's local operations and meet with employees.
Austin in particular is likely to continue to outperform many cities nationwide because "it's an attractive place to work," he said. "You can build buildings (here), you can hire people, you have universities (and) Texas is pro-business — those thing really matter over a long period of time.”…?(LINK TO FULL STORY)
After pandemic's pain, future looking brighter for Austin's hotel market (Austin American-Statesman)
After a disastrous 2020 and 2021, Austin's hotel market is seeing a room boom.
That goes both for occupancy demand as well as new properties opening following the COVID-19 meltdown.
With a strong 2022 performance by major events including South by Southwest, Austin City Limits Music Festival and Formula One racing, Austin tourism leaders say they are feeling bullish about closing out the year and heading into the new year.
"Some destinations are business travel destinations, some are more touristy, without as much business travel. In Austin, we get major festivals, major sporting events, leisure tourism, business travel and conventions as well," said Tom Noonan, CEO of Visit Austin, the city's convention and visitors' bureau…?(LINK TO FULL STORY)
Homebuilders brace for utilities fees spike in New Braunfels (Austin Business Journal)
New Braunfels City Council voted Nov. 14 to more than double the maximum amount of water and wastewater fees the city can collect from new developments, a move that could add tens of thousands of dollars in additional costs for new homes built within the city's utility service area.
The changes will take effect Feb. 1 and affect impact fees charged to deliver water and wastewater infrastructure to new developments. The fees are collected to help New Braunfels, located between San Antonio and Austin, offset the cost for increasing water and wastewater capacity to accommodate the region's population growth…?(LINK TO FULL STORY)
[TEXAS]
As Trump announces his run, Cruz and Cornyn signal openness to other GOP presidential candidates (Texas Tribune)
Hours before former President Donald Trump announced Tuesday that he will run for the White House in 2024, Republican U.S. Sens.?John Cornyn?and?Ted Cruz?signaled an appetite for a contested GOP primary. But both said they’d support him if he turned out to be the eventual Republican nominee.
The two Texas senators join a growing chorus of Republican voices who have been withholding their enthusiasm about the prospect of a third bid from Trump.
“I’m sure I’ll support the nominee of the Republican Party, but I think there’s likely to be a competitive primary election,” Cornyn?told reporters Monday…?(LINK TO FULL STORY)
领英推荐
Gov. Greg Abbott expands Texas’ migrant busing plan to Philadelphia (Texas Tribune)
Gov.?Greg Abbott?said Tuesday that Philadelphia has been added to the list of Democrat-led cities where Texas will bus migrants, with the first bus set to arrive in the Northeastern city on Wednesday morning.
For months, Texas has sent buses of migrants to Washington, D.C., New York and Chicago in an effort to pressure Democratic President Joe Biden to stiffen his immigration policies, which Republicans say have led to?record-high numbers of border crossings…?(LINK TO FULL STORY)
Will Texas Republicans quit Donald Trump? (Dallas Morning News)
There are times when a relationship, no matter how good it’s been, has to end. It’s a staple of the blues–realizing that it’s over, but reluctant to let go. It’s outlined in the blues standard “I can’t quit you baby,” a simmering song about holding on to a dying love. I prefer Little Milton’s version. Some political relationships don’t last either, and there comes a time to walk away. On Tuesday Donald Trump is expected to announce another run for the White House, which could leave some Republicans across the country pondering whether to leave Trump for someone else–like Florida Gov. Mike DeSantis, a Republican who is frequently mentioned as a 2024 contender for the GOP presidential nomination…?(LINK TO FULL STORY)
Almost 60% of Houston households can’t afford to buy a home here, report finds (Houston Chronicle)
The pandemic took Houston’s housing market to new heights as home prices soared to record levels earlier this year. Now that the dust is settling with the real estate boom behind us, the pace of home price appreciation is slowing down considerably – but not fast enough to make purchasing a home affordable for most Houstonians. Only about 41 percent of households in the Houston area earned the minimum annual income needed to purchase a median-priced $349,500 home in the third quarter, according to a new report from Houston Association of Realtors…?(LINK TO FULL STORY)
[NATION]
Trump seeks White House again amid GOP losses, legal probes (Associated Press)
Former President?Donald Trump?said Tuesday that he will mount a third White House campaign, launching an early start to the 2024 contest. The announcement comes just a week after a disappointing?midterm showing for Republicans?and will force the party to decide whether to embrace a candidate whose refusal to accept defeat in 2020 sparked an insurrection and?pushed American democracy to the brink.
“In order to make America great and glorious again, I am tonight announcing my candidacy for president of the United States,” Trump said to an audience of several hundred supporters, club members and gathered press in a chandeliered ballroom at his Mar-a-Lago club, where he stood flanked by more than 30 American flags and banners bearing his “Make America Great Again” slogan. “I am running because I believe the world has not yet seen the true glory of what this nation can be.”…?(LINK TO FULL STORY)
McConnell faces leadership challenge from Rick Scott as conservatives steam (Politico)
Sen. Rick Scott announced a challenge to Mitch McConnell in a closed-door party lunch on Tuesday afternoon, the first such opposition for the Senate GOP leader in 15 years at the helm.
Scott told reporters that he is “not satisfied with the status quo,” a clear criticism of McConnell’s time as leader. The Kentucky Republican said afterward that while Scott was free to run against him, he won’t lose to the first-term Florida senator…?(LINK TO FULL STORY)
[HEARINGS AND MEETINGS]
Today, November 16
[BG PODCAST]
Bingham Group Associate Hannah Garcia and CEO A.J. recap and discuss the 2022 Austin City Council election night results.
Today's episode (169) features Larry Smith, Chairman of Austin-based Tokyo Electron US Holdings Inc.
Part of an ongoing series on the CHIPS and Science Act passed in August, Larry and Bingham Group CEO A.J. discuss its impact on the Austin and Central Texas.
The bipartisan bill includes more than $50 billion in incentives for manufacturers of semiconductors, or chips, to build domestic semiconductor plants.
Enjoyed this episode? Please like, share, and comment!?Follow?Bingham Group on LinkedIn!