Austin Texas Real Estate Blog

The Canadian-based company, Qualico Development, has bought up 1,600 acres in Del Valle, south east of the Austin city limits, for a planned community development in this area near the Austin-Bergstrom International Airport.

It’s not yet known how many units Qualico plans on building, but there is a golf course planned, as well as commercial space. The general manager of Qualico Communities, Glynn Hendry, estimates that the company spent about $19 million on the land. The types of houses will cover a wide range – from those priced for the first time home buyer to those qualified for the higher end prices.

For 60 years, Qualico had concentrated its interests in the western region of Canada – being based in Winnipeg - but they now see an opportunity to expand into the United States. Austin was chosen as a growing city with a great deal of potential for housing and commerce. Austin has weathered the national real estate meltdown fairly well and this Canadian company is convinced it’s got all the makings of a boom market.

The property itself is situated in a prime location. Its proximity to Austin makes it an excellent bedroom community for professionals who work downtown. As gas prices increase, commuters are eying neighborhoods closer to work. The development in Del Valle will raise the real estate value of the area, where homes typically range from $100,000 to $200,000.

Qualico Development isn’t the only Canadian company eyeing the real estate market in the US, either. Carma Developers LP, based in Calgary, announced in 2007 a plan to invest $500 million in a 2,500 acre area near the airport as well. The development is expected to create a community of 30,000 residents and 1 million square feet of commercial space.

What do the United States Investors need as a more clear indicator to continue their business expansion? With Austin as a focal market for impressive growth and expansion, foriegn investors will continue to grow and expand into the United States.