Wednesday, August 12, 2020 / by Jenny Carroll
Tesla's Austin Gigafactory is Well Underway
The announcement of Tesla's 2,100-acre gigafactory site, located in Dell Valle in southeast Austin, is poised to transform a previously underdeveloped and underserved section of Travis County into a vibrant, fully serviced community. The corporation out of California, set to build the Tesla Model Y and Model 3 as well as the highly anticipated Cybertruck, has pledged to invest over $1 billion into the local economy and bring 5,000 jobs to the area. As many know, Austin won the close competition for the facility from Tulsa, Oklahoma with the final incentive package including $60 million from Dell Valle's School Officials, according to Philip Jankowski and Shonda Novak's article in The Statesman from August 7th.
While most of the promised jobs will be considered unskilled labor with an average annual wage of $47,000 with entry-level positions at $35,000, Tesla anticipates an additional 4,000 jobs to be created in the community due to the development of the facility. Tesla has already added job listings for the new facility on its own webpage and can be viewed here. The building of the factory is well underway now and trucks and tractors can be seen going in and out non-stop these days. As Tesla's website claims, "it's moving at the speed of Elon."
With the injection of jobs and money into the Dell Valle economy, positive change is sure to come to the area. It has long suffered as a food desert, an area that has no conveniently located grocery store, where the closest grocery opportunity being 30 minutes away at the Mueller HEB. There also exists a lack of libraries and community centers servicing the area and the hope is with the influx of development slated for approval that the residents will truly see the benefits of having the gigafactory in the area.
Home starts in the area are already on the rise and applications for more development have surged since the Tesla announcement. Builders like Lennar and others who already have new build sites in Dell Valle have seen interest grow, not only due to the appeal of newer homes in the time of COVID but, due to the lack of inventory seen in Travis County and Central Texas on the whole. The average home price in the area is around $250,000, a significantly lower price point than the rest of Travis County. It's a perfect opportunity for home buyers looking to buy with record low interest rates in the 2-3% range to get into a home that's got an Austin address, for less money than anywhere else in town.
As dedicated property buying and selling specialists, we at Stanberry REALTORS® are committed to helping our community grow and find the best homes for our clients. If you are interested in learning more about Dell Valle, how its growing, how the schools have and are looking to improve further, and how you can buy, give us a call today. We know that this underserved area is ripe for investment and we can help you find a property you'll love or sell a property you no longer need. We look forward to assisting you soon!
While most of the promised jobs will be considered unskilled labor with an average annual wage of $47,000 with entry-level positions at $35,000, Tesla anticipates an additional 4,000 jobs to be created in the community due to the development of the facility. Tesla has already added job listings for the new facility on its own webpage and can be viewed here. The building of the factory is well underway now and trucks and tractors can be seen going in and out non-stop these days. As Tesla's website claims, "it's moving at the speed of Elon."
With the injection of jobs and money into the Dell Valle economy, positive change is sure to come to the area. It has long suffered as a food desert, an area that has no conveniently located grocery store, where the closest grocery opportunity being 30 minutes away at the Mueller HEB. There also exists a lack of libraries and community centers servicing the area and the hope is with the influx of development slated for approval that the residents will truly see the benefits of having the gigafactory in the area.
Home starts in the area are already on the rise and applications for more development have surged since the Tesla announcement. Builders like Lennar and others who already have new build sites in Dell Valle have seen interest grow, not only due to the appeal of newer homes in the time of COVID but, due to the lack of inventory seen in Travis County and Central Texas on the whole. The average home price in the area is around $250,000, a significantly lower price point than the rest of Travis County. It's a perfect opportunity for home buyers looking to buy with record low interest rates in the 2-3% range to get into a home that's got an Austin address, for less money than anywhere else in town.
As dedicated property buying and selling specialists, we at Stanberry REALTORS® are committed to helping our community grow and find the best homes for our clients. If you are interested in learning more about Dell Valle, how its growing, how the schools have and are looking to improve further, and how you can buy, give us a call today. We know that this underserved area is ripe for investment and we can help you find a property you'll love or sell a property you no longer need. We look forward to assisting you soon!
