Big News of Villa Muse in Austin, Texas
By Grace on Feb 18, 2008 in Austin
Villa Muse is a $2.5 billion dollar commercial development project that was designed to be built in the downtown area of Austin, Texas. Recently, 420 acres have been added to the project’s original design. Villa Muse will be home to over 9,000 residents, hundreds more then what was initially expected.
Villa Muse is a huge Austin commercial real estate development that will have a great impact on the economy of Central Texas. Austin Realtors have had no trouble finding the 9,000 residents who desire living in the upscale and prestigious Villa Muse.
A report, conducted by The Perryman Group stated, “The construction and ongoing use of the development will substantially increase the value of the property involved and will generate sizable economic impacts including more than $6 billion in spending in the Austin area during construction…and $20.2 billion in local spending each year.”
Jay Podolnick, CEO of Villa Muse, has said that the project will break ground on the first phase sometime soon. The developers and the investors are hoping that Villa Muse will be open in 2009, probably towards the end of the year.
The land for Villa Muse is just fourteen miles from Austin’s downtown area. The developers are expecting that this will be a mixed-use development the main staple of the project will be the Villa Muse Studios, consuming over 200 acres.
Villa Muse is a creative endeavor that will add to the prestige and charm of the city of Austin. The 9,000 residents are excited about making the move to Villa Muse.
