Austin

Advanced Micro Devices Inc. is close to signing a sell and lease-back deal which is expected to generate approximately $164 million in cash for the technology company. AMD recently announced in a news release that an affiliate entity of real estate investment company Spear Street Capital agreed to buy the property at 7171 Southwest Parkway.

Foundation Communities plans to build a residential project with affordable rentals at 2800 S. Lamar Blvd., a booming area with upscale multifamily projects. The local nonprofit could build the 109-unit apartment project on a site that currently houses a Goodwill retail store.

National Instruments Corp. in considering adding 1,000 jobs to its Austin headquarters over the next 10 years and an $80 million investment to the Texas capital. The engineering tool maker plans to expand its research and development by building a new $47 million facility and investing $33 million in business equipment.

StreetLights Residential and Hunt Companies, Inc. have formed a partnership that will build a 19-story glass and brick tower at 214 Barton Springs Rd., just south of the Hyatt Regency Austin. The project is valued at $68 million. Designed by Austin-based Rhode Partners, the luxury multi-family project will feature 300 apartment homes with high design elements modeled after a boutique hotel.

Standard Pacific Homes and Ryland Homes have purchased the remaining 201 lots in the Twin Creeks master-planned community located in the Cedar Park area. Together the builders will develop The Reserve at Twin Creeks, the last section that remains undeveloped of the Twin Creeks subdivision, which currently counts for 800 homes.

Preferred Apartment Communities, Inc. grew its multifamily portfolio with 928 new units located in Atlanta, GA, Austin, TX and Raleigh, NC. The Maryland-based real estate investment trust has recently closed on the acquisition of three multifamily properties for a total of $90.8 million.

Despite the opposition from residents living at the Plaza Lofts, the controversial hotel has recently received Austin Planning Commission recommendation. The 24-story mixed-use project called Hotel ZaZa is planned on West Fourth Street between Guadalupe and Lavaca streets, very close to the residential property.