Word: austins
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TOLL Our cancellation rate is below 5%, where it almost always is. There are some softer markets, like Austin, Dallas, Raleigh, Hilton Head, Columbus. Charlotte was soft but is coming back. But New York, Chicago, Washington and almost every other market we're in are on fire...
...Austin, Texas...
To see the future of transportation in Texas, you have to drive out to the prairie north of Austin, past the sprawling plants of Dell and Samsung, to the farthest suburbs, where wild grass and cornfields nuzzle up to McMansions with their perfect green lawns. There, giant earthmovers, their wheels taller than a Texan in his boots, are ripping up the gummy, black soil to lay a 49-mile stretch of concrete tollway. State Highway 130, at a cost of $1.5 billion, is the biggest highway project under way in the U.S. today. It is also the first test...
...worst ruckus broke out in Austin last summer, when commuters realized that the "innovative" financing authorized by the Trans-Texas legislation meant they would start paying tolls. Traditionally, highways have been financed by gasoline-tax revenues. But that money now barely covers road maintenance, much less new construction, and raising gas taxes is as politically unpalatable in Texas as it is everywhere else. The state, for the first time, can go into debt by issuing bonds for new roads. Although those bonds can be paid back by a number of possible revenue sources (such as steeper fines for drunken driving...
...addition to Harvard and the Smithsonian, the consortium includes Carnegie Observatories, the University of Arizona, the University of Michigan, the University of Texas at Austin, the Massachusetts Institute of Technology and Texas...