Good afternoon, and thank you for subscribing to Building Austin, our weekly newsletter focused on real estate, growth and development in the Austin region. I'm Shonda Novak, the American-Statesman's real estate reporter.

Bastrop: the boom continues

You need drive only about a half hour east of Austin to know the city of Bastrop is booming.

One of the latest projects to be announced is Adelton. The developer, West Bastrop Village LTD, expects the master-planned subdivision to be built in phases over the next 10 to 15 years, on 348 acres located five minutes from downtown Bastrop, off of Texas 20.

Plans call for more than 1,200 homes, 125,000 square feet of commercial space, four miles of trails and more than 50 acres of parks, greenbelts and other open space. Amenities are expected to include a pool, a beer garden-style outdoor pavilion, a playground and a sports court. Click below for more details on Adelton, and what's driving Bastrop's growth:

More: Master-planned community in Bastrop to bring 1,200 homes. Check out what else is included

Bastrop — like pretty much every part of the five-county Austin region, which spans from Georgetown to the north all the way to San Marcos to the south — isn't the only part of Central Texas seeing explosive growth. My co-worker Lori Hawkins wrote this past week about what city in our region is the fastest growing in the U.S.

More: Central Texas city is the fastest-growing city in America. And it isn't Austin.

Huge park planned for Whisper Valley

More: A park almost twice the size of Zilker is coming to Central Texas. Here are the details.

Austin-area industrial market: hot and getting hotter

Consumer goods, ecommerce, and manufacturing related to the opening of Tesla’s 10-million-square-foot gigafactory continue to drive demand in Central Texas' industrial market, CBRE said in its latest market report.

Following a record-breaking 2022, CBRE says it tracked over one million square feet of net leasing activity in the first three months of the year, roughly keeping pace with positive net absorption during first quarter 2022.

Developers added 1.7 million square feet of new industrial space to the market in the first quarter of this year, CBRE said. Read about one of the biggest planned industrial projects in the nation, bound for San Marcos south of Austin.

More: Mega industrial park large enough to house 434 football fields is underway in San Marcos

More: No small steps. Why Austin could take giant leaps as Texas looks to boost space industry

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This article originally appeared on Austin American-Statesman: Bastrop: the boom continues