Editor's note: A funky new bar and housing woes lead this round of top stories. Read on for more of the week's most popular headlines.

1. An exclusive first look at East Austin's funky new bar and patio. When you're looking for beachy vibes this summer, where will you go? East Austin, of course. Kitty Cohen's, opening on Webberville Road in July, wants to be your new destination for refreshing cocktails, funky 1970s vibes, and a gorgeous patio.

2. Austin has the most overvalued housing market in the nation once again. Employment is booming in Austin, and as a result, home prices just keep climbing. On Forbes' 2016 list of most overvalued housing markets in the country, Austin ties with San Antonio for first place, a distinction that likely makes homeowners feel pretty uneasy.

3. Local chef reveals what's next after dream restaurant suddenly closes. Ophelia suspends operations effective immediately. That was the gloomy message sent out June 1 by Dunlap ATX announcing the closure of the East Austin restaurant after only three months. But Lynzy "Pub" Moran, chef and partner of the concept, is anything but negative about Ophelia, a bittersweet ending to a short-lived dream.

4. Massive $250 million water park and resort slides into Austin area. A massive water park and convention center is coming to Central Texas. In a joint announcement on Wednesday, the City of Round Rock and Kalahari Resorts and Conventions revealed plans for a family-friendly resort across from Dell Diamond, slated to open in 2020.

5. Travel authority names favorite Austin swimming hole one of the best in America. When temperatures start rising, where do you go to cool off? McKinney Falls State Park is one of the best swimming holes in Austin — now the country.

McKinney Falls State Park has one of the best swimming holes in the nation.

Photo courtesy of Friends of McKinney Falls State Park

McKinney Falls State Park has one of the best swimming holes in the nation.