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Austin Ashton: More Buzz + Sneek Peek

by | March 31, 2009 |3 Comments
Austin Ashton - Lobby Rendering

Pricing for the downtown Austin apartment building, the Ashton Austin, is available Jude Galligan, 512-226-3414, judegalligan [@] gmail.com

Click here for complete Ashton Austin coverage.

Austin Ashton - Lobby Rendering

Austin Ashton - Lobby

Two weeks ago I shared some interesting facts about the Ashton – the downtown Austin apartment building which has kept a very tight lip on when it will be delivered.  Yesterday, I received an update along with some swank model photos!  According to the developer of the downtown Austin Ashton, the move-in target is now June 1st.  The model units should be ready by May 1st.

The market’s expectations are high.  I’m told the photos should be very true to the actual finishes and fixtures used.  Interestingly, several of the people who’ve contacted me about the Ashton currently live at the AMLI on 2nd.  This makes sense.  Many of my clients leasing in downtown Austin have been longing for a more traditional finish without sacrificing quality.

BONUS:
For Downtown Austin Blog readers who are preparing to lease at the Ashton, email me your name, phone, address, and I will send you an exclusive draft copy of the floor plans!

-Jude
judegalligan [@] gmail.com

–

More pics after the jump below!

Austin Ashton - Kitchen Rendering

Austin Ashton - Kitchen

[Read more...]

Filed Under: austin apartments, Austin photos, images, downtown austin, Downtown Austin lofts, condos, apartments, Real Estate Tagged With: , ,

Downtown Austin Condo Sales

by | March 30, 2009 |Leave a Comment
Downtown Austin Condos By The Numbers

Downtown Austin Condos By The Numbers

We love numbers here at DAB, and AustinTowers.net takes a look at average sale prices (per foot) for each building in Downtown Austin over the past 14 months.  You’ll find each building ranked by price/foot in descending order.  5 Fifty Five takes the top spot at $473/ft.  You might be surprised to see the Westgate show up at $325/ft.  Greenwood Towers sets the floor at $197/ft.

The most interesting result might be Plaza Lofts coming in at an average of $291/ft.  Plaza Lofts is the most centrally located of all downtown Austin condos.   These numbers have a back story, which is what I assist my clients with.  Over the past 14 months, the Plaza Lofts has been subjected to construction expectations.  Gables Republic Park was scheduled to begin construction next door to the South.  Andrews Urban/Novare were expected to push their Ovation project where the post office is located.  This would have killed many people’s views of the hill country.  It doesn’t appear that either of these projects will be complete within the next five years, if not longer.

Another key point to remember about Greenwood Towers, the least expensive Downtown Austin condo, its intrinsic value is significantly linked to the fact that the building sits on a land lease which expires sometime near 2050.

Complete AustinTowers.net Analysis (link)

Ranked in descending order:
5 Fifty Five, $473/ft
Nokonah, $442/ft
Brazos Place, $370/ft
…
Villas on Town Lake, $241/ft
Towers of Town Lake, $228/ft
Greenwood Towers, $197/ft

Filed Under: data, statistics, development, downtown austin, Downtown Austin lofts, condos, apartments, Real Estate Tagged With: ,

No Development Permit Extensions Says Austin City Council

by | March 29, 2009 |2 Comments

According to the ABJ, Austin City Council has voted against one-time development permit extensions which would extend the time frame real estate developers had to commence with their project from three to five years.  Sponsored by the newest Council Members on the dais, Randi Shade and Laura Morrison were not around in 2006-2007 to vote on urban infill projects.

Development permits will likely expire before any rebound in the capital markets.  If the land where the development was to occur has already been razed (Marriott), then the outcome of this ruling is most likely blight – empty lots, not generating property taxes, and often surrounded by chain link fence.

A far better solution would have been to levy fines or taxes on undeveloped land.   Because, you know, that could have generated money for the city!

Link to agenda item

Filed Under: city council, downtown austin, urban planning

Coordinated Urban Candidate Forum – April 4th

by | March 27, 2009 |Leave a Comment

In what could become the most attended and media covered of all the candidate forums, mark your calendar for the coordinated Urban Candidate Forum.

On Saturday, April 4th the Downtown Austin Neighborhood Association will co-host a forum to learn where the city council and mayoral candidates stand on the issues that affect Austin and its urban core. The major candidates will debate such issues as economic development, the livability of the downtown neighborhood, public spaces, urban rail, and parking.

DANA is combining forces with:

-Downtown Austin Alliance (DAA),
-Congress for New Urbanism (CNU),
-Alliance for Public Transportation,
-Old Austin Neighborhood Association (OANA),
-Rail4Real,
-Austin Parks Foundation,
-Austin Metro Trails and Greenways,
-6ixth Street Austin,
-Austinist.com.

Complimentary coffee, water, and light breakfast items will be provided.

WHEN: Saturday, April 4th, 10 am – 1:30 pm

WHERE: St. David’s Episcopal Church @ 304 E. 7th Street (map)

Paid parking will be available in the St. David’s garage. You may also plan your trip using Capital Metro’s trip planner. Enter the church at the intersection of 8th & San Jacinto.

Filed Under: city council, downtown austin

Downtown Austin Car Share – Smart Car Pilot Program

by | March 27, 2009 |2 Comments
How do you increase parking? Shrink the cars, of course!

How do you increase parking? Shrink the cars, of course!

Daimler will partner with the City of Austin to operate a car-share pilot program, Mayor Will Wynn announced yesterday morning.

From the Statesman:

“The city will set aside urban-core parking spaces for 200 of Daimler’s “Smart” cars. Rather than paying for the spaces, Daimler will let city employees use the cars for a number of hours that’s equal to the monetary value of the spaces. (That amount hasn’t been determined yet; it will be negotiated over the next few weeks, city officials said.)…The program will start in October and run for six months. Daimler will pay for fuel, maintenance and insurance during that time, said the city’s transportation director, Robert Spillar.”

The car share program is a proven model in many cities, and the Smart Car program specifically is already smashing success in Germany.  Austin mayoral city council candidate Chris Riley is responsible for Austin Car Share – a small but well utilized car share program in Downtown Austin.

Thanks to Austin Contrarian for picking up on this story.

Filed Under: austin transit, city council, downtown austin, urban planning

Downtown Austin Retail > Walton's Fancy & Staple

by | March 25, 2009 |5 Comments

UPDATE

Back in December I reported on the construction activity at 609 W 6th.  It appears that Walton’s could be open any day now.  The doors were locked so here are some photos from behind the windows.  I dig the bistro furniture and old-fashioned look.

Waltons Fancy & Staple

Walton's Fancy & Staple

This will be a great addition to West 6th.   Another perspective…

Waltons Fancy & Staple

Walton's Fancy & Staple

Filed Under: downtown austin, Real Estate, retail, small business

Austin Medical School Courtesy of Carole Strayhorn?

by | March 23, 2009 |6 Comments

Here is an intriguing idea courtesy of Carole Strayhorn!

1) Build a medical school, 2) enhance the medical/bio-tech industry in Austin, 3) create jobs, 4) create revenue for the city.

“This Council Spent $2.3 Billion for Biomass Energy in Nacogdoches. For less than half that cost, we could build this medical school, create $1.5 billion a year in revenue, and create 14,400 permanent jobs.”

If built in close proximity to Brackenridge, which I assume it would be, this could bring much needed life to the northeastern quadrant of downtown Austin.

Refreshingly, this makes good sense.

[link]

Filed Under: city council, downtown austin, Real Estate, urban planning

A Vision For Austin Rail

by | March 23, 2009 |1 Comment

Imagine you work in Austin, but you live in San Antonio.  Rather than enduring Interstate 35 each morning, in a more perfect world you would have a rail system that drops you off into a downtown terminal.  Imagine if our city leaders could design a “Grand Central” of Austin.  This short homemade video makes Austin appear to be an international city.  It’s incredible to see the city come into view.

These days CapMetro can’t seem to tie its own shoes.  I do hear Amtrak is getting stimulus money, though.

link [via skyscraperpage]

Filed Under: austin transit, city council, urban planning

Shepard Fairey Wheatpaste at Mellow Johnny's

by | March 21, 2009 |Leave a Comment

SXSW is over and the cityscape is improved with this new wheatpaste.   Shepard “Obey” Fairey and his team on Thursday.

See more at Flickr

Filed Under: retail Tagged With: ,

Downtown Austin Apartments: 404 Rio Grande

by | March 21, 2009 |Leave a Comment

Continuing this week’s theme of apartment reviews…

404 Rio Grande is the oft neglected apartment complex in the core of downtown Austin. (Gmap)  It doesn’t evoke the same reaction as the Monarch or AMLI on 2nd.  Still, 404 Rio Grande, at the corner of West 5th and Rio Grande, has one of the best locations in downtown Austin.  The rents are cheaper, too.  Unlike the new high rises parking is included for you and your guests.

Don’t expect the finishes to be similar to Monarch, its next door neighbor.  It would be easy to frown upon 404 Rio Grande’s faux-hardwood-laminate flooring and white appliances while paying a substantial rent.  Washer and dryer are not included.  Still, the loft style design of AMLI is not preferred by everyone, and 404 Rio Grande’s units are cozy – ultimately you are paying for location.

So, if your budget or desires don’t call for a 24-hour concierge or loft-like design, you might consider 404 Rio Grande.  After incentives, which constantly change at every building, one-bedrooms begin around $1300 and two-bedrooms around $1900.  The biggest challenge for a renter interested in 404 Rio Grande is availability.  404 Rio Grande has been fully occupied for a couple of years so, unlike the new high rises, availability depends on someone moving out.

If you are considering a move downtown, feel free to give me a call!

Jude Galligan, Downtown Austin Realtor
judegalligan [@] gmail.com
(512) 226-3414

Filed Under: austin apartments, development, downtown austin, Downtown Austin lofts, condos, apartments, Real Estate, video Tagged With: , ,
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