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5th Street Commons

March 18, 2009 By 1 Comment

This morning the I visited the folks at 5th Street Commons.  They kindly invited me for a tour of their new digs, and to discuss the incentives currently available to renters.  Located on the outskirts of downtown Austin, the 150 apartments at the 5th Street Commons are sufficiently close enough to downtown to be included here.

What I like:
1) Ground floor retail and street side parking.  Once fully occupied with commercial tenants this should become another walkable district.

2) Smart floor plans.  At only 759/ft, the A1 plan is incredibly spacious with enough room for a dining table, kitchen island, and laundry room – without feeling cramped.

3) It’s equidistant to Whole Foods as the Sabine, and closer than Legacy on the Lake, Milago, etc.

4) Standard size washer and dryer included in all units

With advertised incentives, the rents are roughly 10-20% less than AMLI on 2nd or Monarch.   Accounting for two months of free rent on a 12 month lease, one bedrooms should begin around $1300 (studios even less), two-bedrooms around $1700.

-Jude

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

Dahmus Has Insight Into Noise Complaints

March 18, 2009 By 2 Comments

“OMG! All these people moving downtown are complaining about live music!” crap.

According to M1EK, “the people pushing for the extra restrictions on live music outdoors are NOT the people downtown.”  Rather, it is the zealous Austin Neighborhood Council groupies.   The problem is how this plays out in the media (Jeff Ward) as it is currently en vogue to scorn downtown Austin residents.  They are exploiting a good media spin, and are using, as M1EK puts it, “downtown residents as cover – most people living downtown view music as an amenity, not a problem.”

My building is roughly 100ft from Sixth Street.  Venue noise is not a problem.  Now, if you can get the ambulances and fire trucks to go easy on the siren, that would be nice!

Link

Filed Under: downtown austin, entertainment district, rumors, gossip

Statesman Blotter Headlines

March 18, 2009 By Leave a Comment
David Cross robbed your bank

Did David Cross just rob your bank?

Recently, the Statesman’s Blotter headlines have provided me with a few chuckles.  I don’t intend to make light of the actual crimes – at all – just the headlines.

The above man, bearing a strong resemblance to David Cross (aka. Tobias Funke), apparently entered a bank and demanded money.  The bank gave it to him. Is it really that simple?  Then, there was the story of two men stealing socks and a chicken from Wal Mart in Cedar Park.  Look at those ready-for-myspace mug shots!  Next, was a story involving a carnival worker.  Not a funny story.

Filed Under: austin news, miscellaneous

Texaplex!!!!!!

March 17, 2009 By Leave a Comment

This Texas meme has been circling for a couple of days.  Cool video discussing Texas’s economic engine – 75% of the state’s population exists in the triangle formed by San Antonio, Dallas, and Houston.

From the Texaplex website
“The global financial crisis is a vicious cycle. The more we hear and talk about it, the worse it gets. However, in spite of all the national bad news, Texas is prospering! Texas, and in particular the Texaplex, has some pretty impressive facts that most Texans weren’t even aware of. This video is part of the Texaplex project which has set out to change that.”

Filed Under: video

From the archive: What Does Downtown Austin Need?

March 17, 2009 By Leave a Comment

Last month I wrote about six items downtown Austin could significantly benefit from.  It’s a slow news morning, so I thought I would re-post the links together.  Politicians love to talk, form task forces, and spend time doing everything except for making decisions as they are needed. So, this is an appeal to Downtown Austin stakeholders that know how to get things done: the residents, developers, retailers, and land owners.

This is what we need:

1) Super Target on Congress Ave. (link)
2) Hardware store on Congress Ave. (link)
3) More bodega grocers (link)
4) Move social services away from Sixth Street (link)
5) Improved landmark protection and design standards (link)
6) Urban Rail (link)

-Jude

Filed Under: downtown austin, miscellaneous, retail, small business, urban planning

Ashton Austin – Buzz

March 16, 2009 By 5 Comments

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.

Ashton Austin - Cesar Chavez @ Colorado

Ashton Austin - Cesar Chavez @ Colorado

People are wondering when the Ashton (formerly “Alta Vida”) will be ready for move in.  Hanover’s 259 unit building has been an informational black hole.  No pricing, no floor plans, no launch date.  Nada.  The lack of information keeps us intrigued!

I spoke with a contact at Hanover this morning and was able to dig up a few juicy facts.

1) There will be five penthouse units ranging from 2,527/ft – 3,218/ft
2) No three bedroom units (except for two of the five penthouses)
3) The largest suite is a 2/2.5 + study at 2,200/ft
4) At 880/ft, not including a balcony, the smallest one-bedroom is relatively large
5) Pricing has not been finalized but is expected to be at par with AMLI on 2nd
6) Level seven will feature an amenity deck (pool, fitness, lounge, etc)
7) There are three 1,550/ft live/work units (2bds/1.5ba) on the first floor featuring a garage and access from the ground level

Move in is planned for May 1st! So, we should see pricing and floor plans within 2-3 weeks.  If you want to see what the finishes will resemble check out 7riverway.com

-Jude

Filed Under: austin apartments, downtown austin, Downtown Austin lofts, condos, apartments, Real Estate, rumors, gossip

Is Second Street a Success?

March 15, 2009 By 9 Comments

The ABJ poses the question.  The real question is: why is retail turnover so high on Second Street?.  The answer is quite simple and academic.

Income < Expenses

There you go.  The worst economy in a century does not generate enough income for a boutique clothing or furniture store to thrive.  Combine that with already expensive leases (in the ballpark of $32/ft NNN) and Second Street finds itself in a perfect storm for tenant default.  Eventually, empty store fronts will have a snow ball effect on adjacent retailers.  Landlords are loathe to lower their lease rates, but perception is often reality, and the perception of Second Street is “luxury” goods.  Many marketers will tell you that “luxury” is no longer a good adjective to promote your wares.

Now, as I’ve written before, the tenant mix on Second Street, and in downtown Austin in general, is out of balance.  The next wave of successful retail in Downtown Austin will be for stores offering goods and services that people can afford and need to purchase on a regular basis.

Address the tenant mix problem and Second Street will be an unquestionable success.

Filed Under: downtown austin, Real Estate, retail Tagged With:

Bird's Barbershop opens just east of Downtown

March 14, 2009 By Leave a Comment
Birds Barbersop on East Sixth

Bird's Barbershop on East Sixth

This was completely off of my radar, and I’m not sure when it opened.  I’m glad it did!  More good news for East Sixth as Bird’s Barbershop has opened their third location.  I’ve been to Bird’s on South Lamar a few times and it’s a damn fine place to get your hair shortened.  Good people.  Good vibe.  Beer.

I’m partial to Goodlife Barbershop, but Bird’s is a welcome addition to East Sixth.

http://www.birdsbarbershop.com/sixth.html

Filed Under: downtown austin, retail

Sabine Residents File Lawsuit

March 14, 2009 By Leave a Comment

Shonda Novak is reporting on the recent lawsuit filed by the Sabine on Fifth residents against the developer, CWS, to repair the elevators and resolve the property tax issues.

I am a resident owner at the Sabine and understand that ALL condominiums face challenges.  While the issues sited in the article are serious, the solutions are within reach.  Ironically, the residents’ and developer’s interests are somewhat aligned – fix the problems and refocus on what makes the Sabine a great place to live: its uniqueness, its residents, and its location.

-Jude

Filed Under: downtown austin

Dillo hours expanded during SXSW

March 13, 2009 By Leave a Comment

From City of Austin website:

“Capital Metro’s Dillo service will run until 11 p.m. each night and its “Night Owl” routes will provide late-night travel between midnight and 3 a.m. Check www.capmetro.org for downtown routes. “

Filed Under: downtown austin
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