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Chronicle Takes Notes on the Downtown Austin Condo Market

by | March 13, 2009 |4 Comments
Hell has frozen over

Hell has frozen over

OK.  I just got blindsided by this story.

The Austin Chronicle has just published one of the most balanced and insightful articles about Downtown Austin condos I’ve ever read.  Below are a handful of quotes taken from our beloved local-leftist-zealously-liberal rag(?)

“…Austin has a reputation nationally as being a pain-in-the-ass city in which to get a project done. (Thank demanding city regulations and laborious processes, environmental protections, and our activist neighborhood associations and citizens.) Our reputation actually helped stabilize the Austin market, discouraging overbuilding and a Miami-like volume of investor-driven projects.”

Benefits to the city:

“As Mayor Wynn points out, on average, 80 percent of all taxes generated Downtown go to provide services outside of Downtown, in effect subsidizing other areas of town”

Benefits of high density:

“High-rise development also contains city costs, in comparison to the suburban model. “If 178 families live on 1-acre lots, the city is charged with maintaining four to five miles of streets, water lines, wastewater lines, drainage pipes,” and so forth, said Mitchell, as well as city services to 200-plus acres. “The Austonian abuts 334 linear feet of streets, water and wastewater pipes, and drainage pipes and consumes less than an acre of land. That makes it far more sustainable, and less expensive to the city, than a sprawling subdivision of similarly priced homes.“

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

DAP phase II approved!

by | March 12, 2009 |Leave a Comment

Great news!  According to our knowledgeable members of DANA, the vote passed 7 – 0 this morning.  Laura Morrison moved to postpone the vote but there was no 2nd.

Just in from the ABJ…

“The Austin City Council approved a a professional services agreement with San Francisco-based Roma Design Group for planning services to complete the Downtown Austin Plan.”

Filed Under: city council, development, downtown austin

Insider Deals

by | March 12, 2009 |Leave a Comment

My business is Downtown Austin Real Estate.  Not West Lake, not Circle C, not Hyde Park, not Tarrytown – simply Downtown Austin!

Deals are getting done in Downtown Austin.  Sellers are loathe to publicly lower prices.  Instead, they sporadically reach out to a handful of market makers and suggest a price when they need to get a deal done.  I’ve seen developers require a non-disclosure agreement!  Who cares, you just got a great deal because you were in the know.  Recently, my firm has negotiated deals of 30% off asking price.

Are you in the know?

I am opening up my insider deal contact book to prepared buyers that are pre-approved and ready to negotiate.  This is an invitation to join my short list of buyers who receive a heads up whenever a seller contacts me motivated to make a deal.  This goes for condo sales AND apartment leases.

Being prepared to close is the key to negotiating a super deal.  You, or someone you know, can be added to my distribution list by sending me an email including:

-a pre-approval letter from your lender (if you are buying)
-your desired amount of space

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

Filed Under: buildings, Downtown Austin lofts, condos, apartments, office, Real Estate

City Council to Vote on Phase Two of Downtown Austin Plan

by | March 12, 2009 |4 Comments

On today’s city council agenda, item #4 is a vote to fund phase two of the Downtown Austin Plan.  The city and downtown Austin stakeholders have invested hundreds of thousands of dollars in time and money to design a downtown befitting a world class city.

Laura Morrison, Lee Leffingwell, and Mike Martinez are expected to align themselves against downtown.  After all, if you study the Statesman you’ll realize that it’s en vogue to hate on downtown.  Though, these council members will vote against downtown under the guise of fiscal responsibility.

Dont’ be fooled!

Politically they are posturing themselves to support a comprehensive plan for the city.  Something that could take years, will certainly require more expensive consultants, and just as easily could be thrown out as they seem to want to do with the Downtown Austin Plan.  The City’s shelves are thick with research studies and improvement plans which have never been implemented.

I hope I’m wrong.  We should know by lunchtime how each council member voted.

Filed Under: city council Tagged With:

Austin Community College Purchases Two Downtown Properties

by | March 8, 2009 |Leave a Comment

Thanks to DANA board member Roger Cauvin for the heads up!

ACC has purchased 800 and 812 w 12th Street (Gmap).  Combined, these properties take up a chunk of the Northwest corner of 12th @ West Ave.  This isn’t surprising as ACC’s enrollment has surged in recent years.

From the article:

“The ACC District approved the purchase of two downtown properties this week.  ACC paid $1 million for the sites at 800 and 812 W. 12th Street in Downtown Austin….General obligation bonds paid for the purchase.”

Filed Under: downtown austin, Real Estate Tagged With:

Waller Creek Tunnel – council approves budget for engineering review

by | March 5, 2009 |Leave a Comment

Waller Creek Tunnel project inches forward.  According to the ABJ, “Austin City Council approved an agreement with Austin-based H.R. Gray to provide engineering services for the Waller Creek Tunnel project.  The contract amount is up to $300,000.  H.R. Gray will conduct an engineering review of the Waller Creek Tunnel project’s design and construction plans.”

Baby steps.

Filed Under: city council, development, downtown austin, entertainment district, urban planning, waller creek Tagged With: ,

City Parking Meters

by | March 5, 2009 |8 Comments
City of Austin getting new parking meters
City of Austin getting new parking meters

City of Austin getting new parking meters

Rob Spillar stopped by the DANA board meeting this past Tuesday to share his recommendation to replace the existing parking meters.  Quite simply, the recommended system is VASTLY superior (ppt) to the old meters.

Highlights:
1) potential to partner with CapMetro to purchase bus/rail tickets
2) potential for city to compete with parking garages on weekend nights
3) time purchased is transferable to other parking locations
4) free parking for motorcycles and scooters

Today, Austin City Council approved the new parking meters on consent.

-Jude

Filed Under: austin transit, downtown austin, urban planning

No more weekend Dillo

by | March 5, 2009 |Leave a Comment
No more weekend service for the Dillo

No more weekend service for the Dillo

According to CapMetro, weekend Dillo service isn’t getting enough ridership to support its continued operation.  My question is, at $0.50 per two hour pass, were they ever expecting it to?

This would be especially frustrating news for commuters if the Commuter Rail was running weekends… but it’s not.

http://capmetro.org/news/news_detail.asp?id=6335

Filed Under: austin transit, downtown austin

El Sol Y La Luna – it's all good

by | March 4, 2009 |9 Comments
El Sol y La Luna: a catalyst for change on east sixth street
El Sol y La Luna: a catalyst for change on east sixth street

El Sol y La Luna: a catalyst for change on east sixth street

Quick… think of the top three table-service restaurants, east of Congress, which are open at 7am to serve breakfast on weekend mornings?

Stumped?  Can’t even think of one?

There weren’t any, until now.

This morning I had breakfast at the new El Sol y La Luna restaurant at 6th & Red River.  THIS is what is needed on East 6th Street!  There are so many residents and visitors in this area ready to spend money on items other than alcohol.   I’ve never been to their first location on South Congress, but the vibe was a combination of Magnolia meets Las Manitas meets Habana.   The food was very good (I had an american breakfast of eggs, bacon, and waffles).  Two entrees, two drinks, plus tip was $25.  El Sol y La Luna gave me a reason to walk on the northern edge of the 600 block of East 6th street, which is a good sign for other businesses to move to the district.

I don’t want to sound overly grand, but I really think that in combination with the efforts of the DAA, DANA, and 6th Street Austin, El Sol y La Luna is the catalyst for change on East 6th.  Show your support through patronage.

El Sol y La Luna

-Jude

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

urbanspace party pics

by | March 4, 2009 |1 Comment

Thanks to everyone that joined us this past Friday to celebrate the opening of our new office at 5th & West.   By all measures this was one for the downtown history books.

Amber Gugino and Lesley Taylor (party organizer who deserves much kudos)

Mr. and Mrs. Justin Bayne

Burns and kin.

More pics at Austin360

More pics at AnnieRay.com

Filed Under: Austin photos, images, downtown austin
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