Downtown News and Rumor Round-up

Downtown News and Rumor Round-up

Fairmont hotel spurs nearby land deals

The dirt parking lot across the street south of the Fairmont hotel site, plus with the Iron Works BBQ auxiliary parking lot (due south of Iron Works BBQ) are both under contract, which hints at future development.

Plans are not being disclosed, but one buyer group is reported to be local and the second is from California. Robert Knight and Perry Lorenz own the land are are also selling a lot at Red River and Fourth Street.

The Austin Business Journal has more

Austin Towers has more on the Fairmont

Contract map

Downtown a major draw for new residents

The Austin American-Statesman parsed some census data and confirmed that downtown is a major destination for the hoards of people migrating to Austin.

Downtown Austin had the highest percentage of Austin residents who had lived in another state one year earlier. About 1 in 10 of downtown’s population moved from another state.

A commenter to the story, said: “The first thing the agent showed us when we moved here was Steiner Ranch. We asked her to turn the car around and leave. Steiner is exactly the kind of place you find in Anytown, USA. Why bother to move here? We opted for downtown. DT is Austin.”

Statesman has more

Downtown businesses launch car-reduction program

The Austin City Council approved a measure to help fund a pilot program for downtown business tenants to encourage their employees to get to work without a car.

This could include bike parking, employee subsidies for car sharing or transit passes, alternative work schedules or workplaces with locker and shower facilities. (Still waiting on bike share, City Hall people. What gives with the hold up?)

Businesses will have to apply to participate in the pilot project. Applications will be accepted through April 30, and the program will be activated between May and June. For more information visit the program website.

KUT News has more

Local Texas lawmakers take on Congress Ave. development

Bills filed by State Sen. Kirk Watson and State Rep. Donna Howard would make the stepback standards that the city currently enforces in the area into a state law. It is being reported that the Downtown Austin Alliance supports the bill.

The Austin Contrarian blog posted a critique, which drew a full-fledged response from Sen. Watson.

The Austin Business Journal has more

About Jude Galligan

Jude Galligan, REALTOR, Principal of REATX Realty and publisher of Downtown Austin Blog (aka. "DAB"), spends his time matching remarkable people with remarkable properties in Austin’s urban core. A resident owner in downtown Austin, Jude serves on the Board of the Downtown Austin Alliance (DAA) and the City of Austin Downtown Commission. Contact Jude.

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Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 10/21/14 12:11 PM PDT. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided “AS IS” and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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