Plan To Revitalize 6th & Congress Announced, Underwhelms Everyone

Plan To Revitalize 6th & Congress Announced, Underwhelms Everyone

5thandcongressave

Stream Realty Partners has a contract to acquire the downtown block bounded by Congress, Fifth, Sixth and Brazos streets, according to the Austin American-Statesman.  Here are the details on what’s planned:

  • The deal consists of five parcels totaling 2.3 acres at the southeast corner of Congress and Sixth, plus a half-block directly east on Fifth Street between Brazos and San Jacinto Boulevard.
  • Stream Realty is acquiring the portfolio in a partnership with Wanxiang America Real Estate Group and Diversified Real Estate Capital. Heitman LLC is providing financing.
  • The site includes the 26-story Bank of America tower. Stream will continue to operate the 256,911-square-foot tower, which is 90 percent leased, as an office building and leave as is.
  • Vacant 501 Congress building will be remodeled by 2014 into a contemporary five-story building with 112,000 square feet of first-class office space and a rooftop deck.
  • Existing valet parking garage will be torn down and replaced by 2014 with an eight-story parking garage with 300 spaces and street-level retail space
  • The site also includes the nine-story Littlefield parking garage with 535 spaces, plus 24 apartments and 30,000 square feet of retail space. By the end of this year, Stream plans to renovate the apartments as well as the retail space, which has been vacant.
  • The half block site on East Fifth Street between Brazos and San Jacinto, which is home to a Bank of America drive through, will be sold for an unknown development.

6th Cong plan

Much of this site is entitled with 25:1 FAR, so it’s a disappointment to see an absence of big plans.

Still, it will be better than the vacant buildings currently occupying the 5th Street block between Congress and Brazos.  It’s hard to notice these days, given the amount of foot traffic that passes by this block creating an illusion of activity, but this is a major dead zone within the core.

The glass is half-full, though, and of the changes coming to this block, we’re most excited about street level retail being added where that valet garage is now. So much of the urban experience takes place at eye level within the street-scape.

The street belongs to everyone, whether you are a visiting hipster from Tulsa, Oklahoma in town for ACL, a Bastrop native walking to a lunch appointment, a UT student looking for love on Sixth St. or a family from Bee Caves enjoying downtown on the weekend. Having active storefronts makes downtown feel welcoming and alive, and having them lit at night adds an air of comfort and safety that an inhuman, dark parking garage does not.

This is an exciting time to be watching and writing about downtown Austin. The rate of change and investment is unprecedented and is an incredible maturation of the policy strong Austin mayors like (state Sen.) Kirk Watson and Will Wynn put in place.

-Jude

Remainder of Austonian Block Sold

Remainder of Austonian Block Sold

wccg-austonian-block

The remainder of the downtown block surrounding the Austonian has been purchased from the Nalle family by World Class Capital Group.  There are no immediate plans for the site.

“The site that was purchased — about 1.3 acres — is bounded by Congress Avenue and Second, Third and Colorado streets. It includes a surface parking lot along with the land and building that house the Austin Children’s Museum, which will be relocating to the Mueller development in Northeast Austin, and Compass Learning.” – Statesman

WCCG has acquired several premiere downtown sites over the past couple of years, including Katz Deli, Spaghetti Warehouse, and the warehouse at 97 Trinity (across Cesar Chavez from the Convention Center).

 

The Highest And Best Use of Congress Ave Retail Store Frontage Is Not CapMetro

The Highest And Best Use of Congress Ave Retail Store Frontage Is Not CapMetro

capmetro-austin-congress-ave

One of the things that always seemed curious to me is how and why Capital Metro (@CapMetroATX) occupied prime square footage on a heavily trafficked part of Congress Avenue, next to Annie’s. For many years, Cap Metro occupied the first and third floor of this three-story building.

Well its lease expires this coming April, and it seems the landlord is raising the rent. As a result, Capital Metro is moving into 209 W 9th Street (southwest corner of Colorado and 9th), which is owned by Harry Whittington.  There, the transit agency is signing a 5-year $3.3 million lease on 18,800 square feet.  This will allow the consolidation of two call centers – one currently housed at the 323 Congress Ave.

For years, the good energy of clear windows (“fenestration” for my fellow wonks) and ambience of Annie’s seemed to kind of get sucked way by the dark, looming, uninviting storefront of Capital Metro next door.

So what’s next for 323 Congress?

The entire building is 21,900 square feet, and  features open floor layouts, ample lighting and excellent visibility to Congress Ave.  According to this undated flyer from Weitzman, it appears to be listed for sale ”between $2.5 million and $7.3 million.”  Or, it could be for lease $24-36/ft/yr by Cielo Realty Partners, as it’s shown on Loopnet.

I’ll be surprised if this languishes too long.  Office vacancies downtown have recently fallen below 12%, according to this Dec. 11 Austin Tenant Advisors press release, which compares well to other major cities such as Atlanta which reports a 24% vacancy rate. Average lease rates for all classes are averaging around $30/square in the downtown area while landlords of Class A office properties are quoting $38/square foot, or higher.

This, in part, is being driven by a number of web/computing-based companies setting up shop downtown, which is about as a good of a thing as a city could ever hope would happen to its downtown office space.  We can expect a higher and better use of our ground level retail, however.

FYI urban transit commuter: The transit store, where folks pick up passes, pocket maps and the lost & found, is also moving to the new location on 9th Street.

Downtown Austin Pharmacies: CVS Pharmacy Now Open on Weekends

Downtown Austin Pharmacies: CVS Pharmacy Now Open on Weekends

cvs

Probably not the most urgent of news, but I got really excited about it none-the-less.

The pharmacy at CVS on 5th street, the only pharmacy in downtown Austin proper (the now closed Live Oak Pharmacy used to the closest next best thing), is now, finally, open on weekends!

For those living in downtown Austin condos like the Austonian or the Brazos Lofts, especially…your prescription filling life just got a lot easier.

And, just to be clear, this is NOT a plug for CVS, simply a plug for convenience.

2012 Downtown Living Tour – Showcasing Downtown Austin

2012 Downtown Living Tour – Showcasing Downtown Austin

DLTlogo

Next Sunday, April 22, 2012, from 11am-5pm, is the 2012 Downtown Living Tour.  The Tour is a showcase of homes located in Downtown Austin, and is put on by the Downtown Austin Neighborhood Association (it’s DANA’s only fundraiser, and helps keep the organization chugging throughout the rest of the year).  A portion of proceeds this year will also go to The Health Alliance for Austin Musicians (HAAM).

The 2012 Downtown Living Tour has [Read more...]

Thursday CASH MOB @ Congress Avenue Card & Gift Shop

Thursday CASH MOB @ Congress Avenue Card & Gift Shop

cash mob

A Cash Mob is the same premise as a flash mob, but people all show up at a local business and spend money. It’s a simple and fun way to encourage people to support small local businesses by spending their money en mass.

How can I participate?

Just show up! Bring $20.00 to spend, a few friends and come to the Congress Avenue Card and Gift Shop to give a local business an “economic stimulus”. It’s a win/win, spend some money locally with friends and buy some cool stuff!

Event Details:
When: Thursday, April 5th 12-2pm
Where: Congress Avenue Card and Gift Shop (615 Congress Ave. bw 6th & 7th St.)
Why: Help a local business!
Bring: $$$ and Friends

cash mob

 

 

Street Patio Experiment: Congress Ave @ Royal Blue Grocery

Street Patio Experiment: Congress Ave @ Royal Blue Grocery

1 royal blue street patio

I love this idea for downtown Austin.  Convert two duck-in parking spaces in front of Royal Blue Grocery on Congress Ave, in order to improve the pedestrian experience and create a retail destination.

“Street patios” have been implemented before in other cities, successfully, under the badge of “parklet” or “pop-up” cafe.

Upon approval by Council, later this month, the initiative would be a partnership between the City of Austin and Royal Blue Grocery, with design coming from Studio DWG and civil engineering firm Big Red Dog.

The street patio in front of Royal Blue Grocery is just a trial run.  If successful we could see more street patios in other parts of downtown.  The results should provide more space for pedestrians and a cafe sitting area, similar to Jos on 2nd Street.  WIN!

More pics after the jump.   [Read more...]

What Type Of Retail Will Replace The AMOA?

What Type Of Retail Will Replace The AMOA?

AMOA retail space - 3

With downtown Austin’s AMOA no longer exhibiting at 823 Congress Ave, what will fill the void?  Most stakeholders I know are hoping for retail.

The corner space includes 12,000 square feet, lots of glass (fenestration for the urbanistas), and has a nice outside plaza.

It’s clear what is missing from the downtown retail mix: a large destination retail store that appeals to a broad base of customers; rather than a boutique store with a limited audience.

Will us downtown Austin condo dwellers get our wish for a Breed & Company or Target (don’t hate!).  Time will tell.  Until then it’s fun to speculate about how to achieve highest and best use of this great space.

What do you want to see?  Use the comments and see more pics after the jump.   [Read more...]

Brooks Brothers Brings Back The Brass

Brooks Brothers Brings Back The Brass

brooks brothers window entry way downtown austin - 2

Walking up to the entrance of the new Brooks Brothers store in downtown Austin‘s Scarbrough building, I smiled.

I thought to myself, this is how downtown retail should look and feel.  The entrance has a gilded age grandeur that we’re no longer accustomed to in a downtown retailer.  Big window displays run the length of the building.  You’re greeted by brass doors with elegant hardware.  It’s the details that matter. [Read more...]

Urban Wine + Liquor Takes Last Retail Space At The Austonian

Urban Wine + Liquor Takes Last Retail Space At The Austonian

the austonian - photo credit Thomas McConnell

The last retail space under downtown Austin’s Austonian condos will go to Urban Wine + Liquor and its proprietor, Austin-based wine expert Buckley Wineholt (great name for a wine expert).

The store will offer wine, spirits, beers, barware, imported cigars and cigarettes, and a choice of artisanal foods including Texas-produced items. The shop’s 2,615-square-foot storefront on Congress Avenue will be designed by local design-build firm Bercy Chen Studio.

The Austonian retail has turned out to be a boon for Congress Ave.  I’m a big fan of the Caffe Medici space – one of my favorite coffee shops.  This should be a compliment to the neighboring Second Bar + Kitchen, too.