Federal Courthouse Gets Stimulated



This is everywhere today, so I won’t rehash the details, but according to KXAN, $116MM of stimulus funds are going to build what we’ve been hoping would just go away – the Federal Courthouse. Eek! The design of the proposed federal courthouse is postmodern brutalism.  Previous discussion over at Austin Contrarian.


Insider Deals

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

Spring condos topping out party pics

Spring condos topping out party pics

[shameless plug 🙂 for more information about buying at the Spring condos, including the inside scoop on pricing at Spring and at other luxury buildings in downtown Austin, contact Jude Galligan, Downtown Austin Realtor   (512) 226-3414   judegalligan [@] gmail.com

Southwestern view from 41st floor at Spring condos

Southwestern view from 41st floor at Spring condos

If you witnessed a line extending half-a-block down w. 3rd on Tuesday evening it was the line to get to the top of Spring condominiums.  The party was to celebrate their topping out at the 41st floor.  Using the cargo elevator, attendees were taken to the 41st floor.  Once on the 41st floor you walked off the cargo and greeted by a cavernous space filled with guests (similar to the Austonian party).  Judging by the line and logistical challenges, including a 45 minute wait to get a tour of the interiors, I don’t think the Spring developers planned for the volume of guests!  Still, the drinks were flowing and everyone looked to be having a great time.  The views were what you would expect at that level… while the sun was setting… amazing.

Guests were also invited to tour a couple of furnished model units.  Many existing buyers were in attendance, eager to get their first glimpse of a completed floor plan.

After the jump you can find a few pics of the interiors.

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Proposed Federal Court House Discussion

Over at Austin Contrarian we can find some interesting thoughts on the [poor] location of the proposed Federal Court House. Specifically, I give it up to Miggy for this simple, yet significant, observation:

“Taking a one-block by one-block square of valuable downtown land largely unencumbered by the capital view corridors off the tax rolls permanently doesn’t help Austin at all. This is where density should be targeted and this building is far from helping that goal. Also to say that the bunker-on-three-sides structure is pedestrian unfriendly would be an understatement.”

Also, Miggy brings up another concern about moving the post office to Red River.

“On a final note – the moving of the Post Office to over near Club de Ville and Red River makes no sense to me either. How many office workers will find that location convenient? And how will that dead retail streetfront (or worse-yet – similar suburban parking lot and drive-thru) help the still nascent Red River entertainment district which is already threatened by any number of other forces. I don’t know what the reasoning was but just based on my surface knowledge – they should have kept in the bottom of the Ovation building as planned.”

Andrews Urban and the Post Office own the block of land across from Stubbs. The post office was going to move there in order for Andrews Urban/Novare to build Ovation where the current post office is located. IMHO, Ovation has ZERO chance of being built within the next five years, so hopefully Miggy’s point is moot.

Day five, becoming a model urban neighborhood: what does Downtown Austin need?

Each day this week I am serving up one item, with non-politically correct candor, that Downtown Austin needs to become a model of re-urbanization, as I see it.

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.

Improved landmark protection, design standards, and enforcement

This is an average landmarked building on East Sixth Street.  Here is another – note the beautiful brick archwork accented by a plywood sign!  The building owners, tenants, and the city should be embarrassed.  So much of Austin’s history exists in those buildings.  Any building that has a landmark plaque should be respected and preserved.

The city may say “we don’t regulate ugly”.  They should.  The city must better leverage the Historical Landmark Commission and Heritage Society to protect the facades, awnings, and cleanliness of our historic buildings..  Unless the city begins to affect positive change, we will continue to see the warehouse district disappear and East Sixth Street deteriorate.  It appears that voluntary compliance by landlords to maintain an expected (or expressed) standard doesn’t work and the city must begin to enforce regulations.

BTW, the owners of landmarked buildings get significant tax breaks.