Whitley: Downtown Luxury Apartments

Whitley: Downtown Luxury Apartments

Developers of the Whitley have launched their marketing website for the forthcoming 16-story, 266 unit downtown Austin apartment high rise.  AustinTowers broke the news in July that the apartment building, currently under construction in the Railyard District, would be branded as “Whitley” – a hat tip to the Whitley Paper company that used to occupy the site.

On the new website, we learn the 6th floor will host a mezzanine level pool deck.  The website also reveals certain amenities that suggest the building is targeting luxury apartment renters, by including a “Dog Park with Artificial Grass and Dog Washing Machine”, “Guest Suites Available”, and “Oversized Private Garages Available”.  Make sure the checkout the construction timelapse video.

Whitley Austin - Lobby RenderingThe Whitley’s site plan includes 10,000ft of retail space at the ground level.  CBRE is handling the commercial leasing with retail space being quoted at $36ft NNN.

Completion should be Q2 2013.

The address of the Whitley is officially:
301 Brazos Street (Brazos @ 3rd)
Austin, TX 78701

Whitley Austin Apartments - Pool Deck

Banger’s in Rainey Street District Downtown Austin – MENU, Review, Video, Pics

Banger’s in Rainey Street District Downtown Austin – MENU, Review, Video, Pics

Today was the grand opening of Banger’s Sausage House & Beer Garden in the Rainey Street District of Downtown Austin.  Our office at the The Shore Condos is just a stone’s throw away, so we wanted to support one of the most anticipated venues coming to the ‘hood. We went, had a beer and some grub, and really just enjoyed the perfectly chill vibe, despite the crazy, terrible, make-me-want-to-stab-my-eyes-out heat.

Some will say this is Rainey Street’s answer to  [Read more…]

BY THE NUMBERS: Downtown Austin Highrise Sales

BY THE NUMBERS: Downtown Austin Highrise Sales

In light of the recent Statesman article highlighting new construction sales, I thought this would be a good time to update our trending chart for downtown condos.

Combined sales of new construction and resales of downtown Austin condos delivered a seasonally strong 46 transactions representing $26,720,149 total sales volume in March.

Currently there are 95 resales and 197 new construction condos available for sale in the downtown Austin core.  That’s not many.  Within the past 12 months, we’ve seen 201 resales and 186 new construction sales.

In the chart below, that little red trend line for average resale price per foot gets steeper each month as we see more resales in the top-tier buildings.  By this time next year, you will be able to count the total availability of new construction condos on two hands.

downtown austin real estate prices

March 2012 Resale Statistics

- # of resale transactions = 29
- avg price per foot = $364
- avg sales price to list price (SP/LP) = 97%
- avg days on market (DOM) = 32 days
- Total resales volume =  $12,038,599

March 2012  New Construction Statistics

- # of new construction transactions = 17
- avg price per foot = $554
- Total new construction sales volume =  $14,681,550

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Sutton Company Proposes Towers In Rainey Street District

Sutton Company Proposes Towers In Rainey Street District

The Statesman broke the story publicly yesterday that the Sutton Company intends to build a multi-tower 40+ story mixed-use project at the north end of the Rainey Street District. The assemblage includes 9-10 lots wrapping Rainey Street, Driskill Street, and East Ave. We’ve mocked-up a footprint of the site (below).

Sutton Company Site - Rainey Street

The renderings show two point towers, both over 40 stories, and a third office tower in the background.  As a Downtown/Rainey Street neighbor, I’d love to see this project happen. This is exactly the type of concept envisioned for Rainey back when zoning was changed to CBD.

Sutton Company Development on Rainey Street

This is the second major residential concept proposed for the Rainey Street District within the past couple of months.  The other being the Austin Skyhouse proposed by Andrews Urban/Novare.  If built, a portion of the ad valorem taxes from these projects would contribute to the Waller Creek TIF district.

2012 Downtown Living Tour – Showcasing Downtown Austin

2012 Downtown Living Tour – Showcasing Downtown Austin

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…]