According to a City of Austin release, representatives with the City’s Economic Development and the project development team closed on the GWTP property (aka “Block 1) on January 31st. The development team is Trammell Crow, the Hanover Company, and Pacific Life Insurance.
Block 1 is a pivotal downtown waterfront development. It will improve connectivity with Second Street through to Nueces Street, the new Central Library, and the Seaholm District.
Orientation of Block 1
Summary of what we know about Block 1:
Located at Cesar Chavez and San Antonio Street.
Total project size is approximately 1.7 million square feet of mixed use development.
Block 1 totals 1.776 acres of land
38 floor three-tiered mixed-use tower
expect 440 apartments, including 50 affordable units
40,000 square feet of office and retail space.
The residential component is still being referred to as apartments for rent, and given Hanover’s participation we’ll take that at face value. (Hanover developed the Ashton). We should see site work commence in February with public streets and utility work, including the extension of Second Street.
Back in August we caught a glimpse of what Block 1 tower could look like. According to today’s release, the development team continues to signal it will be a 38 story building with a three-tier design, which is consistent with the rendering and elevations we’ve seen.
If you look at the downtown skyline from the south (78704), you’ll notice there’s a giant gap in the skyline between the AMLI on 2nd to the east and 360 Condos to the west. This project should fill that gap nicely.
More importantly, the walkable connectivity this project brings cannot be understated. It’s literally creating more “grid” and that’s perhaps the greatest upside this project can deliver to city-dwellers.
South and East Elevation Drawings for Block 1 by Solomon Cordwell Buenz (SCB)
I recently helped a couple downsize from a 3,000sf suburban home into a 1,000sf condo. Getting this empty-nester couple to move would not have been possible without storage. They purged a lot, but still ended up using all three of the options below.
Where space is scarce, storage is costly. Prices for storage units have gone up in recent years. A few times each year we see a storage unit come up for sale at the Shore Condos. The last one was ~$7500. Recently, I observed at 360 condos a storage unit trade for $15,000. Storage units at the Austonian will trade for ~$20,000, on average.
Storage units in building
Cost: varies, $2,800 – 20,000 (rent $75 – 200+/month)
Storage closets/units/lockers come in many shapes and sizes. Most high-rise condos do not convey with a storage closet (some do, for example Bridges On The Park and Brazos Place). The ones that do don’t always have enough storage to meet demand. Sometimes it’s just a fenced cage, other times it’s an actual closet with lockable door and electricity.
Unless a storage unit conveyed with the sale of the condo (a buyer can amortize the cost of the storage unit over the term of their mortgage) most transactions for building storage units are handled in cash. The cash-only aftermarket can put storage units out of reach for some owners. As you can see below there is a wide range of pricing.
Recent transactions: (sizes are ballpark based on owner input) *5 Fifty Five – 4′w x 7′d x 7′h = $2,800-4,000.
*Milago = $3,750 *The Shore – 4′w x 7′d x 8′h = $7,500 *360 Condos – 5′w x 7′d x 9′h = $15,000.
I try to avoid renting whenever possible – it’s a sunk cost, and you need to drive to get there. However, when you’re downsizing and about to start moving, you just want an easy place to put stuff. This is where Public Storage is really helpful. Later you can transition into more permanent storage options once settled into your new digs.
USU “Urban Storage Unit”
Cost: fixed, $2000
The USU is sturdy box that sits in front/above your parking space. It maximizes space you are underutilizing. Amber and I have two of these and they are perfect for golf clubs, ski/snowboard equipment, holiday stuff, tools, and generally bulky items we want convenient access to from our door.
We needed to persuade our HOA board to let us install the USU, but now more buildings and HOAs are approving them based on the convenience and value these bring to their residents. You can see USUs in use at the Four Seasons, Spring Condos, W Hotel Residences, and the Shore Condos.
Hopefully, this will help those of you longing for some extra space. If you’ve seen more creative storage solutions, please make sure to share in the comments!
[UPDATED: Though we've not used SpareFoot, we wanted to give them shoutout. SpareFoot is an online self-storage marketplace that allows storage seekers to search by price and area. So, you can price shop storage facilities across Austin. They are based in downtown Austin, too!]
Note: This evening’s itinerary also works for date night!
I like to do a group outing with girlfriends once every week or two, but sometimes we get into a rut – where we are doing the same things, going to the same places, etc. So, for 2014, I’ve made a commitment to try and mix things up a little (nothing too crazy) and try to do something a little different each time we get together. Last night was our first night since the holiday madness, and me and gals decided to hit up the northern edge of Congress near the Capitol – frankly, a seeming no man’s land in the evenings.
Me and some of my lady friends at the beginning of girls night. At The Contemporary.
Christmas is in four days, y’all. If you want to live dangerously – you can try doing your last minute shopping online and cross your fingers that it gets shipped to you in time OR you can go to the mall and get something completely lackluster, but why risk it?
You can pick up unique gifts right here in downtown without biting your nails about when it will arrive. One of the many benefits of shopping local.
But Amber, you say, I don’t have the time to visit a lot of unfamiliar stores, look through all their wares, and make a decision. Never you fear – Amber is here! I’ve done a little of the heavy lifting for you, and below provided you a curated list of some cool shops and some cool stuff they’ve got so you can run in, get a special gift, and run out.
REMEMBER – Check the websites for the store hours! If you are unsure about something, probably also a good idea to call ahead!
My list, of course, is not exhaustive – if you know of a cool downtown / downtown-adjacent shop – feel free to tell us in the comments below!
At ~1,400,000 square feet Waller Park Place, a three tower mixed-use plan is the largest private development ever proposed in downtown Austin (correct me in the comments if I’m wrong). It’s the vision of the Sutton Company, who formally filed their site plan approval application with the City of Austin last week.
Back in September, Downtown Austin Blog first revealed the concept for the 3 acre tract stretching from Cesar Chavez to Davis Street, hugging Waller Creek. Then it was being called Waller Center and seemed really to be just a conceptual vision.
Birds eye view shows planned orientation of three towers along Waller Creek
Below is what we know (note these numbers have gone up since Waller Center was announced in September and could still change)
Tower A – Office, 25+ stories, on the corner of Red River and Cesar Chavez
Tower B – Apartments, 50+ stories, internal on the site
Tower C – Hotel/Condo, 40+ stories, at Red River & Davis
Target FAR is 10:1
The architect is the IBI Group
No phasing is contemplated – all three towers built simultaneously
The site is part of the Waller Creek TIF district
With Block 1 (tbd) anticipated, and Trinity Tower (tbd) being conceptualized, Waller Park Place would be the last opportunity in downtown Austin for waterfront development with protected lake views.
Our own crude drawings showing how the new towers could fit into the skyline
Above and below are a couple of crude massing-drawings I made for each tower to help view the relative dimensions and heights of the three towers, and to help us see how these buildings will fit into the skyline.
Looking south – our own crude drawings showing how the new towers could fit into the skyline
In an update to the story below… Austin City Council elected to postpone adoption of the List of 100 Community Connection Sites until its Dec. 12th meeting saying they wanted to review and tweak the list some more with Google. KUT has more on Council activity here.
Also floating around out there in the Fibersphere is this post from Google Fiber Chief, Mark Strama, that discusses how the construction process is being envisioned as it makes its way around the city starting sometime mid 2014.
And here are those sites neatly MAPPED courtesy of KUT.
After spending only about five minutes reviewing the list, some inexplicable glaring omissions would include:
University of Texas – the 40 acres and other facilities like the Pickle research campus, ATI, IC2, etc.
Austin Community College – all of their campuses and, in particular, the new Highland Center that will be a major central city magnet for the tech and creative industries over the next 5+ years.
Austin Studios – film and production facilities on East 51st St
Hospitals in our emerging health care services growth cluster
…and no doubt much more!
How is this possible? These are all mega bandwidth users and fit the criteria for inclusion in the Community Connectedness program of public service locations intended for free Fiber service. St. Edward’s, Huston-Tillotson, Concordia are all on there – appropriately – but not UT or ACC. Seriously?
Contact Jude Galligan, REALTOR, Broker and publisher of Downtown Austin Blog (aka. "DAB") at 512-236-8898. Jude spends his time matching remarkable people with remarkable properties in Austin’s urban core.
A long time downtown Austin resident and owner of REATX Realty, Jude serves on the Board of the Downtown Austin Alliance (DAA) and the City of Austin Downtown Commission.
Based on information from the Austin Board of REALTORS ® (alternatively, from ACTRIS) for the period through 4/23/14 7:04 AM 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.
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