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Archives for November 2009

Qua Dance Club Now Admits Toddlers

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Well, at least on the first Saturday of every month from 1pm – 4pm…..

Qua No Longer Just for the Butabi Brothers

I read this article in the Statesman over the holiday weekend, and I must admit, I was a little intrigued.  Apparently, a group of parents (The Little Lounge Lizards) have organized a monthly family-friendly dance party at downtown Austin dance club Qua (213 West Fourth) on the first Saturday of every month (skipping January 2010) from 1pm to 4pm.

I tend to applaud the daytime use element, and, although I’m not sure I had daytime clubbing for little ones in mind, the Statesman article makes it appear to be harmless enough and to be something that seems engaging….

Qua is probably best known as the dance club at the center of quite a bit of controversy (since 2007) about the shark “exhibit” that doubles as its dance floor, a controversy that has sparked PETA‘s interest and has also unified many Austinites against the club’s use/treatment of marine life.

Per their website, Qua offers daytime student field-trips to the shark tank, in addition to The Lounge Lizards’ dance parties.  It seems like, for whatever reason (the pursuit of profit, most likely), the club is trying to extend its money-making hours and demographic reach by incorporating daytime/family-friendly uses.

The Statesman article says that The Little Lounge Lizards group is negotiating with Qua to extend the monthly parties in 2010, however, negotiations aren’t finalized and the venue may soon change.  The next dance party will be December 5th from 1 pm – 4pm.

Source: “Kids – and parents too – can get their disco on”

Will The MACC Build A Tower In The Rainey Street District?

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It’s called Nahua Tower, and it’s a mixed-use tower design by Bercy Chen Studio.  “Bold” is an appropriate adjective to describe this design. Perhaps this is simply a conceptual exercise. But, if this or something like it were to ever get built, I believe it could be a showpiece for the city. Click the image and you’ll be taken to the Bercy Chen website where you can watch video of virtual ‘fly overs’ of the rendered building.

Nahua Tower Design By Bercy Chen Studio, Background Rendering by Mopacs @ SkyscraperPage

The Nahua Tower is being designed in collaboration with the Mexican American Cultural Center (MACC) in Austin Texas. The tower will be built as an annex to the existing cultural center and provide an extension to the MACC’s existing facilities as well as residential condominiums. The base of the tower contains event, retail, and restaurant spaces, while the upper 28 floors are primarily residential condominiums.

The project takes inspiration from pre-colombian pyramidal architecture and incorporates these vernacular precedents into a modern tower using many traditional materials such as copper, onyx, and pit-house style bermed construction.

Thanks to KevinFromTexas for the heads up – the Nahua Tower concept/vision has been on the books for a while now.

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11 Reasons I'm Thankful to Live in Downtown Austin

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I’m thankful for many things in my life.  I have a wonderful family, great friends, and I am in good health.  But this blog is about living in Downtown Austin, so I’m not going to bore you with all that mushy stuff; I’m going to talk about Downtown Austin and my top eleven (everybody does top 10, which is soooo Letterman, if you ask me) reasons I’m thankful for living here as opposed to other places.

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The Driskill Hotel, 604 Brazos St

11.  I am thankful for our historic buildings, which give our city character and roots.

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Photo courtesy of Ken Cobb

10. I am thankful for people watching and the fact that downtown Austin is a place where people want to be.

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My Yard Before I Moved Downtown. Just Kidding.

9. I am thankful for the lack of yard work, because I suck at it and I hate it.

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8. I am thankful for the feeling of neighborhood and comradery. Downtown Austin has a small town atmosphere, where people know each other. I run into several people I know throughout the course of my day, and it’s always a pick-me-up to share a wave or have a quick chat with a neighbor.

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7. I am thankful for cool boutiques, where I can buy things like glow-in-the-dark jellyfish.

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6. I am thankful for the availability of unique living spaces with high ceilings and huge windows.

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5. I am thankful for relative carless convenience.

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4. I am thankful for The Ritz, and being able to order a vodka tonic while doing a Michael Jackson sing-a-long with 10 of my closest girlfriends.

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3. I am thankful for Town Lake/Ladybird Lake.

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2. I am thankful for a reserved parking spot, which means I don’t have to find (or pay for) parking during South by Southwest.

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1.  I am thankful for the nearby concentration and variety of services like restaurants, theaters, art galleries, coffee houses, bakeries, neighborhood stores, the library, and art museums. (To search a neighborhood directory click here.)

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Happy Turkey Day, everybody!

The December Discount

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I’m sympathetic with contrarian investing practices.  You’ve likely heard that, in the real estate market, spring and summer are the “buying” seasons.  If that’s true, then there is an economic case for improving your purchasing power during the non-buying seasons.

Taking a two mile radius from downtown Austin, we show the average-discount-from-list-price ratio of sale price to list price (subtract from 1 to get the discount) for real estate sold in June and December. The data is obtained from the MLS and goes back to 2004.  On average, since 2005, you can buy central Austin property for less in December than you can in June.  Last year if you purchased in December then you saved an additional 3% from asking price.

I call it the “December Discount”.

This chart affirms, at least in part, that in recent years buyers purchasing in the “off season” are getting slightly better deals than buyers in spring and summer.  Since 2005 you can see the December Discount increasing with each year.  With the FHA loans currently filling a void in the credit markets, and a tax incentive bringing more buyers to the table, this year we might not see a continued divergence beyond 3%.

Downtown Austin Open Houses

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(Looking for this week’s open houses? You’ll find them here.)

downtown-austin-open-house

Open houses in downtown Austin for Sunday, November 22nd

The great thing about downtown Austin open houses is that you can generally walk from building to building. Take a stroll downtown now that summer is over and the temperature is cooler. If you’re into adaptive reuses of older buildings, checkout DAB’s list of downtown Austin lofts. Looking for FHA approved condos? We’ve got the info here.

This weekend you can browse at your own pace at the Milago (btw, have you visited Rainey Street recently?), Spring, and the Austonian sales center.  While you’re here, checkout DAB’s gift suggestions found on 2nd Street.

Sunday
1) 54 Rainey St #1014, 2bd, 2ba, $469,000, 1-4pm [Housepad] map
2) 300 Bowie St, Spring sales center, model units, 1-5pm map website
3) 200 Congress Ave, Austonian sales center located at 300 W 6th, 12-5pm map website

Don’t see the properties you’re interested in? Ask a Realtor who lives and works in downtown Austin.

Downtown Austin Condos Dwindling: Video

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We don’t watch much TV, so we missed this KXAN piece highlighting the potential shortage of new downtown Austin condos.  The report claims 408.  Downtown Austin Blog’s count is 475.  I deal in downtown condos everyday, and this report is a little misleading.  Reports like this ignore the approximately 175 downtown resales currently available for sale.  Still, it’s very encouraging to receive some positive press reflecting the vibrancy of downtown.

Thanks to the Jdawgboy at SkyscraperPage forums for the heads up!

-Jude

The State Theatre

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Next to the Paramount Theatre on Congress Ave sits another theatre.  The State Theatre is managed by a non-profit, Austin Theatre Alliance, which also manages the Paramount.  In recent years, you couldn’t be blamed for completely missing the theatre from the street-scape vantage point, though countless photos and postcards highlight the giant “State” neon monument.  In 2006 a broken water main ravaged the State Theatre.  At the time, its next door neighbor, 721 Congress Ave was under development by Sinclair Black (who was also the designer of the theatre’s renovation in 1994-1995).  The two buildings share a basement, and logic dictated that the State Theatre allow 721 Congress to get further along in its development plans.

Cut to November 2009 and 721 Congress Ave is still a shell of a building with little prospect for achieving Sinclair’s vision anytime within the next five years.  What will happen with the State Theatre?  We don’t know.  The State Theatre has not reopened for performances, though its acting school never closed.  There’s been no updates published about their renovations or plans going forward.  Just as the Ritz Theatre on 6th Street (another mid-century movie house) has been given a new life with its tenant the Alamo Drafthouse, we hope the State Theatre’s best days are yet to come.

Suzanne Davis Gandy: Artist Reception Tonight

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Friend of Downtown Austin Blog, Suzanne Davis Gandy, will have a reception tonight at Art Exchange Gallery on 5th Street, below 5th Street Commons. Original oil landscapses by this Austin artist are included in the gallery’s collection.  Art Exchange Gallery opened in early October, 2009, with owner, Hardy Woodall, bringing a captivating collection of original works by international, national and local artists.  The event is free and open to the public.

Art Exchange Gallery: Artist Reception for Suzanne Davis Gandy
Location: Art Exchange Gallery
1611 W. 5th St.
Time: 6:30 – 9:00 p.m.
Free, covered parking is located behind the building.

904 West Update

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Below is an update from Noa Levy and 904 West Ave condos. I was able to preview this rehab last month and left impressed with the quality and design. Calling it a rehab doesn’t paint the full picture, as nearly everything is new – the studs, flooring, plumbing, electrical, all new.  You can find pricing and floor plans on their website 904west.com, and I’ve prepared a spreadsheet of their pricing which you can download here.  To update our previous coverage of 904 West pricing, asking prices begin in the $160s, and including the outdoor living space, prices average ~$329/ft.

First and foremost our contracts ready. The first phase of the project which includes 5 Residences, 3 live-works and 1 commercial space will be available to be occupied by January 1, 2010. We are offering private tours at this time and have finish boards and upgrade spec sheets in our office. 2% earnest money is required to go into contract.

We have secured 2 preferred lenders, SWBC Mortgage and Colonial National Mortgage, and we are happy to help you pre-qualify any interested parties.

To give you a quick recap about 904 West, the project is a mixed-use/multi-family style development with 33 units comprised of 2 commercial spaces, 9 live/work spaces, 13 residences, and 9 urban bungalows starting in the $160K’s. 904 West is a high-rise alternative with many green features including the first in downtown Austin to offer a photovoltaic solar energy system that will decrease resident’s energy bills. Moreover, residents can monitor their usage online and adjust accordingly. Other green features include LED lighting throughout the building, Energy Star rated Bosch stainless appliances, energy efficient heating and cooling equipment, and many green building materials.

The building will include a secured lobby, secured garage, semi-covered central atrium with meeting spaces, elevator, and private swimming pool. The property is adjacent to Duncan Park and walking distance to Whole Foods, Shoal Creek hike and bike trail, and all the shops, eateries, and entertainment downtown Austin has to offer. In addition, it is very close to major employers, the State Capitol, Courthouse for those who are seeking work opportunities or office space downtown.