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Archives for September 2011

Austin’s Old Bakery: What Is Highest & Best Use?

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In 1976, the City of Austin utilized federal Older American Act funds to establish a multifaceted gift shop selling handicrafts and original art by local artists 50 or better.

That was the mission for the Old Bakery & Emporium, located at 1006 Congress Ave.

I’m as surprised as you that this concept didn’t take off and IPO within a few years.

Alas, charming as it is, the Old Bakery has not generated much buzz to date, and stakeholders are looking for new ideas.  [Read more…] about Austin’s Old Bakery: What Is Highest & Best Use?

Urban Wine + Liquor Takes Last Retail Space At The Austonian

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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.

Whitley Paper Is Coming Down

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Thanks to a reader tip,  we’ve learned that demolition of the former Whitley Paper warehouse is more than just speculation.

Demolition of the half-block site will begin Monday, September 26th according to a notice distributed to neighbors.

This will be the first visible steps towards Riverside Resources building their apartment tower at 3rd & San Jacinto.   [Read more…] about Whitley Paper Is Coming Down

CAMPO and YOU!

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Everybody knows CAMPO as the sexiest metropolitan planning organization.  And, it wants to talk with you… to learn about you… to discover what you want.  What are your hopes?  Dreams?

You’ve been dreaming about $836,000,000 in project applications, but CAMPO only has $132,000,000 of federal and state funds to spend on you.

How to decide!?

You call your best friends, looking to them for support because you can’t have everything.  They help you by completing this survey.  They join you for cocktails when CAMPO hosts a community meeting Sept. 21 at One Texas Center, 505 Barton Springs Road, from 6:30–8 p.m., to discuss the various projects, and a public hearing Sept. 26 at Joe C. Thompson Center on The University of Texas campus at 6 p.m.

You’re so predictable: you’re attracted to simple projects that you can grow with.

1) Construction of a Sabine Street promenade that will involve the development of sidewalks, bike lanes and pedestrian amenities between Fourth and Seventh streets ($3.4 million).

2) First phase of bike share system ($2.0 million).

**SRSLY, this is important!  Complete the survey and make sure to indicate you wish to support the above two projects, amongst others.

Crossing The Chasm: A Perspective On New Construction

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Because I’m a real estate geek, I’m continuously looking at sales metrics, updating my databases, and endeavoring to uncover useful information.  In this post, I’m attempting two things: 1) offer some perspective on sales in downtown Austin’s high profile buildings, and 2) predict when those buildings will approach being completely sold.  If you just want the data then skip to the end.

One of my mentors shared with me an insight: the first buyers are innovators – early adopters that fill up the bandwagon and help throttle the acceptance of something new.  It applies to new real estate development, as much as it does to new technologies.

Now that the cranes are long gone, where are the new construction projects in their sales cycles? [Read more…] about Crossing The Chasm: A Perspective On New Construction