Jude Galligan

904 West Ave Details Emerging

Jude Galligan | July 16, 2009 |

Yesterday, I received more details about the downtown Austin apartment-to-condo conversion at 904 West Ave. They managed to squeeze 33 units into their plan: 31 one-bedrooms and two commercial spaces. The units begin at 429sf and increase in size to [a sprawling] 744sf. The target average price is close to $360/ft and an average unit cost of $220,000 +/-. Here is an example of a floor plan.

I’m skeptical about these prices. Buyers have other less expensive options in central Austin neighborhoods. For instance, at 2020 condos on South Congress, a similar apartment-to-condo conversion originally constructed in the 1960s, units can be had for $99,000. Though quality issues have been rumored at 2020 Congress.

To be fair, the rendering indicates 904 West Ave is aiming high in terms of design and I haven’t seen any details on the finish outs. I’m looking forward to seeing more from 904 West Ave.

-Jude

904 West Ave

Jude Galligan | July 15, 2009 |

Not much is being released about the 904 West Ave apartment-to-condo conversion. The two-story complex originally constructed in the 1960’s should yield 22 units +/- depending on floor plans. The sign indicates the units will start at $160k and will be ready by the fall. From the street it appears they are still in the demolition phase of construction. No floor plans nor pricing have been released (I’ve inquired).

Located in the “Original Austin Neighborhood”, 904 West Ave part of a great downtown Austin neighborhood – equidistant to West 6th as are the 360 condos, Duncan Park is around the corner, and I would enjoy walking to Emerald City Press each morning.

Before he earned the position of Austin City Councilmember, Chris Riley had prepared an interactive map of OAN that includes the history of some great properties – very cool!

904 West Ave has a splash page, but not many details currently.

-Jude

The Castle On The Hill

Jude Galligan | July 14, 2009 |

Have you driven down Baylor Street? It’s a curious place. There is a vacated street between 9th and 10th. There is a strange concrete structure that resembles something out of Blade Runner. Above this curiosity sits a castle which is part of the “Nice Turret No Moat” subdivision which was established in 1885. I did some digging around and this is what I found.

1008 Baylor
This is the 1.2 acre site of an unfinished mixed-use project. Owned by Rooknoll LLC which is managed by Victor Ayad and local developer/architect Dick Clark. This unfinished foundation work dates back to a 1980s condo project. In 2007, Austin City council approved the upzoning of the the lot on Baylor to accommodate a small mixed-use development. But it’s doubtful anything will be done with it soon.

1008 Baylor St - notice the castle in the background

1111 W 11th “The Castle”
Also owned by Rooknoll, LLC, this is the former Texas Military Institute castle. In fact, this property is likely the root of the neighborhood named “Castle Hill”. For decades it has been used on and off as a residence or office. The view of downtown is spectacular. It appears occupied right now, but as recently as a couple of years ago it made for interesting an subject for local urban explorers. The structure is the oldest existing college building in Texas.

There is much more history to both of these properties, so please feel free to share what you know. The zoning map below shows that many of the properties on Baylor are zoned for small multifamily use, but I haven’t found much information on the raison d’etre for the vacated street.

-Jude

sources:
-traviscad.org
-http://www.bravahouse.com/neighborhood.html
-flickr for “texas military institute”
-http://www.cityofaustin.org/edims/document.cfm?id=112057
-http://www.dupontcastle.com/castles/tmi.htm (this is a very fun site!)
-http://www.tshaonline.org/handbook/online/articles/TT/kbt17.html

The Screaming Goat Makes A Great Breakfast Taco

Jude Galligan | July 13, 2009 |

Screaming Goat serves up tacos and historical charm on W 10th

At the edge of downtown, located at 900 w 10th and wedged between Shoal Creek and a used car dealership, sits the home of Austin’s best breakfast tacos – The Screaming Goat. I’ve driven past the house, built in 1935, dozens of times. One morning last week I made a point to check this place out.

There is plenty of parking on the street or around back. When you walk in you are greeted to another example of Austin’s terrific adaptive reuse house-to-restaurant conversions.

You order from the counter. I had my usual – 2 x breakfast tacos (bacon and egg, b/c I keeps it real). Three minutes later the tacos were delivered to my table. The quality of the food is very fresh and made to order.

On my way out I noticed this tub of cold beers, which leads me to my only complaint and that is there is no outdoor seating to enjoy them.

Screaming Goat opens at 7:30 most mornings

The Bel Air Condos Auction

Jude Galligan | July 10, 2009 |

Many units have a full floor roof top terrace

OK, non-downtown Austin related news here. The Bel Air condos are located deep in South Austin, but I’m confident many DAB readers will appreciate knowing about this before it hits the PR wires.

Kennedy Wilson’s website indicates that the Bel Air condos in South Austin will be going to auction on August 9th. Kennedy Wilson is the same group that auctioned Brazos Place. Located on South Congress, past Ben White, and not far from Hills Cafe, the Bel Air is a unique product in a unique location. Although not downtown, the Bel Air condos have always appealed to me: they’re designed to commercial specs, they’re raw, industrial, and highly functional spaces. Some units have full floor roof top terraces.

Bidding begins at $90k. As we all know by now, this is a ruse. It’s doubtful this auction will generate the buzz and turnout we observed at the Brazos Place auction. My prediction is the condos will sell for an average 30-40% discount from original asking price, or at least more than what we would see in the downtown CBD. We’ll just have to wait and see. Unlike foreclosure auctions which require cash on the spot, private auctions are more buyer friendly as buyers can have up to 30 days to close if they are pre-approved for a mortgage.

Bel Air features:
• Rooftop decks
• Private direct access garages
• Private balconies
• Commercial grade construction: steel and concrete
• Green Building Features
• Loft design: Concrete floors, high ceilings, exposed ductwork
• Tankless water heaters
• Energy efficient appliances

For my investor clients, here is a link to the Bel Air condos auction brochure and registration form. (pdf, 6MB)

Preview by appointment Showing hours 11-6pm everyday, and there are several photos of Bel Air available on Flickr.
—
Jude Galligan, Realtor
512-226-3414