Jude Galligan

Lease Restrictions: A Noble Idea That Can Backfire On Owners

Jude Galligan | October 14, 2011 |

Lease restrictions are typically birthed with noble intent – to foster owner-occupancy and ensure that buyers can get loans for properties within the community.

When new lease restrictions are forcibly applied to limit rental activity in buildings and neighborhoods, it is a taking of property rights which can set off litigation from disgruntled owners.

This issue has impacted me as a property owner, and I’m familiar with the emotions and frustrations felt by advocates and antagonists to lease restrictions. A recent situation with a buyer was frustrating enough that I want to share my experience (which is not unique) about how lease restrictions can adversely impact current owners, sellers, and buyers.

Lease restrictions will do two things, guaranteed:

1) limit the number of renters in a community
2) limit the number of buyers for properties within a community

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

Jude Galligan | September 27, 2011 |

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

Jude Galligan | September 23, 2011 |

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.