development

Four Seasons update from developer

Jude Galligan | February 19, 2009 |

Just received this update from the Four Seasons Residences. It pretty much confirms what I’ve been saying about the strength of the downtown Austin condo market – the sky is not falling.

“As we enter 2009, Four Seasons Residences Austin is nearly 50% sold. Understandably, the last quarter of 2008 was slow, but sales activity in 2009 has picked up considerably. In the last week we signed a new contract for a 2,700 square foot residence and have a number of additional contracts in process.”
…
“Figures for the condominium market in downtown Austin are very encouraging. Of the 800 units delivered in 2008, over 90% have already closed. Furthermore, several planned projects have been put on indefinite hold due to a lack of financing which will reduce the amount of future supply for years to come.”

Day three, becoming a model urban neighborhood: what does Downtown Austin need?

Jude Galligan | February 17, 2009 |

Each day this week I am serving up one item, with non-politically correct candor, that Downtown Austin needs to become a model of re-urbanization, as I see it.

Politicians love to talk, form task forces, and spend time doing everything except for making decisions as they are needed. So, this is an appeal to Downtown Austin stakeholders that know how to get things done: the residents, developers, retailers, and land owners.

I want more local grocery stores like Royal Blue or Fresh Plus

Developers, do you want a successful building? Then just give George Scariano space with free rent. I’m only partially kidding. This is a huge amenity. Not just developers, but the hotels and convention center should be lobbying for this type of retail. Fancy finish-out not required. A successful Downtown neighborhood has multiple choices for purchase groceries on a daily basis. The only thing that bugs me about Royal Blue is that both locations are on the wrong side of Congress for me to quickly get there.

Tim Finley has a place available at E. 5th @ Trinity – the large warehouse where Paradox used to be located. Think of the convention and hotel traffic in addition to the residential business from 555, Brazos Lofts, Avenue Lofts, Sabine, and Railyard. These are all located within a couple of blocks of 5th @ Trinity and combined include over 368 units not counting the Four Seasons!

360 condos: three units remain

Jude Galligan | February 16, 2009 |

Just received this. $50k off remaining two bedrooms.

-Jude

Day two, becoming a model urban neighborhood: what does Downtown Austin need?

Jude Galligan | February 16, 2009 |

Each day this week I am serving up one item, with non-politically correct candor, that Downtown Austin needs to become a model of re-urbanization, as I see it.

I want a hardware store on Congress Ave.

Breed & Co is a hugely successful hardware store operating near UT. A pedestrian neighborhood needs a proper hardware store. Sometimes you just need some screws, spackle, or paint. Currently, I need to get in my car and drive to Home Depot. A better solution is to provide the existing 3,954 households with a local hardware store.

recognizing the importance of an urban hardward store

Becoming a model urban neighborhood: what does Downtown Austin need?

Jude Galligan | February 15, 2009 |

Each day this week I am serving up one item, with non-politically correct candor, that Downtown Austin needs to become a model of re-urbanization, as I see it.

I want a Super Target on Congress Ave.

Yes, it’s known as a big box store and is identified with sprawl. It doesn’t need to be that way! Retailers like H-E-B and WalMart are sophisticated enough to design stores that work as urban infill or adaptive reuse projects. A large destination store that has groceries and products that people need [and can afford] on a regular basis would be amazingly successful.

Remember that rendering produced by Stratus for the Seaholm redevelopment which depicted a multi-story H-E-B? That was inspired.

Downtown Austin landlords with retail space should begin to focus less on luxury goods and more on “liveability” goods. I don’t want to see more boutiques. I don’t want to see more salons. I don’t want to see more bars/lounges. These are all fine, except they serve a very limited audience. The next wave of successful retail in Downtown Austin will be for products that people need and can afford to purchase.