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Town Market: A New Bodega On Rainey Street

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Town Market has opened below the Legacy apartments on Rainey Street.   It’s a unique space.  Leasing a live/work unit on the ground floor of this downtown Austin apartment tower, Town Market is a two story affair with wine, coffee, sandwiches on the ground floor and dry goods on the second floor.  The Town Market concept comes from the same people who brought you Cissi’s on South Congress.

The store is 50 paces from the Hike and Bike trail, so I expect they will do well during breakfast and the early evening hours.  The Rainey Street District has one of the highest residential concentrations in Austin, and Town Market is a welcome addition to the downtown Austin neighborhood.

Hours: Monday – Saturday 8am-8pm, Sunday 8am-6pm
Google Map: 43 Rainey Street, Austin, TX 78701

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Chase Bank Building SOLD

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[googlemaps http://maps.google.com/maps?f=q&source=embed&hl=en&geocode=&q=700+lavaca&sll=30.270528,-97.744814&sspn=0.01073,0.022724&ie=UTF8&hq=&hnear=700+Lavaca+St,+Austin,+Travis,+Texas+78701&ll=30.282418,-97.740984&spn=0.002798,0.005681&t=h&z=14&layer=c&cbll=30.269655,-97.744846&panoid=Hk1cOT6wpew3AiKB3ylGcA&cbp=12,338.61,,0,-14.72&output=svembed&w=600&h=350]

InFactDaily is reporting that the owners of the old ‘Chase Bank Building’, located in downtown Austin at the corner of Lavaca and 7th Street, have entered into a purchase contract with the Travis County Commissioners Court.  TCCC will purchase the 315,000 ft building for $61.25MM.

In a related story, Chase Tower on 6th Street was recently purchased by Spire Realty Group.

Downtown Austin LEED Buildings

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[youtube=http://www.youtube.com/watch?v=59tABEZTazo]

Established by the U.S. Green Building Council and verified by the Green Building Certification Institute, LEED is the nation’s preeminent program for the design, construction and operation of high performance green buildings.  LEED is shorthand for Leadership in Energy and Environmental Design.

Legacy On The Lake is a downtown Austin apartment building designed by EDI Architecture that has been awarded LEED® Certification.  They are the first residential multi-family building to do so.

How did they do it?  30% reduction of water use, 10% recycled material use, 43% of building materials sourced locally, 77% of construction waste recycled, use of low VOC interior finish materials, and 90% of interior spaces having access to daylight and views.

Several other items contributed to their LEED rating including:  electric vehicle charging stations, bicycle storage and changing rooms, and water efficient landscaping.  According to EDI, “Legacy on the Lake achieved LEED Certification despite having a tight construction budget.  Total upcharge to achieve certification was about 1 percent of the total construction hard costs.”

The LEED 2009 rating system is based on 100 possible base points plus an additional 6 points for Innovation in Design and 4 points for Regional Priority. There are four categories of rating:

* Certified – 40-49 points
* Silver – 50-59 points
* Gold – 60-79 points
* Platinum – 80 points and above

Other downtown buildings that have achieved a LEED rating:
1) Whole Foods (LEED Certified)
2) Austin City Hall (LEED Gold)

Of note, Gables Park Plaza is a candidate for LEED certification, the Austin W Hotel and Residences (aka. Block 21 Residences) is expected to be LEED Silver Austin’s first LEED Platinum building.  Also, the under-construction Federal Courthouse is being built to achieve a LEED Silver rating.

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The Shore Condos Closeout

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Perhaps in light of the upcoming Sabine auction, The Shore Condos is aggressively working to closeout their sales program.  We just received a note from sales office: eight units remain and discounts range from 10-25% off of original asking prices.  A large 1bd + study on the 18th floor can be purchased for $243,750.   This same unit would have been offered at $325,000 in late 2008.

A pdf of the remaining units and pricing can be downloaded here.

DAB readers will recall that 2009 was a great year for the Shore, as they quietly discounted and sold nearly 75 units over this past summer.  In fact, in November, we closed on our new space at the Shore [we’ve leased our beloved 1bd at the Sabine].  The construction quality is outstanding, and the proximity to Rainey Street and the trail cannot be beat.