The focus is on inclusion. That’s what Nicole Harmon of Core Health Foundation, a non-profit spin-off of Core Health (a for-profit facility focusing on rehabilitation of those suffering with brain injuries), tells me. The project is a fishing pier, located on the northern shore of Lady Bird Lake, just south of the Holiday Inn off I-35 in the Rainey Street District. The project has been in the works for over 8-years, but was officially approved in 2010, and construction is expected to be complete in 2013. And while the driver and primary purpose of this project is for [Read more…] about Fishing Pier Coming to Lady Bird Lake in Rainey Street, Downtown Austin
Real Estate
BY THE NUMBERS: Downtown Austin Highrise Sales
In light of the recent Statesman article highlighting new construction sales, I thought this would be a good time to update our trending chart for downtown condos.
Combined sales of new construction and resales of downtown Austin condos delivered a seasonally strong 46 transactions representing $26,720,149 total sales volume in March.
Currently there are 95 resales and 197 new construction condos available for sale in the downtown Austin core. That’s not many. Within the past 12 months, we’ve seen 201 resales and 186 new construction sales.
In the chart below, that little red trend line for average resale price per foot gets steeper each month as we see more resales in the top-tier buildings. By this time next year, you will be able to count the total availability of new construction condos on two hands.
March 2012 Resale Statistics
- # of resale transactions = 29 - avg price per foot = $364 - avg sales price to list price (SP/LP) = 97% - avg days on market (DOM) = 32 days - Total resales volume = $12,038,599
March 2012 New Construction Statistics
- # of new construction transactions = 17 - avg price per foot = $554 - Total new construction sales volume = $14,681,550
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Sutton Company Proposes Towers In Rainey Street District
The Statesman broke the story publicly yesterday that the Sutton Company intends to build a multi-tower 40+ story mixed-use project at the north end of the Rainey Street District. The assemblage includes 9-10 lots wrapping Rainey Street, Driskill Street, and East Ave. We’ve mocked-up a footprint of the site (below).
The renderings show two point towers, both over 40 stories, and a third office tower in the background. As a Downtown/Rainey Street neighbor, I’d love to see this project happen. This is exactly the type of concept envisioned for Rainey back when zoning was changed to CBD.
This is the second major residential concept proposed for the Rainey Street District within the past couple of months. The other being the Austin Skyhouse proposed by Andrews Urban/Novare. If built, a portion of the ad valorem taxes from these projects would contribute to the Waller Creek TIF district.
2012 Downtown Living Tour – Showcasing Downtown Austin
Next Sunday, April 22, 2012, from 11am-5pm, is the 2012 Downtown Living Tour. The Tour is a showcase of homes located in Downtown Austin, and is put on by the Downtown Austin Neighborhood Association (it’s DANA’s only fundraiser, and helps keep the organization chugging throughout the rest of the year). A portion of proceeds this year will also go to The Health Alliance for Austin Musicians (HAAM).
The 2012 Downtown Living Tour has [Read more…] about 2012 Downtown Living Tour – Showcasing Downtown Austin
Virtual Flyover Of The 3rd & Brazos Apartment High Rise
Not much info has been released about the design of Riverside Resources’ 20 16-story apartment building under construction at 3rd & Brazos (in the newly monikered Railyard District).
The video below is a virtual flyover of the building, and provides more insight into the design. (update: the video settings have been changed to private)
[Read more…] about Virtual Flyover Of The 3rd & Brazos Apartment High Rise