downtown Austin's real estate and neighborhood blog
Great quote via the Overhead Wire…
“Rail transit drives walkable urban places. I’ve never seen one dollar of real estate investment invested because of a bus stop. But if you have [rail] transit, it’s a different story altogether.” – Chris Leinberger
Permanence yields investment. Bus stops come and go. I would take it a step further and suggest that in several cases the presence of a bus stop could actually inhibit real estate investment.
I met David Buttross for the first time this past Saturday at the Urban is Core candidate forum. At the dais, David’s responses were refreshingly crisp and practical. Now, those won’t win him an Austin mayoral election, but the benefit of ‘underdog’ candidates, especially those who are as successful as David is, is to reality check the front running candidates.
For example, an issue that local politicians love to pander to but can’t quite solve is affordable housing. Realizing the difficult reality of placing affordable housing where land is expensive, David’s message is clear:
You can’t have affordable housing:
1) Without density to increase housing stock
2) Without mass transit to connect people
I’ve always been frustrated by local politicians that call for more affordable housing and simultaneously denigrate density in their own neighborhood. I’ve always held that you can achieve affordable housing by fixing onerous SF-3/McMansion zoning, mitigating NIMBY-ism by spreading affordable housing everywhere, then organically grow mass-transit to connect people to where they want to go.
-Jude
The Austinist has published Councilmember Mike Martinez’s and candidate Bill Spelman’s written responses to 22 questions in preparation for the Urban Is Core Super Forum this Saturday.
Generally, I find their responses encouraging. Progressive on land use and transportation issues. Realistic on social service issues.
Bill Spelman responds
Mike Martinez responds
UPDATE: complete list of responses below
Mayor:
McCracken: response
Leffingwell: response
Ingalls: response
Buttross: response
Strayhorn: No response
Place 1:
Riley: response
Cavazos: response
Place 2:
Martinez: response
Quintero: No response
Place 5:
Spellman: response
This is everywhere today, so I won’t rehash the details, but according to KXAN, $116MM of stimulus funds are going to build what we’ve been hoping would just go away – the Federal Courthouse. Eek! The design of the proposed federal courthouse is postmodern brutalism. Previous discussion over at Austin Contrarian.
-Jude
According to the ABJ, Austin City Council has voted against one-time development permit extensions which would extend the time frame real estate developers had to commence with their project from three to five years. Sponsored by the newest Council Members on the dais, Randi Shade and Laura Morrison were not around in 2006-2007 to vote on urban infill projects.
Development permits will likely expire before any rebound in the capital markets. If the land where the development was to occur has already been razed (Marriott), then the outcome of this ruling is most likely blight – empty lots, not generating property taxes, and often surrounded by chain link fence.
A far better solution would have been to levy fines or taxes on undeveloped land. Because, you know, that could have generated money for the city!