Travis County will purchase a tract of downtown Austin land owned by the Austin Museum of Art for $21.75MM, according to InFactDaily. Located directly south of Republic Square Park, it is certainly a choice piece of dirt. Currently a surface level parking lot, this land has everything going for it, most importantly it is not subject to a Capitol View Corridor. [Read more…] about Choice Downtown Austin Block Purchased For $21.75MM
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Tipping Points & Lawsuits
After months of complaints, Enzo night club is being sued by the Monarch apartments. This is not surprising, but the suit could be unfounded if Enzo has been operating in compliance with existing laws. According the article, city police and fire officials believe they have been. Behind the scenes, various advocacy groups are discussing the bigger question: are existing compatibility laws failing a mixed-use downtown?
Outside of the established entertainment districts of E 6th Street and the Warehouse District, there’s unrest brewing between downtown residents and night clubs. These two groups evolved in the same playground over the past decade. Now, both seem uncertain about the rules and who’s playing by them.
Can’t we all just get along?
One of my favorite books is Freakonomics – a book that challenges our core economic motivations. I’m a perfect example of irrationality. I am a downtown property owner. I believe that scarcity creates value. Using purely economic instinct, I should support the anti-height and anti-density sentiment we’re used to seeing from ANC, since the expected result would be less real estate for my properties to compete with. However, I have qualitative interests that go beyond simple economics. So, I do support height and density initiatives designed to create more housing in downtown.
In similar fashion, a club owner might want to limit the creation of new bars in downtown Austin in order to preserve their existing fiefdoms. Why desire more competition, right? I know many bar owners, but I’ve never once heard them say “there’s too many bars”. It makes sense, as they don’t want to be blocked from opening future concepts/locations.
There’s also the argument for economies of agglomeration, which helps to explain why destination entertainment districts thrive.
Responding to exogenous forces
Remember when the City of Austin banned smoking inside bars? If you do, you might recall the uproar from bar owners suggesting that would kill their business. In the long run, bars adapted. The response was to take business outdoors to rooftop decks and open air lounges. This phenomenon paralleled the residential boom in downtown, and created new Outdoor Music Venue challenges for lawmakers (to be discussed in another article). Look around. Now, there are more bars than ever in downtown Austin.
Another reason for the surge of bar development: parking. CBD bars don’t need onsite or adjacent parking. By requirement of the law and/or lender, onsite parking isn’t as important to a bar’s success than it is for retail and restaurant uses. So, it’s no surprise we’re see more bars. They’re simply easier to build, finish out, and operate. CBD zoning enables this.
Still tippin’
According to the Texas Bar Nightclub Alliance (TBNA) there are more alcohol retailers in downtown Austin’s 78701 zipcode than any other zip code in the United States!
I went to the TABC and pulled all of the permits in 78701, and found approximately 290 permits.
Big whoop, Jude. What’s your point?
At what point are there so many night clubs that they collectively begin to erode the quality-of-life for residents and visitors of downtown? I think the answer has to do with compatibility, more than raw numbers.
Have you seen the vision for Congress Ave? It’s mixed-use. These pics from the holiday stroll should help you visualize it. Downtown Austin is more than just bar-centric nightlife. Night clubs outside of the established entertainment districts (E 6th & Warehouse) need to play nice with their neighbors. And residents need to support the ones that do!
I support the Downtown Austin Plan’s recommendation for conditional use permits for new downtown Austin night clubs outside the entertainment districts. It’s a softball pitch for stakeholders to foul out the bad players.
Jude, stop being lame.
Meh, get off my proverbial lawn. Few new night clubs add to our city’s brand and goodwill. IMO, we’re at the tipping point of problematic “bar creep” outside of the entertainment districts and into areas envisioned for more mixed-use.
Maybe I’m growing up, and through the course of business I see more families in downtown Austin than ever before. I see, in aggregate, the billions of dollars homeowners have invested in their downtown residences.
Unlike E. 6th Street (aka. “dirty 6th”), W. 6th Street was not a major destination until there were 1,500+ high rise doors and $500,000,000 in residential multi-family/condo property tax base surrounded it. Rainey Street wasn’t a destination until 1,000+ high rise doors and $250,000,000 in residential multi-family/condo property tax base surrounded it.
Entertainment “districts” are a piece of the Downtown Austin CBD pie. Not the whole pie.
-Jude
Lavaca St Bar Gives Away Free Tubs Of Bacon On Thursdays
Downtown Austin Condo Prices Drop in November
Judging by the average numbers, November was a rough month for resales of downtown Austin condos. Conversely, luxury condos continue to post strong numbers for the second month in a row. Back in October, I was surprised by the large number of closings we observed in the downtown Austin’s top-tier condo buildings. The ABJ followed up with a story saying “Verdict’s in: Austin condos did work.”
Top-tier (new buildings)
While the high-end market continues to show good numbers, it’s not clear to me how many of these closings are from original reservations, rather than new purchase contracts (within the past 120 days).
-Four Seasons shows 49 closed units, six closed in November.
–Austonian shows 32 closed units, two closed in November.
-Spring shows ~165-170 closed units closed, nine closed in November. It should be noted that these were, in fact, all new contracts.
Resales
Using data available on Nov 30th, 11 downtown austin condos closed at an average $252 per square foot. That’s the lowest average price since August of 2009, and is 19.5% lower than the average resale price compared to November of last year. Compared to downtown condo sales in October, prices were down 14%. Also interesting, average days-on-market (DOM) was 118 days – not surprising to see closing prices averaging 12% less than original asking prices.
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DON’T MISS IT!!! Capitol Tree Lighting, Holiday Sing-Along & Congress Ave Stroll: SAT 12/4 @ 6PM
UPDATE: This is last year’s post. This year’s Holiday Stroll is on Saturday the 3rd!
Once again, KUT and the Downtown Austin Alliance will bring you the annual “Holiday Sing-Along and Downtown Stroll.” It’s now become an annual tradition. Last year an estimated 8,000 people attended. This year, with the beautiful weather expected Saturday evening, maybe 10,000 or more?
It’s all happening Saturday, Dec. 4th. KUT’s John Aielli will be on the south steps of the Capitol building leading Christmas carols beginning at 6PM. That is immediately followed by the lighting of the Capitol Tree on 11th Street, at the head of lower Congress Ave.
Then everyone takes a leisurely stroll down “The Main Street of Texas”, Congress Avenue where many businesses will be open late and have decked their halls and display windows in holiday style. One sidewalk-adjacent travel lane on each side of Congress will be closed to vehicle traffic from 11th to 6th streets to accommodate the crowds.
Along the Avenue you’ll discover loads of wonderful live entertainment in office building courtyards and on street corners. Refreshments, children’s activities, shopping, a Bicycle Zoo parade and more are also part of the merriment that will go on for a couple of hours.
There will even be a Santa’s Workshop. And the jolly big fella himself will be found holding court in the lobby of One American Center at 6th and Congress.
As long as you’re in the area, also make a point of taking in a few blocks of Historic East 6th Street too (before the Saturday night revelers show up after 9pm). East 6th looks lovely this time of year with holiday street decorations its entire length, the majestic Driskill Hotel all dressed out (don’t miss a peek inside), and many local businesses are showing their spirit.
What a fine night for a carriage ride around Downtown, too! The horses usually line up in front of the Driskill. (That’s a great photo-op, by the way.)
It is also requested that you share the spirit of the holidays by dropping off a jar of peanut butter at the downtown Christmas tree for Caritas to distribute to those in need.
This event is made possible by generous sponsorships from Whole Earth Provision Company, Goodwill Industries, The Bob Bullock Texas State History Museum , Ballet Austin, InStep, Louis Shanks Home Furnishings.
(Compiled from information from the Downtown Austin Alliance and KUT. Capitol and caroler photos courtesy of the Austin American-Statesman. Driskill lobby photo in HDR courtesy of Trey Ratcliff, www.stuckincustoms.com)
Bremond – A New Downtown Apartment Building Is Proposed
A new site plan has been submitted to the city by developers Mike McGinnis and Rick Hardin for a new 70 unit downtown Austin apartment building. Called the “Bremond,” the name is clear a nod to its unique proximity to the Bremond Block Historic District. The 0.41 acre site, if built, would use the address 807 Nueces St. The written application calls for 12 stories, four to be used for parking. There is no retail component, which is not surprising given the area.
The site is currently an asphalt parking lot.
UPDATE 12-6-2010:
Check out the rendering. Note, none of the buildings along 8th will be razed. The development will not need any variances or public hearings.
W Hotel: Looking Good
The pedestrian barricades along Lavaca & 2nd Street are gone, and the W Hotel is looking damn fine. I love this pic from Photolitherland @ SkyscraperPage.
Above, you can barely make out the strip of LED lights running the span of the building. When I took the photo they were changing color: green to blue to red, etc.
FOCUS ON: Austin’s Homeless
Elroy Morales, Isaiah Thomas, Gary Matthews… These names are among the 158 homeless people who lost their lives last year in Austin.
“They may have been invisible to many people in their lives on the streets but today they are NOT invisible,” said city council member Laura Morrison at the Homeless Memorial Ceremony.
More than 9800 people in Austin are homeless. As city manager Marc Ott watched the proceedings, he reflected on his own decision to experience this life first-hand.
“For me it was eye-opening,” city manager Marc Ott said. “I mean I was struck by things like the idleness… simply having nothing to do all day. I was struck by when I first got there that morning, when I got downtown the reaction of people to me.”
Ott says he is still digesting from his experience.
“While housing first in my humble opinion, housing alone is not enough,” Ott said.
The Austin City council passed a resolution calling for 350 units of supportive housing, but other key factors must be addressed including mental health and job training.
“Beyond that a job would provide that same sort of aha, right on, work yes let’s go John Q citizen again rather than a reptile sitting on a dang gazebo,” Charles, who is homeless, said.
Charles and his wife, Alice, were left homeless after Hurricane Katrina.
“We’re a family. I’m a family man without so much the house,” Charles said.
They haven’t had much luck weathering the job market.
“People think we’re out here drinking… yeah I wish!” Charles said.
“People say, ‘why are they waiting around?’ Well, there are 3,000 people waiting to get into public housing, there’s a waiting list for case management, there’s a waiting list for the health clinic, there’s a waiting list for everything. So that at some point what else are they going to do,” said Dawn Perkins, the Director of Communications for Front Steps.
Life on the streets is waiting game… some wait to die. Others hope for a hand up rather than a handout.
– Nicole
Cap Metro Closes Downtown Bus Stops (Congress Avenue)
A little late writing about this, but thought it important to the Downtown Austin community that I post anyway. On November 6, 2010, Cap Metro closed down several of the bus stops on Congress Avenue, citing traffic and safety issues under the old system, which had a bus stop at every block of one of Downtown Austin’s main downtown thoroughfares.
I talked with John-Michael Cortez, the Interim Manager of Community Involvement at Cap Metro. He explained that these changes have been discussed for years, but the recent construction on Brazos Street and the subsequent detours routing extra busses to Congress stops have exacerbated congestion and traffic accident issues and has pushed the Agency to close some stops on Congress now.
He says these stop closures are the short-term solution, and that next steps will include gathering feedback, giving a preliminary report to Cap Metro Planning and Operations committee in early December, then giving a detailed, quantitative report on the outcomes to the Cap Metro Board in January. If the bus stop closures are deemed to be successful in decreasing congestion / traffic problems while maintaining customer and stakeholder satisfaction, Cap Metro will most likely decide to close additional stops on Congress to have only 3 NB and 3 SB stops total. THEN, if all goes according to service plan 2020 (which Mr. Cortez was quick to say was not set in stone), all Congress bus stops will be relocated to Lavaca / Guadalupe “transit corridors.”
Mr. Cortez said that, to his knowledge, the changes have only received a positive response. However, some stakeholders may have the concern that by closing down bus stops will only increase the crowds at the remaining stops, thereby inhibiting pedestrian traffic to and from their space. Also, at least at 6th and Congress, there seems to be an awful lot of people hanging out at that bus stop that have no intention of riding the bus – to where will that element relocate? (I bet you that Keepers is pumped about the closure there.) And lastly, those that use the Congress Avenue bus stops as transfer points may be seriously affected, to the tune of perhaps missing a tight transfer because they have to walk 1 or 2 blocks further. Which means serious delays.
Mr. Cortez says that Cap Metro will actively be reaching out to the community to get feedback regarding these concerns, among others. While he says they will be proactive in their attempt to talk with stakeholders about the impact of these closures, it never hurts to reach out to them if you have an opinion. You can contact Community Involvement Coordinator Alissa Schram at Alissa.Schram@capmetro.org or John-Michael Cortez directly at John-Michael.Cortez@capmetro.org with your thoughts on this decision.