Downtown Austin Blog

downtown Austin's real estate and neighborhood blog

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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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.

Is 2nd Street Getting A Movie Theater?

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AMLI is rumored to have signed a lease with an operator for a 3-4 screen movie theater to take the space above Malaga and Z Pizza.  We’re told the theater will serve food and drinks (including liquor), and the menu would consist of items from restaurants located in the 2nd Street district.  It’s clear from the photo above that the space isn’t very deep, and it’s possible that part of the venue would extend over the sidewalk.

We don’t know who the operator is, but we do know it’s not local favorite Alamo Drafthouse Cinemas. The addition of a destination venue like this, and the wrap-up of the W-Hotel’s construction will be a breath of fresh air for neighboring retail on the 400 block of W 2nd Street.

Downtown Austin’s 2nd Street District retailers have been hit hard with the economic downturn, and the venues on 400 block have struggled to keep up with the foot traffic found just two blocks over where Jos, Estilo, and DWR are located.  Many pedestrians end up not walking beyond the W Hotel construction site.

SXSW Venues Available For Lease

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UPDATE: For SXSW 2012 venue and event rental contact Downtown Austin Blog here

It should come as no surprise that downtown Austin venue rental during SXSW is not cheap.  Want to brand a piece of real estate off of 6th Street?  $10k in venue rental + $10k guarantee in drink sales was what one national brand paid a venue on Red River for a single day last year.  Of course, there are other deals depending on what your company is trying to accomplish.  SXSW brings ~100,000 people into downtown Austin, and competition for space is fierce.

Knowing the venues and the operators is key.  If you send me a note telling me about your company/group, describing the kind/amount of space you need, how long you need the space for, and for what purpose, I’ll be happy to talk with you about what’s available.

-Jude

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