Downtown Austin Blog

downtown Austin's real estate and neighborhood blog

Legacy On The Lake – first tour with video

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I received an email last week that the new Legacy On The Lake residences were open for business, ready to lease, and offering tours of the building.  This would be a good opportunity to preview a building that seems to have been under construction forever.  So, I grabbed my camcorder and headed over.  Located at 43 Rainey street, the Legacy is the third building, along with the Shore and Milago, to join the Rainey Street neighborhood in the past three years.  With 31 floors, the Legacy towers over the lake. The views are what you would expect at that height – amazing.

Videos after the jump!

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Is Downtown Austin ready for another grocery store?

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Whole Foods
Whole Foods

Whole Foods made Downtown Austin what it is today. There, I said it. Without an anchor grocery store Downtown Austin would never have come so far. The Market District wouldn’t exist. It helps that Whole Foods has a brand cache and a great shopping experience. Personally, I end up spending as much money at other grocery stores, so I don’t believe Whole Foods is over priced. And, as big as it is today, Whole Foods was at one time a small business in Austin.

Royal Blue
Royal Blue

When AMLI Downtown opened, Downtown Austin got its second grocer. George Scariano opened Royal Blue Grocery. It was an instant hit. Urban dwellers want to see more of those blue awnings around town. Anyone that’s lived in NYC will feel at home here. It’s a small bodega-style grocer that has a little bit of everything. Outside you’ll find a magazine rack, tables, and people enjoying the scene.

Recently, the city received design ideas for the Green Water Treatment facility on Cesar Chavez. One of the entries prominently rendered a two-story H-E-B as part of the retail mix. The first time I saw that rendering I was sold on the idea. I realized how nice it would be to have some choice. Don’t get me wrong, I love Whole Foods and Royal Blue, but there is a place for a “regular” grocery store. I’ll go a bit further and say that I’d like to see it along Congress Avenue.

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Veteran's Day

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Thank you military veterans!
Thank you military veterans!

“Each individual of the society has a right to be protected by it in the enjoyment of his life, liberty, and property, according to standing laws. He is obliged, consequently, to contribute his share to the expense of this protection; and to give his personal service, or an equivalent, when necessary.”

— John Adams, Thoughts on Government, 1776

As you all are winding down today, take a moment and reflect on the important day today is.  It’s Veterans day.

Downtown Austin held host to a parade honoring those who have served our country. The event began at 9 AM from the Ann Richards Congress Avenue Bridge and traveled up to the Capital Building. Viewing wass available all along Congress Avenue. A Ceremony at the South Capital steps followed the parade.

La Vista on Lavaca picks up new investors

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La Vista on Levaca - back on track
La Vista on Lavaca - back on track (?)

For a few months La Vista was turning dirt, blocking streets, and looked like a real development. Then…nothing.  Radio silence.  In early 2008 rumors began to trickle through the real estate community that prices for these condos would average $500psf.  Some would consider that hubristic price for a location that has been overlooked for years.  Located at 18th & Lavaca, this project sits between three major economic zones – Downtown Austin, the Capitol, and UT.  This location, historically underutilized, could be the perfect fit for lawyers, lobbyists, and [tenured] professors.

I imagine the terms on this deal are pretty favorable for the new investors.  This is great news for Downtown and UT.   If, in fact, La Vista on Lavaca reaches completion, it has the opportunity to revitalize the area surrounding it.  Fingers crossed.

more about this story can be found at the Austin Business Journal