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Downtown Austin Blog

downtown Austin's real estate and neighborhood blog

Underground: Let’s Walk The Waller Creek Tunnel (VIDEO)

Jude Galligan | August 30, 2012 |

As a member of the now defunct Waller Creek Citizens Advisory Committee and a past resident at the Sabine condos with a view directly over the excavation site, I’ve seen planning for Waller Creek evolve over the years.

Earlier this week, Matt Parkerson in Council Member Riley’s office, invited me to join them on a tour of the tunnel. I jumped at the opportunity.

The logistics of mining under a city is fascinating. The tunnel diameter tapers wide from 20 feet to 26 feet in diameter as it approaches the outlet at Lady Bird Lake. The pace of progress is about 15 feet per day. Dump trucks make somewhere around 75 trips per day.

We entered the tunnel between 4th and 5th Streets. Once inside the tunnel we walked to the end of their progress, currently, just below Iron Works BBQ.

Once the mining is complete, the exposed limestone will be coated with concrete. Cost to construct the tunnel: $105 million.

If you’ve ever seen Discovery Channel special on how NYC subways were bored, know this is not like that.  There is no giant spinning disc cutting through the earth. Compared to Manhattan granite, this Texas limestone cuts like butter. Like an old dot matrix printer, the boring head cuts away limestone with each back and forth pass.

As an aside: everybody on the tour was thinking the same thing. Why couldn’t we do this for a subway? Well, we can. One of the contractors shared (off-camera) that Austin’s limestone is [actually] perfectly suited for mining a subway tunnel and wondered why the city has not pursued that with more enthusiasm. The length of Waller Creek tunnel is roughly the same length to get from I-35 to Lamar Blvd. An identical tunnel for similar cost could support a subway to traverse east-west through downtown.

Thanks to Council Member Riley and his staff for the invitation!

Filed Under: austin news, Austin photos, images, urban planning, waller creek

New Apartment Tower At 97 Trinity?

Jude Galligan | August 9, 2012 |

Based on conceptual plans filed with the City of Austin, national real estate developer Wood Partners could be entering the downtown Austin apartment market with a tower at the southeast corner of Trinity @ Cesar Chavez.  Recently, it was announced that the one-acre site was sold from Hixon Properties to World Class Capital Group.

The plans refer to the project as “Trinity Place.”

Even with the Lakeside apartments to the south, a 6-9 story structured parking garage would allow clear lake views for most of a residential tower.  Lakeside is an aging structure, so perhaps this is an opportunity for the City to partner with a developer to provide a modernized affordable housing component.  Also, I think the Convention Center could be interested this site for future expansion.  Either way, it’s exciting to see something happening on this site.

Trinity Place conceptual footprint – Cesar Chavez @ Trinty (pdf)

Filed Under: austin apartments, austin towers and high rises, development, downtown austin, lady bird lake, Railyard District

Banger’s in Rainey Street District Downtown Austin – MENU, Review, Video, Pics

AG | July 30, 2012 |

Today was the grand opening of Banger’s Sausage House & Beer Garden in the Rainey Street District of Downtown Austin.  Our office at the The Shore Condos is just a stone’s throw away, so we wanted to support one of the most anticipated venues coming to the ‘hood. We went, had a beer and some grub, and really just enjoyed the perfectly chill vibe, despite the crazy, terrible, make-me-want-to-stab-my-eyes-out heat.

Some will say this is Rainey Street’s answer to  [Read more…] about Banger’s in Rainey Street District Downtown Austin – MENU, Review, Video, Pics

Filed Under: austin bars, austin lifestyle, austin neighborhoods, austin recreation, austin restaurant reviews, austin small business, downtown austin, Downtown Austin lofts, condos, apartments, high rises, lady bird lake, Rainey Street District

Hotels in Downtown Austin: Girls’ Night at the Omni Downtown

AG | July 27, 2012 |

I already live, work, and play in downtown Austin, which means that I know a lot about this area.  However, one element that I’m not really that familiar with is the hotels in downtown Austin.

Recently, I was lucky enough to receive a complimentary stay at the Omni downtown.  I decided to take advantage of the free stay and do a mini stay-cation with a couple of fun girlfriends.  I figured this would be a different way to get to know the city, and have [Read more…] about Hotels in Downtown Austin: Girls’ Night at the Omni Downtown

Filed Under: 6th Street Historic & Entertainment District, austin bars, austin history, austin retail, austin towers, austin towers and high rises, downtown austin, entertainment district, girls night out, high rises, retail

BY THE NUMBERS (June): Downtown Austin Condo Sales

Jude Galligan | July 23, 2012 |

downtown austin condo price trends

In June, we observed downtown Austin condo prices averaging $381/ft for resales and $590/ft for new-luxury sales. With no new projects planned, a chunk of downtown Austin’s condo inventory is removed every month.

Pricing in Austin’s urban core continues to trend up for three reasons:

1) Shrinking inventory emboldens sellers
2) Low interest rates – hovering at 3.40% – enticing buyers
3) Migration patterns into Texas, specifically Austin, more specifically downtown Austin

Combined sales of new construction and resales removed 41 units from inventory in June, representing $25,156,400 total sales volume.

Currently, there are 94 resales and 172 new construction units available for sale in the downtown Austin core.

downtown austin condo price trends

June 2012 Resale Statistics

- # of resale transactions = 28
- avg price per foot = $381
- avg sales price to list price (SP/LP) = 91%
- avg days on market (DOM) = 17 days
- Total resales volume =  $12,829,900

June 2012  New Construction Statistics

- # of new construction transactions = 13
- avg price per foot = $590
- Total new construction sales volume =  $12,326,500

[table id=31 /]

Filed Under: Austin Real Estate Data & Statistics, DAB Stats, data, statistics, downtown austin, Downtown Austin lofts, condos, apartments

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