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I recently helped a couple downsize from a 3,000sf suburban home into a 1,000sf condo.  Getting this empty-nester couple to move would not have been possible without storage.  They purged a lot, but still ended up using all three of the options below.

Where space is scarce, storage is costly.  Prices for storage units have gone up in recent years.  A few times each year we see a storage unit come up for sale at the Shore Condos.  The last one was ~$7500.  Recently, I observed at 360 condos a storage unit trade for $15,000.  Storage units at the Austonian will trade for ~$20,000, on average.

Storage units in building
Cost: varies, $2,800 – 20,000 (rent $75 – 200+/month)

Storage closets/units/lockers come in many shapes and sizes.  Most high-rise condos do not convey with a storage closet (some do, for example Bridges On The Park and Brazos Place). The ones that do don’t always have enough storage to meet demand.  Sometimes it’s just a fenced cage, other times it’s an actual closet with lockable door and electricity.

Unless a storage unit conveyed with the sale of the condo (a buyer can amortize the cost of the storage unit over the term of their mortgage) most transactions for building storage units are handled in cash.   The cash-only aftermarket can put storage units out of reach for some owners.  As you can see below there is a wide range of pricing.

Recent transactions:  (sizes are ballpark based on owner input)
*5 Fifty Five – 4’w x 7’d x 7’h = $2,800-4,000.
*Milago = $3,750
*The Shore – 4’w x 7’d x 8’h = $7,500
*360 Condos – 5’w x 7’d x 9’h = $15,000.

Public Storage
Cost: varies, ~$100+ per month

Many downtown condo dwellers forget there is a Public Storage close by on W. 6th Street.  As of this post, these rentable storage lockers start at $122 per month, plus a $75 move in fee, for a 5’w x 10’d.

I try to avoid renting whenever possible – it’s a sunk cost, and you need to drive to get there.  However, when you’re downsizing and about to start moving, you just want an easy place to put stuff.  This is where Public Storage is really helpful.  Later you can transition into more permanent storage options once settled into your new digs.

USU “Urban Storage Unit”
Cost: fixed, $2000

The USU is sturdy box that sits in front/above your parking space.  It maximizes space you are underutilizing.  We have two of these and they are perfect for golf clubs, ski/snowboard equipment, holiday stuff, tools, and generally bulky items we want convenient access to from our door.

We needed to persuade our HOA board to let us install the USU, but now more buildings and HOAs are approving them based on the convenience and value these bring to their residents.  You can see USUs in use at the Four Seasons, Spring Condos, W Hotel Residences, and the Shore Condos.

Hopefully, this will help those of you longing for some extra space. If you’ve seen more creative storage solutions, please make sure to share in the comments!

-Jude

[UPDATED:  Though we’ve not used SpareFoot, we wanted to give them shoutout.  SpareFoot is an online self-storage marketplace that allows storage seekers to search by price and area.  So, you can price shop storage facilities across Austin.  They are based in downtown Austin, too!]

There’s been a smattering of interesting dining news recently:

1)     The original Opal Divine’s on West Sixth Street will close on May 31st. They are currently working on a deal in the downtown area for a 5400-square-foot new Opal Divine’s. Look for an announcement soon on the exact location. Projected opening date is June 2014. (Dear lord, please don’t let another ‘effing steakhouse move in to Opal’s soon-to-be vacant space.)

2)     Memphis-based Gus’s Fried Chicken is moving into the Mongolian Grill spot, on San Jacinto and Second Street. This little stretch of downtown has consistently had well-intentioned people (Hank’s Garage, anyone) fail horribly on the stretch, but who knows… Americans love chicken.

3)     Dallas-based TexMex eatery Uncle Julio’s is setting up shop on the ground floor of the Whitley. By the look of the recent press releases the chain has issued, Austin is just one stop on Uncle Julio’s rapid expansion across America.

Austin homeless arrests present quagmire

Austin, with its warm weather and generally liberal leanings, have always been a home to a large transient and homeless population.

However, new data released by the city, in response to a request from Council Member Chris Riley, shows that for the first seven months of FY 2013, there have been more homeless-related downtown community court cases than in all of FY 2012. In addition, just about half of the cases originate from repeat offenders.

According to the city, the Austin Police Department began executing public order initiatives in fall 2012 – coincidentally, right about the time it rolled out the red carpet for Formula One – which has resulted in the problem offender population receiving many new charges, mostly related to City Ordinance violations, such as Camping in Public.

So says the city: “Unfortunately, there are extremely limited options in finding permanent supportive housing for problem offenders with extensive criminal histories. Without options for permanently housing these individuals, they will continue to receive new cases, further limiting their chances for acquiring housing.”

Go to the source here (PDF)

Council hands $2M to event promoters

The city is revamping its Special Events Ordinance, and a topic that keeps floating around the downtown neighborhood crowd is how much in fees City Council is waiving for these events.

Council Member Laura Morrison asked and got the answer: $2 million from the beginning of FY 2012 through FY 2013 year-to-date. These fees, from what I understand, are related to the costs of having traffic and public safety staff working on events and plans in place.

Not surprising, SXSW is granted the lion’s share, about a half million in waived fees.

I’m sure a lot of these organizations that are receiving waivers are fulfilling charity missions, but I’d be curious to know if the City Council ever asks for, or audits after the fact, how much of the profit generated by these events actually goes to a charity.

Go to the source here (PDF, hat tip to InFact Daily, which reported this this week. They are behind a pay wall, so no link guys.)

I got married!!!

After eight wonderful years, my longtime girlfriend- who is also the backbone of my real estate business and a strong DAB contributor – and I had a wonderful downtown ceremony at 9th and Congress.

I’m going to steal a page from Car Talk and ask you to refrain from posting any congrats in the comments section. Instead, write any notes of congratulations on the back of a 27-inch iMac – with a 3.2GHz third-generation Intel Core i5 quad-core processor, high-capacity 1TB hard drive and advanced NVDIA GeForce graphics, packaged in an incredibly razor-thin, all-in-one design – and deliver it to my office. (Please write any notes in a water-soluble marker as to not hamper the resell value.)

Fairmont hotel spurs nearby land deals

The dirt parking lot across the street south of the Fairmont hotel site, plus with the Iron Works BBQ auxiliary parking lot (due south of Iron Works BBQ) are both under contract, which hints at future development.

Plans are not being disclosed, but one buyer group is reported to be local and the second is from California. Robert Knight and Perry Lorenz own the land are are also selling a lot at Red River and Fourth Street.

The Austin Business Journal has more

Austin Towers has more on the Fairmont

Downtown a major draw for new residents

The Austin American-Statesman parsed some census data and confirmed that downtown is a major destination for the hoards of people migrating to Austin.

Downtown Austin had the highest percentage of Austin residents who had lived in another state one year earlier. About 1 in 10 of downtown’s population moved from another state.

A commenter to the story, said: “The first thing the agent showed us when we moved here was Steiner Ranch. We asked her to turn the car around and leave. Steiner is exactly the kind of place you find in Anytown, USA. Why bother to move here? We opted for downtown. DT is Austin.”

Statesman has more

Downtown businesses launch car-reduction program

The Austin City Council approved a measure to help fund a pilot program for downtown business tenants to encourage their employees to get to work without a car.

This could include bike parking, employee subsidies for car sharing or transit passes, alternative work schedules or workplaces with locker and shower facilities. (Still waiting on bike share, City Hall people. What gives with the hold up?)

Businesses will have to apply to participate in the pilot project. Applications will be accepted through April 30, and the program will be activated between May and June. For more information visit the program website.

KUT News has more

Local Texas lawmakers take on Congress Ave. development

Bills filed by State Sen. Kirk Watson and State Rep. Donna Howard would make the stepback standards that the city currently enforces in the area into a state law. It is being reported that the Downtown Austin Alliance supports the bill.

The Austin Contrarian blog posted a critique, which drew a full-fledged response from Sen. Watson.

The Austin Business Journal has more