Search Results for: sabine

Yum! New Eateries in Downtown Austin: Thundercloud Subs, El Naranjo, and Nacho Creations!

AG | March 20, 2010 |

I don’t really cook, and I don’t own a car, so if I want something good to eat and want said something good to eat in short order – I’m pretty dependent upon restaurants/eateries/deli’s (whatever you want to call them) that are within walking distance. I’m particularly partial to those establishments where I can get something tasty, satisfying, and simple at a reasonable price.

Which is why I was pumped when three new restaurants recently popped up in my Downtown Austin neighborhood: Thundercloud Subs, El Naranjo, and Nacho Creations.

Thundercloud Subs, 360 Nueces, 512 472 7827

Thundercloud Subs is more than a catchy jingle (btw, I’m a Veggie Delight and Jude is a New York Italian), they are “your neighborhood sub shop.” And now they are MY neighborhood sub shop, too! They’ve been open at their 360 Condos location for a about a month, and I’m delighted to say that the vibe AND the food is what we’ve all come to expect from Thundercloud. Quick, delicious, and fresh food at a reasonable price (I got the regular Tuna Sandwich combo – sandwich, chips, and drink for $5.99) with a simple and clean (but with more character than Subway) vibe. Service was friendly – but my sandwich artists looked a bit bored – only because apparently business hasn’t been quite as good as expected. I was the only person there at noon on a Saturday, which seems weird. I want to keep the likes of Thundercloud in Downtown Austin, so please go out and support – buy a sandwich (and get a cookie, too – you deserve a treat)!

For your convenience – click here for a downloadable menu.

El Naranjo, 85 Rainey Street, 512 474 2776

This is me being excited to try some new food at the conveniently located el naranjo.

4/2/2010: UPDATE – I ran into Chef Ileana after this was originally written – she informed me that the portion sizes are now larger. I have not re-visited el naranjo yet, but will take some pics next time I’m there and report my findings!

I will say this – the food was delicious. Chef Ileana de la Vega knows the cuisine, and knows flavor – I readily exclaim this to the masses. For me, the main problem (nay, really the only problem) with el naranjo was that I didn’t feel like I got nearly enough of that delicious food for the amount of money I paid. Perhaps I’ve been spoiled by the quality in relation to the portion size at G’Raj Mahal, where I can get a very tasty, high quality $9.00 plate that takes me two sittings to eat (even though I did initially have some pricing concerns here, as well), but I left el naranjo feeling like I got a $12.00 snack (albeit a flavorful one). I’m kicking myself for not taking some snapshots of the food – as I think a picture would be worth a thousand words in this particular case.

However, other than portion size (of which I do not want to minimize the importance), I was pleased. Right now, as an intermediate step toward opening a full blown indoor restaurant, el naranjo has taken up in what seems to be all-the-rage in Austin eateries these days: a trailer (fun!)! They’ve also put out picnic tables for outdoor seating, adding to the patio-scape that is the Rainey Street bar and restaurant scene:

Click here for a downloadable menu of El Naranjo’s opening selections.

I actually have not been here yet, but heard second-hand about this casual Tex-Mex concept’s opening. Apparently, Nacho Creations rents the Texas Picnic Company location during the evenings and weekends. Different owners, entirely different concept, same space. A great idea to maximize the use of an otherwise only day-time and weekday business space. Nacho Creations’ hours are as follows:

Wed – Thurs: 5:00 pm – 1:00 am
Fri: 5:00 pm – 3:00 am
Sat: 12:00 pm – 3:00 am
Sun: 12:00 pm – 10:00 pm

Planning on trying it after the SXSW rush, and will hopefully add some commentary then. If any of our readers have tried it – would love to hear your thoughts!

I’m excited that new, casual style restaurants are continuing to open here in Downtown Austin. I like the “everyday people” focus these establishments are taking, and believe they are well-suited to the residents and visitors of Downtown Austin.

….

Now, I gotta go, because it’s time to eat!

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The Shore Condos Closeout

Jude Galligan | January 11, 2010 |

Perhaps in light of the upcoming Sabine auction, The Shore Condos is aggressively working to closeout their sales program. We just received a note from sales office: eight units remain and discounts range from 10-25% off of original asking prices. A large 1bd + study on the 18th floor can be purchased for $243,750. This same unit would have been offered at $325,000 in late 2008.

A pdf of the remaining units and pricing can be downloaded here.

DAB readers will recall that 2009 was a great year for the Shore, as they quietly discounted and sold nearly 75 units over this past summer. In fact, in November, we closed on our new space at the Shore [we’ve leased our beloved 1bd at the Sabine]. The construction quality is outstanding, and the proximity to Rainey Street and the trail cannot be beat.

Kanye West Purchasing Austin Loft? Perhaps, But Not The Austonian Penthouse

Jude Galligan | December 3, 2009 |

I love to see effective guerrilla marketing in action.

Earlier this month it seemed as if every Austinite on twitter was sharing rumors that hip-hop fashionista Kanye West purchased the top floor of the Austonian. Skeptical, as is my nature, I was doubtful – I had just toured the top floors. The Austonian is the furthest you’ll get from a proper “Austin loft“. The rumor propagated with Kanye’s lyric “New crib-LOFT IN- where its at-AUSTIN-where is that-Texas!!!”

I was scratching my head, and thinking “really?”. Pushing down my gullible pride, I bashfully confirmed with the Austonian. The rumor, of course, is 100% false, but it resulted in discussion and intrigue. This was cunning guerrilla marketing. 🙂

Think about it. Eventually, perhaps this year, a buyer will emerge for the Austonian penthouse. There are a handful of buyers that have their eye on this space, but are biding their time, waiting to see if the fierce competition among the luxury towers will further soften prices across the board. These towers are already negotiating, very discretely, behind closed doors. But, for the buyer that has their eye on a product with no substitutes, one day soon, they could wake up to real news that what they desire is no longer available.

Below, I’m reposting a comment I shared in another thread

Jude Galligan wrote:

The current market for these buildings [Spring, W, Four Seasons, Austonian] works like this: There are buyers right now paying for a specific view, or floorplan, or the flexibility of combining units. We’re negotiating hard, and seeing deals with 10-15% discounts from asking. More or less depending on the specific space and the buyer’s desire for customizations. At this level, buyers often just want a shell space and the ability to bring their architect into the discussion. There are other buyers waiting patiently for better negotiating posture in a softer market – they are less concerned about having a specific space.

Until each building receives a certificate of occupancy, and we can observe the velocity of closings on the existing contracts, it’s challenging to gauge a market for a product that Austin is unfamiliar with (i.e. luxury urban condos).

I don’t expect they will sell out before they open, unless they soften their prices in a blanket fashion come springtime. However, I don’t expect you will see auctions (with the possible exception of the attainably priced Sabine) as the financing for the Austonian, W, and Spring give them a couple of years from construction completion before they need to repay the debt.

Grapevine stories:
http://austinist.com/2009/11/04/kanye_probably_wont_be_at_the_runwa.php
http://modernmanmusic.wordpress.com/2009/04/13/gotta-loft-inaustin

Reltated posts about penthouse living:
https://downtownaustinblog.org/2009/10/09/pros-and-cons-of-living-on-the-top-floor/
https://downtownaustinblog.org/2009/06/12/the-downtown-austin-penthouse-part-one-economics/

Waller Creek Meeting Notes

Jude Galligan | November 13, 2009 |

At last night’s WCCAC meeting:

1) We learned that the City is negotiating the purchase of three contiguous lots located along southbound frontage road and bounded by 4th and 5th Streets. This area hosts the east bank of Waller Creek between 4th and 5th and is currently used as a surface parking lot. The land acquisition will be purchased with funds from the Waller Creek Tunnel Project, and will likely become a temporary staging ground for the construction of the tunnel. Ironically [to me at least] these lots are not on FEMA’s 100 year flood maps, and therefore wouldn’t directly benefit from the tunnel improvements designed to remove land from the 100 year flood plain. The lots are encumbered by Capitol View Corridors, though. You can see the lots under “Kuykendall Addn”.

2) The WCCAC made an official recommendation to City Council that the Strategy 1 improvements identified by ROMA’s Waller Creek District Master Plan be included in the items for the 2010 Transportation Bond. The bond is limited to issues of mobility, including pedestrian uses such as the conversion of Sabine Street into a promenade.

3) Perry Lorenz provided citizen communication that the 21c project is moving forward and the development team is flying to Austin from Louisville with updates in the first week of December. In addition to getting a more comprehensive project status, we should receive a better idea of the amount and types of consideration the project is paying towards Waller Creek improvements adjacent to the property.

4) The I-35 Makeover project is going to be complete in 2010 and will be funded from the parking fees collected underneath I-35. No word yet on improvements to the 4th Street overpass, but WCCAC requested to be included as a stakeholder should that discussion commence.

5) Matt Knifton of the Texas Rowing Center provided citizen communication about TRC’s bid for the boathouse. Notably, last year TRC donated roughly $30,000 in community outreach in the form of education and classes for minority children and those with disabilities. Matt estimated that as a PARD concessionaire since 1999, the TRC has returned over $400,000 to the city;moreover, throughout a 20 year lease of the new boathouse, there is potential to generate nearly $3MM in concession revenue for the city. The TRC would have the opportunity to further increase their community outreach programs, making the lake more accessible to more Austinites.

In summary, it’s nice to see action and momentum!

-Jude

Downtown Austin Facts

Jude Galligan | October 28, 2009 |

Do you believe downtown Austin is overbuilt? If you do, I don’t blame you for thinking that. Over the past two years, the traditional local media outlets have delivered an array of sensational headlines, like “Condos Caught By Crisis At Last“. But, dig a little deeper and you could find a new perspective based on data, rather than some columnist leading a band wagon.

At the Downtown Austin Blog, we are passionate about downtown and urban Austin real estate, but we can recognize that prices have softened. In fact, we think that’s a good thing – more people can afford to move here! As much as I’ve railed against certain Statesman columnists for their curmudgeon style sensationalism, ironically, perhaps it was those stories that drove this summer’s buying spree. If you advertise a sale, then you expect buyers to come. That’s what happened.

We’ve written about the auctions and discounts. We’ve observed how an average 25% – 30% discount will clear out a building quickly – like 90 minutes quick. We’ve seen this at Brazos Place, at 360, and at the Shore where residences which had been trading at upwards of $400 per foot in 2007 are for all intents and purposes gone.

NOW WHAT?

Recently, you might have heard former Austin Mayor Will Wynn’s radio ad for downtown living. I’ve only heard this ad on KGSR, but it could be playing elsewhere. Click below to listen to it.

This advertisement directs you to a website called downtownaustinfacts.com. The goal of this website is to combat mis-information about downtown Austin being over built. To quote the website…

While many people believe that the Downtown Austin condo market is overbuilt, the fact is only about 400 new condos remain for sale downtown. With the economic downturn and continuing tight credit markets it is very unlikely that any more new condos will be built downtown for at least another 5 years. That means there are only 400 new downtown condos for sale for the next 5 years.

By my count this number is low. If you only count Spring, W Hotel, Four Seasons, and the Austonian, then 400 units is close to accurate. If you include the remaining units at the Sabine and 904west, (those are rehabs, not new construction) then the number is closer to 475. Those extra 75 don’t make a big dent in the argument, however.

THE INVENTORY IS LOCKED IN. You will not see any new projects come out of the ground until at least 2013, perhaps longer.

Here are more facts that DAB has come up with.

1) # of downtown Austin condos available for sale and ready for immediate occupancy = 284, approximately (156 in MLS + 128 Spring units, not including 44 units at Sabine)
2) # of downtown Austin condos under $300 per foot = 42 (from MLS, not including the 44 units at Sabine)

By and large, the new product under construction in downtown Austin is considered luxury product. Downtownaustinfacts.com makes this point salient, even if not overtly. Sabine will go to auction, soon, and then what is left that’s under $300 per foot? The answer: only resales. Over the next few years expect this shortage to drive demand for resales.

The past few years have been dominated by new construction. That’s over. The remaining inventory of new construction in downtown Austin happens to also be the most expensive. We can speculate on pricing discounts, but until those buildings are complete, and we see contracts converting to closings, it’s too early to tell what the velocity of sales will be, and how aggressively they will negotiate with buyers. What the data clearly shows is a shortage of attainably priced homes in downtown Austin. There is no slowing the demand for downtown living.

-Jude