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Build or Bust? Fact or Fiction? Downtown Austin Condos

Jude Galligan | November 19, 2008 |

You might have seen this article recently.  It’s an interesting read.  Filled with quotes and bold statements.  You might have also seen my recent article about the actual number of dwellings in Downtown Austin.  As your loyal Downtown Austin Realtor (plug!), I thought I would dissect this article and give you the scoop from the trenches of Downtown Austin Real Estate.

I’m going to cut/paste a handful of quotes from the article, and then explain if that quote is, generally speaking, true or false.  Let’s begin…

“If people are waiting for the crash to come and for people to give away condos downtown, it’s not going to happen,” Spring developer, Perry Lorenz

Know the truth after the jump!

[Read more…] about Build or Bust? Fact or Fiction? Downtown Austin Condos

Filed Under: buildings, development, downtown austin, Real Estate Tagged With: condos

Gables Park Plaza

Jude Galligan | October 7, 2009 |

Gables Park Plaza

Gables Park Plaza – located just south of Spring Condos and wedged between Lamar and Cesar Chavez – has begun pre-leasing.  With it’s completion, this is the last of the downtown Austin apartment complexes resulting from real estate boom of 2007.  This location will appeal to many of the same people who are attracted to Bridges On The Park: families with dogs, those who regularly utilize the trails, and want to live near downtown but not IN downtown.

Gables Park Plaza - the windows shown here face south over the lake
Gables Park Plaza - the windows shown here face south over the lake

The exterior design is predictably Gables and intended for a wide audience.  It’s just fine, if a bit antiseptic.  I’ll have an opportunity to preview the interior finishes within a couple of weeks.  Amenities will include a roof-top pool, iPod docking stations, solar shades on all windows, and bamboo floors.  Expect retail on the ground floor.

Below is a schedule of completion dates (a close proxy for move-in readiness).

1st floor: Phase A ready on November 8, 2009, Phase B ready on November 22, 2009.
2nd floor: Phase A ready on December 8, 2009, Phase B ready on December 22, 2009
3rd floor: Phase A ready on January 8, 2010, Phase B ready on January 22, 2010
etc, up to the 8th floor.

1bd/1ba units range from $1,395-3,000.  2bd/2ba units range from $2,275-3,600.  The B5 2bd/2.5ba – the 1859sf unit with the rounded windows and faces south (shown above) – starts at $3,575.  Gables Park Plaza is offering two months free (upfront) for leases entered into during construction.  Their website is www.gables.com/parkplaza.

A complete brochure of floor plans and current pricing can be downloaded here (pdf).  Feel free to contact me with questions.

-Jude

UPDATE 10/09/09 – MORE PHOTOS after the jump

[Read more…] about Gables Park Plaza

Filed Under: austin apartments, downtown austin

Tall Downtown Towers Bankroll Austin

Caleb Pritchard | January 15, 2016 |

At some point you have have sympathy for the cats who have to build the iconic set on KLRU’s Austin City Limits. During the show’s first two or three decades, the two-dimensional backdrop featuring Austin’s skyline didn’t require a whole lot of tweaks. But since the turn of the millennium, it seems that just about every other week a new tower rises over Bat City’s central core, sending the ACL crews back to the lumber yard in order to keep up.

After the official groundbreaking of The Independent condos on Monday, those poor souls will soon have their work cut out for them yet again. The 58-story residential tower will soon rise in its singular disjointed fashion as the brand new centerpiece of the downtown Austin skyline. Dubbed the “Jenga building” for the eye-grabbing way that it jukes and jives from the top of its parking plinth to the high heavens above, The Independent will be — as its developers are quick to remind you over and over and over again — the tallest residential building west of the Mississippi (And according to my own half-assed research, it may well also be the tallest one east of the Yangtze. Top that, Navy Town, Alaska!).

Yours truly had the fine privilege of crashing the groundbreaking party on Monday afternoon at W. 3rd Street and West Avenue. The crisp weather didn’t deter a crowd of well over a hundred people from packing into the large fenced off area just beneath the almost-finished Seaholm Residences building. It’s a testament to the explosive growth of Downtown that one can stand on the future site of a major high-rise, do a full 360-degree twirl, and not see a single building old enough to be know how to tie its own shoes yet.

turning dirt 2

Monday’s affair was part-groundbreaking for this single project and part pep rally for Downtown Austin as a whole. In fact, it almost came off as a sort of quinceanera/coming-out ball for modern Downtown: The growth spurt is at full speed and maturity is finally at hand.

Mega-developer Perry Lorenz, who has a hand in The Independent, presided over the speechifying part of the ceremony and introduced former Mayor Kirk Watson as the visionary leader who helped turn Downtown from a low-rise, dusty pancake of government offices and industrial wastelands into the vibrant-if-slightly-pubescently-awkward urban neighborhood it is today.

For his part, Watson — and this may shock you, dear reader — did not demur from the praise. “We said we were going to change the way Downtown looked because it would make a difference in our way of life and it would make a difference in our economics and it would make a difference in our tax base,” Watson, in his folksy, ebullient manner, drawled. “We didn’t have very many people living Downtown. One of the things we wanted to do was send a message to the private sector that we were serious about this.”

Watson framed The Independent as a sort of culmination of those efforts. “Not only are seeing the fruition of that vision, but we’re making history by building something this big, this neat, this cool.”

And big, neat, and cool it is! Say what you will about the arresting design (Watson, a noted non-architect, said it looks “like a Lego project gone wild.”), but give it a few bonus points for defying the cream-and-blue-glass trend of its immediate neighbors. A downtown skyline is essentially the physical manifestation of an entire city’s face, a window into its soul if you will. New York City is as timeless and commanding as the Empire State Building. Houston is as bland, lazy, and inexplicably large as the JPMorgan Chase Tower. And Dallas… well… Dallas’ most prominent landmark is a giant money-colored phallus, so God bless ’em.

Here now in Austin, we’ll soon see a weird tower with unusual, possibly stoned posture just sort of lounging around and soaking the sun by Lady Bird Lake. It will be that hippie-meets-yuppie combo of old-school militant individualism and the new go-go era of tech-money urbanism. And unlike those other cities, Austin’s largest structure will be made up of homes, not offices that are abandoned for the suburbs after 5 p.m. An asinine writer might even go so far to suggest that The Independent’s most towering statement is that Downtown Austin is for l-i-v-i-n, man.

turning dirt

Further proof of that is seen in the extended list of other residential developments that have preceded The Independent in recent years in the southwestern section of Downtown near Shoal Creek. That club includes Spring condos, 360 Condominiums, Seaholm Residences, the Bowie, 5th and West, two or three of the various Amlis, the Monarch, and several more whose names I don’t have on instant or even gradual recall in my brain. The Independent is merely the latest step in the long march towards former Mayor Will Wynn’s pie-in-the-sky-for-its-time goal of getting Downtown’s population up to 25,000 residents. Granted, we’ve passed Wynn’s deadline for that goal last year, but if any of the predictions I made ten years ago came true, the War in Afghanistan would be over, cell phone cameras would be as laughable as New Coke, my journalism degree would have secured me reliable employment in a stable industry, and Sean Penn would be interviewing billionaire cartel kingpins for Spin magazine. So you see how perilous the field of prognostications can be.

The Independent is also a stellar example of how Downtown essentially bankrolls the rest of the city.

Mayor Steve Adler, who has a remarkable ability to cater his message to the audience at hand, told the crowd on Monday that Downtown is the “the city’s piggy bank in a very real sense.” To wit: The Independent, Adler said, will be worth a grand total of $18 million to the city’s affordable housing trust fund.

As the mayor explained, “That’s the equivalent of going to the voters in the city of Austin and asking for their approval in a bond election.”

turning dirt 3

I try not to let stuff like that go to my head, but it’s awfully hard not to feel proud about my neighborhood essentially bankrolling the rest of the city. The large-scale densification from Rainey Street over to North Lamar has set the template for a true urban neighborhood where car ownership is an option rather than a necessity. The Independent will stand as the slightly awry exclamation point to Watson’s vision and the efforts of so many others who have worked to make it a reality. And if its likeness does make it onto the set of a certain long-running live music program on public television, it will serve as a reminder that behind the creative culture of this city stands the dynamic economic energy of an emerging urban success story.

Filed Under: downtown austin

DAB: News Roundup

Jude Galligan | October 5, 2015 |

Bowie Street underpass finally on drawing board

The Bowie Street underpass project, to connect the Market District to the Pfluger Bridge under the Union Pacific railroad tracks, has been in the public domain for almost six years, but stagnant without any real progress.

the fence cut-through used today to get from Bowie St to Pfluger Bridge
the fence cut-through used today to get from Bowie St to Pfluger Bridge

Now it appears engineering plans are finally here!  This is especially welcome news for residents of Gables West and Spring Condos.

Records show a site plan by city infrastructure contractor HDR (although watermarked as “preliminary”) was officially signed off by engineers and submitted to city permitters in mid-August. Past reports anticipated the underpass to wrap construction in 2016, and this is a good sign the ball is moving.

Dark shaded area shows proposed Bowie Street underpass towards Pfluger Bridge
Dark shaded area shows proposed Bowie Street underpass towards Pfluger Bridge

So Long, Cozzoli’s

Cozzoli’s Pizza, a frequent late-night haunt of downtowners at 7th & Congress since 1981, closed its doors for good last month.  Owner Moosa Meschin, who worked behind the counter until the end, posted a farewell well note as he enters retirement.

Hatbox, a haberdashery once located on South Congress, has opened up shop in the space and is a welcome addition to promote an activated N. Congress corridor.

I’ll miss Cozzoli’s comfort food.  This is a loss for everyone in downtown Austin who appreciates the unpretentious.

cozzolis-closes

416 Congress Boutique Hotel back from grave?

It was way back in 2011 that City Council blessed the 416 Congress “sliver hotel” only for the project to stagnate and never get off the ground.

However, the project has just been resubmitted, keeping it in play, and it remains unchanged from the 2011 vision. That plan call for a 26-story, 130-room hotel and restaurant behind a small 120-year-old Congress Avenue building (the entire structure, other than the front façade, will be demolished).

416 Congress - rendering
416 Congress – rendering Dick Clark Architecture

Proposed Kimber Modern Rainey loses the Kimber

The Kimber Modern Rainey hotel, slated to be a 30-room boutique hotel, in the Rainey Street District is at risk after mastermind Kimber Cavendish told local media she is out.

Located near the corner of River St @ East Ave, and with CBD zoning in place it’s an attractive development site.  There’s an indication in the report about the project’s moving forward with a different brand and vision.  Stay tuned.

Rendering of new Kimber Modern coming to Rainey Street district [source: Burton Baldridge]
Rendering of new Kimber Modern coming to Rainey Street district [source: Burton Baldridge]

SXSW guru’s company picks up downtown parcel unhindered by Capitol View Corridor

SXSW executive Roland Swenson’s development company — CZ Properties — picked up an acre parcel next to the State Capitol at 1400 Lavaca Street, according to new reports.

The property, which is just under an acre and currently includes a two-story building occupied by the Texas Restaurant Association, could be developed into something much more.

SXSW has remained tight-lipped other than to say it will be overflow office space. But I’d lay a small bet that an announcement will coincide in some way with the SXSW 30th anniversary (next year) if Swenson is planning to develop the spot.

SXSW secures land northwest of the State Capitol
SXSW secures land northwest of the State Capitol

Filed Under: downtown austin

The Independent

The Independent Austin

Location of The Independent
Location of The Independent, showing proximity to Seaholm and Austin Central Library

 

Proposed as condos in downtown Austin’s Seaholm District, The Independent is located at the northeast corner of 3rd Street and West Avenue, catty-corner to the Seaholm Condos.  Early signals have the building topping out at 60 stories.  If built, that would make The Independent the tallest building in Austin, Texas.  The building’s orientation and proximity to Lady Bird Lake will provide that several residences will have “protected views” of the lake and Hill Country.

The developer, Constructive Ventures, is responsible for Spring Condos and Barton Place, and several smaller projects in East Austin.

Summary of what we know:

  • Number of dwellings = 400 (1, 2, 3, 4+ penthouse)
  • Number of stories = 60 (tbd.)
  • Pricing = $300,000 to $4,000,000+
  • Amenities include: 24 hour concierge, dog grooming, pool, gym
Architectural model by Rhode Partnes
Architectural model by Rhode Partners

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