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Austin Maps

udpated map of Downtown Austin buildings
Official map of Downtown Austin Blog

I spend most of my time downtown and take for granted that not everyone knows where everything is. It’s helpful to have a bird’s-eye-view of Downtown Austin’s condos, apartments, and small businesses. I’ve mashed up the data I collected when counting the number of dwellings in Downtown Austin with the street address of every condo and apartment counted. You’ll find many of the less well known apartments included. A handful of local businesses that I regularly visit are included, too.

This map will be perpetually evolving. Let me know if I’ve missed something, or if you have something you’d like me to add.

-Jude

5 Fifty Five (555)

The 5 Fifty Five was constructed in 2003 along with the Hilton Hotel.  Often referred to as the “Hilton Condos,” the residences are very well finished and not at all similar to the lofts across the street. The lobby of the Hilton is very grand and it is easy to understand the desire to live in the same building. The residences are completely separate from the hotel rooms.The neighborhood surrounding the hotel and the residences is maturing. Across the street is Brush Square Park. The first stop on Austin’s Metro Rail is catty-corner to the building.

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Brazos Place

800 Brazos St, Austin, TX 78701

Brazos Place was originally built in 1948 as the 14 story Commodore Perry Hotel. In 1984 the building was converted into offices and renamed One Commodore Plaza. It’s rebirth into 72 residential condominiums was complete in 2008. The location of Brazos Place is unique in that sits between the Texas State Capitol, 6th Street Entertainment District, and Congress Ave. Prices have ranged from 250s to 1.5MM.At the base of the condominium a massive lobby welcomes guests. There is a 24 hour concierge and valet parking. While not true lofts, the architecture includes stylized elements such as exposed duct work and concrete floors.

Brazos Place Condos’ HOA rules are exceptionally valuable to owners and investors by permitting lease terms as short as one-month in duration. This flexibility is very unique compared to most downtown Austin high rises which require leases to be at least 6-12 months long. This flexibility enables owners to host corporate/executive rentals.

Lobby of Brazos Place condos

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The Shore Condos Battle Developer AND Villas On Town Lake

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The rumble on Rainey Street… it’s a clash of the condos!

Like most condominiums, The Shore Condos are controlled by its home owners association (HOA).  Like several condominiums in downtown Austin, The Shore Condos are actually a sub-association of a more senior association.  In this case, The Shore Condos are the “residential unit” and one half of a master association called the Waterfront Master Condominium Association, Inc.   The other half is a “hotel unit” – ostensibly setup as the place holder for the Hotel Van Zandt (and may still be).

In 2005 High Street Rainey, LP purchased Lot 1, Red River Addition, from Sack Family Holding, Ltd (the “Waterfront Property”).  In 2006 High Street Rainey, LP created the Waterfront Master Condominium Association, Inc.  Prior to that, when the Villas On Town Lake’s land was originally deeded, the seller withheld a 50 x 50 right-of-way easement where Red River meets Davis St in order to provide access to the south of Davis Street in perpetuity.

In 2007 High Street Rainey LP + JMIR-Austin Hotel, LP + The Waterfront Master Condominium Association, Inc. sued the Villas On Town Lake Owners Association, Inc for encroaching on that easement.  Note that at this point in the story, the “residential unit”, aka the Shore Condominium HOA is not named in the lawsuit.  In fact, the “residential unit” wouldn’t learn about this lawsuit until recently.

As best as we can figure out, the Villas decided this easement could be used to locate a dumpster.  The developer of The Shore, who by right also has use of the 50 x 50 easement, removed the dumpster and the parties sued each other.  In 2008 the parties reach a written settlement agreement, but for reasons unknown this agreement wasn’t actually executed.  Earlier this month, the Villas filed a motion to enforce that settlement agreement.

Not so fast.

[youtube = http://www.youtube.com/watch?v=AZPRf8qL8h0]

The Shore Condominium HOA (“residential unit”) legally intervened by filing an objection to the Villas motion to enforce the settlement agreement, on the grounds that any settlement agreement would bind The Shore Condominium HOA to something they weren’t a party to.  So, the Shore HOA wants to put the kibosh on a settlement agreement that could adversely affect their interests.

B-b-b-but wait it gets worse!

The Shore Condos seem to be unclear about how, or if, they are would be bound by the settlement agreement.  The Shore Condominium HOA asserts in a legal filing that:

The Shore Association is not clear on how such terms [re: the settlement agreement] would impact its’ members regarding the easement contemplated.

To the best of our knowledge this is a Mexican standoff.  Since the original parties sued each other, it’s unlikely they will both simultaneously drop all of their claims.  The judge is unlikely to enforce a settlement agreement that would bind a party that was not originally part of that agreement.

Friggin’ dumpsters.

Waller Creek Meeting Notes

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Waller Creek District Master Plan - Land Use

At last night’s WCCAC meeting:

Downtown Austin’s Waller Creek District and tunnel project continues to get more interesting.  At last night’s meeting of the Waller Creek Citizens Advisory Committee we covered a lot of ground.

1) 21c developer, Poe Companies, updated us on the status of the project.  They’re actively pursuing stakeholder input, so I’m comfortable saying that this the only new residential project in downtown Austin that still has legs.  The site plan calls for three structures: 1) apartments 2) hotel 3) future site tbd.  The condos are out, for now, but could be built on the future site.  The current focus is a 31 story, 350 unit apartment tower at the southwest corner of Red River and Cesar Chavez.  The tower would provide 400,000 inhabitable square feet with target lease rates from $1.50-2.50 per foot.  Steve Poe anticipated a unit mix of 70% 1bd/1ba.  They are volunteering 10% of the units to meet affordable housing standards (80% MFI), although they are not required to provide any.  There will also be ~10 artist studios facing the creek.  It’s unknown how these units will be priced.  When asked about quality of construction, we were guided to look at AMLI on 2nd as a comparison.  This proposed downtown Austin apartment tower is fully entitled (needs no variances), and the only hurdle is locking in the funding, which they are seeking a substantial portion of through the HUD 211(s)(4) loan program for multi-family development.

The hotel concept would be located closer to the corner of Davis St and Red River.  It would have have 200-250 keys spread across 12 stories and 225,000 inhabitable feet.  In the near term, the hotel is less certain to be built than the apartment tower, as it is more challenging to find financing for a hotel – I find this ironic given that Austin has a shortage of hotels and [some would argue] a surplus of apartments.  Such is the state of the financial markets.

After several years of tunnel planning work, this is the first project to come before the WCCAC.  The development team seems to be very progressive and in tune with the Waller Creek District Master Plan.  They understand the importance of public space and improving public connections from Red River into Waller Creek trails.  The earliest the project could begin is mid-2010, and I’m optimistic they will obtain their funding.

One of the most important questions you’ll see asked of every project that comes before the WCCAC is the estimated contribution to the TIF.  The $120MM bond that pays for the tunnel improvements is paid back through the incremental increase in ad-valorem taxes along the creek.  21c estimated that it would generate $1MM per year ($20MM over twenty years), to repayment of the bond.

2) A summary of the Waller Creek District Draft Development Standards were presented by city staff.  This is a set of guidelines to reinforce the vision for Waller Creek as identified in the master plan.  Sub-districts are defined which spell out appropriate design for each sub-district.  These rules could be codified into law within the next 6-9 months.  It’s good that we’re establishing these guidelines now.  City council could potentially allow development to begin along the creek on a case-by-case basis by providing variances from building in the floodplain prior to completion of the tunnel.  Depending on the timing of adopting these development standards, the 21c project may/may not be subject to them.

3) The WCCAC has been trying to find a way to assure world-class design standards along the creek while working within the legal constraints of the city’s procurement processes. Currently, the city will hire a firm capable of delivering a product.  THEN they seek input to design the product.  The city hires the firm before knowing what the final design looks like.  This process precludes “design competitions”, but the WCCAC has a much better understanding of how and to deliver aesthetic design input.  With enough lead time, a private sector “design competition” could occur such that the winner’s concept is delivered to the firm hired by the City, via the WCCAC.

-Jude

21c Museum/hotel
Waller Creek District