This past week, the Austin City Council essentially gave away the iconic, historic Seaholm Power Plant building to developers for the construction of commercial office space that will almost entirely be off limits to the public. As Ken Altes, a founder of a group called the Friends of Seaholm, eloquently summarized at the City Council…
News
Austin real estate news combined with editorial and opinion.
47-Story “Planetarium” Tower Proposed Near Capital
A new development partnership is proposing a 47-story condo tower, science museum, and planetarium for a site just north of the Capital. The site, which is not limited by capital view corridor restrictions, is owned by the State and part of a program to develop under-developed state-owned lots. The project is a proposal and had…
Strange Trends in Downtown Condo Sales
During the first 3 months of this year, 32 units were sold in Spring and the 3 major luxury projects: the Austonian, W Residences, and the Four Seasons. Across all four projects, the average sales price was an amazingly high $952,000. Now, just 221 new condo units remain downtown — almost all in the Austonian,…
Prime Downtown Statesman Site for Sale?
While the newspaper industry continues to struggle, the Austin American Statesman has a very valuable asset: the land under it’s offices and printing facility. The Statesman building sits on one of the most valuable downtown real estate parcels: 18.9 acres of lakefront land on South Congress Avenue across from downtown. The site also boasts a…
Austin: The Fastest Growing City
If it feels like a zillion people are moving to Austin, it is because it is true. A recently published analysis of the rate of migration for the top 40 cities shows that Austin is going at roughly twice the rate of the second fastest city in the U.S. (Tampa). And while Austin is leading…
Two More 50-Story Towers Proposed
It’s starting to feel like 2007 again. It’s been five years since good economic times resulted in a wave of development that resulted in projects such as the Austonian, Four Seasons Residences, the Monarch, and Spring. In 2007, it seems that a new project was announced every couple of weeks. That’s exactly what is happening…