Novare, the developer of 360 and the firm behind the recent acquisition of the downtown post office site, has announced plans for another downtown Austin apartment project. The new 23-story tower will rise in the rapidly transforming Rainey Street neighborhood on a long-narrow site directly east of Milago and north of Legacy on Town Lake. The…
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Austin real estate news combined with editorial and opinion.
Exclusive: November and December Sales Set New Records!
We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for November and December, 2011, and our seasonally neutral 12-month tracking index set four new records in each of the two months. With November and December sales included, the 12-month tracking index set records for the highest $/square foot ($329), average sales price ($388,157), and % of list…
More Lady Bird Lake Improvements Planned
Lady Bird Lake may be the most-prized downtown destination. This week, a new grant was announced that will further improve the South Shore of the lake. The American Institute of Architects will contribute as much as $200,000 to improve the South shore of the lake. According to the Austin Business Journal, “The areas around Lady…
USPS: No More Downtown Post Office
Last month, the U.S. Postal Service announced that it had come to agreement with Novare Group — the developer of 360 — to sell the current downtown post office site and to relocate the post office in early 2013. Novare is looking at building a new high-rise development on the current low-rise site. Now, the U.S….
Sabine: the Next “Great Street”
Austin’s great streets program has transformed second street into a prime downtown hub with wide sidewalks, rich landscaping, public art, controlled traffic, and crowded street cafes. Today, second street is a key destination for residents, tourists, and other visitors to downtown. With the Waller Creek tunnel eliminating the flood plain on the East end of…
NPR: Austin Too Expensive for Musicians
It’s a fact: Austin is getting more expensive. Especially for renters, the cost of living here is just going up and up. When the economics of urban living change, the social composition can change as well. Unfortunately for Austin, many musicians are being priced out of the Austin market. According to NPR, “Austin is one…