2009 was a tough year for job creation in the United States. Since job creation drives home prices, the 2009 job losses are likely to leave a lasting impact. How lasting? Economists estimate that it may take the United Stated 125 months (10+ years) to fully recover the jobs lost during the great recession of…
News
Austin real estate news combined with editorial and opinion.
Sabine Auction Update
As we reported last month, 27 of the 44 long-vacant units remaining in the Sabine are finally headed to auction on February 28th. The auction is a last hope for the project which is currently facing foreclosure. According to the Austin Business Journal, “Beverly Hills-based auctioneer Kennedy Wilson will sell-off 27 of the available 44 units…
Waller Creek Tunnel Project Advances
On Thursday, City of Austin officials approved eminent domain proceedings to reclaim a parking lot between 4th and 5th street that is required to begin the Waller Creek tunnel project. The half-block property is essential to development of the mammoth downtown tunnel project. According to officials, it is needed for two tunnel easements, one temporary…
Downtown Rail Service to Start in March
After what seems like endless series of problems and delays, Cap Metro has announced that light rail service will begin in March. Service was originally scheduled to commence on March 30, 2009. MetroRail will run from downtown to Leaner with stops for Lakeline, Howard, Kramer, Crestview, Highland, MLK, Jr., and Plaza Saltillo. The full 32…
Austonian Dismantles Crane, Throws Party
Over the last few weeks, the Austonian has been slowly dismantling its crane, signaling the beginning of the final phase of construction. With the exterior shell complete and the elevators now fully functional, the Austonian invited hundreds of guests to a private party on the the top three floors of the tower last Friday night. From…
Update: New Central Library Progress
The City of Austin has more residents than the cities of Boston (although the Austin MSA is smaller than the Boston metropolitan area), Seattle and Nashville. Austin’s central library is 110,000 square feet – 1/5 the size of Boston’s main library, 1/3 of Nashville’s, and 1/5 of Seattle’s. The Austin central library seats 300 people…