Over the last 8 weeks, the downtown condo market has taken a dramatic positive turn. After 20 tough months, buyers have begun snapping up units at a surprisingly strong pace. While the MLS data shows 11 units having sold during May — 2 less than last year — the real story is much more dramatic….
News
Austin real estate news combined with editorial and opinion.
The Worst Condo Project Ever?
Some condo projects are better than others. After reading a story in the New York Times, I can safely say that the worst condo project in the country is not in Austin. For the bargain price of $1,300 per square foot, you could own a piece of the Sheffield57, a 50-story condo conversion project on…
3 Dead in UT-Area Apartment Construction Accident
In a very sad accident, three men died after scaffolding collapsed on the 11th floor of 21 Rio, a 21-story rental apartment complex rising in the West Campus neighborhood near UT. The three men were standing on the scaffolding when part of the platform collapsed. The luxury student apartment complex is scheduled to open later…
Episcopal Church to Develop Downtown Block
The Episcopal Church has purchased the downtown block bounded by Seventh, Eighth, Trinity and Neches streets for $9.5 million. The national church organization plans to spend an additional $40 million to create a new complex to house its national archives. When completed, the building will be as tall as 5 stories with 70,000 square feet…
Austin Leads Nation in Job Growth – AGAIN!
This just in: Austin led the nation’s big city job markets for the third month in a row. In fact, Austin was the ONLY large metropolitan area to add jobs between April 2008 and April 2009. With 3,400 new jobs, Austin employment grew at 0.4% during the period. Since job growth is one of the…
The Ugly Side of Downtown Austin
The shooting of 8 people last Thursday night outside a downtown nightclub was an anomaly for Austin. The terrible incident at Spiros nightclub, however, brought to light the problems that come with the vibrant alcohol-driven nightlife on sixth street and the surrounding blocks. After the incident, the Austin Police Department released an amazing set of…