Less than a year ago, the Austin Museum of Art announced a new project which would combine an 40,000 square foot museum facility with an adjacent 425,000 feet of commercial office space in a new 465,000 square foot project on the AMOA-owned site adjacent to Republic Square Park in the center of downtown Austin. Yesterday,…
News
Austin real estate news combined with editorial and opinion.
New Year’s Eve: 100,000 People Expected Downtown
Austin’s First Night New Year’s Eve celebration is expected to draw 100,000 people downtown for a full day and evening of activities celebrating the arts in Austin. Starting at 3 pm and stretching until fireworks ring in the new year, First Night is Austin’s biggest party of the year. For Austin residents who long for…
Las Manitas Quickly Demolished
No downtown Austin project is more controversial than the mammoth Marriott complex between 2nd and 3rd between Congress and Brazos. The massive and thoroughly unispiring project has many enemies across the city for many reasons. First, the project is large and architecturally mediocre. Second, the project lacks a plan to extend the retail streetscape on…
Downtown Water Treatment Plant Decommissioned, New Neighborhood to Emerge
For those who feel that the heart of downtown Austin is the aging Green water treatment plant, today is a sad day. After 83 years, the Green plant has been decommissioned as a first step to redevelopment of the prime site just north of Ladybird lake. With the removal of the plant, the City begins…
Mortgage Rates Dropping, Treasury Plan Aims to Push Rates Down, Down, Down
Before the economy entered a total nosedive, the first signs of real estate problems began with the credit crunch and out-of-control mortgage rates. Starting 18 months ago, mortgage rates began to spike — especially for jumbo loans over $417,000. Over the last few weeks, mortgage rates have dropped significantly. While jumbo loans are higher, lending…
La Vista on Lavaca is Back: to Proceed With Construction
La Vista on Lavaca, an eight-story residential mixed-use tower consisting of 19 condominiums on the top four floors, a three-floor Executive Business Center, and first floor restaurant, is set to emerge from its construction freeze after months of inactivity. After running into financial problems, the project was halted during a rare mid-construction freeze. Typically, projects…