We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for November, 2009 and, for the sixth month in a row, MLS sales volumes have increased in comparison to previous year numbers. On a per square foot basis, year-to-date prices are down about 5% over the comparable 2008 numbers. Month Sales Avg. Price $/SF Avg SF Avg Year…
New 27-Story Condo/Office Project Announced!
For the first time in a very long time, a developer has announced plans to construct a new 27-story downtown condo and office tower. The developer is proposing to build a tower of up to 350 feet on the vacant lot between Whole Foods and Austin City Lofts. The announcement is a clear sign that…
$200M Project Approved for South Shore of Ladybird Lake
The Austin City Council granted final approval for the $200 million Grayco Lakeshore development on the South sure of Ladybird Lake just east of I-35. In exchange for approving the development of the first four buildings, the Council required the developer to contribute $3.1 million to support affordable housing. The massive project will include as…
Sabine & Star Riverside Posted for Foreclosure
Two troubled downtown condo projects — Sabine & Star Riverside — have run into financial problems and been posted for foreclosure. The failure of these projects is a combination of market conditions and their own troubled history. The Sabine is a troubled 10-story office building conversion project at Sabine and West Fifth streets that was completed in 2007….
Analysis: Understanding The Density Decision
This is an important week for the future of downtown development. Over the last few years, the City has advocated dense downtown development as an alternative to suburban sprawl, traffic, and high infrastructure costs. On December 17, the Austin City Council is scheduled to vote on proposals to require developers to provide community benefits such…
Austin: #1 For Being Ranked on Lists
Austin is no longer a well-kept secret. It seems that hardly a week goes by where Austin does make a list of the top places to live or work or bike or to be indoors or to be outdoors or just about anything else that can be listed. So, thanks to Sam Thacker who created…