Congress Avenue was always meant to be the heart of Austin. Over the last 40 years, it’s destiny as a retail center seems to have slowly slipped away. When the new Marriott replaces Tesoros Trading Company, very little retail will remain. Today, however, Patagonia — the upscale outdoor clothing company — announced that it will…
Who is Buying Downtown: 5 Statistics that Summarize Downtown Condo Demographics
Who is buying all of the new downtown condos? A recent survey commissioned by the Downtown Austin Alliance and conducted by Charles Heimsath, president of Capitol Market Research, sheds new light on this very important question. The survey reveals five interesting facts about downtown Austin Condo buyers: 1. Only 13% of buyers are buying for…
21c Condo Project Magically Relocated to Waller Creek
In a highly unusual move, developers of the 44-story 21c hotel and condo development have abandoned the planned third and Brazos project in favor of a new multi-building complex to be located a few blocks East on Waller Creek. The new project, also to be named 21c, will first include a 16-story hotel with 243…
2008 State of the Market: Updated Condo Sales Statistics
There is much speculation about the state of the Austin condo market. With lots of new projects, a national housing crisis, and no precedent for high-rise development in downtown Austin, the common wisdom is that all the new projects will fail. With the revitalization of downtown, the rapid growth of the city, the strong local…
Austin Hike & Bike Trail to be Extended
The Austin City Council took a first step today to extend the much-loved Hike and Bike Trail surrounding Lady Bird lake to close the gap between Congress Avenue and I-35 on the south side of the lake. Currently, hikers, bikers, runners, walkers, and other trail-goers must brave the shoulders of riverside drive for more than…
Great News: Austin Home Prices up 0.33%!
If you’ve owned a house in Austin over the last year, I am pleased to announce that you are 0.33% richer based on the new value of your home. Between February, 2007 and February, 2008, the average single family house in Austin is up 1/3 of a percent to $233,015. While this may not seem…