While it’s not our primary focus, there are plenty of interesting condo developments rising outside of downtown Austin. In the portion of East Austin, close to 6th street and within a mile of I-35, a number of affordable, interesting mid-rise projects have risen over the last couple of years. Today, the 4-floor 60-unit 2124 Condos…
Austin’s Unique Urban Employment Core
Austin Contrarian discovered a very interesting report on “job sprawl” in major metropolitan areas. The report looks at 98 major metropolitan areas and tracks job decentralization — the increasing percentage of jobs located more than 3 miles from the urban core. According to the report, 95 of 98 cities, including Austin, saw the percentage of jobs located outside…
WSJ: Austin Apartment Vacancy Surges
The Wall Street Journal is reporting that Austin experienced one of the largest increases in apartment vacancy rates last quarter among major metropolitan areas. The vacancy rate, which jumped to 9.2% from 7.5%, is both high and rapidly growing — a major problem for landlords and apartment developers. The problem with the rental market is…
Federal Courthouse to be Constructed by Republic Square Park
Thanks to the Federal stimulus package, a controversial Federal courthouse will be constructed on the west side of Republic Square Park in the heart of downtown. The $116 million project will be constructed on the former Intel site. Earlier in the decade, the city pushed the feds hard to locate the courthouse on the abandoned…
Condo Values by Building: Austintowers Exclusive
When you buy a downtown Austin condo, you are really buying part of a building. The services, staff, amenities, maintenance, location, style, community and construction quality are more important than the particulars of any individual unit. That’s why our listings are organized by building — research shows that buyers first choose a building and then…
Weaker Austin Housing Market May Lead to Tight Future Supply
Angelos Angelou, a local Austin economic guru, commented recently on the long-term effects of the current housing slow down. With tight credit, reduced transaction volume, and a slight dip in housing prices, builders have reacted by dramatically cutting the number of new housing units under development. From 2007 to 2008, Austin housing started plunged 55%…