With today’s release of March real estate statistics, the Austin market posted its ninth consecutive monthly decline. While the news is mixed, the Austin market — and Texas in general — have fared better than most any other market in the U.S. Still, it’s not like it used to be. While the average sale price…
Seaholm Plan Approved: New Downtown Neighborhood to Emerge in 2011
Last week, the city approved a master plan for the redevelopment of the Seaholm Power Plant site on Cesar Chavez near Lamar. The $117.2 million project, a partnership between the city and Southwest Strategies, will result in a 22-story hotel, 60 condo units, and 180,000 square feet of retail and commercial space. Between the initial…
Austin Foreclosures and Loan Delinquencies
These days, the national mortgage crisis is big news. As home prices drop, delinquencies rise, and foreclosures continue to grow, the national picture remains bleak. In Austin, however, the mortgage crisis is causing much less pain. According to the Wall Street Journal , Austin loan delinquencies are virtually unchanged from the national market peak in the fourth quarter…
Patagonia to Lead Congress Avenue Comeback
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…