The more people that come to Austin, the stronger the downtown condo market. As Austin grows and expands, the value of central living only goes up. As one of the fastest growing cities in the country, this trend is one of the positive factors supporting long-term growth of the downtown population. Today’s news is good…
New Destination Library May be Incorporated into Seaholm Plan
Over the last year, a task force has been working on a plan to create an ambitious new destination library for downtown Austin, This flagship facility would incorporate world class architecture and a prime downtown location to create a dramatic new public space that will be a prime asset for downtown denizens. The big question…
The Beginning of a Congress Avenue Comeback
Prior to 1960, Congress avenue was the center of retail and commerce for the City of Austin. Over the last 5 decades, Congress Avenue has been in a steady state of decline as city residents increasingly looked to suburbs for shopping and commerce. Today, there are only 13 retail business on the prime central stretch…
Seaholm Rezoning Under Way
Over the next decade, the redevelopment of the Seaholm power plant and Green Sewage Treatment Plant will forever transform Austin’s downtown. By reclaiming a dozen blocks in the core of downtown between Lamar and San Antonio, 1st and 3rd streets, these projects will provide a multi-use urban district that connects the second street district to Whole…
For Austin Condo Investors, the Math Doesn’t Add Up
It is a fact: there has not been much investment activity in the downtown Austin condo market. Most of the buyers plan to occupy their units. As we reported last week , this is one of the reasons why Austin is less likely to see a Miami-style bubble explosion anytime soon. There are lots of reasons why investors…
The Scary “B” Word: Will Investors Create a Downtown Austin Condo Bubble?
Much has been written about the condo bubble in southern Florida, especially the dramatic rise and fall of the Miami condo market. Between 2004 and 2006, condos were being snapped up by investors and quickly flipped for a profit long before buildings were completed. As more and more investors joined the fun, condo units would…