New plans were announced today for the most controversial project in downtown Austin: the 1,000+ room $250 million Marriott superplex on 2nd and Congress. The project, best known for displacing La Manitas, has been reconfigured to include higher-end brand hotels and fewer, taller “buildings”. As far as we can tell, the 31-story project still does…
The Strong Austin Home Market
Interest rates keep going up. Sub-prime lending has been cut back. The rest of the country is watching housing values drop. In Austin, however, it’s a very different story.May real estate statistics were released today and the numbers show a surprisingly strong market. According to the Office of Federal Housing Enterprise Oversight, housing prices in…
The Million Dollar Austin Condo Market
How big is the market for million dollar condos in downtown Austin? Developers are betting that hundreds of buyers are willing to invest $1 million or more on high end units in projects like the Austonian , 21 c, the Four Seasons Residences , and in the condos at the
Strong Job Growth = Price Appreciation
It’s no secret that housing prices are strongly correlated with employment growth. Demand for homes increases when jobs are created and this demand pushes housing prices up. It’s no the only factor — interest rates are very important as well. But, all things created equal, when new jobs come to town, housing prices go up.Today,…
East Avenue: $750M Development Near Downtown
A lot of money is being spent on downtown development — more than $2 billion in condo projects alone at last count. And while it is technically outside of downtown, it seems another $750 million mixed use development is about to break ground. The project will develop 2.75 million square feet across 22 prime central…
21C Museum-Hotel-Condo: Major New Downtown Project Announced
A Kentucky-based developer announced plans for a unique 44-story tower on a prime downtown lot today. The $200M project, “21c Austin” will combine a private contemporary art museum, condos, and a boutique hotel run under the 21c brand. The project is based on the 21c Louisville, which is the top-rated hotel in the city of…