While this site focuses on condo development, today’s announcement of a new rental project demonstrates the breadth of downtown development. The project — Legacy@Town Lake — is a 31-story, 187 unit rental project in the Rainey Street district near the Milago off Town Lake. According to the developer, rents are expected to range from $1,330 to…
Town Lake Condo Projects Fuel Opposition
A new group, “savetownlake.org” has been formed and has initiated legal action against the city to fight variances for a variety of condo projects on the banks of Town Lake. Essentially, they want to make sure that the city does not grant variances to allow new projects to build closer to the lake than current…
Maintaining a Quirky Yet Vibrant Downtown
There has been lots of talk about gentrification of central neighborhoods such as south and east austin over the last few years. It seems that central living is in high demand — prices are going up, developers are moving in, and whole swaths of central austin are being gentrified. But no area is being gentrified…
Nokonah Analysis: Part II
Two months ago, Austin Towers initiated a comprehensive unit-by-unit analysis of appreciation in the Nokonah . The Nokonah , A luxury high-rise project completed in 2002, was one of the first successful projects that helped to ignite the current condo boom in downtown Austin. The 11-story project is located at 9th and Lamar just north of Whole Foods and on…
Flipping in Austin?
Changes to the Capital View Corridor
The Capital View Corridor is a unique Austin phenomenon. As part of the downtown master plan, the city has set aside a number of corridors where development is severely restricted. The corridor essentially requires all buildings to be short so that they don’t block views of the capital from a number of predetermined angles. With…