The Statesman reported today on three condo conversion projects currently under way in downtown Austin. All three projects will transform commercial space into new condos. As thousands of residential units are being built in Austin for new residents who want to live and work in downtown. Compared to the boom in condo development, there is…
Nokonah Pricing Analysis: Part I
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 the western border of downtown. When the Nokonah was built, the real…
Barton Springs Project Proposed
While it’s technically out of the downtown radius, Texas American Resources is proposing a 14-story mixed-use project on Barton Springs Rd. between 1st and Lamar and directly across from the Long Center. The building would include 24 condo units atop 86,000 feet of office space and a ground floor restaurant. The site is the former…
Major Austin Towers Site Update
As promised, a new section launched tonight that lists all known “Early Stage” Projects. The new section will include projects that have been announced and do not have enough information for a full profile. Today, the section lists 8 new projects with 2,500 units and total proposed budgets in excess of $1 billion. In addition, two new projects were…
Planning Commission Denies Riverside Variances
Ever since the Hyatt hotel was built on the south shore of Town Lake, neighborhood groups have mobilized to limit development south of the lake. This week, in a marathon planning commission that lasted until 2:30AM, the commission recommended that the city counsel deny variances for two high profile “South Lake” projects . . ….
Affordable Housing Task Force
Over the last year, a city-sponsored Affordable Housing Incentives Task Force has been discussing ways to encourage the development of afordable housing units as part of large scale development projects. The city wants more affordable downtown units, but State law doesn’t allow the city to place affordability requirements on new developments. The purpose of the…
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