AUSTIN | Misc. Discussions - No Politics - Page 192

IluvATX · #**3821** Posted **Apr 24, 2024, 1:59 PM**

Quote:

Originally Posted by the Genral

https://www.fox7austin.com/news/mr-d...n-austin-texas

Pretty cool. I hope to see more of this on other blank walls.

urbancore · #**3822** Posted **Apr 24, 2024, 3:44 PM**

Quote:

Originally Posted by IluvATX

Pretty cool. I hope to see more of this on other blank walls.

big fan of art on blank walls....just not this art

Jdawgboy · #**3823** Posted **Apr 24, 2024, 4:21 PM**

I love that mural actually. There's so much going on. It's one of those murals where I see something new every time I stop to look at it. There's a story smashed up in the mural, trying to figure it out is a lot of fun.

I have noticed more murals around the central core and I was wondering if there has been some city council action in having more murals done around the city. I love it! Keep it coming!.

davidtexan · #**3824** Posted **Apr 26, 2024, 11:33 PM**

Unbarlievable is closing this weekend. No idea if this means a new bar will take over the existing space, or if something bigger is in the works. They are sandwiched in an awkward spot between Paseo and 70 Rainey.

https://www.instagram.com/p/C6PdFcQODKU

The ATX · #**3825** Posted **Apr 27, 2024, 7:29 AM**

Quote:

Originally Posted by davidtexan

Unbarlievable is closing this weekend. No idea if this means a new bar will take over the existing space, or if something bigger is in the works. They are sandwiched in an awkward spot between Paseo and 70 Rainey.

https://www.instagram.com/p/C6PdFcQODKU

The owner has been planning to Demo it and rebuild a larger two-story bar called Palace Laundry since 2021. But the project was getting some push back from the HLC. Although the site plan is still not approved, a Demo permit has been approved.

paul78701 · #**3826** Posted **Apr 27, 2024, 2:10 PM**

Quote:

Originally Posted by The ATX

The owner has been planning to Demo it and rebuild a larger two-story bar called Palace Laundry since 2021. But the project was getting some push back from the HLC. Although the site plan is still not approved, a Demo permit has been approved.

You're thinking of the Placeholder bar that has been closed for a while now.

However, I wouldn't be surprised if the Unbarlievable site would also be demolished in favor of rebuilding a multi-story bar either.

SproutingTowers · #**3827** Posted **Apr 30, 2024, 3:19 PM**

Subversive spa coming to Austin

https://www.fastcompany.com/91114065...ture-in-austin

gillynova · #**3828** Posted **Apr 30, 2024, 3:43 PM**

Quote:

Originally Posted by SproutingTowers

Subversive spa coming to Austin

https://www.fastcompany.com/91114065...ture-in-austin

REALLY looking forward to this. They have crazy visual arts all the time

Green Country · #**3829** Posted **Yesterday, 4:56 PM**

Per Cushman & Wakefield, at 4th Q 2023, the metro multifamily occupancy was 88.92%, down from 90.33% at 3rd Q 2023. CBD multifamily occupancy stood at 89.32%, an uptick from 3rd Q's 88.43%.

In the CBD, 326 units were absorbed in CY 2023 (83 absorbed in 4th Q). During that same time, 329 units were delivered to the market (31 delivered in 4th Q). There are currently 6,244 units in the CBD, with 3,299 units currently under construction; a 53% increase in supply. W

The ATX · #**3830** Posted **Yesterday, 6:13 PM**

...and average rent has dropped close to 5% YOY. Keep building because the people keep moving here.

GoldenBoot · #**3831** Posted **Yesterday, 6:37 PM**

^^^Maybe for apartments. But, for homes, it's roughly the same as it was in the summer of 2022. Taxes and HOA fees continue to rise, thus, home rental rates have not changed much (if any).

Green Country · #**3832** Posted **Yesterday, 8:33 PM**

Quote:

Originally Posted by The ATX

...and average rent has dropped close to 5% YOY. Keep building because the people keep moving here.

Per the Cushman Wakefield report, Year over Year effective rent "growth" was -8.15% metro-wide and -7.92% for the CBD.

To add more metro info, metro-wide, 6,500 units were absorbed during 2023. 15,781 new units were delivered to the market, and another 50,517 are under construction. (Current total inventory is 251,145.)

ILUVSAT · #**3833** Posted **Yesterday, 9:11 PM**

Quote:

Originally Posted by Green Country

Per the Cushman Wakefield report, Year over Year effective rent "growth" was -8.15% metro-wide and -7.92% for the CBD.

To add more metro info, metro-wide, 6,500 units were absorbed during 2023. 15,781 new units were delivered to the market, and another 50,517 are under construction. (Current total inventory is 251,145.)

In regard to the multifamily market:

Vacancy Trends Q12024

"At 14.7 percent, Austin leads the nation for highest vacancy, with a rate nearly double the national average of 8 percent.

A top destination for renters moving during the pandemic, Austin saw this demand boom quickly followed by a flurry of new construction. In recent years, demand has cooled as a record number of units have been delivered.

When adjusted for population size, the number of deliveries in this market has been among the highest in the nation. For example, absolute deliveries for Austin in 2023 exceeded those for Atlanta, another oversupplied market, despite the Georgia metro having three times the population of Austin.

Not only does Austin top the list for highest vacancy this quarter, it’s also seen the greatest decline in asking rent among all major markets. Swamped by excess supply, Austin has been struggling with negative rent growth since the second quarter of 2023. At an estimated negative 5.8 percent, rent growth for the first quarter of 2024 is expected to remain in the red, but rent growth in the ATX metro will return to positive territory by the end of 2024, according to CoStar forecasts."

Riverranchdrone · #**3834** Posted **Today, 1:28 AM**

Like ATX said, Keep on building. People are moving here and the Prices are trending back to near normal pricing options. We still got a long ways to go to be over supplied.