AUSTIN | Projects & Construction II

[swollpatrol]

People that join this forum are interested in a community that actually offers pertinent information for prospective buyers or investors. That's why I'm here, I lurked for months before finally posting about my purchase. The information that others have offered have been very helpful in allowing me to be prepared for the sales process.

If anyone is here under false pretenses, it could be you LookingUp... I've read many of your posts of pragmatism and to be honest it sounds alot like the video presentation I saw at New Century Living's website. After watching, one can't help but wonder if you're associated with this "vaporware" company...

Originally Posted by LookingUp

There sure are a lot of Noare people flooding this Forum. Notice how many have joined in the last 3 months.

Why not just let the marketing happen? Let the buyers decide. This charade is way too obvious.

[crewer]

I see Mueller has announced their Pioneer Plan developers. I guess I was expecting more row houses to choose from, but most are garden style. They're all pretty much a throwback to the craftsman style homes. Not bad.

I had to dig for pricing. It's kind of odd that they would expect people to complete the pre-qualification papers and submit the other forms without being completely clear exactly how much each model was going for. I came across a few ranges with the row houses starting in the low $200,000s and the houses probably more in the 300's and up for the narrower lots, and the $480,000 and up for the 55' lots.

Guess I'm not surprised at the prices.

[AustinGuy]

Originally Posted by crewer

I had to dig for pricing. It's kind of odd that they would expect people to complete the pre-qualification papers and submit the other forms without being completely clear exactly how much each model was going for. I came across a few ranges with the row houses starting in the low $200,000s and the houses probably more in the 300's and up for the narrower lots, and the $480,000 and up for the 55' lots.

Did you find pricing information on the exact plans? It seems strange that they make you pick a builder and a model without knowing the price of that plan.

[crewer]

Originally Posted by AustinGuy

Did you find pricing information on the exact plans? It seems strange that they make you pick a builder and a model without knowing the price of that plan.

No. It's bizarre how they set this up. To get any sense of pricing, you need to click the link for the builder, click on one of the model images, click the builder's home page link in the column to the right, fish around the builder's website to find the reference to Mueller, click that link and scroll around to find the ranges.

What's really strange is that you have no idea where on the map these homes are to be built. I was actually considering submitting a reservation for one, but this is pretty lame. I had expected better marketing than this.

[crewer]

Our forum discussions have dealt almost exclusively on condo projects going up and the changing dynamics and skyline of downtown Austin. That's all great. But this euphoric attitude about living in a downtown high rise goes on with little discussion of the reality of high rise living. Everyone wants to get in on a condo in the sky with a great view and in the heart of downtown, but surely you've considered the other sides to it.

For those of you who are currently living in a downtown high rise, or have reserved your condo in the 360, I'd like to find out from you what convinced you to do that. What do you perceive as being the advantages to downtown living.

At the same time, what concerns do you have in the back of your mind? Were there issues that made it a little difficult for you to sign on the line when reserving or purchasing your unit?

[MichaelB]

Originally Posted by crewer

Our forum discussions have dealt almost exclusively on condo projects going up and the changing dynamics and skyline of downtown Austin. That's all great. But this euphoric attitude about living in a downtown high rise goes on with little discussion of the reality of high rise living. Everyone wants to get in on a condo in the sky with a great view and in the heart of downtown, but surely you've considered the other sides to it.

For those of you who are currently living in a downtown high rise, or have reserved your condo in the 360, I'd like to find out from you what convinced you to do that. What do you perceive as being the advantages to downtown living.

At the same time, what concerns do you have in the back of your mind? Were there issues that made it a little difficult for you to sign on the line when reserving or purchasing your unit?

I have been living on the north end of downtown for 5 years. Cambridge Towers. I teach at UT and work by the river so it was a great location. The capacity to walk downtown and the university area was a plus. I was drawn to codo living for many reasons: Bang for the buck; felt I got more for the money even with condo fees. Location; could no longer stand the idea of getting into a car to get coffee or a newspaper, much less food, entertainment,work, etc. Maintence: no yard to cut, no house to paint.....did I mention the garage attendent and the 24 hr door person.The inhouse maintinece staff is incredible. Security:I (both of us) travel a great deal so the idea of a reasonably secure situation was also of great benefit.

Drawbacks: community decissions. While many folks think Cambridge is a retirement home. It is not. It;s just that it was the only highrise for so long.....all the urban dwellers of 20 years ago moved in here and never left. It sounds awful, but so many times to only way a place comes open is when someone dies or is moved to a nursing home. (The later is how we got our place. 7th floor corner unit wiht a Capitol view. ) The problem is the older voting block that can make some decissions we aren't fond of. Nothing major yet.....a few aesthetic choices..... still can't have dogs here..... that's the next big hurdle. Conflicts with businesses on the first floor has provided the biggest headache for the Association.

We are considering looking at one of the new towers in a few years. One of the biggest concerns for me before signing was the health of the reserves of the building. Cambrigde was very established in terms of reserves and the solid construction of the building. I think it is important to find out how that might playout over the first 5 years of a new building..... especially at the point where the developer is no longer liable for the building. Can anyone shed light?

[StoOgE]

As a condo owner, things that arent fun:

1) Hardwood floors everywhere.. the guy upstairs is HUGE (as in bodybuilder) and I can hear him walking at night. You can also hear plumbing noises... since its all interconnected

2) No yard. I know it doesnt seem like a big deal, but it will nag at you.

3) Having neighboors and being considerate at all times is crucial. You might want to watch your DVD and crank the surround sound.. but you cant if you dont want to be "that guy".

4) HOA decisions.. some good some bad, but you have to stick by them. My HOA recently decided it would be cool if people stored their boats in our parking area... there is now nowhere to park because of boats.

5) Nosey people. Yes, there are people who will want to know everything about whats going on. Most of the poeple are nice.. but you dont need to know "who that new girl is".

6) Dogs: Either way its a problem. We can have dogs, and Im happy because I couldnt imagine not having my dog... but then there are other peoples dogs... one of them runs around unattended all the time, another one barks all the time. Im sure mind does to when Im not home. The other option is not having pets.. which could be a huge drawback to some as well.

In my case, I live in a part of town where I have easy access to my car AND can walk to alot of places.. those of you moving in a high rise are going to have the added hassle of going to get your car.

There are a ton of plusses, and I love my condo.. but its not like owning a house, and there are a ton of tradeoffs.

[MichaelB]

and speaking of downtown condos..... I saw an add in the Sunday paper for "The Sabine" on 5th street. Any info out there? I went to the website.... no address, but it looked like it might be a conversion of the building on 5th and Sabine that faces Waller creek. Any info?

[AustinGuy]

Originally Posted by MichaelB

and speaking of downtown condos..... I saw an add in the Sunday paper for "The Sabine" on 5th street. Any info out there? I went to the website.... no address, but it looked like it might be a conversion of the building on 5th and Sabine that faces Waller creek. Any info?

No info, but I suspect you're right. If this market holds up, we are going to see a lot more conversions in and around downtown/central Austin. I was living in West LA for a year for work during their housing boom, and apartment building after apartment building got condo converted and sold off unit by unit.

[crewer]

Originally Posted by AustinGuy

No info, but I suspect you're right. If this market holds up, we are going to see a lot more conversions in and around downtown/central Austin. I was living in West LA for a year for work during their housing boom, and apartment building after apartment building got condo converted and sold off unit by unit.

That was going on here for awhile, then the market shifted almost overnight. Buildings that were converting had to convert back.

By the way, guys. Keep informed about the rising subprime mortgage crisis. We have problems ahead of us that could put the brakes on prospective buyers being able to purchase high dollar real estate.

[Kevinb]

[QUOTE=LookingUp;2667701]

Originally Posted by meljoe

There sure are a lot of Noare people flooding this Forum. Notice how many have joined in the last 3 months.

Why not just let the marketing happen? Let the buyers decide. This charade is way too obvious.

I found this forum once I started doing Buyer's research on The Spring and 360 condos. If there has been a flood of new members it could be related to the "flood" of new developments, and increased interest in downtown condos.

Any speculation on retail tenants at 360? Here is the ground level plan from the HOA docs:

http://img211.imageshack.us/img211/2580/360retailuz2.jpg

The sales office is saying there will be two restaurants. any other rumors about the spaces?

[crewer]

Prices have now been posted on the Mueller website for homes. Check it out.

[Mopacs]

Originally Posted by crewer

Prices have now been posted on the Mueller website for homes. Check it out.

Wow, the prices overall seem very affordable for such a central location. The yard home prices are comparable to what you would find as far out as Cedar Park. Of course those are the low-end of the prices, but I'm encouraged. Demand is going to be intense.

[AustinGuy]

Originally Posted by Mopacs

Wow, the prices overall seem very affordable for such a central location. The yard home prices are comparable to what you would find as far out as Cedar Park. Of course those are the low-end of the prices, but I'm encouraged. Demand is going to be intense.

Are they still planning on building interior retail with walkable restaurants and shops in this neighborhood? I have to admit that I'm not encouraged by the look of the hospital and the new strip mall shopping along I-35, but the house plans with the alley facing garages seems good.

[Mopacs]

Originally Posted by AustinGuy

Are they still planning on building interior retail with walkable restaurants and shops in this neighborhood? I have to admit that I'm not encouraged by the look of the hospital and the new strip mall shopping along I-35, but the house plans with the alley facing garages seems good.

Absolutely... There is a more traditional "town center" development planned just to the south and east of the existing Power Center, closer to Airport Blvd.

According to the Mueller Austin website:

Mueller’s Town Center is the heart of the urban village, a mixed-use destination that gives life to the community and attracts people from throughout the city. The Town Center will be home to retail and services Mueller neighbors need, all within walking distance, as well as to dining, shopping and nightlife.

The Town Center will also be a 24-hour community. It'll offer a new alternative for Austinites who want to live right in the thick of city life. And it will offer a place to work for artists and entrepreneurs, small businesses and larger employers seeking an accessible yet vibrant place to call home.

The town center is located between the Children's Hospital and the Lake Park in this map:

[crewer]

Originally Posted by AustinGuy

Are they still planning on building interior retail with walkable restaurants and shops in this neighborhood? I have to admit that I'm not encouraged by the look of the hospital and the new strip mall shopping along I-35, but the house plans with the alley facing garages seems good.

I believe they have additional developments that will be more pedestrian-friendly and closer to the houses. I agree with you about what has gone up so far. Not impressed at all here.

Regarding the pricing, Mopacs, the prices sound reasonable, but they are certainly higher than the homes surrounding Mueller. The University Hills neighborhood north of 51st is reasonably affordable and cheaper than what Mueller is proposing. The other thing to consider will be the schools in the area. NE Austin schools have had their share of problems. Will that have any influence on families looking to purchase in the area? We'll see. I would think they would want to thoroughly investigate the schools before dropping $300,000 + on a home. But maybe schools will be planned for Mueller. Need more data.

[sakyle04]

I believe they have additional developments that will be more pedestrian-friendly and closer to the houses. I agree with you about what has gone up so far. Not impressed at all here.

Is it safe to say that the dream of a dense, tall, Mueller redevelopment is dying?

[Mopacs]

Originally Posted by crewer

I believe they have additional developments that will be more pedestrian-friendly and closer to the houses. I agree with you about what has gone up so far. Not impressed at all here.

Regarding the pricing, Mopacs, the prices sound reasonable, but they are certainly higher than the homes surrounding Mueller. The University Hills neighborhood north of 51st is reasonably affordable and cheaper than what Mueller is proposing. The other thing to consider will be the schools in the area. NE Austin schools have had their share of problems. Will that have any influence on families looking to purchase in the area? We'll see. I would think they would want to thoroughly investigate the schools before dropping $300,000 + on a home. But maybe schools will be planned for Mueller. Need more data.

Hmm... that is interesting. I suppose crime levels (or perceptions thereof) have some effect on the pricing in those areas, particularly farther north across US 290E in the St Johns neighborhood. However, there are some very nice homes in the vicinity of Berkman and Clayton Lanes, immediately to the north of Mueller.

As for schools, my understanding is that land has been set aside for an Elementary School within the Mueller development.

[crewer]

Originally Posted by sakyle04

Is it safe to say that the dream of a dense, tall, Mueller redevelopment is dying?

Unfortunately, I think that died a long time ago. There will be sections of Mueller that will be denser than the areas where "yard homes" are to be built, but I don't think highrises are planned.

[Mopacs]

Originally Posted by sakyle04

Is it safe to say that the dream of a dense, tall, Mueller redevelopment is dying?

Probably so... though I dont know that Mueller was ever envisioned as a dense, vertical neighborhood. Most of the current and planned residential and commercial developments have been in the 4-5 story range. The best hope for taller structures will be immediately to the north of the Children's Hospital along E51st Street. There have been ongoing plans/proposals for a medical school/research institution (affliated with UT?) in that vicinity. I believe Kevin has said that heights have been capped at aroud 120ft thoughout the development?