Nice pics Mopacs, especially the mopac pics. From the look of the amt of traffic you had to be cruising pretty fast, great quality, I've driven and taken pics of various skylines in the past but never did they look so clear, nice.
Nice pics Mopacs, especially the mopac pics. From the look of the amt of traffic you had to be cruising pretty fast, great quality, I've driven and taken pics of various skylines in the past but never did they look so clear, nice.
Thanks for the comments. I was riding shotgun, so I had full use of both hands to shoot Even so, it can be tricky to take clear shots from a moving car.
You're right about the building...I believe that is the parking structure for the office building. Parking garage designs vary, but in many cases you'll find one end of the garage a 'half' level above the other side, with the parking in between on an incline. I suspect that is the case here. Due to environmental/impervious cover restrictions, just about every office building in this area has structured parking.
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Austin.Texas.USA
Home of the 2005 National Champion Texas Longhorns
Great Pics Mopacs but I am actually very upset about that office building going up off S Mopac and 360. It is very VERY close to Barton Creek. Closer than any other the other buildings that have been built in that area. In fact it nearly goes right up to it right on the otherside of the 360 bridge. I don't know how they got the permission to build that close and Im angry at the city for letting them get away with it.
I believe this tract of land was 'grandfathered' as far as development restrictions. This is the case for many of the office developments along Mopac between Barton Springs Rd and 360... They were allowed to develop their land at a higher intensity than is currently allowed, due to previous approvals (prior to SOS ordinance taking effect, etc.).
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Austin.Texas.USA
Home of the 2005 National Champion Texas Longhorns
With all the pics being taken of the construction I'm wondering if anyone is considering doing more of the photoshopped renderings of downtown (like the one's being done several months ago) it would be nice to see varying angles, views, also while I'm at it (heh) it would be nice to see some that show DT with only the ones currently and/or soon to be under construction. Sorry if I sound demanding... but I just can't wait! I know I could get off me arse and learn how to do these works of art, but I barely was lucky enough to figure out how to add my avatar to my label.
Has anybody seen the floorplans? They have both been promising them for more than 6 months, but they're not posted yet. I just keep hearing they are very small.
I did receive additional info on unit pricing. Both will be offered at $300-$400 PSF. While they have advertised units starting at $180k, there will be only a "few" at these prices (lowest floors). As best I can tell the "average" 1-bedroom unit (900 SF) will be offered for $270,000-$360,000.
Wow! Spring has financing! I was always very skeptical about the project, but this is a major hurdle that's been crossed. Let's get that ground turning before it's too late!
Quote:
Spring condo project gets $70 million loan
The International Bank of Commerce is providing a $70 million construction loan for the Spring condominiums, to be built at Third and Bowie streets downtown.
Developers said they plan to start work on the 41-story, 260-unit tower in early 2007, with completion expected in the fourth quarter of 2008.
Royal Blue Grocery, downtown's first neighborhood grocery story, opened Tuesday at 247 W. Third St., near the Second Street retail and entertainment district.
The 1,000-square-foot store will cater to downtown's growing resident population, stocking staples such as milk and eggs, fresh produce and prepared foods, wine and beer.
The founders are Craig Staley and George Scariano, who met when both worked at Chuy's.
Staley's other ventures include Mint Salon and Bettysport, an apparel store. Scariano was previously kitchen manager at the Shady Grove restaurant on Barton Springs Road.
The store will be open daily from 7:30 a.m. to midnight.
1,000 sq ft is pretty small.. but better than nothing!
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Resident of West Campus neighborhood, Austin Texas
1,000 sq ft is pretty small.. but better than nothing!
I was surprised how small it was looking. I can't wait to check out what their prices are. It would be great if this were a prototype for others in the area. We are still needing more like it downtown... particularly on the north end.!Glad it's there!
This is big news. With Spring looking more and more like it WILL happen, downtown is going to start pushing west, with higher density. Spring will not be left all by its lonesome over there. And to think we all had a bad feeling about this one ...
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I can feel it coming back again ...
Well, a bit part of our bad feelings for Spring came from someone who turned out to be a viral marketer. So, for all we know this was a very healthy proposal from the get go.
Strangely, very few announced projects have failed to happen at this point. We still have a few that arent scheduled to break ground for a while, so who knows what will happen with them.. but so far so good.
By Shonda Novak, M.A. Taboada
AMERICAN-STATESMAN STAFF
Wednesday, September 20, 2006
More high-rise living is headed downtown, this time in a 31-story luxury apartment tower with Town Lake views slated for downtown's southeastern edge.
Legacy Partners, based in Foster City, Calif., plans to build Legacy @ Town Lake at Rainey and Cummings streets.
Last year, the Austin City Council set the stage for redevelopment of the 30-acre Rainey Street neighborhood by giving it the same higher-density zoning as the rest of downtown. Many residents said they were ready to sell their homes, many of which date to the 19th century.
Legacy is buying about three-fourths of an acre for its project from landowners including Perry Lorenz and Robert Knight.
Legacy expects to break ground in March, and the building will be ready for the first tenants in summer 2008, said Spencer Stuart, senior vice president.
The company has made a name for itself by building upscale apartment projects in California, Arizona, Colorado, Washington and Texas, among other states. The tower would have 184 apartments, with units averaging about 1,100 square feet and renting for about $2,100 a month. Penthouse units would rent for about $6,500 a month, Stuart said.
Nine moderately priced units in the $1,100-a-month range would be reserved for people making less than 80 percent of the area's median income at the time the project opens.
Stuart said the project doesn't require any zoning changes or variances from the city.
"We're coloring within the lines," Stuart said.
Downtown Austin is in the midst of a wave of residential development that is changing the skyline with new condominium and apartment high-rises.
The Legacy will join more than a dozen other projects in the pipeline.
Stuart said he doesn't foresee demand for downtown living slowing.
"Austin has one of the best lifestyles in the country, and Austin has the best downtown lifestyle of any major city in Texas," Stuart said.
Austin leaders want to encourage more housing downtown, setting a goal of having 25,000 people living in the city's center in the next 10 years, a fivefold increase from current levels.
"There's ample demand for apartments and in the next two to three years, there probably won't be enough," said area real estate consultant Charles Heimsath, adding that there aren't many apartments planned for the downtown area.
The $2,100 average rent is feasible for singles and couples with good jobs who split the rent and pocket the gas money they would have spent on commuting, Heimsath said.
"Most of the people who rent downtown tend to be younger singles and couples," he said. "What that means is that you'd be paying a little over $1,000 a month. . . . It's expensive, but there are people paying it with 95 percent occupancy with some of the existing properties today."
However, downtown residential markets have cooled in other cities, and a few projects have been canceled in Dallas and elsewhere because sales lagged.
Helen Edwards, president and chief operating officer of the Austin region for Coldwell Banker United Realtors, said there is "very active demand" for downtown housing now.
But, she added, "in any marketing situation, either for rental or for-sale property for housing, there will come a time when the demand falls short of the supply. It's logical to think that at some point in time, if the building continues and the demand doesn't increase, that we'd have an oversupply of this housing. At this point in time, we don't know when that might happen."
Legacy @ Town Lake would be built southeast of the Milago, a 13-story condominium tower that opened in early June on Rainey Street.
Nearby, construction is under way on the Shore, a 22-story condominium tower being built next to the planned Hotel Van Zandt, a 29-story boutique hotel with 290 rooms plus 55 luxury condominiums at Red River and Davis streets.
Geez, we've got one heckuva list growing...those 'under construction' and those planning to turnover the dirt in 'early' 2007 or sometime later...
without cheating, I can think of these off the top my head
in construction mode...
altavida
W hotel/block 21
AMLI 2
360
monarch
the shore
and the bridges on s. lamar
in 2007
spring
stacey tower 5th/congress (doesn't stacey have another proposal a few blocks west too?)
200 congress
legacy
van zandt
marriott convention hotels on the east side of congress bound by 2nd/3rd sts.
..i'm really excited about those currently in the works and being completed in just 2 short years...but I'll be really tickled to see stacey's tower and 200 congress to break ground and shoot up with the cranes competing to be austin's tallest
of course by the time those finally top out, i wouldn't be surprised to see another slate of tall or taller scrapers proposed if the momentum is sustained
geez I was contemplating a move to NYC
if I wait patiently, in some respects, I won't have to...
Well, a bit part of our bad feelings for Spring came from someone who turned out to be a viral marketer. So, for all we know this was a very healthy proposal from the get go.
Strangely, very few announced projects have failed to happen at this point. We still have a few that arent scheduled to break ground for a while, so who knows what will happen with them.. but so far so good.
So far, true. I'm still pessimistic however about many of the projects still at some leve of the proposed stage, especially the Stacy ones-- those that'll really push Austin's skyline to a new level (no pun intended).
All the arguments put forth on where the real occupant buyers will come from don't convince me. Indeed, these condos are being built and proposed on speculation and this has turned into a disaster just about everywhere else in the country now. The flippers/speculators are largely disappearing from the marketplace nationally; and it's such people who've been buying the vasty majority of high-rise condos. Austin indeed is probably the last major market that hasn't yet entered the downturn cycle, but it's just a matter of time.
That's why it's so important to see ground turning.
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Resident of West Campus neighborhood, Austin Texas
Austin is doing really good.. look at the proposals from 2005...
Stacey Tower - not yet, but scheduled for next year.
360 - UC
Spring - has financing, scheduled to break ground in next 6 months.
Altavida - UC
Monarch - UC
Amli 2 - UC
W hotel - nothing yet, but looks pretty solid
Shore - UC
Gables/Seaholm - ?
Gables/Seaholm and Stacey are the only big question marks from 2005 announcements..
Then we've got Van Zandt, The Courthouse and Marriott that all look very solid to happen next year as well. Plus a few more that may or may not happen. Is the courthouse 2007 or 2008?
with what is UC/has funding we are going to see a HUGE change in downtown. Lets just hope one of the two new tallest gets built.
Im with you Krytopin, Im pessemistic on alot of these projects, especially the newer proposals. The ones with funding and/or UC Im not at all worried about, and Hotel projects look safe to me as well. The condos are the real concern. Especially T Stacey that seems to be in the wrong part of downtown for residential... but we can allways cross our fingers. Right now we have the advantage that none of these are actually finished projects. Even if the buyers arent really there, we wont have proof of that until 2008 when these start to finish and fail horribly (hopefully that wont happen, but worst case scenario). So, developers can still play the emporers new clothes game for another year and a half. Honestly, I wouldnt mind if we get some of these great proposals built and the market does crash, so I can afford to live in one :lol
Also, Im expecting some big time office proposals in 2007.. after the sale price Frost got, you know someone out there has to be getting something together. Hopefully it wont be small stuff but someone will bust out a really outstanding proposal.
Also, Im expecting some big time office proposals in 2007.. after the sale price Frost got, you know someone out there has to be getting something together. Hopefully it wont be small stuff but someone will bust out a really outstanding proposal.
You know, this is where T-Stacy's project comes into play. If the office market continues its upward swing, this could be the saving grace for the tower. Already planned as a mixed-use tower with a large office component, he may opt to shift the space more toward office/hotel uses, with a smaller proportion set aside for residential (though hopefully not a scaled-down tower). Just a thought...
__________________
Austin.Texas.USA
Home of the 2005 National Champion Texas Longhorns
I really want to see T.Stacy's tower at 4th and congress become a reality. It's design is so simple, and the fact it will be the tallest, that I think it will stand out in the skyline in it's own right. Also I like the way it complements the other buildings and yet still manages to furtively overtake them.
To be honest, if I had to choose between 200 congress and T.Stacy I would really want to see Stacy's tower built.
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