Austin | South Austin Projects

[Novacek]

Originally Posted by smallfrie

We are giving this developer $3 million dollars to build this and bail. If they sell out at list price they will get $387 per gross sq. ft. Taxpayers are giving the developer $211 of that. Taxpayers should be entitled to a statement of all the projected income, expenses and profits on this project and after completion a statement of actual numbers

None of that math works.

$3M (from grants, source unspecified, not necessarily tax dollars) / 24400 sq ft =/= 211

[chinchaaa]

Originally Posted by Urbannizer

Just past Hwy 71, next to Sierra Vista Apartments.

Do you know the exact address? I live in the area, and I’ve been waiting for the area around St Elmo to really start blowing up.

[smallfrie]

I wrote a fairly detailed reply to Novachek showing how he was wrong, and the site ate it up.

I can't go through that again, so I suggest he (or any other interested parties) go to the Industry Soma website esp. the floor plan and the table near the top and re-think his comments.

[Novacek]

Originally Posted by smallfrie

I wrote a fairly detailed reply to Novachek showing how he was wrong, and the site ate it up.

I can't go through that again, so I suggest he (or any other interested parties) go to the Industry Soma website esp. the floor plan and the table near the top and re-think his comments.

Probably for the best, since you seem to need help.

There is a small (40-60 sq ft) discrepancy in unit size between that table and the statesman article. With the article being more recent, I'm inclined to think they've just updated things.

But even going with the unit sizes on that table, here's how math works:

20 units X 980 GSF = 19600 sq ft
3 units X 1165 GSF = 3495 sq ft

19600 + 3495 = 23095


$3 Million / 23095 = subsidy of $129.90 per GSF.

130 =/= 211


Now, that document is also interesting because it gives complete lie to your claim that

Originally Posted by smallfrie

The project is not particularly welcoming, is not family oriented, is unsafe and residents will bashfully call it their house. I can't see any focus on community nor enjoyable outdoor living. Unless one feels dodging cars in the promenade is enjoyable.

https://industryatx.com/wp-content/u...A_EBOOK_SM.pdf

There's gardens, there's lawns, there's private yards, there's community gathering and activity spaces.

Not that there's anything wrong with the promenade. You claim you grew up playing basketball dodging cars in an alley, and you think the promenade is unsafe? Especially towards the west end, you're talking what, a car every couple of hours?

[Urbannizer]

Originally Posted by chinchaaa

Do you know the exact address? I live in the area, and I’ve been waiting for the area around St Elmo to really start blowing up.

4308 S Congress, vacant lot next to the apartments.

[smallfrie]

Originally Posted by Novacek

Probably for the best, since you seem to need help.

There is a small (40-60 sq ft) discrepancy in unit size between that table and the statesman article. With the article being more recent, I'm inclined to think they've just updated things.

But even going with the unit sizes on that table, here's how math works:

20 units X 980 GSF = 19600 sq ft
3 units X 1165 GSF = 3495 sq ft

19600 + 3495 = 23095


$3 Million / 23095 = subsidy of $129.90 per GSF.



130 =/= 211


Now, that document is also interesting because it gives complete lie to your claim that


https://industryatx.com/wp-content/u...A_EBOOK_SM.pdf

There's gardens, there's lawns, there's private yards, there's community gathering and activity spaces.

Not that there's anything wrong with the promenade. You claim you grew up playing basketball dodging cars in an alley, and you think the promenade is unsafe? Especially towards the west end, you're talking what, a car every couple of hours?

Okay, I was looking up definitions of gross area, gross square foot area, etc., and used their GA figure of about 14,400 sq. ft. even though I recognized at the time there were issues with number for what I was using it for. The percentages are the same though, not matter what the square feet are: the subsidy is 55% of the potential total sales revenue, for what that's worth.

I suspect I am hopelessly naive in not recognizing that the developer will probably get the $5,495,000 total sales price plus our $3,000,000 subsidy for a total income of $8,495,000. We get the property tax. 26 year payback on our $3,000,000 assuming $5,000 per year per unit property tax.

Regardless of their protestations I suspect they could have done the project with 0 subsidy and still eked out a small profit. $5,495,000/23,095 (using your number) is about $230 per square foot. If you double the GA for two stories (about 28,800 sf.) is about $191 per square foot. Maybe they could have, maybe not, the point is we can't tell. Can't precisely tell livable space either, I estimate 775 sf. max for the four person family it is ostensibly meant for.

i have no issue with the three Accessible Units. We need more like them.

[Novacek]

Originally Posted by smallfrie

Okay, I was looking up definitions of gross area, gross square foot area, etc., and used their GA figure of about 14,400 sq. ft. even though I recognized at the time there were issues with number for what I was using it for. The percentages are the same though, not matter what the square feet are: the subsidy is 55% of the potential total sales revenue, for what that's worth.

GA is the building footprint. But these are two story. the SF isn't quite double, because of the stairs and the carport.

Originally Posted by smallfrie

I suspect I am hopelessly naive in not recognizing that the developer will probably get the $5,495,000 total sales price plus our $3,000,000 subsidy for a total income of $8,495,000.

Sure in magic-land where these buildings suddenly popped into existence.

In the real world, they had to actually, you know, pay to build the buildings.

Originally Posted by smallfrie

Regardless of their protestations I suspect they could have done the project with 0 subsidy and still eked out a small profit. $5,495,000/23,095 (using your number) is about $230 per square foot. If you double the GA for two stories (about 28,800 sf.) is about $191 per square foot. Maybe they could have, maybe not, the point is we can't tell.

5.5M doesn't even cover the construction costs (estimated at 5.9M). Much less land costs, design work, financing costs, city permit costs, closing costs, etc.

and yes, we can tell. It's not like there's an ATM downtown just handing out money. They needed to apply for any public subsidy they got, and show that their numbers were reasonable for construction expenses in Austin (currently massive).

[kingkirbythe....]

Turning Empty Rails to Urban Trails at the Bergstrom Spur in South Austin

https://austin.towers.net/turning-em...-south-austin/

A project by Austin Public Works converting more than six miles of abandoned rail line in South Austin to an all-access urban trail is shifting into the next gear this month — and although it’s not too flashy, the plan has the potential to bring some downtown-style urban design improvements to the region south of Highway 290, which often comes up a little short in the walkability department. The Bergstom Spur, an abandoned rail corridor branching off from the city’s main Union Pacific line at Vinson Drive and running 6.5 miles eastward to Highway 183 near the airport, provided freight access to the former Bergstrom Air Force Base until it closed in 1993. After that, the trains stopped running, as you might have noticed if you’ve ever paid attention to the condition of the rails where they cross the streets in this area:

[gillynova]

I'm seeing a LOT of construction happening south of South Park Meadows. I'm guessing a ton more apartments that way... on an already congested area :\ Sad cuz they JUST renovated 1626 Road and it's still 1 way each way

[kingkirbythe....]

Rezoning for 33 new condos off far South Congress endorsed by city commission

https://www.bizjournals.com/austin/n...ew-condos.html

Amid a housing shortage in Austin, the city’s Zoning and Platting Commission signed off Oct. 4 on a zoning change to allow multifamily dwellings at the site of a scrapyard yard off South Congress Avenue.

The vote marked a step forward in Thrower Design's plan to construct 33 condominium units on the 2.7-acre plot at 7901 Peaceful Hill Lane. The site is owned by Jeffrey Fluitt.

With the ZAP recommendation, the zoning change will next be brought before Austin City Council for a final vote.

[The ATX]

The new HEB at S. Congress & Oltorf will have two tower cranes.

https://abc.austintexas.gov/public-s...rtyrsn=3309168

[Urbannizer]

Bishop Momo

4329 S. Congress

[lonewolf]

the soco-290 overpass/intersection is going to have to be revisited soon

st elmo going to completely transform in the next couple years

[chinchaaa]

what is that old looking stone building behind it on the right? definitely not there right now. i've heard they were putting a music venue over there. i wonder if that's it?

[Atom_Mirny]

Refurbished version of this?

[chinchaaa]

Originally Posted by Atom_Mirny

Refurbished version of this?

I think this is too far north. This new building is on that new entry road they built within the property. It looks like that one is on an existing road north of the site.

[Echostatic]

Construction has started on something massive at 5900 Ben White. Seems to be just new industrial space, but the amount of cleared land looks enormous from the highway.

https://www.liveoak.com/listing/5900-ben-white

[wwmiv]

Originally Posted by lonewolf

the soco-290 overpass/intersection is going to have to be revisited soon

st elmo going to completely transform in the next couple years

How is the intersection currently functioning? Any estimate on what are the traffic clearance times?

[lonewolf]

Originally Posted by wwmiv

How is the intersection currently functioning? Any estimate on what are the traffic clearance times?

nothing atypical about it whatsoever. standard overpass (s congress) running over 290/71. perhaps longer wait times than most

as we all know south of 290/71 in city limits we just don't have any very dense population corridors. I see congress between 291 and william cannon becoming one in the near future. And the way that intersection currently functions is not friendly to pedestrians bikers or scooters at all, and i think that intersection will soon see an influx of that type of traffic.

[randalls]

Does anybody know what's going on here with this construction project at 1608 SOUTH CONGRESS AVE right next door to South Congress Books? It's been under construction for a couple of years and doesn't seem to have had a lot of movement. I asked someone at the bookstore if they knew what was going in there and they had no idea. They said all they knew was about a private club on the top floor. They did mention that they could hear construction going on in there after a long hiatus.

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