It’s not difficult to find mixed-use developments in any large city; Austin is no exception to this. At this moment, there is a developer that wishes to add another mixed-use development near the capitol. The project is called Capitol Terrace, and it is situated on the south-west corner of 14th Street and [...]
It’s not difficult to find mixed-use developments in any large city; Austin is no exception to this. At this moment, there is a developer that wishes to add another mixed-use development near the capitol. The project is called Capitol Terrace, and it is situated on the south-west corner of 14th Street and Lavaca. There is another mixed-use development just blocks away.
downtown development with tree lined streets
The city council would need to approve a zoning change for this quarter-block development, because the proposed height of the building (12 stories, up to 163 feet tall) is higher than the maximum currently permitted in the area (120 feet).
To say that this development would have “a little of everything” would be accurate. It is projected to have 5 floors of office space, or about 61,000 square feet. It would have 30 higher-end apartments for those with business at the Capitol. That could be lobbyists, or legislators. It would have small shops such as gift shops, and a white-tablecloth restaurant. It is also slated to have 5 levels for parking, of which 2 would be under-ground levels. Currently, only one lease would be displaced by the new development.
Pedestrians would be treated to spacious, tree-lined sidewalks.
The proposed zoning change is expected to be heard on December 12, 2009. If approved, construction is expected to begin in the second quarter of 2010.
These days, it has become very important to keep the environment in mind with pretty much every aspect of our lives. With so much emphasis on green living, it can sometimes be difficult to know if the choices that you make are actually eco-friendly. Of course, there are the obvious, like recycling and reducing energy [...]
These days, it has become very important to keep the environment in mind with pretty much every aspect of our lives. With so much emphasis on green living, it can sometimes be difficult to know if the choices that you make are actually eco-friendly. Of course, there are the obvious, like recycling and reducing energy output. What about when you are building a home, or just remodeling? Again, there are the obvious green choices like sustainable materials and energy efficient appliances. Beyond that, what is considered green living?
First of all, you will want to look at the site. For new construction, green living starts from the ground up. Take a look at the location itself. An eco-friendly builder will want to find a spot that reduces the need for car travel. Austin is becoming a hot spot for mixed use properties, making it an excellent place to be eco friendly. Smaller sites are also more environmentally sound, as they will require not only fewer materials, but less energy when complete. Older areas are also more eco-friendly in that they may have originally been designed with a walking commute in mind. While most of Austin is not necessarily convenient to the local grocery store, the newer designs are definitely taking it into account.
Austin is a city at the forefront of green living. There are several incentives offered by the city that encourage homeowners to make better energy decisions. The Austin Green Building Program has a rating system that can assist in making more environmentally friendly choices not just in building, but in day to day living as well. A little research can bring you to the proper choices in green living.
Austin has been working intensely on creating a competitive downtown area that will encourage commercial and residential growth. A large contributor to this goal is the increase in mixed use properties downtown. Many have excellent prelease arrangements for retail space, office space, and apartments. While the nation struggles to maintain normalcy in a weakening economy, [...]
Austin has been working intensely on creating a competitive downtown area that will encourage commercial and residential growth. A large contributor to this goal is the increase in mixed use properties downtown. Many have excellent prelease arrangements for retail space, office space, and apartments. While the nation struggles to maintain normalcy in a weakening economy, Austin has managed to stay above the curve in many respects. The real estate market has slowed here, but the area is not nearly as hard hit as most other comparable cities. Companies continue to seek out cities such as Austin for the potential to grow their business. Austin provides the perfect setting for employers and employees alike. The mixed use properties currently underway and pending offers even more incentive to help Austin grow.
Mixed use properties can evolve as the demands change. This is evidenced by the recent announcement by Stratus Properties, Inc President and CEO, Beau Armstrong that Austin’s Block 21 project may add up to 35,000 square feet to accommodate a potential new leaser. While many builders have decided to put new construction on hold while awaiting a change in the economy, Armstrong states his project will continue as planned. The property is about 44% leased, and should continue to fill as construction is underway. Armstrong is open for more changes if necessary. Sales have slowed in response to the economy, but Armstrong is confident that more will become interested as the property is built.
Austin is expected to fare much better than other cities during the economic crisis. More businesses are expected to take advantage of the healthier economy here. As businesses move in, employees will also filter in. The potential of increases will help Austin reach its goal of downtown growth.
Austin has been a haven for many businesses, even throughout the recent economic crisis. Dell has its headquarters here. The fast population growth, technology enterprises, and proximity to colleges have made it a great city for business development. The current state of the economy, however, has put a damper on planned building for 2009.
Mixed used [...]
Austin has been a haven for many businesses, even throughout the recent economic crisis. Dell has its headquarters here. The fast population growth, technology enterprises, and proximity to colleges have made it a great city for business development. The current state of the economy, however, has put a damper on planned building for 2009.
Mixed used properties are the most recent addition to the downtown Austin skyline. There remains demand for apartment space as well as commercial in this area. With an increase in supplies for building at lower rates has only helped in these developments. Unfortunately, it appears that the demand is not as high as originally expected. Many mixed use and commercial properties are being built without pre-leasing. There are many buildings that sit vacant in Austin. Experts blame the same factors that have drawn people here for the current crisis. Apartments have been in high demand here based on local college. The tech boom brought many new employees to the area in the last several years and while the population is expected to continue its increase, less people are able to move now with the credit crunch. Many developers have put construction projects on hold as they wait for the economy to steady.
Austin is still expected to come out of the recession in better condition than many other cities. Unemployment rates here remain lower than the national average, and it is still considered a good investment city for many businesses. The economy is expected to get better here by 2010.
Southwest Austin has begun a mixed-use property boom. A recent addition to this area is the Class A office complex, Capstar at Compass Plaza. The eight story, 115,000 square foot property began construction in July and is expected to be completed within the next year. The property has already been pre-leased to several businesses, including [...]
Southwest Austin has begun a mixed-use property boom. A recent addition to this area is the Class A office complex, Capstar at Compass Plaza. The eight story, 115,000 square foot property began construction in July and is expected to be completed within the next year. The property has already been pre-leased to several businesses, including Compass bank. Three Capstar companies, all owned by R. Steven Hicks have also pre-leased space in the building. These companies are Capstar Investment Partners LP, Harden Healthcare Texas LP, and DMX Inc.
This part of southwest Austin has seen an increase in mixed-use properties, which include commercial, retail, and residential space. This building is located on the southeast side of MoPac Expressway, and is considered a gateway to downtown Austin. Also in the works for this area is 5th Street Commons, located between West Lynn and Campbell streets. This area, through development of Gables Residential and the Austin office of Direct Development will include 138 residential apartments and 38,000 square feet of retail space. Gables is also working with Capital City Partners for a 165 apartment unit and additional retail space on the corner of Fifth and Pressler Streets. A seven story garage is also planned for the area on Fifth and Lamar streets, created by Schlosser Development Corp. This will also provide about 10,000 square feet of retail space.
The creation of these mixed use properties provide Austin with increased revenue and give people the benefit of being close to everything, including downtown. There are currently several in development.
