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02/02/2012 Join us on Facebook & Twitter!

02/02/2012 first low-income housing project in decades planned for downtown

An Austin nonprofit plans to build the first downtown development in decades to house low-income residents, a population often priced out of apartment and condo towers downtown. Foundation Communities is proposing a $15 million, four-story project called Capital Terrace at 11th and Trinity streets that will include 135 efficiency apartments. The units will be rented for $400 to $650 a month, utilities included, to single adults who earn less than $27,000 - roughly half of Austin's median income. "There are a lot of folks who work downtown, at hotels and restaurants or even the Capitol, that make less than $13 an hour and would like the option of living close by and not needing a car," said Walter Moreau, executive director of Foundation Communities. Read more...

01/31/2012 9 semifinalists named in waller creek design competition

Nine teams were chosen Monday as semifinalists for the Waller Creek Conservancy design competition, from a pool of 31 entries. The competition calls for a redesign of a 1.5-mile stretch of city parkland and urban space along Waller Creek in downtown Austin. Among firms chosen by a panel of landscape architects and urban designers are Austin's Miro Rivera Architects, PageSoutherlandPage and Ten Eyck Landscape Architects, as well as San Antonio's Lake/Flato Architects. Each team consists of a landscape architecture firm and design architecture firm. Read more...

01/31/2012 austin's comp plan promotes 'centers' approach

By spring, Austin City Council is expected to consider adopting a new comprehensive plan that would direct the city's growth and development over the next 30 years as its population likely doubles to 1.5 million people. "The whole emphasis of the plan is to get things connected and in close proximity to each other," said Garner Stoll, assistant director of the city's planning and development review department. "Some people can walk or use transit, but not everyone will have to take auto trips." If Austin develops in accordance with the plan, Stoll said the result would be a more affordable and liveable city. Read more...

01/26/2012 developers to break ground on first hotel at mueller

Developers are set to break ground on a 112-room Marriott next month at Mueller, the first hotel for the mixed-use development northeast of downtown. The four-story Residence Inn by Marriott will be built at the southwest corner of Lancaster Drive and 51st street, an ideal location to serve the nearby Dell Children's Medical Center of Central Texas at Mueller, said Greg Weaver, executive vice president of Catellus Development Corp., the master developer of Mueller. The hospital is adding a third wing as it grows even faster than originally planned, Weaver said. Read more...

01/25/2012 stricter rules could hit rainey street

At a commission meeting Tuesday night, the City of Austin's Planning Commission discussed initiating a code amendment that could require new cocktail lounges on Rainey Street to apply for a conditional use permit. Currently cocktail lounges, or bars, that are in the area downtown zoned as Central Business District, or CBD, do not have to be reviewed by the Planning Commission or the Austin City Council before they can be established. This proposal would change that, but just for the Rainey Street District. Read more...

01/21/2012 new atx festival will focus on tv industry

Austin's getting yet another festival - and this one will focus exclusively on television. The three-day ATX Festival, set to kick off June 1, will include screenings of shows already on the air, programs that are still in development and an assortment of cult favorites. Special attention will also be paid to unaired pilots and series that were "canceled before their time," the event's founders say. And, like many festivals, panels and question-and-answer sessions featuring industry executives are planned, according to co-founders Emily Gipson and Caitlin McFarland. Read more...

01/20/2012 w hotel set to install new, stronger glass panels

Final repairs will soon begin on balconies at the W Austin Hotel and Residences, with workers set to install about 1,000 panes of specially engineered glass that can withstand hurricane-force winds and even bomb blasts, according to its manufacturer. Glass panels were removed from balconies on the 37-story, $300 million building in mid-2011 after eight panels shattered on three separate occasions in June, raining glass into the hotel's pool area and onto adjacent streets. Read more...

01/20/2012 austin playhouse signs contract to purchase building site at mueller austin

Austin Playhouse is one step closer to realizing a new home at the Mueller redevelopment. Leaders for the non-profit theater report that on Thursday they signed a contract with Catellus developers to purchase a building site in the Town Center portion of the Mueller redevelopment. Theater leaders have been in negotiations with Catellus, the developers of Mueller Austin, for several months. Read more...

01/19/2012 another downtown hotel on the way

Financing is now in place for a new eight-story, 137-room Hampton Inn & Suites at 1701 Lavaca St. near the University of Texas campus and the Capitol. Construction should start soon with a projected opening in September 2012, according to an announcement from Houston-based hotel manager Vista Host Inc. Financial details weren't released. General contractor for the project is Ebco General Contractor Ltd out of Cameron. Read more...

01/19/2012 whole foods plans major downtown office expansion

Readying for major growth, Whole Foods is planning a substantial expansion of its already-crowded corporate offices downtown, with a new 20-story building to be built adjacent to its current headquarters on Lamar Boulevard. The tower would be one of two buildings that Schlosser Development Corp. plans to build in the parking lot across Bowie Street. The larger structure would be about 325,000 square feet and about 20 stories tall; a second smaller building would be 4-5 stories and 10,000 square feet. Read more...

01/19/2012 firehouse hostel adds to austin's hotel scene

The Firehouse Hostel will take over an existing building at 605 Brazos St. in downtown Austin this Spring. Business partners Collin Ballard, a Seattle transplant, and Austin resident Kent Roth would not disclose the purchase price but said the project is being funded by private investors. The structure known as Firehouse No. 1 has mostly been a vacant office building and previously home to the Firehouse Lounge. Ballard and Roth are working with architect Ben May of Ben May Design to develop what the owners hope will be an Austin-centric project. Read more...

01/16/2012 new streets in downtown austin? believe it

The southwest section of downtown Austin, riven by Shoal Creek and occupied for more than a half-century by two sizeable city utility installations, has long been something of a transportation dead zone. That is about to change, or at least begin to change. Starting sometime this year or early next year, as development of condos, apartments and hotels begins on the 13 acres of the decommissioned Seaholm Power Plant and Green Water Treatment plant, construction will likewise begin on what will eventually be nine blocks of new downtown streets and a West Second Street bridge over Shoal Creek. Read more...

01/13/2012 austin firm pushes to finish f1 track work

While construction at the Circuit of the Americas will be hectic for most of this year as firms ready for the inaugural U.S. Grand Prix, at least one firm can see the finish line. "We have a big push next week," said Juan Miro of Austin-based Miro Rivera Architects. "We need to be done. If we're still giving them drawings six months from now, it's too late." The local architectural firm has been working on the racetrack project for more than a year. Last year, it was announced that Miro Rivera was designing a signature piece of the circuit, a 250-foot-high observation tower. Read more...

01/12/2012 new 23-story apartment tower planned in rainey street area

The developers behind a 44-story downtown condominium high-rise near the Austin Music Hall said today that they are planning their next project: a 320-unit apartment tower that would rise 23 stories in the Rainey Street area. An affiliate of Novare Group Investments LLC and its Austin partner, Andrews Urban LLC, said they plan to break ground this spring on the project, to be named SkyHouse Austin. Located at 47 Rainey Street on downtown's eastern edge, the tower would include significant retail space, Novare/Andrews Urban said in a statement. Read more...

01/12/2012 four seasons hotel austin changes ownership

One of downtown Austin's top luxury hotels is under new ownership. The nine-story, 291-room Four Seasons Hotel Austin was bought by Parsippany, N.J.-based Prudential Real Estate Investors Inc, in a joint venture deal with Lodging Capital Partners LLC. The purchase price was not disclosed. Read more...

01/11/2012 austin among 10 cities 'poised for greatness' in 2012

Austin is a great place to be this year, according to The Street, which named the Capital City among the top 10 cities "poised for greatness" in 2012. The Street, a financial news website, named its top 10 cities for 2012 based on financial forecasts, large-scale events and new initiatives. Austin was cited on the list for its low unemployment rate, its many music and film festivals, and its low home prices. Austin's blend of state jobs, help from the University of Texas at Austin, and private-sector employment also contributed to Austin's place on the list. Read more...

01/10/2012 Heywood Hotel, a boutique hotel new to east austin

Austin's newest boutique hotel, the Heywood Hotel embodies the intangible elements that define Austin: Creative. Easy going. Thoughtful. Cool. New to the vibrant East Austin neighborhood, the Heywood Hotel is officially open for business. The unique hotel features seven different room types, and is surrounded by local restaurants, lounges, and shops, and an easy walk to downtown Austin. Read more...

01/06/2012 $3.4 million sabine promenade could anchor waller creek district

There's a good chance many longtime Austinites have never been to Sabine Street. After all, only four-plus blocks of the downtown road exist, broken into two out-of-the-way segments near Interstate 35. The City of Austin aims to change that by transforming the larger piece between East Fourth Street and East Seventh Street into a promenade that, according to a 2010 master plan for the Waller Creek district on downtown's east side, "can become a catalyst for the revitalization of the area." Read more...

01/04/2012 austin remains popular with foreign real estate investors

Austin has moved up a few spots on a list of top U.S. cities favored by foreign real estate investors, according to a survey released Tuesday by the Association of Foreign Investors in Real Estate. The Capital City moved into the No. 8 spot up from No. 11 last year. Houston ranked seventh and Dallas snagged the No. 13 spot after not placing on the list since 1995. The top five cities for foreign investment in 2012 are New York, Washington D.C., San Francisco, Boston and Los Angeles. Read more...

12/22/2011 new tenants for second street signal different direction

Downtown Austin's Second Street District is set to add eight to ten new tenants to the retail, entertainment, and residential corridor that's evolving into one of Austin and Texas' more successful density-driven corridors. Luxe Apothetique, a boutique, apothecary and salon, is taking 2,750 square feet at 201 W. Second Street; Strut, a young women's fashion boutique, will open its fourth Austin location in a 1,200-square-foot store at 215 Lavaca; Austin-based Daily Juice is taking a 1,325 square feet at 209 W. Third St.; and Hemline, a women's apparel concept out of New Orleans, is opening up a 1,200-square-foot store at 233 W. Second Street. Read more...

12/21/2011 austin no. 1 for highest job levels in a decade

Austin's total employment is now at its highest level in the past decade. The area had 786,200 non-farm employees on local payrolls in October, one of only five cities in the country to reach a new 10-year peak, according to an analysis of U.S. Bureau of Labor Statistics data by The Business Journals' On Numbers. Three of the other high-flying cities are also in Texas: El Paso, Houston and McAllen-Edinburg, while the other city to reach its highest employment level since 2001 is Pittsburgh. Austin added more than 125,000 jobs from its lowest point in the past decade, a 19.7 percent gain. Read more...

12/16/2011 construction set to begin on second phase of gables park plaza

Gables residential says it plans to start construction Monday on the 18-story second phase of its Park Plaza apartment project downtown, with 222 units to be built just east of its eight-story, 290-apartment complex near North Lamar and West Cesar Chavez Street. The second phase of the project will also have 14,000 square feet of retail space, said Jennifer Wiebrand, development director with Gables in Austin. A project cost was not available Thursday for the project, which is just west of the former Seaholm Power Plant. The project is expected to be completed by late 2013, Wiebrand said. Read more...

12/15/2011 get ready for more mueller projects

Break out the hard hats and watch out for the bulldozers. A hotel, a grocery store, and children's museum will get started at the Mueller development in Q1, says project developer Catellus EVP Greg Weaver. (Convenient too: after a day of wandering through the children's museum, you could use a place to rest your head.) Greg tells us the almost 75k SF H-E-B (which is going for LEED Silver cert) will be a green prototype for the supermarket; it's scheduled to open Q1 '13. Also at the site: Austin ISD announced plans to locate its district-wide performing arts center at Mueller, although no date has been announced for its construction, Greg says. And Standard Pacific Homes and David Weekly Homes are completing more than 100 residences, half that are part of the Mueller Affordable Homes Program. Read more...

12/14/2011 approval of downtown austin plan launches decade-long improvement process

After six years of research, public discussion and city meetings, the Austin City Council has unanimously approved the implementation of the Downtown Austin Plan, an outlined process designed to facilitate, shape and manage Austin's growth within its downtown sector. The DAP provides the downtown area - bounded by Lamar Boulevard, Martin Luther King Jr. Boulevard, I-35 and Lady Bird Lake - a set of guidelines that establishes priorities for the city to meet over the next 10 years to make downtown a "livable, walkable, connected, inclusive, affordable, culturally alive and economically strong" environment. Read more...

12/13/2011 downtown post office to be sold; no word yet on what's next for site

The U.S. Postal Service said today that it plans to sell its downtown station on Guadalupe Street to Atlanta-based Novare Group and its Austin partner, Andrews Urban, the companies that developed the nearby 360 condominium high-rise. The sale is expected to close in mid- to late 2012. Novare had the post office site under contract several years ago, with plans to build its second downtown condo high-rise project, but delayed those plans due to the economic turn down. Read more...

12/09/2011 austin city council approves broad new vision for downtown

The Austin City Council gave final approval Thursday to a long-awaited plan for downtown Austin that envisions spiced-up parks, urban rail and more moderately-priced housing. Among other things, the 200-page plan calls for preserving historical buildings downtown, improving shabbier park spaces such as Brush Square, adding services for homeless people and creating an economic development group that can guide growth in the urban core. The plan will cost an estimated $350 million to carry out. It's not clear where that money will come from, but the likely options are fees, bond elections or partnerships with private firms. Read more...

12/09/2011 downtown austin post office building sold; branch to close its doors

In an attempt to cut costs and consolidate, the U.S. Postal Service has sold the building housing its downtown Austin post office at 510 Guadalupe St. "We're starting to liquidate property, and this one is the first one to go," said Postmaster Fina Morales. Although the office is not making a formal announcement until Dec. 10, Morales said the building was officially sold to its new owner last week. Read more...

12/08/2011 chamber to buy office space at hilton austin hotel

The Greater Austin Chamber of Commerce is movin' on up. With the lease at its existing offices expiring next year, the chamber plans to move its 45 employees from 210 Barton Springs Road into new digs at downtown's Hilton Austin Hotel, 500 E. Fourth St. The chamber plans to move in March. The chamber is purchasing a space once occupied by Faulkner USA, which built the Hilton. The sale price has not yet been revealed because the deal is not set to close until Dec. 20. "The board was very, very excited about the prospects for this, and very excited that the chamber of commerce is going to have a permanent home," chairman Bobby Jenkins said. Read more...

12/07/2011 planned downtown hotel's upgrade to luxury brand may be coup for convention market, experts say

In a major change for its project and a coup for Austin's convention market, the developer of a 1,003-room convention hotel set to rise on Congress Avenue says the hotel will be a JW Marriott a luxury brand that is a significant upgrade from the Marriott Marquis previously planned. The change will give the 30-story hotel a higher profile and added cachet, industry experts say, and potentially catapult the city into an elevated tier for attracting convention business. The developer, Indiana-based White Lodging Service Corp., was scheduled to announce the change today. It plans to break ground in June on the $300 million hotel, which will be on Congress between Second and Third Streets. Richard Suttle Jr., White Lodging's Austin attorney, said a site plan will be submitted to the city today. Read more...

12/07/2011 f1 boss confirms deal with austin organizers has been reached

The international Formula One racing calender is set, and the inaugural United States Grand Prix is scheduled to be run in Austin on Nov. 18, 2012. In an email to the American-Statesman, F1 boss Bernie Ecclestone confirmed a deal had been reached with Circuit of the Americas investors. "Yes there will be a race there," he said. "We hope it will be for 10 years." Circuit officials said they reached an agreement with Ecclestone just hours before the World Motor Sports Council, meeting today in New Delhi, ratified the final 2012 F1 racing calender. Ecclestone had said this meeting in India would be the firm deadline for striking a deal with the track to host the Grand Prix next year. Read more...

12/06/2011 startup texas to connect local entrepreneurs with funding, resources

The Austin Chamber of Commerce and area entrepreneurs have launched Startup Texas, a Web-based initiative that aims to connect local entrepreneurs with venture capital, much like an online dating site. Startup Texas is the local iteration of Startup America, an initiative chartered by President Barack Obama and headed up by AOL co-founder Scott Case. Since its launch in January 2011, Startup America has helped connect entrepreneurs and startups with $730 million, according to its website, and has received capital support from companies including IBM, Hewlett-Packard Co. and Intel Capital, among others. Read more...

12/06/2011 a library for the future

The new Downtown Austin library that will be a part of the Seaholm Power Plant redevelopment should be completed by Spring 2013. The new library will feature flexible and blended meeting space, state of the art technologies including electronic delivery of information, and a mixture of both lively and contemplative spaces. The accessible building will allow for easy access to Shoal Creek, Second Street District, the Lance Armstrong Bikeway, and western Downtown. With a strong focus on sustainability, the Downtown library will feature energy efficient integrated systems, an extensively daylit atrium, and water efficient systems/rainwater harvesting. Read more...

12/01/2011 how to build for the cool crowd

Three things will play a large role in the office of the future: the environment, building with limited resources, and next-gen workers who combine work and play, Gensler regional design director David Epstein tells Real Estate Bisnow. David is currently working on the Green Water Development for Trammell Crow Co. in Austin. The mixed-use office, retail, hotel, and housing project speaks to the generational shift combining work and play. That project just finished the master planning stage and now David is starting on the block-by-block designs. Andres Construction Services will break ground this month on Park Plaza Tower, the second phase of Park Plaza, says project designer Zieger Cooper Architects senior principal Scott Ziegler. The downtown high-rise apartment building is just east of Lamar Boulevard and north of Town Lake near the Whole Foods store. The 18-story mixed-use project will join Gables Residential's other four Austin projects. Read more...

11/29/2011 retail shops to 'pop up' on congress avenue

Temporary retail stores are starting to pop up downtown for the holiday seasons thanks to new permitting system approved by the Austin City Council this year. The Congress Collective Pop Up Shop at 910 Congress Ave. was the first to navigate the city's new process, passed in November. After the holiday pop-up was met with city restrictions last year, the Downtown Austin Alliance partnered with the city of Austin to come up with the new system for temporary retail shops. Read more...

11/19/2011 ut system move could free up middle sixth street

The possible relocation of the University of Texas System headquarters out of downtown presents some tempting social options for Austin. The system might move its 500 employees from a cluster of office buildings along Colorado, Lavaca, West Sixth and West Seventh streets. Among the potential destinations are the Brackenridge Tract, Pickle Research Campus, Mueller Development and University Park. Officials think they could save up to $3 million a year on updated facilities. The most provocative element in this exchange is not the choice of the new location, but rather, what would happen to that block and a half of prime downtown real estate, located at a crucial ligament between the East Sixth and West Sixth entertainment districts. Read more...

11/15/2011 construction stopped at circuit of the americas track

Construction at the Circuit of the Americas racetrack has been immediately suspended pending a completed contract assuring the Formula One United States Grand Prix will be held at the purpose-built facility in 2012. The race contract between Formula One and COTA has not been conveyed to racetrack organizers per a previously agreed upon timetable, according to a COTA press release. "We have spent tremendous resources preparing for the Formula One and MotoGP Championship races, but the failure to deliver race contracts gives us great concern," said Bobby Epstein, founding partner of COTA. "Given the purpose-built Tilke design, creating a unique fan experience and iconic challenge for drivers, we hope that Texas will not be left behind. More than 100,000 fans have expressed an interest in purchasing tickets for Formula One alone." Read more...

11/10/2011 austin extends car2go, zipcar contracts

Austin may become the first city in the nation with multiple car-sharing options after the city council approved moving forward on contracts with Car2go LLC and Zipcar Inc. If an agreement is reached, the contract with Austin based Car2go will continue the relationship that began in 2009 as a pilot program for Austin city employees. The contract with Zipcar will be the first time the city has partnered with the Cambridge, Mass.-based car share provider. Zipcar partnered with the University of Texas at Austin to provide car-sharing for faculty, staff and students in January. Read more...

11/09/2011 rogers-o'brien to build downtown apartment tower

Rogers-O'Brien Construction has been chosen to build the new 17-story apartment building at the northeast corner of Third and Brazos streets in downtown Austin. The 282,000-square-foot Riverside Resources project will include 268 multifamily units, 10,000 square feet of ground floor commercial space, 6,000 square feet of restaurant space, 5 floors of above-ground parking and 11 floors for residential occupancy. Construction has begun and the project should be wrapped up in 18 months, Rogers-O'Brien said. Read more...

11/08/2011 red river could become music district

Monday night, the Austin Music Commission decided to work on a resolution to designate Red River Street a music district. "It takes decades for a music community, district to grow," said Austin Music Commission chair Brad Spies. "What we're hoping to do is protect the eco-system that has grown for decades over there." About a dozen venues line Red River Street downtown. By dubbing the street, the 'Red River Live Music Heritage District,' Commissioners hope to eventually create incentives so venues that are currently there will want to stay. Incentives that might allow the venues to stay open longer hours, free up more parking for employees and bands in the area, and a tweak to the sound ordinance to better cater to the area. Read more...

11/04/2011 austin council gives initial approval to downtown plan

The Austin City Council gave a preliminary thumbs-up Thursday night to a years-in-the-making, million dollar plan intended to guide the growth of downtown, while leaving some key details for further debate. The Downtown Master Plan lays out the vision of a more walkable, more densely populated, more family-friendly downtown served by a rail system and with more tall buildings and a revitalized system of parks. The 200-page document seeks to clarify the city's development policies and reconcile some emerging conflicts, such as how to preserve downtown's live music scene while expanding a population that might get cranky about the noise outside the window. Read more...

11/04/2011 austin city council approves east austin bikeway extension

A new addition to the Lance Armstrong Bikeway will connect downtown, East Austin and the Lady Bird Lake hike-and-bike trail. The Austin City Council on Thursday approved about $610,000 to complete the easternmost section of the Lance Armstrong Bikeway. The total cost of the bikeway is estimated at $3.2 million, which includes grant and bond money. The city built the first leg of the project in 2007 and the second in 2009. The third phase will run from East Fifth Street and Shady Lane to the Airport Boulevard bridge. Chad Crager with the Neighborhood Connectivity Division of the Public Works Department will manage the project, which is scheduled to start in January and take 210 days. Read more...

11/03/2011 two art museums approve merger

Formalizing a process that began earlier this year, leaders of the Austin Museum of Art and Arthouse voted Tuesday to approve the merger of the two nonprofit organizations, a move that signals a major shift in Austin's cultural landscape and ends a tumultuous chapter for both museums. Attorney Darrell K. Windham has been appointed president of the new board, with art collector and philanthropist Mickey Klein as board chairman. Jack Nokes, who has been serving as AMOA interim director since Dana Friis-Hansen left the job in January, will remain as interim director of the new organization until a director is appointed. Read more...

11/03/2011 new transit group to draft regional plan

A Central Texas "transit working group," first created by the City of Austin in 2007 to vet a proposed urban rail plan, has been regenerated by Austin Mayor Lee Leffingwell, who will head the group. With a much different membership - all but three are new members - that includes elected officials from surrounding counties, that group will kick off a new round of transit talks at a meeting this afternoon. The mission, according to new member, John Langmore, is to take the area's amorphous and various transit and toll lane planes and, in conjunction with a Capital Metro-run study called Project Connect, formulate a more concrete regional blueprint by May. Read more...

11/01/2011 austin: ranks high in national indicators

Barely a week can pass without a group or publication ranking Austin as one of the leading cities in the nation for one category or another. It's been rated as one of the best places to live, one of the best places to find a job, to start a business, to simply do business or just about anything else one can imagine. The reasons are many and the formula is complicated, but analysts quickly point to technology when searching for a simple explanation for the city's success. The tech industry rebounded from the dot-com bubble a decade ago to enable Central Texas to weather the Great Recession. As a result, the city has been adding highly skilled, high paying jobs that fuel the local economy. Read more...

10/31/2011 urban expert: downtown's strength, success key to supporting metro area

Although Austin has seen successful growth, its key to a continued successful future lies within its "heart" - downtown Austin - according to a speech given at a Downtown Austin Alliance event on Oct. 28 by urban community expert Carol Coletta. Coletta, the president of ArtPalace - a national initiative to accelerate creative placemaking across the country - said that although Austin has received praise for its management and growth, it now faces the challenge of continuing to sustain that success in future development. "The problem with success, I think, is that it is a hard act to follow," Coletta said. "The way you achieve success is not necessarily how you're going to achieve it in the future." Read more...

10/28/2011 city of austin, utility unite to offer more renewable energy

The City of Austin is within reach of its goal to have 35 percent of its energy come from renewable sources by 2020 after three new wind power contracts were approved in September. Austin Energy approved a 200-megawatt contract with Duke Energy Generation Services, a 91-megawatt contract with MAP Royalty Inc. and a 200-megawatt contract with Iberdrola Renewables Inc. The three contracts, along with Austin Energy's Webberville Solar Farm and a Sacul, Texas biomass facility, will bring the utility's renewable portfolio to about 30 percent by the end of 2012. "We are well on our way toward meeting our goal of 35 percent," said Mayor Lee Leffingwell. Read more...

10/28/2011 roadways in east austin see renewed development, support

The city's Neighborhood Housing and Community Development Department has worked since 1999 to improve the infrastructure of East 11th and 12th streets to facilitate business growth and quality of life, and current plans to continue improving the area are not slowing down. With the help of the Urban Renewal Agency and the Austin Revitalization Authority, "there has been significant change," said Gina Copic, NHCD Department real estate development manager, on the infrastructure improvements made in the area. Copic said the city has put out a request for proposals on two blocks owned by the city on East 11th Street. The city hired several consultants, including Darin Smith, principal at Economic and Planning Systems in Berkley, Calif., to assist in developing a strategy for East 12th Street. Smith's firm helped create the master plan for the Mueller development and has been involved in revitalization projects further into East Austin. Read more...

10/27/2011 a new look for east riverside? austin to highlight plan

A city plan to transform the East Riverside Drive corridor into a more vibrant, urban mixed-use neighborhood is reaching another milestone. The City of Austin will host a community open house today as it launches a transportation study of the corridor, part of a city master plan to remake the 3.5 mile-long roadway between Interstate 35 and Texas 71. "The vision is to transform the area from an auto-dominated, aging corridor to a people-oriented destination with lots of people living, working and playing within walking distance of transit," said Erica Leak with the city's Planning and Development Review Department. Read more...

10/27/2011 new convention center hotel holds ground breaking event downtown

White Lodging Services Corporation broke ground today at a downtown site to build its 296-room convention center hotel that is scheduled to open for business in spring 2013. Hyatt Place Austin Downtown - which is being constructed in the vacant southwest corner lot at Third Street and San Jacinto Boulevard - will be White Lodging's 21st hotel in Austin. According to hotel representatives, Hyatt Place Austin Downtown will add 250 construction jobs and 95 permanent jobs to Austin's core employment base. Read more...

10/27/2011 report: Austin listed among top 5 markets to watch in 2012

Austin snuck into the top five markets to watch next year, according to annual Emerging Trends in Real Estate report from PricewaterhouseCoopers LLP and the Urban Land Institute. The Capital City was ranked No. 2 on the list following Washington D.C. San Francisco, New York City and Boston rounded out the top five. Although Austin is one step removed from global pathways, it registers significant interest on investor radar screens and has all the ingredients needed to deal successfully with the nation's 21st century realities, the report said. It also gave Austin a one up on its Texas neighbors because unlike Dallas and Houston, the city also develops a 24-hour core, featuring pedestrian-friendly, in-town apartment neighborhoods with plenty of nightlife attractions. Read more...

10/26/2011 former el arbol space sold to parkside owner

The restaurant space that housed El Arbol has been bought by an Austin chef and restaurant owner. Shawn Cirkiel is owner of Parkside, located at 301 E. Sixth St. and Backspace, at 507 San Jacinto. He purchased the property, located at 3411 Gelnview Ave., for an undisclosed price this month. El Arbol, along with The Belmont and Hickory Street, all closed their doors in September. Read more...

10/22/2011 condo tower sales show appetite still strong for living in downtown austin

As Austin's skyline underwent a momentous change during the past decade, some Austinites wondered whether there would be enough people to fill in all the new towers adding hundreds of residential units downtown. Judging by the latest condominium sales figures, the towers are filling surprisingly well, given their high price points, experts say, and demand for downtown living is continuing. From January through September, buyers purchased and moved into 251 units in the four newest downtown projects - the Four Seasons Residences, Spring, The Austonian and the W Residences - and the largest condo project just outside of downtown, Barton Place, according to Austin-based Capitol Market Research, which tracks the market. That compares with 198 closings at those projects during 2010, said Charles Heimsath, the Capitol Market Research's president. Read more...

10/18/2011 after years of delays construction in sight for areas in seaholm district, officials say

Two long-awaited projects that developers say will help transform downtown Austin are poised to break ground next year, a city official said Tuesday. After several years of delays due in part to a recession that dried up financing for development, construction is expected to start on redevelopment projects at the former Seaholm Power Plant and the site of the former Green Water Treatment Plant east of Seaholm, said Fred Evins, the city's project manager overseeing the public-private projects. "The stars are aligning," Evins said. The projects will transform the decommissioned plants on downtown's southwestern edge into lively hubs with shops, hotels, condominiums, apartments and other development. Read more...

10/12/2011 city panel votes to save downtown tree

A city panel decided Tuesday night not to approve chopping down a 57-foot pecan tree in favor of a high-rise office and residential tower downtown. The 5-4 vote by the city's Planning Commission ended a months-long process that began when Cerco Development proposed building a mixed-use office and residential building up to 400 feet tall near the southeast corner of West Fifth and Bowie streets. Officials with the developer, Endeavor Real Estate Group, declined to comment on whether it would pursue a scaled-back building plan that would preserve the tree on the nearly 1-acre property. Read more...

10/10/2011 with more growth planned, facebook doubling its space in austin

Less than a year and a half after it opened an Austin satellite office, Facebook Inc. is doubling its space here. On Friday, the world's largest social media network will move into a second floor at its high-rise offices at 300 W. Sixth St. The move will enable the company to potentially double its local employment of about 150 people. The company gave no time frame for that additional hiring. Read more...

10/06/2011 austin a strong candidate for sears relocation

Austin should know by the end of the year whether Sears Holdings Corp. will move its headquarters from Illinois to Texas. Company officials visited Austin and Columbus, Ohio, according to sources close to Sears. Company officials conducted various site tours in each location. Those sources also said both cities offer desirable and strong quality of life that appeals to Sears. At the same time, officials in Ohio and Texas appeared eager for Sears to move there and both are offering generous incentives, the sources said. Read more...

10/05/2011 construction on f1 track resumes

Construction resumed Tuesday at the Formula One race track being built southeast of Austin after a near-stoppage that lasted for weeks, a delay that raised questions about the future of the $300 million project. "We just started back today," Max Chapman, construction manager for the project, said Tuesday. Chapman said contracts in excess of $100 million were authorized Tuesday and should cover most of the remaining construction. "That's mechanical, electrical, concrete frame, all phases of the project," he said. "It's the last big piece." Read more...

10/04/2011 acc moves forward with highland mall renovation plans

Austin Community College trustees voted Oct. 4 to take the first steps toward renovating two former department stores at Highland Mall. The former J.C. Penney will be turned into classrooms and Dillard's will become administrative space. Trustees authorized ACC to select a construction manager at risk. Seven board members voted in favor and two abstained from voting. During the discussion of the Highland Mall items, trustee Nan McRaven voiced uncertainty about the community college's needed to renovate the buildings at this time. According to ACC staff, having instructional space will allow the community college to temporarily relocate classes there while they renovate other campuses. Read more...

10/04/2011 austin's newest urban apartment complex underway, a model of sustainable development

BOKA Powell LLC announced today that a new full-service sustainable apartment development called "RiverView" near downtown Austin is under construction. The complex sits on a four-acre waterfront site along Lady Bird Lake with spectacular city and lake views, and is slated to open spring 2013. BOKA Powell provided the planning, architectural design and interior design services for this 280,000 square foot project, which includes 302 apartments, luxury amenities, including a fitness center, resort-style pool, resident lounge, demonstration kitchen and business center, as well as access to hiking/biking trails. Four contemporary buildings ranging from five to 11 stories are clustered around a lushly landscaped courtyard and pool deck. Read more...

10/03/2011 221 homes will be added to mueller site

More rooftops will begin rising next summer at the Mueller development in East Austin, with several builders poised to start construction on 221 homes, townhouses and condominium units. The new residences will be built just east of the future town center at Mueller Austin's former airport site that Catellus Development transformed into a 711-acre mixed-use project. Catellus plans to break ground on roads, utilities and lots this fall, with the first homes set to be ready for residents by the end of 2012. The additional houses - to be built by David Weekly Homes, Standard Pacific Homes, Streetman Homes and a fourth builder to be announced in the coming months - will bring the number of residences at Mueller to more than 1,600 in nine varied home styles. Read more...

09/28/2011 survey reveals more people are visiting austin

More people are visiting Austin and spending more money, a recent report commissioned by the Austin Convention and Visitors Bureau concluded. The number of people visiting Austin last year increased 16 percent from 2009 to 19.8 million and they spent $3.9 million, an increase of 11 percent from 2009. Last year, tourism provided the Austin economy with 37,900 jobs and employees earned $927 million. Read more...

09/27/2011 near approval, officials halt downtown austin plan vote

After years of community development and review, City of Austin planning staff came before City Council in August to brief officials on the Downtown Austin Plan, a long-awaited culmination of guidelines, recommendations, and ordinances that will guide the city's downtown district through its expected upcoming growth. Although the plan was expected to be adopted Aug. 25, the issue of density management has divided City Council, causing the group to delay its adopting vote until November. The DAP calls for several changes to the downtown district, which encompasses 1,000 acres of land between Lady Bird Lake, Martin Luther King Jr. Boulevard, I-35 and Lamar Boulevard. Amid its recommendations for improved historic preservation, transportation, utilities and parking, it also includes recommendations for density management, the topic causing the most contention for council members as they inch closer to the plan's approval. Read more...

09/27/2011 mellow johnny's, campo unite to seek funding for city bike-sharing program

Austin bike shop Mellow Johnny's, located at 400 Nueces St., and the Capital Area Metropolitan Planning Organization are coming together to provide the city with a public bicycle-sharing program funded by a federal grant. The bike shop, which has a mission to get more people on bikes - primarily in the downtown area - is vying for part of a $70 million federal transportation grant and bond through CAMPO. The bond, which will be decided Oct. 10, has allocated 15 percent of the funds to pedestrian- and bicycling-targeting projects. Read more...

09/26/2011 downtown austin's 2nd street district earns international economic award

Downtown Austin's 2nd Street District earned international acclaim Sept. 20 when the International Economic Development Council presented the district with its Excellence in Economic Development Award for communities with more than 500,000 residents. "We are please to be recognized at a global level for these efforts," said Kevin Jones, director of the city's economic growth and redevelopment services office. "This award is especially meaningful in a climate [of] prevalent poverty and unemployment. Our award-winning programs will continue to create balanced economic vitality approaches that create jobs and improve the city's economic sustainability." Read more...

09/23/2011 urban wine & liquor coming to the austonian

Urban Wine & Liquor, a new 2,615-square-foot retail concept from Austin-based wine expert Buckley Windhot, is coming to the base of downtown luxury condominium high-rise The Austonian. The store is projected to open later this year. Designed by Bercy Chen Studios, the store will offer wine, spirits, beers, barware, imported cigars and cigarettes, and artisanal foods including locally produced items. The store will include a tasting station. Read more...

09/23/2011 downtown austin apartment tower to replace old whitley building

Demolition work has begun on the former Whitley Printing Co. building at East Third and Brazos streets in downtown Austin to make way for a 16-story tower with 277 luxury apartments planned by Austin-based Riverside Resources. In addition, Endeavor Real Estate Group said Thursday that it plans to build 350 apartments in a previously announced tower planned for West Fifth and Bowie streets. Jamil Alam, a principle with Austin-based Endeavor, said the building will have about 34 stories and will include 45,000 square feet of office space. Read more...

09/20/2011 texas takes top spot for best business climate

Texas, North Carolina and South Carolina are viewed as having the best business climates among the 50 states, according to a new survey of U.S. executives. California, New York and Illinois are listed as the U.S. states with the least favorable business conditions, according to the poll by the New York-based Development Counsellors International. Texas was the clear-cut favorite among the survey respondents, with 49.4 percent naming the Lone Star State as having one of the most favorable business climates. Read more...

09/14/2011 austin job market among strongest in U.S.

Employers in the Austin-Round Rock area expect slightly stronger hiring levels this fall, according to a Manpower Employment Outlook survey. Austin was ranked fifth on a list of U.S. cities with the most healthy employment outlooks. Among the companies surveyed, 71 percent will maintain headcount, 19 percent plan to increase staff levels, while eight percent will reduce workforce. Read more...

09/08/2011 details emerge for lamar plaza redevelopment

A site plan filed at Austin City Hall contains new details about the planned redevelopment of Lamar Plaza, which is home to iconic businesses such as the South Austin Gym, Alamo Drafthouse and The Highball nightclub. The shopping center was built in the 1950s and sources said that when it's redeveloped, Alamo Drafthouse and The Highball will have newer - possibly larger - homes. Developers from Greystar Real Estate Partners plan to transform the eight-acre site into an ambitious new mixed-use development with residential, retail as well as a large restaurant component. Read more...

09/01/2011 h-e-b plans first-of-its-kind green store at mueller

The wait for an on-site supermarket is almost over for residents of the Mueller development. H-E-B, the region's dominant grocery chain, put an end to years of speculation Wednesday, announcing it will build a first-of-its-kind green store at Mueller, part of a 110,000-square-foot shopping center planned for the southeast corner of East 51st Street and Berkman Drive. Work on the 75,000-square-foot H-E-B will begin late next year, and the store is scheduled to open in 2013. Details on the store's look and feel, as well as its selection of unique to Mueller offerings, are still being worked out, the grocery chain said. Read more...

08/29/2011 acc plans for highland mall envision 'new urbanist' development

In planning the future of Highland Mall, Austin Community College and its partners envision a "new urbanist" setting with classrooms, administrative offices and a mix of residential, retail and other commercial development. The portrait of a thriving public-private complex with perhaps 1,250 residential units and patches of open space emerges from four concept plans produced as the college acquired all of the land and some of the buildings at the North Central Austin site in a series of transactions totaling $41 million. Read more..

08/29/2011 new date for f1 confirmed?

Here's a huge clue that the inaugural date for Formula One racing in Austin will be moved from June to later in the year: Local promoters for the race have officially - though temporarily - withdrawn their application to tap $25 million from an economic development fund administered by the state comptroller's office. A spokeswoman for Comptroller Susan Combs said the America's Local Organizing Committee officially requested that its application for trust fund money be withdrawn last week. But she added, "We anticipate that they will send a new request at some point." Read more...

08/26/2011 city vision for downtown: better parks, urban rail, cheaper housing

Picture downtown Austin with spruced-up parks, urban rail, more tree-lined and wider sidewalks and moderately priced housing. Those are some of the ideas described in a $1.6 million master plan that the City Council may consider today. The plan lays out a vision for transforming downtown that would cost as much as $350 million to carry out over the next decade. It's not clear where the money would come from, but the likely options are fees, bond elections or partnerships with private companies. Among other things, the plan calls for improving downtown parks such as Brush Square and Waterloo Park, adding lower-priced housing and services for homeless people, preserving historic buildings, changing zoning rules to encourage a greater mix of uses and creating an economic development group that can guide growth in the urban core. Read more...

08/25/2011 senator watson forming group focused on congestion in c. texas

State Sen. Kirk Watson, D-Austin, is forming a committee to look at ways to deal with congestion in Central Texas. The working group will consist of state and regional transportation agencies, the Austin Chamber of Commerce, the city of Austin and the Downtown Austin Alliance. During the 2011 legislative session, lawmakers distributed the money from the Proposition 12 bonds approved by Texas voters in 2007. Of this funding, $300 million has been designated to develop future mobility projects, and Travis County received $31 million of that to be used on the most important transportation projects in the region. "This project will lay a foundation of basic infrastructure that can help propel Central Texans' economy and quality of life for a generation," Watson said. "It will play an important role in the development of a truly comprehensive transportation system that will give our commuters room to move, our economy space to grow, and our people time to spend with their friends and family - not to sit in traffic." Read more...

08/23/2011 sxsw 2011 economic impact: $167 million

South by Southwest 2011 pumped more than $167 million into Austin's economy, according to figures released today. That represents a 47 percent increase over the $113 million generated by SXSW 2010. A report from Greyhill Advisors shows that SXSW-sanctioned events - including panels, concerts, and film screenings - drew 286,000 people this year. Many of those attendees were out-of-towners who booked 47,500 room nights at local hotels. Read more...

08/18/2011 will austin become known internationally for sports, not music?

Austin may bill itself as the live music capital of the world, but not everyone buys, or has even heard of, that hype. "If I say to the next person (in Australia) that I was in Austin, they'd probably say, where?" said Craig Gabriel, a Sydney-based freelance journalist. Gabriel travels the world covering professional tennis, and in July was in Austin for a match between the United States and Spain. That Davis Cup tie, which was a sellout at the Erwin Center, was a truly international event. There will soon be more on the way. Read more...

08/12/2011 ailing austin lyric opera to sell site near downtown

In an effort to get on firm financial footing, Austin Lyric Opera is selling its property on Barton Springs Road. "After a rigorous analysis in past months, the board determined the current property does not match the future needs of the organization," said Jo Anne Christian, chairman of the board. "This is a long-term, strategic move in order to gain efficiency and sustainability." Read more...

08/11/2011 austin city council oks tarlton 360 development

In a 7-0 decision Thursday, the Austin City Council gave its stamp of approval to the proposed Tarlton 360 mixed use development planned for the site of the former Cinemark movie theater near the intersection of Walsh Tarlton and Capital of Texas Highway. The City Council approved the site plan for the development, which will include 226 residential units, 75,000 square feet of office, 8,300 square feet of retail development, a restaurant and a parking garage. Including in the site plan were waivers for building on a slope and for buildings 53 feet in height. Read more...

08/10/2011 F1: ecclestone confirms november switch for austin

Bernie Ecclestone has admitted that next year's inaugural US Grand Prix will not be held in June as originally scheduled. Ostensibly, the move to November is to avoid the hot Texas summer, but cynics have also suggested it will give race organizers more time to build the bespoke circuit in Austin.Read more...

08/03/2011 Marriott Hotels & Resorts announces first marquis in Texas

At its scheduled opening in 2015, the 1,003-room Austin Marriott Marquis will be the largest hotel in the city and transform the Austin's meeting and convention market. Owned and operated by White Lodging Services Corporation, the hotel will join five other landmark Marriott Marquis hotels in New York, Atlanta, San Francisco, San Diego and Washington, D.C. (2013). The Austin Marriott Marquis is scheduled to break ground mid-2012 and will offer 110,000 square feet of flexible meeting space. Read more...

07/21/2011 Developer of 2nd proposed convention hotel: 'We're doing it'

The San Diego developer planning to build a $350 million convention high-rise hotel at Cesar Chavez and Red River downtown said his company will build the project even if a competing downtown convention hotel planned by White Lodging Services Corp. moves forward simultaneously. The architect of Manchester's proposed project also said it has attracted serious interest from four potential operators: Hilton, Hyatt and Starwood, whose brands include the W hotels, plus a fourth unknown operator. Read more...

07/12/2011 Austin is #1 Big City for Jobs!

Forbes names Austin #1 again, this time as the best big city for jobs! It's no surprise with the amount of companies sprouting up in the Austin metro area... with major companies like Dell and Facebook already here and others like Ebay and Sony in talks of coming soon, Austin will easily become the best place for a new job.Read more...

07/08/2011 Jezebel, 2 other restaurants planned for new building on West Sixth Street

The owner of Restaurant Jezebel, which closed after a 2010 fire, is planning to revive the upscale eatery next year in the new Cirrus Logic headquarters going up at 800 W. Sixth St. Jezebel, which serves French-Indian-Caribbean fusion fare, will be one of three restaurants that Parind Vora is planning for the building, which is set to open in summer 2012. It will join a bar and grill and a coffeeshop, taking up about half of the ground floor. Read more...

07/07/2011 Forbes names Austin #1 City of the Future!

Austin is an "economic superstar" according to Forbes recent list for the next big boom towns. Four Texas cities made the list; No.1 Austin, No. 4 San Antonio, No. 5 Houston and No.7 Dallas. Looks like we are headed for a bright future! Read more...

07/06/2011 Austin named a top emerging commercial RE market

Austin was chosen as one of 10 "up and coming" commercial real estate markets by American Law Media's Real Estate Forum magazine. The publication, which is marking its 65th year as a commercial real estate source, gushed over the Texas capital's growing job market and increasingly lucrative music tourism industry. Read more...

05/31/2011 AMOA and Arthouse in talks of merge

Signaling a possible major shift in the cultural landscape, the Austin Museum of Art and Arthouse are to begin discussions of merging, leaders from both institutions announced Thursday. Read more...

04/28/2011 urban outfitters to open downtown store in W hotel complex

Urban Outfitters will open a store in downtown Austin in August, in the W Austin Hotel and Residences development north of City Hall. The popular purveyor of clothing, accessories and "apartment wares" that targets 18-to-30-year-olds will open a 9,931-square-foot street-level store, below the new Austin City Limits Live at the Moody Theater venue. Beau Armstrong, CEO of developer Stratus Properties Inc., said Urban Outfitters' "cutting edge" brand and products will complement both the W project and the larger Second Street district. Read more...

03/31/2011 SBA opens 504 refinancing to more firms

The Small Business Administration will allow more businesses to refinance their commercial real mortgages through its 504 loan program. The SBA initially restricted this new refinancing option to small businesses that faced balloon payments on their mortgages before Dec. 31, 2012. Beginning April 6, it will open the 504 refinancing option to businesses with balloon payments due after that date. Read more...

03/29/2011 Texas jobless rate dips to 8.2 percent in February

Powered by a fifth consecutive month of job gains, the jobless rate in Texas dropped last month. With a preliminary unemployment rate of 6.9 percent, Austin reported a lower rate than Dallas/Fortworth, San Antonio and Houston. read more...

03/25/2011 Davis Cup Coming to Austin this July

The World Group quarterfinal between USA and Spain will take place in Andy Roddick's hometown. read more...

03/24/2011 Personal Wine Opens Retail Store in Austin

Provider of personalized wines and corporate wine gift services has moved into its new home by the convention center. read more...

03/17/2011 Austin 2nd best job market in U.S.

Austin ranked high on another job market listing, taking the second slot on an employment outlook report released on Tuesday. read more...

03/16/2011 SXSW: Navigating a Texas Size Fest

When South By Southwest was launched in 1987, it was centered on the discovery of musical talent. In 1994, a few days devoted to new media and film were added to the agenda. Now the "interactive" portion is a huge draw. This year, more than 17,000 people are expected to have attended the five-day interactive conference. read more...

03/15/2011 Hotel Van Zandt moves ahead in Austin Rainey Street District

It's back on! According to the developer JMI Realty’s website: Hotel Van Zandt, initially planned in 2008, will be a 327-room, 16-story Kimpton Boutique Hotel in the Rainey Street area. read more...

01/28/2011 reshaping urban austin - the downtown austin plan

As the Austin City Council prepares to consider the Downtown Austin Plan this spring, unique population trends are surfacing, forcing local leaders and stakeholders to rethink how the city will continue to grow. read more...

01/10/2011 Austin Leads Country in Job Growth

CBS Evening News Special Report... read more

01/07/2011 Forbes names Austin 3rd best job market in U.S.

Austin has a number of assets that have helped it weather the downturn: It's a state capital and major convention center (especially for the music industry), the home of the University of Texas, and a tech hub. Read more...

12/17/2010 Austin's condo development outlook looking bright

Despite the downturn in the economy, the condo development outlook in Austin is looking bright. read more...

12/16/2010 Forbes names Austin top city for young adults

Texas towns fare well as New York's high costs offset cool environs. http://www.forbes.com/2010/12/15/best-cities-young-personal-finance-unemployment-nightlife.html?boxes=Homepagetoprated Read more...

12/06/2010 Downtown Austin carols away in springlike weather

Determined not to let lovely springlike weather deter them from their winter cheer, a crowd that appeared to be a couple thousand strong convened at the Capitol on Saturday night and merrily sang Christmas carols. Read more...

11/19/2010 Urbanspace + Coats for Kids

Urbanspace is partnering with Coats for Kids to keep the children of Central Texas warm this winter. Now through DECEMBER 1ST...drop off any used or new coats at our downtown office at 801 w 5th st., suite 100. We are accepting jackets of all sizes for all ages. Help make this holiday season warm and special for an Austin kid!

11/10/2010 Austin among America’s top recovery cities

Austin was picked as having the strongest job growth in the U.S., last year and during the last decade. Read more...

10/15/2010 Austin among best cities for jobs

Austin is among U.S. metropolitan centers ranked as the best for creating and sustaining jobs. Read more...

09/29/2010 Austin 9th highest population rise in U.S.

Austin was among the top 10 fastest growing cities in the U.S. between 2000 and 2009. Read more...

09/21/2010 Austin Restaurant Week in full swing

Dozen's of Austin restaurants are serving specials to benefit charity-- and local diners. Read more...

08/26/2010 Austin becoming Silicon Valley 2.0

Austin has quietly grown into a city that attracts -- and produces -- some of the most innovative companies in the country. Read more...

06/29/2010 austin named third most recession-proof city in America

Brookings Institute released their quarterly in-depth analysis. Read more...

06/15/2010 Austin ranked #2 in parenting.com's best cities for families

Check out this year's rankings of the best American cities based on health, safety, education, economy and recreation. Read more...

05/26/2010 Austin named top city in America for the next next decade

Austin is arguably the the country's best crucible for small business, offering a dozen community programs that form a neural network of business brainpower to help entrepreneurs. Don't discount the fun factor: In the self-proclaimed live-music capital of the world, music and business creativity riff off one another. Read more...

05/24/2010 Austin ranks among top fit cities, again

Austin was a listed among the country's healthiest cities on two rankings released last week and Monday. Read more...

05/10/2010 austin regional transportation plan nears approval

The plan embraces a new philosophy of transportation planning based on encouraging dense centers of development rather than continuing suburban sprawl. Read more...

05/05/2010 urbanspace is proud to partner with car2go

car2go, Austin’s new mobility program, today announced a new partnership with urbanspace, one of the city’s leading real estate firms. Read more...

04/30/2010 Facebook moving to downtown Austin

Facebook Inc. plans to begin moving into its new Austin home at 300 West Sixth Street on Monday, May 3. The company expects to employ 200 people in the downtown location within the next four years. Read more...

04/23/2010 Austin renewable energy plan sails easily through council

The Austin City Council, after months of debate about where the city should turn for its electricity in the future, adopted a plan Thursday to get significantly more power from wind, solar and other sources that do not emit greenhouse gases. Read more...

03/12/2010 austin hosting facebook welcome event this morning

Facebook Inc. is expected to officially announce its Austin expansion this morning, though city officials have already scheduled a welcome event at 10 a.m. Austin city council members approved a $200,000 incentive Thursday evening, which also locked in $1.4 million in state spending. Sources close to the deal said Facebook is still in the site selection process and is favoring downtown Austin. A company spokesperson has said that if the company does choose Austin, it will set up initial operations this summer. Read more...

03/08/2010 forbes: austin best economic recovery in u.s.

The Austin-Round Rock area tied for first on a list of large metros where the recession is easing. Austin has also maintained relatively lower jobless rates, though the number increased to 7.6 percent last month from 7 percent, according to the Texas Workforce Commission. Statewide, the rate was unchanged at 8.2 percent from December to January, compared to 9.7 percent nationally. Read more...

02/22/2010 driskill grill developers opening 2 austonian eateries

The partnership behind The Driskill Hotel restoration and Driskill Grill have planned two restaurants for the downtown Austonian luxury high rise. The 178-unit luxury condominium building — which claims to be the tallest residential building in the Western U.S. – opens in June and the two new eateries are expected to open this fall. The La Corsha Restaurant Partners is leading the new restaurants, reuniting Driskill developers Jeff Trigger, David Bull, Scott Walker and Jeff Rhein. Read more...

02/19/2010 council ok's incentives to bring legalzoom to austin

The Austin City Council unanimously approved an incentives agreement Thursday aimed at persuading LegalZoom.com Inc. to establish a regional headquarters that could bring 600 jobs to Central Texas over the next five years. The deal will pay Los Angeles-based LegalZoom $20,000 a year for 10 years, tied to job creation targets. The Texas Enterprise Fund, a state incentives fund, would provide $1 million. Read more...

02/12/2010 palisades complex 94% leased after massive lease

The 360,000-square-foot Palisades West Austin complex is almost fully occupied following the signing today of medical device and tech developer St. Jude Medical Inc. “We feel really fortunate. This is likely one of the biggest deals in Austin in at least 12 or 14 months,” said Tim Hendricks, (NYSE: CUZ) senior vice president for the office’s developer Cousins Properties Inc. Read more...

02/12/2010 austin construction activity to climb 30%

Texas' construction activity is expected to improve this year with Austin fairing the best, according to a McGraw-Hill Construction report Thursday. The 2010 Texas Construction Outlook shows construction starts value increasing 16 percent this year to $52.5 billion statewide. Austin is expected to experience the largest growth, rising 30 percent in value, followed by Houston, growing 17 percent. Dallas is projected to increase 16 percent and El Paso should add 8 percent value this year. San Antonio is expected to see 6 percent growth. Read more...

01/27/2010 chase tower downtown sold to dallas firm

Spire Realty Group is the new owner of the 35-year-old Chase Tower in downtown Austin, the first major office acquisition in Central Texas in more than a year. Dallas-based Spire said it is planning more large office acquisitions, including in Austin, over the next two years. Ruff said Spire likes the stability of the Austin market, particularly downtown, where it will look for other buying opportunities. "We like Austin. We want to be in Austin, and we plan on being there a while," he said. Several experts said the acquisition is good news for Austin — an omen of an improving office market and solid growth prospects for its economy. Read more...

01/27/2010 travis county to buy $63M austin office tower

Travis County moved closer Tuesday to what's likely its largest purchase ever, a 15-story, 315,000-square-foot downtown office tower. Commissioners Court officials said Tuesday the seller, Travis Realty Corp., accepted a $61,250,000 offer, plus closing and fees. The property located at 700 Lavaca Street includes a 675-car parking garage and is about a block from another government complex. Read more...

01/19/2010 texas could see early exit from recession, economist says

Texas will be "last in, first out" among states battling the recession, although a recovery that has already started will require patience, a leading economist says. The Lone Star State proved resilient because of advantages such as weather, stable home prices and a political climate favorable for companies seeking new places to do business, said Ray Perryman, head of the Perryman Group and a longtime Texas economist. Still, Perryman said Texas has seen its share of difficulty since the state got caught up in the national economic downturn in the summer of 2008. Job losses mounted last year, and the outlook remains bleak for commercial real estate. Read more...

01/13/2010 urban land institute ranks austin as a top 5 market for development in 2010

Austin, Texas: A growth bastion, Austin’s low state taxes and a pro business environment are expected to contribute to future growth and continuing corporate relocations. Austin fits the “brainpower” model with its state capital, large state university, and offshoot tech and software businesses. Read more...

01/06/2010 austin urban lifestyle guide (v2) is now available!

We would like to introduce the long-awaited, second edition of the Urban Lifestyle Guide, the only publication of its kind in Austin. We are excited about the amazing redesign and we are confident that this new edition will be invaluable in your search for the Austin property that is right for you.

The Austin Urban Lifestyle Guide provides a comprehensive overview of not only all the multi-unit residences but also the unique urban lifestyle spots within Austin urban core neighborhoods. Check out the excitement!

To request a free copy, send your full name and mailing address to reception@urbanspacerealtors.com.

01/04/2010 austin ranked best city to invest in commercial real estate

Austin has the best prospects for commercial real estate investment this year, a Grubb & Ellis Co. (NYSE:GBE) forecast reported today. The Santa Ana, Calif-based real estate services and investment firm said it expects commercial real estate will continue to falter this year, but at a slower rate, according to the 2010 forecast. Most property types will reach bottom pricing near the end of 2010 with a slow recovery beginning in 2011, officials said. Read more...

12/29/2009 building downtown density, toll roads created opportunities

t’s not hard to find evidence of the past decade’s commercial real estate growth around Austin. Industry experts point to a number of developments, physical and intangible, that have helped shape Austin’s commercial real estate over the last 10 years, from a concerted effort to build downtown density to new roads that have opened more land to development. For John Rosato, a principal with Austin’s Southwest Strategies Group Inc., two significant economic downturns coupled with periods of wild prosperity are among the biggest factors that have shaped the area’s commercial real estate industry. During the decade, Rosato has had a front-row seat to developments that have shaped parts of Austin during both downturns, as well. Read more...

12/21/2009 office/retail/condo high-rise proposed east of whole foods

Developers are seeking a zoning change to build a tower with 27 or 28 stories of condominiums and office and retail space just east of Whole Foods Market Inc.'s headquarters. The complex would be the biggest commercial project downtown since the Frost Bank Tower opened in 2004. Schlosser Development Corp . is proposing a tower with 90 condominiums in seven floors above 16 floors of office space, with parking and street-level retail. A companion building would have three levels of office space above ground-floor retail. The 2.7-acre site, currently used for parking, is bounded by West Fifth, Bowie and West Sixth streets and Shoal Creek. Read more...

11/12/2009 austin area tops city performance index

The Austin-Round Rock area was named the best performing city on the 2009 Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index. The index ranks U.S. metro areas based on their ability to create and sustain jobs, measuring employment, salary growth and technology output. Read more...

10/26/2009 austin ranked number 2 in businessweek.com's top 40 economies

Austin, a high-tech center, is also home to the University of Texas. Employment in the Austin metro peaked in the fourth quarter of last year. Gross metropolitan product peaked in the second quarter. Home prices grew 2.5% in the second quarter compared with the same period a year earlier. And the unemployment rate in June was 7.1%, up 2.6 points from a year earlier. Read more...

10/26/2009 small businesses ready to hire

Despite the nation’s unemployment rate hitting a 26-year high in September, many small businesses are getting ready to hire, according to a survey released Monday by Intuit Inc. Mountain View, Calif.-based Intuit (NASDAQ: INTU) said its survey found that 44 percent of small business owners polled are planning to hire new employees within the next 12 months. Read more...

09/30/2009 downtown restaurateurs holding up well during downturn

Downtown Austin is one of the few places in America that has seen the number of restaurants grow during the past two years. The full-service restaurants that offer a unique lunch or dinner experience to downtown’s core audience — business customers — and keep their menu prices modest will survive and grow the most, said Chuck Smith, founder of Moonshine Grill. Customers like Foster have helped increase sales 5 percent this year compared with last year for Moonshine Grill, Smith said. “Forbes magazine said that Austin will be one of the first cities to emerge from the recession,” he said. “My question is: What recession?” Read more...

09/29/2009 things looking up for congress avenue retailing

Leslie Gandy opened the Dress Shop last month at 315 Congress Ave., — the first women's clothing store on Congress downtown in more than a decade. Business has been brisk at the 1,500-square-foot store. "Congress is the main street of Austin, and it should have women's retail," Gandy said. Downtown's main street has struggled to revive its retail character even as other areas, such as the Second Street District, have grown and flourished. Read more...

09/24/2009 upscale riverside development a test case for lakeside high-rises

As part of a special zoning agreement, a developer who wants to build an upscale East Riverside Drive apartment complex has offered almost $4 million for low-income housing in Austin. But as the City Council prepares for a possible vote today on the plan, a last-minute question has emerged: Is $4 million enough? Grayco Partners says it's giving the city a generous contribution to offset the loss of 600 relatively low-cost units, in addition to enhancing public waterfront access and numerous other concessions. Read more...

09/24/2009 texas moves up in forbes' best states for business list

Texas improved its position on Forbes' Best States for Business this year. The Lone Star State ranked 8th on this year's list, up from 9th in 2008. Texas ranks No. 1 in the land for overall economic climate and third for growth potential. But the state ranked fairly low (39th) for quality of life and was 29th when it comes to cost of doing business. Read more...

09/23/2009 four new businesses are coming to the mueller development.

Mr. Bone's Barbecue, frozen yogurt concept Yo So Cool, Central Texas Pediatric Dentistry and EyeMasters are joining the retail mix that includes Bed Bath & Beyond, Home Depot and others. "Mueller is emerging as a strong business and community center for the city of Austin and that kind of growth is encouraging for entrepreneurs like myself looking for a great place to do business," Goode said. Read more...

08/05/2009 retail leasing market hangs tough during downturn

Central Texas' retail market is holding its own during the recession, with occupancy at midyear at 92 percent, down from 92.5 percent a year ago, a new report says. The Austin area "continues to see one of the most active leasing markets in Texas," spurred in part by job growth that, until recently, had remained in positive territory during the economic downturn, according to the Weitzman Group, a Dallas-based retail brokerage firm. Read more...

07/23/2009 texas ranks second best state to do business

Fueled by record high energy prices, Texas is America’s Top State for Business in 2008. It is not a huge climb—Texas was number two last year. Just like last year, our study shows Texas has the best all-around economy in the nation. But the Lone Star State made strides this year in Transportation—where it went from number five to number one—as well as Business Friendliness, Cost of Living and Quality of Life. Read more...

07/09/2009 new executive suites space opens on congress

Commercial real estate firm T. Stacy & Associates Inc. has launched an executive suite in its downtown Austin Centre building at 701 Brazos St. Austin Centre Executive Suites spans the entire remodeled fifth floor of the Austin Centre office building and includes 80 fully-furnished suites. The suites also have four conference rooms, three kitchens, a mailroom, shared office equipment, virtual office capabilities and secretarial services and centralized phone-answering capabilities. Read more...

06/22/2009 downtown development forum & networking event

urbanspace commercial team would like to thank those who joined us at our discussion forum and networking event at the urbanspace Downtown office and threshold Interiors.

In particular, we would  like to extend a warm "thank you" to our guest speaker, Diana Zuniga, for her presentation on the Austin Downtown market and its developments.

Lastly, we would like to thank our sponsors - Whole Foods, Paula's Texas Spirits, and The Monarch - for their graciousness and support of this event.

04/17/2009 austin fighting back; jobless rate drops for 2nd month

For the second consecutive month, Austin's unemployment rate has decreased as the region tries to regain the losses it's sustained in the recession. Austin added 5,100 jobs in the month of March, helping drop the metro area's unemployment rate from 6.3 percent in February to 6.2 percent, according to the latest figures from the Texas Workforce Commission. Read more...

04/16/2009 Join urbanspace Realtors on Facebook and Twitter!!

urbanspace Realtors now has a "Friend" page on Facebook and a Twitter account where you follow Kevin Burns and receive up-to-the-minute information on happenings in the Austin real estate market!

Become a Facebook friend: click here

Follow us on Twitter: click here

04/14/2009 austin ranked best 'big city' for jobs by forbes

Of the 10 large cities with the best employment prospects, Austin is the leader. Job growth between 2004 and 2008 was a whopping 14.8%--and even between 2007 and 2008, overall growth remained in the black. Read more...

04/09/2009 retailers lead stocks higher

Stocks halted a two-day skid on Wednesday as hopes that retailers will report improved sales trumped worries about economic growth. The Dow Jones Industrial Average, which had declined almost 230 points in the previous two sessions, climbed 47.55 points, or 0.6%, to 7837.11. The S&P 500-stock index rose 9.61 points, or 1.2%, to 825.16, powered ahead by a 2.8% surge in its consumer-discretionary sector. Read more...

03/20/2009 austin 2nd fastest growing city in the nation

Austin was the nation’s second-fastest-growing metropolitan area between 2007 and 2008, according to new data from the U.S. Census Bureau. The population in the Austin-Round Rock area grew 3.8 percent to 1.65 million between July 2007 and July 2008. Among major U.S. metros, that growth rate was second only to Raleigh-Cary, N.C., which experienced a 4.3 percent population uptick during the 12-month period. Read more...

03/19/2009 texas still tops for business, ceo study says

Texas holds its place for the fourth year in a row as the best state to do business in, according to Chief Executive magazine. The magazine ranks the states on what it calls “a broad range of issues” including natural resources, regulation, tax policies, quality of living, education and infrastructure. Texas was giving top ratings for both transportation and economy, and was also noted for its access to capital and technology and innovation. Read more...

03/19/2009 is austin's second st. a success?

On a recent Friday night, the restaurants and bars in downtown Austin’s Second Street District were humming with activity as diners spilled out of doorways and took up tables on street corners. Carefree crowds of friends and couples flowed past new construction and existing stores. Read more...

03/16/2009 sba responds to treasury's aid

The U.S. Small Business Administration announced new initiatives Monday as President Barack Obama committed the Treasury Department to purchasing up to $15 billion in securities backed by Small Business Administration loans. Read more...

03/06/2009 chase tower to be sold

One of downtown Austin’s most visible buildings is going up for sale. The Chase Tower, at 221 W. Sixth St., will be on the market in two to three weeks, said Ross Crow, a senior vice president of asset management with Grubb & Ellis Realty Investors LLC. Grubb & Ellis owns 89 percent of the building, while Austin’s Endeavor Real Estate Group LLC owns the rest. Read more...

03/06/2009 CONGRATULATIONS to our Residential Real Estate 2008 TOP PRODUCERS!!!

WILL STEAKLEY, BRYAN CADY, KEVIN BURNS [team] - combined TOTAL SALES of over $60M

as the majority of the nation grapples with economic woes, austin's economy has fared well relative to the national average, especially with regards to growth in median home prices, employment and population. listed as one of "american best-value cities [forbes 2008], austin's strengths are reflected in the performance of urbanspace top producers, along with that of its entire sales team. Read more...

03/02/2009 Thank you to all who came and supported us Friday night!

We would like to extend a heartfelt "Thank You"to all who attended our Opening Celebration of our new Downtown Austin headquarters. It was a huge success and could not have been possible without the support of our clients and the Austin community.

In particular, we would like to thank our sponsors for their help and graciousness:Whole Foods Market, Paula's Texas Orange, Pepe's Tequila, Exquisite Petals,Red Bull and Annie Ray Photography.

We are excited about the opportunities that lie ahead for Austin, for urbanspace, and for the GREEN movement that has captured the interest and spirit of so many in our community. Our move into the new office marks a significant milestone for urbanspace and our continued commitment to GREEN living.

If you were not able to make it to our party Friday evening, please stop by any time and visit with us!

Checkout some of our Party Pics! Party Pics

02/17/2009 urbanspace realtors - we've moved!

urbanspace realtors announces the opening of our new downtown main office. We have now moved across the street into the monarch, a full green-star approved building. As Austin is growing, so is urbanspace. In the past six months, we have welcomed 12 new agents to our team. We are expanding in order to better serve our clients in this dynamic austin urban market. We would like to invite you to visit our exciting new home!

02/10/2009 block 21 to include office space in addition to w

Beau Armstrong, CEO and president of Stratus Properties Inc., will discuss updates to Austin’s Block 21 project, including the addition of about 35,000 square feet of office space to that development, at a CCIM Central Texas real estate symposium on Feb. 10. Read more...

02/10/2009 retailers favor mixed-use over strip centers

Coral Smith’s dislike for malls and strip centers prompted her to consider the funky new neighborhood called The Triangle just north of downtown when she was ready to open a second SoLa, her clothing boutique based in South Austin. Read more...

01/30/2009 more stores coming to austin, as retail leasing holds up amid recession

Austin has the strongest retail market in the state, but it will still feel the effects of the sharp national retail downturn and global recession that will lead to more store closings and bankruptcies in 2009, local retail brokers say. Austin's retail market had a 93 percent occupancy rate at the end of 2008, the highest level in Texas and up from 92.5 percent in mid-2008, according to the Weitzman Group, a commercial real estate brokerage. Read more...

01/27/2009 austin continues to be attractive to foreign real estate investors

In an increasingly volatile global real estate marketplace, Austin remains an attractive play for foreign investors looking for opportunities in the United States, a new report shows. The report from the Association of Foreign Investors in Real Estate ranks members’ top cities for U.S. and global investment in 2009. Austin ties for 11th place in the new survey, up from 16th place in 2008. Read more...

01/13/2009 stacey team secures $44M to redevelop congress block

Austin developer Tom Stacy and his partner Walton Street Capital have secured $44 million through the refinancing of an existing loan to redevelop a prime Congress Ave. block. The 30-month loan came from CapitalSource Finance LLC, and proceed will go toward future lease-up fund the property’s capital improvement costs. Read more...

01/09/2009 vacancies prompt extended austin renters market

A faltering economy and an ill-timed apartment construction boom in 2008 have created a renters market in Central Texas that's likely to continue through the end of the year. The occupancy rate among Austin-area apartment complexes fell from 96.6 percent in 2007 to 91.4 percent at the end 2008, resulting in the highest vacancy rate since 2004, according to Capitol Market Research. Read more...

01/02/2009 amoa's new home, museum tower project nixed

The economic downturn has claimed a major downtown Austin project as victim, the proposed Museum Tower office building and the Austin Museum of Art’s proposed new home. Hines Interests LP will not renew its option on the land owned by the Austin Museum of Art when that option expires this afternoon, the last day of 2008. That land had been slated for a 30-story, 425,000-square-foot office building dubbed the Museum Tower and a new home for AMOA. Read more...

01/01/2009 Ken Riggs: CCIM Third Quarter Edition of Investment Trends Quarterly

The tremendous volatility in the national economy has, of course, created havoc within the commercial investment real estate industry. When will the market get back to “normal?” That question was one posed to Kenneth Riggs, CCIM, in a discussion of the findings in the Third Quarter 2008 edition of the RERC/CCIM Investment Trends Quarterly report. Listen as Mr. Riggs offers a straightforward perspective on when volatility will subside. He’ll also comment on the troubled retail sector, and point out what markets offer investors the best opportunities in the months to come. Click for podcast

12/31/2008 sale of two office buildings is first big commercial deal since economic meltdown

Two high-profile Austin office buildings have been sold in the first large commercial real estate transaction in Austin since the economic slide deepened in September. Austin-based HPI Real Estate Services and Investments Inc. and Dallas-based Sarofim Realty Advisors closed on the purchase last week of Barton Oaks Plaza II and III, which are just south of Zilker Park on South MoPac Boulevard. Read more...

12/29/2008 austin icon bites the dust

The saga engulfing downtown Austin’s Las Manitas Avenue Café took one last step on Dec. 22, as demolition crews tore into the building that also had housed neighboring Escuelita Del Alma and the Tesoros gift shop. It is still unclear if the restaurant will reopen at another location. Both the school and Tesoros have reopened at new locations. Read more...

12/29/2008 21c gets glowing review by npr

Austin’s 21c museum residences and hotel may be on hold for now, but this morning NPR gave a glowing review of the original concept in Louisville, Kentucky. The NPR story incorrectly states that the Austin 21c is under construction; however, Marriott’s decision to not build 1,000 hotel rooms should reflect favorably on 21c’s pro-formas. 21c was originally planned for development at the Whitley paper building on 3rd and San Jacinto, however, plans changed to locate the building(s) at Red River and Cesar Chavez, along Waller Creek. Read more...

12/17/2008 robertson hill apartments sold

A New York pension fund has closed on the purchase of the 290-unit Robertson Hill Apartments. The unnamed group bought the recently-completed, Class A complex just southeast of I-35 and East 11th Street from Houston-based Roberston Hill Apartments LP. The purchase price was not disclosed. The property was developed by Martin Fein Interests Ltd., also of Houston. Read more...

12/16/2008 work to start on seaholm redevelopment late next year

Construction could begin by late next year on the $117 million redevelopment of the former Seaholm Power Plant in downtown Austin. The public-private venture is expected to transform the decommissioned power plant on West Cesar Chavez Street into a mix of shops, offices, condominiums, a boutique hotel and special-events space. Read more...

12/09/2008 austin to see modest job growth

Central Texas employers have modest plans to add jobs in the first three months of 2009, according to a Manpower Inc. survey set to be released today. The employment services firm, which surveyed a sample of employers in the country's 200 largest metropolitan regions, found that 15 percent of firms in the five-county area planned to add jobs in the first quarter of the new year. Read more...

12/01/2008 west campus boom

Long gone are the days of the West Campus portrayed on Richard Linklater’s Austin film “Slacker,” where shabby houses shared quiet streets with corner markets and vacant lots. Today high-rise condominiums, commercial and retail businesses are beginning to fill the streets as the city’s university neighborhood overlay plans for the area come to fruition. Read more...

11/24/2008 City OKs TIF zone for Seaholm redevelopment

The city of Austin approved the creation of a tax increment financing reinvestment zone to pay for public improvements for the Seaholm redevelopment project. The TIF will be within the area bounded on the west by the planned Seaholm Drive, on the south by Cesar Chavez Street, on the east by West Avenue and on the north by Third Street. Read more...

11/19/2008 frost bank tower's owner pleased with austin office-portfolio performance

Thomas Properties Group Inc., Austin’s biggest landlord, remains bullish on Central Texas. In a conference call with analysts this week, the company cited Austin, alonmg with downtown Los Angeles, Houston and Philadelphia, as markets that “continue to be very healthy,” even amid the economic downturn. Downtown Austint has been especially strong. CEO Jim Thomas said. Frost Bank’s occupancy rose to 89 percent in the third quarter, up from 77.8 percent in the second quarter, he said, and the company’s suburban properties “are basically performing well.” Read more...

11/11/2008 stalled project gets new owners

La Vista on Lavaca, a 66-unit, mixed-use project in downtown Austin where construction was halted earlier this year, has new owners who say they plan to resume work on the $30 million development soon. The Sutton Co. and two undisclosed local investors have purchased the partnership interests in the eight-story project at 17th and Lavaca streets, said Mac Pike Jr., a partner in the Sutton Co. with Wally Scott III. Read more...

11/04/2008 developer cuts plans for riverside drive project by a third

The economic downturn hasn't derailed plans for the biggest redevelopment project proposed along East Riverside Drive. Houston-based Grayco Partners is moving forward with most of its proposed 30-acre project between Riverside and South Lakeshore Boulevard, where it plans to replace blocks of aging apartments and retail strip centers with a dense district of townhouses, condominiums and higher-end retail. Read more...

10/30/2008 homeaway moving downtown

Schlosser Development Corp. announced on Tuesday that it will build a new 85,000-square-foot building downtown to house the corporate headquarters of Web-based vacation rental company HomeAway Inc. Read more...

10/10/2008 soco icon to move downtown

El Sol y La Luna, a South Congress Avenue institution since 1995, is moving to Sixth Street, where a larger restaurant will allow room for more seating, a dance floor and a stage for live music performances. "Sixth Street won't know what hit them," El Sol co-owner Nilda de la Llata said Thursday outside her new location at 600 E. Sixth Street, on Red River Street in downtown Austin. Read more...

10/09/2008 private equity fundraising on record pace

While public financial markets are in crisis, U.S. private equity firms not only continue to stockpile capital but have picked up the pace of their fundraising, according to a report Tuesday from Dow Jones Private Equity Analyst. Read more...

10/02/2008 lehman brothers bankruptcy creates questions over major austin office portfolio

Fifteen months after a joint venture led by Thomas Properties Group Inc. bought most of Austin’s premier office space in a record $1.15 billion deal, the future ownership of those buildings may be in question. Read more...

10/01/2008 downtown office building to be redone

After a dramatic renovation, 1300 Guadalupe, on the northwest corner of 13th and Guadalupe streets, will offer 55,000 square feet of sorely needed Class A office space in the urban core. The three-story, 36,000-square-foot building will be completely revamped with a new exterior and interior, two additional floors and upscale amenities such as a rooftop terrace with views of the Capitol. Read more...

09/24/2008 Sushi, wine bar headed for downtown Austin building

Two unique Texas restaurants are making their Austin debut at a downtown building near the convention center. Max’s Wine Dive and Piranha Killer Sushi are each leasing about 3,000 square feet at 207 San Jacinto St., the building just north of P.F. Chang’s on the corner of Third Street. Read more...

09/20/2008 austin job market holds up amid national slowdown

Austin's job market has slowed, but the region continues to gain jobs while many other parts of the country are losing them. The Central Texas job growth rate was 2.4 percent in August, meaning the region had 18,100 more jobs than it did a year ago, the Texas Workforce Commission reported. Unemployment was 4.5 percent, up a tenth of a percent from July and up from 3.7 percent a year ago. Read more...

09/09/2008 austin 2nd fastest-selling housing market in the us

After Sunnyvale, Austin, Tex., another high-tech center, comes in second at 68 days. The third-fastest-selling Zip is the Scripps Ranch neighborhood of San Diego, a wealthy inland market where listings were typically 70 days old, a span that would have been unthinkable during the real estate boom. Read more...

09/08/2008 boutique hotel and retail project slated for soco

A new 90-room boutique hotel will soon rise on South Congress Avenue. The mixed-use project designed by Dick Clark Architecture is planned for the half-block just south of the Congress Baptist Church and across the street from Allen’s Boots and Vespaio. The site, which is owned by the church, is currently a parking lot and home to mobile retail startup Hey Cupcake! Read more...

09/05/2008 zilker park condo project now includes hotel

Original plans for the project, announced in November, had 74 condominium units at the eastern edge of the park. The new design includes 40 condominiums and a 65-room boutique hotel whose operator Wooley said he's not ready to disclose. Read more...

08/21/2008 deal near on austin luxury hangars

The City of Austin is finalizing plans to let a California firm build luxury hangars at Austin-Bergstrom International Airport. Business groups say the hangars will help Austin recruit companies whose executives prefer to fly on private aircraft. Read more...

08/19/2008 austin will recover faster than the rest of the u.s.

In the coming year Austin will outperform the rest of the country in job growth and in the health of its housing market, according to Mark Dotzour, chief economist at Texas A&M University's Real Estate Center. Read more...

08/15/2008 austin-area median home price up

The Austin-area real estate market continued to outperform the nation in the second quarter of 2008, a new report from the National Association of Realtors said Thursday. Median home prices in the Austin area rose by 4.1 percent, to $194,200, from the year-ago period, while the national median fell 7.6 percent, the real estate group said. Read more...

07/18/2008 mckinney architects heads to east austin

Eyeing the commercial transformation happening in East Austin, McKinney Architects Inc. is trading in its downtown digs for a new office on East Seventh Street. The 25-year-old architecture firm recently bought the roughly 4,100-square-foot building at 1301 E. Seventh St. McKinney is renovating the building with move-in sometime in September.

The eight-story building is planned for the western end of West Fifth Street, which is becoming a newly revitalized gateway to downtown. Retail space and more than 300 apartments are under construction on the stretch of West Fifth between MoPac and Lamar boulevards that for years was lined mostly with car lots and warehouses. Read more...

07/13/2008 austin retail sector continues to outperform other texas markets

The retail sector remains a bright spot in Austin commercial real estate amid rising office vacancy and a potential glut of apartments. Read more...

07/01/2008 texas' commercial real estate market holding steady

Despite the downturn in the national economy, Texas' real estate market remains resilient as major metropolitan areas continues to post gains in employment and population. That's according to a report by Houston real estate valuation and consulting firm Lewis Realty Advisors. Read more...

06/30/2008 austin ranked 13th best u.s. city for building wealth

Austin ranks 13th among 69 U.S. cities as a place to build wealth, according to a survey from Salary.com. Another Texas city, Plano, tops the list, followed in order by Aurora, Colo.; Omaha, Neb.; Minneapolis; and Albuquerque, N.M. The 2008 Salary Value Index ranked New York City as the worst metropolitan area to build wealth. Washington, D.C., Los Angeles, Honolulu, and San Francisco rounded out the worst five cities. Read more...

06/27/2008 appraisers look at measuring the value of green

Real estate appraisers from around the country were in Austin earlier this week for a seminar on how green-building components can affect property values. Read more...

06/16/2008 condo boom gets south push on soco

Four urban living projects filled with condos and lofts are coming or expanding on South Congress Avenue, but they are a little less expensive than some of the developments just a few miles north, with prices starting in the low $100,000s. That is because they are all south of Hwy. 71. Read more...

05/29/2008 austin 6th on kiplinger's best cities list

Austin ranks sixth on Kiplinger's Personal Finance's newest list of top 10 cities in which to live, work and play. The list, published in Kiplinger's July issue, ranks cities based on the strength of their economies, abundance of jobs, reasonable costs of living and activities. Read more... Photo Close loading indicator

05/21/2008 matrix of downtown retail taking shape amid development

To the CEO of modern decor retailer Essenze, only downtown had both the cachet and the demographics that would work. "Austin is the creative center of Texas, and downtown is the place to be in Austin," says Cook. Read more...

05/18/2008 austin keeps truckin' on job creation

Providing more evidence of Austin's economic resilience, the region added 4,100 jobs last month with big gains in sectors such as hospitality and professional and business services. Read more...

05/07/2008 austin recession-proof?

Austin was named third on the Forbes.com list of the top 10 "Recession-Proof Cities" in the United States. For its part, Austin was lauded for being a hip town with one of the lowest unemployment rates in the country. Read more...

04/22/2008 its back: a proposal for light rail

A light rail system proposal from ROMA Design Group, a consultant hired by the city of Austin, will be unveiled tonight during a public meeting. Read more...

04/21/2008 cws reaches deal to build lakefront condos

Those opposed to CWS Capital Partners LLC's plan to build condos close to Lady Bird Lake have reached an agreement with the developer. The groups Save Town Lake and South River City Citizens have agreed to new plans by CWS to build three residential towers at 222 and 300 East Riverside at least 200 feet from the lakeshore and at a height of no more than 96 feet high. The buildings would conform to setbacks outlined in the Waterfront Overlay Ordinance. Read more... Photo Close loading indicator

04/10/2008 city plans for dense development around rail stops

When Capital Metro's commuter rail service begins rolling late this year, there will be little along the rail line to entice riders. Austin leaders say they hope to change that in the next few years by encouraging developers to build housing, shops, entertainment destinations and employment centers near the rail stops. The projects could generate more riders, reduce the number of drivers on the city's roads and increase the tax base from what are now largely aging or vacant commercial and industrial properties. Read more...

04/09/2008 patagonia to open retail store downtown

Patagonia, a manufacturer and retailer of outdoor clothing that was founded by a mountain climber, plans to open its first Texas store on Congress Avenue in downtown Austin this fall. The national retailer, which is opening a 7,000-square-foot store in the historic W.B. Smith Building, 316 Congress Ave., will be one of the only retailers of that stature to open on Congress in decades. Read more...