Three scenarios were presented:

Scenario A

Scenario A proposes no development on the site and allocates the entire parcel to parkland.  This Scenario addresses the parkland deficiency for the Crestview Neighborhood, however, it also entails significant financial challenges.  These challenges include acquisition, capital costs to deconstruct existing structures on site, constructing park amenities, as well as maintenance costs.  Without development, these costs would be incurred by the City with fewer chances for offset through a financial partnership.

Scenario B

Scenario B proposes the most density, incorporating a new dedicated street through the property to connect Crestview neighborhood with the Crestview Station, maximizing the portion of the property with the greatest building height allotment, and minimizing parkland to .5 acres as recommended in the Lamar-Justin TOD Station Area Plan and Regulating Plan.

Scenario C

Scenario C attempts to balance parkland and development to the greatest extent possible.  In order to provide viable affordable units on site, the development would need to hit a 200 unit minimum with additional market rate housing. This scenario also provides the option of including mixed use elements such as office and retail.  However, in order to respect compatibility setbacks and the connection to the transit station, Scenario C locates the highest densities at the northeastern most portion of the site.  This decreases the amount of visibility for retail making it harder to sustain.

YNN recently reported that some Crestview residents were pushing the City for Scenario A. Indeed, a group calling themselves the “Crestview Park Coalition” – describing itself as “The Crestview Neighborhood Association along with volunteers from the neighborhood and surrounding areas, are working with City Council, the Parks and Recreation Department, and other local leaders to have the entire Austin Energy property at 6909 Ryan Drive designated as public parkland,”  has called the report’s description of Scenario A simply an “obligatory nod” and a scenario that is “quickly dismissed” in the report.

Broker-Owner Jude Galligan discusses why REATX supports DANA and the Downtown Living Tour in this video:

REATX fans!  Use the discount code DLTREATX to receive $5 off your pre-ordered ticket! Direct link to the discount here!

The video has a couple of small errors in it (for instance, Michael Icenhauer states that the RNA voted to turn Rainey into a commercial area – which is actually not true. The RNA was not formed until 2010-2011 and is mostly comprised of residents in the newer high-rise buildings that were built in 2006-2007 – and was formed partly as a reaction to the growing number of cocktail uses in the area – Lustre Pearl was the first bar, and was opened in 2009, along with Icenhauer’s, while the rezoning was voted on in 2004, and was mostly voted on by owners of the original lots that have since been leased / sold to the bar operators – so, two very distinctly different groups of people with two distinct points of view and agendas), but is a good general introduction to what’s happening in the district – and a good starting place to learn about the different parties involved.

Not Just Fun on Rainey Street from The Daily Texan on Vimeo.

Mini-timeline (editorialized with some educated assumptions):

• 2004 – Lobbied by owners of the lots (perhaps seeing an opportunity to increase their property values, and sell to developers – who in turn would build high-rises), City Council rezones Rainey to CBD (Central Business District).
• 2006-2007 – Developers build a couple of high-rises in the area, The Shore Condos, Milago Condos.  Hundreds of people of purchase and move in to these condos nestled in a quiet area of downtown.
• 2007-ish – Real Estate market declines.  Commercial loans to build become difficult to get, and developers are nervous about overbuilding and over-leveraging.  Development ceases in the area.
• 2007-ish – 2008-ish – Lot owners begin to realize that they are likely not going to be able to sell their land off to developers at high asking prices.  With the guidance of real estate brokers, they start to look for other ways to realize profits from their land.  CBD allows them great flexibility, but parking requirements and other infrastructure restrictions limit truly viable uses.  Bars are one of the few permitted uses that actually meet all the necessary criteria for the City and potential buyers / tenants of the properties.
• 2009 – Lustre Pearl opens. Soon followed by Icenhauer’s + several others.
• August 2010 – Lustre Pearl gets an Outdoor Music Venue Permit, which is extremely inexpensive and easy to get.  There’s no real review process and no stakeholder feedback is requested.
• Late 2010, early 2011 – Rainey Neighbors Association (made up mostly of folks living in The Shore, The Milago and The Villas (built in 1982) forms, partially in reaction to the OMV and as a vehicle for folks living in the area to have an influence on the shaping of the district in which they live.

Recently, in response to growing concerns about the quality of life for those living in the district before the district became an entertainment district, City Council voted to cap the number of cocktail uses in the district.

As someone who lives and works in the Rainey Street District, it’s my anecdotal understanding that many of the people living in the high-rises and condos here do not have a problem with bars and restaurants operating in the area.  Many of us are patrons of some of these establishments.  I do believe many residents would like to see a balance of uses in the neighborhood, and would like to see the proper infrastructure in place to support high-traffic.  And I do think its completely appropriate for the people living in the area to try and exert some influence on what type of development is built around where we live.

Pinkberry.

Yeah, that’s right – get ready to stand in line for hours for some delicious frozen yogurt.

Pinkberry opening in Vegas, 2012

I did a few seconds of internet research (exhaustive journalism, I know – but you know, we are talking about a Pinkberry, folks), and saw an article slating the Pinkberry chain to arrive last year, by franchisee Kurt Pederson (principle of Lone Star Swirls, according to his LinkedIn profile).  This time around, the press is stating that the first Pinkberry will be located at Westbank Market at 3300 Bee Caves Road (the shopping center with the Randalls).  So, that means, you can go to Chipotle for dinner and hop over to Pinkberry for a guilt-free dessert!  It’s the American Dream, people!

We’ve got the scoop on  Westlake homes for sale.  Get access to listings in Westlake Hills, TX – updated daily.

According to the release, there will be 31 pay stations activated along East Avenue, Rainey Street, Driskill, Davis, Red River, Cummings, and Lambie.

The key benefits from active parking management through pay stations include:
· More available on-street parking by creating turnover of short-term parking, and encouraging long-term users to utilize off-street spaces. Currently the Rainey Street district has about 300 available on-street parking spaces, with an additional 15 spaces being added on-street and 125 becoming available at the MACC parking lot.
· Improve safety for visitors with additional parking enforcement officers acting as extra “eyes and ears” for Austin Police Department.

While its likely that there will be some who oppose these meters, it’s likely to help increase turnover and available parking in the area, which is good for the residents of downtown austin condos like The Milago, The Shore, and Towers of Town Lake.

Central Austin parking is an issue that raises quite a few folks’ tempers.  Here are some other parking-related posts:

• Downtown Austin Parking Update
• Bouldin Creek Parking Update
• Parking Controversy in Downtown Austin

Exhibit A:  Dandy’s, The Gentelman’s Store

Website | Facebook  | Twitter

Dandy’s, The Gentleman’s Store. We offer quality and stylish 1870′s – 1930′s garb to fulfill any proper gentleman’s fancy. A bespoke suit, hat, or pair of shoes will look smart and a gentleman isn’t proper until he tops his look off with a handmade or vintage bow tie, a pipe in hand and a flask in boot.

I was told by the Owner that their shop should be up and running by next Friday.  This store is located at the ground level of the Brazos Lofts.

Exhibit B: The Good Life Barber Shop

Website

The Good Life Barber Shop is a traditional barber shop providing detailed, personal men’s grooming services including precision haircuts and straight razor shaves.

Also located on the ground floor of the Brazos Lofts.

Exhibit C: Handlebar

Website | Facebook

HandleBar is Austin’s newest and only moustache bar serving up good times by the glass.

 Across the street from the Brazos Lofts.

I actually came upon this item several months ago, but wanted to give a delayed shout-out to a piece of work that is not only pretty, but useful to your every-day real estate agent, the Neighborhoods of Austin poster.   It’s art and resource all in one.

Reading through the comments on other places this map has been posted, some people have pointed out a couple of neighborhoods are missing – Western Trails is one (bordered by Jones on the South, Ben White on the North, Westgate on the West, Manchaca on the East,), as well as Northwest Hills (bounded by the South by RM2222, Spicewood Springs to the North, and Mesa Drive to the West), but it looks like the map has most of the neighborhoods covered.  Swell job, Soap Factory Gang!

Some of our favorite places to live? We love homes in Crestview,  homes in Rosedale, and homes in Windsor Park.

During an evening of glamour and celebration, recognition is paid to emerging Austinites who excel in their prospective professions, as well as exhibit a solid commitment to community service. The awards ceremony serves to not only spotlight these individuals and their achievements, but more importantly, to raise money for charities that YWA and YMBL support- the YWA Foundation and the Austin Sunshine Camps.

For a full list of finalists in all categories, click here.  We’d like to congratulate ALL the finalists on a job well done, and we look forward to celebrating success and raising money for a tremendous cause!  For information on how to buy tickets to the event, click here.

Jude Galligan, REATX’s Broker-Owner, was interviewed by the Austin Post for this story as a downtown Austin real estate expert, where he explained the possible reasoning behind the Boomer trend and offered that many of these condos were in fact, second homes for those over 65.

“The kids are in college, they have big homes that are starting to fall apart in their stodgy boring neighborhood, and they want more,” Galligan said. “They have disposal income; they have the resources required in markets that are generally expensive.”

Read the full story here, which includes information on how Austin is working to remain a city friendly to an aging population, while still balancing the qualities that make the city attractive to young professionals.

The location is a slam-dunk (there, we got that pun out of the way), with great visibility in a high-traffic location near Austin’s urban core, but Austin Towers notes that the cyber presence has left a little to be desired.

Pre-leasing is supposed to begin this Spring, and average unit size will be about 800 sf.  No word yet on pricing, though we’re sure it will be aligned with the overall rental market in downtown Austin.