There area quite a few exciting developments currently going on in the Austin real estate market. One of them is the new luxury apartment tower, Legacy at Town Lake. Located at the corner of Rainey and Cummings streets, Legacy is a 31 story, 187 unit tower. Building is underway by the California-based Legacy Partners Residential Development Inc., and their New York-based partner BlackRock Inc.
Needless to say, this project is huge, and one of the nice things about it is that the diversity of suites within it means it's accessible to a wide range of people. Suites will range in size between 650 an around 2,900 square feet, priced between $1,330 and $6,939 per month, depending on the level of luxury desired. There will even be nine units with subsidized rents, for tenants whose annual income is 80 per cent or less of the city's median income. In addition, there will be a 265-car garage. Legacy at Town Lake should be opening in the fall of 2008, and judging by the quality and diversity, it should fill up fast. Interested parties should consider reserving a suite while they still have some choice.
Legacy isn't the only exciting new development. There's also an 18-story, 232-unit residential complex going in on Second Street, and another near the corner of West Fifth and North Lamar.
Further, the airport area sub-market is an important one in many cities, and Austin will soon be joining their ranks. A new $50 million mixed-use development project is going in close to the Austin-Bergstron International Airport. Airport Gateway, as it will be known, is going to be situated on 58 acres on the south side of SH 71, by the Met Center campus. The project has been proposed by St. Croix Capital Corp. and is slated to include a hotel and 30,000 square feet of retail space. Remaining space will include a large industrial building and some empty one acre lots for the development of further building projects.
Finally, the 22-story building at 301 Congress Ave. has been purchased by the Houston-based Hines Interests LP. This building, located next door to the historic Davis Square, is already 3/4 rented for mixed-use retail. It features 24-hour security, attached parking, a fitness center, bank, meeting room, mail room and luxurious, pedestrian-friendly lobby and lower floor. Many retail suites are still available.
Austin is truly moving up, as un-used space makes way for real estate opportunities. If you want to get on board, don't hesitate to contact me for more information.
Restaurants In Downtown Austin
One of the more recent developments in the Austin real estate market are the multitude of loft condominiums springing up smack-right in the middle of downtown. This new push towards urban living reflects an interest in a pedestrian-oriented community, optimal for those who work in Austin's business center, but also attractive to others who appreciate an abundance of amenities offered within walking distance. Downtown Austin has much to offer Austin residents, whether they work, live, or visit this area which truly represents the cultural heartbeat of the city.
Austin's downtown is bursting with shops, cafes, galleries and nightlife. Whether looking for antiques at the beloved Whit Hanks, seeking esoteric ethnic treasures at Tesoros, or shopping for home furnishings at Bella Home or Zanzibar, the shops are local, and the wares are unique. In addition to Starbucks, there are plenty of cafes around, including Little City, and Drogo's Cafe do Brazil. Art galleries, including Art on Fifth and Artworks, are scattered throughout the area, and the nightlife well, it can't be beat.
Most of the new lofts are far enough away from the entertainment districts to provide relative quiet, but are close enough to make a night out on the town just a short walk or cab ride away. The bars, music venues and restaurants of the famed Sixth Street district now have competition from the bustling young crowds of the Red River scene. The Warehouse District continues to be one of the most vibrant entertainment areas in the city, although the new 2nd Street shopping and dining area is thriving as well.
Downtown Austin is home to some of the finest restaurants in the city. Louie's 106 has enticed downtowners with its Mediterranean tapas and steaks for years, and the Driskill Grill offers another close fine dining experience. Eddie V's and McCormick & Schmick offer seafood, and Sullivans, Ruth's Chris Steak House and Fleming's are steak houses. The varieties of food run the gamut as well from Spanish food at Malaga, to Italian at La Traviata, from sushi at Kenichi or Kyoto to Southwestern cuisine at Z-Tejas.
One the most attractive parts about Austin's downtown is its proximity to the nature and beauty found at Lady Bird Lake, as well as the Town Lake parks and trails. The plentiful outdoor activities provide the urban dweller with opportunities to walk, run, bike, and boat - all within walking distance of the sleek and sophisticated apartment buildings springing up. Waterloo Park, Republic Square, and other smaller patches of green add to the options for outdoor activity.
Downtowners will find their grocery needs admirably met by the flagship store of the Whole Foods Market chain. This Austin-based business launched their enormous new store in 2005, making fresh and organic produce, dairy, meats and seafood available. In addition to staples, an on-site bakery and international groceries, Whole Foods offers an abundance of prepared foods, from soups, salads and sandwiches, to pizza, seafood and a raw foods stand.
With all of life's necessities within walking distance, it is no wonder that Downtown Austin real estate is thriving as a residential community.
Both Eric Bramlett & Ki Gray are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Eric Bramlett has sinced written about articles on various topics from . Eric Bramlett is a realtor & broker servicing the Austin TX real estate market. Eric provides elite service and information to clients interested in homes and propertie. Eric Bramlett's top article . Bookmark Eric Bramlett to your Favourites.
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