While real estate activity will slow because of the coronavirus, Austin went into the crisis on a strong footing and the market remains active.
Read on to learn more.
Lots of Apartments Coming to Downtown
According to the Austin American-Statesman, “more than a half-dozen high-rise apartment projects are in the planning stages or currently being built in the downtown corridor.” Among the projects is a 29-story tower going up at 700 E. 11th St., dear the Texas Capitol. Just east of the interstate, a 15-story apartment tower called the Huston is under construction called the Huston. It will have 387 apartments and is due to open in the summer of 2021. A 34-story mixed-use project that will have 298 apartments and more than 400 hotel rooms is going up at East Fifth and Brazos streets. And a 44-story apartment tower at the southwest corner of Fifth and Lavaca streets is due to be completed in the summer of 2022.
Land Development Code Meetings Delayed
Austin city officials announced recently they would postpone meetings and votes related to land development code revisions that were to take place in late March and early April, due to the coronavirus. “These are extraordinary times and public health is paramount,” according to a city statement. “We are continuing to discuss options for how to move the land development code revision process forward. We appreciate your patience as we work through adapting city operations.” The City Council had passed sweeping revisions to the city’s land development code on first reading in December and second reading in February and had hoped to have the changes approved in April.
New Development Planned Near Waterloo Greenway
A corner of downtown — East Fifth and Sabine Streets — that houses the now-closed Gas Pipe smoke shop will become the site of a 39,000-square-foot office and retail project known as Waterloo Central. Located in a Capitol view corridor, the building will only be five stories tall. It’s located along the Sabine Street Promenade and near the upcoming Waterloo Greenway improvements to Waller Creek. Waterloo Central will be easily accessible by the new new downtown MetroRail station currently under construction at Red River and East Fourth Streets, just a block away.
Impending Development in Lockhart
Lockhart could be getting some excitement in the form of a new development on the empty land near Blackjack Street and Old Kelly Road on the east side of the Caldwell County town. A proposed development would include offices, shops, restaurants on five acres and 74 acres for medium-density residential development.
Farmhouse Style Remains Popular Design Choice
Data analyzed by SellHouseFast.uk reports that farmhouse-style design is the most Googled type of interior decoration in the U.S., followed by “rustic.” “Scandinavian,” “vintage” and “industrial” round out the top 5. Interestingly, many designers are saying that farmhouse design has run its course and it’s time to move on. Other trends that need to go? Gray and white, according to the experts.
Is That Wolfgang Puck in your Kitchen?
Luxury apartments and condo buildings are always competing for buyers and tenants, and have added celebrity chefs and famous restaurants to the incentives they use, in addition to amenities such as concierges, pet spas and yoga studios. According to Business Times, developers around the world “have begun to use gastronomy to give their properties an edge in the market, forging relationships with culinary stars.”