Music Lane Development Coming to South Congress

Music Lane is a mixed-use project developing on South Congress Avenue and will have a variety of tenants, which include retailers, restaurants and businesses. The project will cost $55 million and is located at 1009 and 1011 S. Congress Ave. Music Lane will be comprised of two three-story buildings and one four-story building, all designed by Lake Flato Architects.

Music Lane, which is named after the small street that serves as the property’s eastern border, is slated for completion in spring 2020.

The development has 163,000 square feet of space and will include 25 retail, office and restaurant tenants when fully leased. It will also have about 500 underground parking spaces.

One of the first tenants to sign with Music Lane was Soho House, a trendy, members-only social club that plans to open its first Texas location on SoCo. Soho House will include a hotel with rooftop and club spaces for members to work, eat, drink and relax.

Equinox, an upscale fitness club, has also announced plans to be a Music Lane tenant.

Other Music Lane tenants will include:

• Jewelry designer Nak Armstrong

• Manready Mercantile, an apothecary, candle and apparel store

• Tuft & Needle, specializing in premium mattresses, bedding and bedroom furniture

• Sustainable women’s clothing and accessory retailer, Reformation

• Luxury perfume retailer Le Labo

• Menswear retailer Buck Mason

• Mediterranean restaurant Aba

Music Lane; Endeavor Real Estate Group

Ditch the Suburbs and Head to Downtown ATX

I think we can all agree that Austin is a beautiful city, and downtown Austin displays the character of Austin in the very heart of the city.

Downtown Austin is endearing because it is so much more than just a concrete jungle. If you think about it, downtown Austin has everything that Austinites hold dear:

1. Lots of green spaces, trails and outdoor amenities

   -The glorious Lady Bird Lake

   -The 10-mile Ann and Roy Butler Hike and Bike Trail

   -The impressive Shoal Creek Trail

   -The beautiful Waller Creek Park

   -The vibrant Republic Square

2. Live music on 6th Street and at Austin City Limits

3. Easy access to world renowned festivals such as ACL and SXSW

4. Award-winning restaurants

5. Proximity to the University of Texas—Sports, Musicals, and Concert Venues

6. A Farmer’s Market

7. One of the nation’s best new public libraries

8. A heathy dose of weird

More and more residents looking to downsize are now ditching their tired family home in the suburbs and opting to buy a luxury, full service condo in Downtown Austin. With restaurants, shopping, coffee, museums, entertainment and parks steps away from your door, you won’t have to get in your car every time you want to get a cup of coffee or see a movie. Plus, many of these luxury condos provide full service amenities like valet parking and on-site concierges without any exterior maintenance hassles. All of this allows you to spend your time doing the things you love and gives you the ability to savor the vibrant downtown lifestyle.

Downtown Austin condos come in all sizes and price ranges. Anything from the high $200k’s to the millions is typical. If you want to stay away from the louder side of Downtown, try the Warehouse District near 4th Street where you’ll find the more upscale restaurants and bars. A few of our favorite luxury buildings are The Austonian, The W Residences, and Avenue Lofts.

It’s really quite simple. Many people - both empty-nesters and millennials - are looking to simplify their lives. 

• They value the ease of a "lock & leave" lifestyle

• They can spend their spare time doing the things that they love instead of typical house chores - lawn, home repairs, etc.

• They want to be be able to travel the world without having to worry about the security and maintenance of their home

• They want to be closer to their jobs, cutting out the commute

In short, people want to take advantage of the benefits of modern life. For many, this means leaving behind last century’s model of suburban living.

Are you interested in learning more about the Downtown Austin lifestyle?

Click below to find more information and available properties!

The "Lock-and-Leave Lifestyle"

More and more Austin residents have been combing the real estate market for “Lock-and-Leave” Communities, which are usually smaller homes with amenities or automation systems that enable an on-the-go lifestyle.

World travelers, empty nesters, & busy millennials are all craving this style of home ownership, built for convenience and security. Lock-and-leave living allows people to own a home while enjoying the freedom of very few maintenance responsibilities.  It gives the homeowner the freedom to lock the house up and leave for an extended time without having to worry about the yard getting overgrown or needing water while the owner is away. The monthly HOA fees at these communities pay for the landscaping of both the front and back yards, as well as the outside water. This type of “lock-and-leave” living has always been a primary advantage of condominium ownership, but more and more detached home communities are offering lock-and-leave security and maintenance services as part of a monthly fee, which can vary depending on the size and location of the housing unit (usually averaging between $150 – $400). For example, many times for “lock-and-leave” home owners, a yard is important for a dog to run around in, but having no yard work to do on the weekends is equally important!

Here are some common features of lock-and-leave communities:

1. Publicly maintained lawns and landscape maintenance

2. Public pools, golf courses, parks & walking trails

3. Security: Gated entry and secure entrances- these communities take extra precautions to ensure that when you lock and leave, your home is safe and secure.

4. Lower energy footprint-usually lock-and-leave homes are smaller garden homes with a lower energy bill & footprint, which save you money!

For available condominium homes, check out active listings here. If you are looking for some lock-and-leave detached home communities in the greater Austin area, try Belterra Village near Dripping Springs, the Cottages at Meadow Lake in the North Austin/Round Rock area, Southpark Meadows in Southwest Austin, and Santa Rita Ranch out near Liberty Hill.

Interested in finding a lock and leave home or condo of your own? Contact me today!

Project Catalyst, Recently Renamed "4700 East," Still Moving Forward

In its August meeting, the Austin City Council approved the re-zoning measures required for Project Catalyst, recently renamed 4700 East, to keep moving forward. If the mixed-use development project proceeds as planned, it will sit on a a 97-acre site in Southeast Austin and will neighbor Oracle’s new 40-acre corporate campus.

Often referred to as Austin’s future “Third Downtown" (with the Domain North being Austin’s “Second Downtown”), Nimes Capital has proposed building 4,700 residential units, 600 hotel rooms, 4 million square feet of office space, 60,000 square feet of medical and dental office space, and 435,000 square feet of ground-floor commercial space at 4700 East. In short, an “urban village” would be created in this area near the corner of East Riverside Drive and South Pleasant Valley Road that would basically offer, well, everything!

The city could require developers to offer hundreds of income-restricted affordable housing units, but it would only do so if the developers build structures above the restricted height of 60 feet. To maintain the promise of affordable housing in the area, the developer is currently promising that 8-12% (400-550) of the units will be income-restricted as a trade off for greater building heights. Additionally, the developer formally committed to reserve 10 units for people who are transitioning out of homelessness. These housing units will be paid for with vouchers supplied by the Ending Community Homelessness Coalition.

In order for 4700 East to be built, there are some other buildings that will need to be removed for this project to move forward. For this reason, developers have been slowly purchasing apartments in the area over the course of the past several years. The buildings that would be removed, which are roughly 60% student-occupied, are The Ballpark North and Town Lake, as well as the Quad East, West and South. The properties account for a total of 3,702 bedrooms and 1,308 units, according to city documents. Developers will also ensure gradual displacement of current residents in the area—250 of the existing units on site will not be redeveloped or demolished for five years in an effort to defray displacement.

Construction is not envisioned to begin on 4700 East before 2020. However, once the project is officially approved by the Austin City Council, the development will be built slowly over a 25 year period in five different phases along the way. The developer will return to the city council for a third and final hearing in September, at which it will need to receive at least six votes in favor to pass.

Improvements Around Austin's Capitol

If you are traveling FOR THE NEXT 1, 060 CALENDAR DAYS near the Capitol and are planning on using North Congress, or 16th, 17th, 18th, streets between San Jacinto & Colorado, you may want to check your route. That area is going to be torn up due to construction of an eight block transformation of Austin’s Capitol Complex.

The city has launched and secured funding for Phase 1 of the Texas Capitol Complex Project , scheduled to be completed by June 2022. The 1-million-square-foot, $581 million Phase One of the Texas Capitol Complex project has two main parts to it: two new office buildings and a pedestrian mall that will replace a section of Congress Avenue and include five levels of underground parking. This pedestrian-friendly street will provide plenty of green space right in the middle of Congress and provide more tourism venues for the city to hold concerts, festivals and the like.

As for the two new office buildings, details are starting to emerge. One building will be located opposite from both the Bullock museum and Blanton Museum of Art. The 14-story, 603,000-square-foot building, to be named after George H. W. Bush, will take over the surface level parking lot at 1801 Congress Ave. The new state office building will include display and performance spaces, & a cafe and food service on the first floor. Pairing with the two museums, the Bush building’s first floor will create what the state calls the “Museum Plaza,” serving as a cultural gateway to the Capitol and connected to the Capitol via the pedestrian mall. The Texas Lottery Commission is the only tenant named for this building so far.

Just south at 1601 Congress Ave., a new, unnamed, 12-story, 416,000-square-foot office building will include a state childcare facility, along with other tenants who have yet to be named.

In addition to the above construction, a new 9-story Texas Health and Human Services Commission office building is being constructed at the corner of West Guadalupe and 46th Street. The building will be built with a 7-story parking garage and should open by May 2021. According to the state, this building should save taxpayers $7.4 million in lease expenses.