The Waterloo Greenway Project

We all know that Austin is known as the “Live Music Capital of the World.” But now, thanks to Phase I of the Waterloo Greenway Project, Austinites will soon be able to listen to that live music in one of the newest outdoor amphitheaters in the world.

Currently under renovation, Waterloo Park is 11-acres and sits between 12th Street and 15th Street along Red River Street. The renovated Waterloo Park will include more than 1.5 miles of tree-lined hike-and-bike trails and a 150-ton heritage live oak from the State Capitol Complex that was relocated to Waterloo Park in February of 2019.

However, the main attraction of Waterloo Park will be the new outdoor Moody Amphitheater that will hold 5,000 people for concerts and performances. The space will also have rooftop terraces and VIP viewing platforms. Just this week, this venue became even more promising for music loving Austinites, as the Waterloo Greenway Project announced its new partnership with booking agencies C3 Presents and Live Nation, ensuring that this amazing new venue will book and sell tickets to some of the best acts in the country.

Above are pictured: Moody Amphitheater under construction; a rendering of the completed concert venue; Waterloo Park Hike & Bike Trail Renderings Photo Credit: Waterloo Greenway Conservancy.

Waterloo Park and Moody Amphitheater are just Phase One of the Waterloo Greenway Project and are set to be ready for use in the Fall of 2020. However, once the entire Waterloo Greenway project is complete, the greenway will be a 35-acre park system that runs from East 15th Street and along the eastern edge of downtown to Lady Bird Lake. The Waterloo Greenway will eventually connect the greenway from The University of Texas all the way to Lady Bird Lake through one continuous three-mile path of trails. This will also connect to the Ann and Roy Butler Hike-and-Bike Trail and Shoal Creek Trail.

The cost of the Waterloo Greenway Project is projected to be $250 million dollars and is expected to be paid for by a combination of public and private funds. Through bond funding and other sources, the City of Austin has committed approximately $150 million. Waterloo Greenway officials say they have plans to raise the remaining $100 million from individual, foundation, and corporate contributions, grants, and more. For more information about or to donate to this upcoming park project, click the button below!

And, in addition to UT Football, start clearing some of your 2020 fall weekends to hang out and listen to live music in our amazing new Waterloo Park and Moody Amphitheater!

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

It's Raining New Development on Rainey Street

More development plans are in the works for Rainey Street District, an area of town that will continue to rapidly transform before our eyes in the coming years. In addition to the 44 East residential development and 48 East short term condo rental development, each of which we have already written about in previous blogs, other developments coming to the Rainey Street District include 70 Rainey, 90-92 Rainey Street, the Quincy & the Travis Tower.

Let’s take a quick glance at each and see what’s in store for the Rainey Street District in the coming years:

1. 44 East- 51 stories; 322 residences. Construction to begin in 2020 and open in 2022. The Trail Foundation is partnering with the Austin Parks and Recreation Department to revitalize the Rainey Street trailhead, which is across from 44 East Ave. Intracorp (the builder of 44 East) will be contributing to that project.

2. 48 East- 33-story, 239 short term rental units. Construction began in 2019 and should open in 2021.

3. 70 Rainey-34-story condominium; residents began moving in in April 2019.

4. 90-92 Rainey Street-a 51-story mixed-use tower containing apartments (290 units) and hotel space (293 rooms) on a tract spanning 90-92 Rainey Street. Currently the Container Bar and Bungalow stand on this property—they will be incorporated into the design and construction of the building. See the rendering below for the ‘cut out” design of the building that will integrate Bungalow into the second floor.

5. The Quincy-a 30-story mixed-use tower with Class A office at 93 Red River St. Broke ground in March and will open in 2021.

6. Travis Tower-50 story tower at 80 Red River St. in the Rainey Street area downtown with a possible additional second tower. The first tower will have apartments for rent, and the second will have multifamily units for sale, hotel rooms and a ground-floor coffee shop. The site was once home to the Villas on Town Lake, a condo community that was demolished in February.

The Travis Tower (far left) with proposed additional tower, pictured to the right.

What do you think of all the potential developmental changes coming to the Rainey Street District? Will current residents get to keep their views? Will more and more Austin residents make the move to downtown? Which tower will see the best sunsets? Give us your thoughts in the comments below!

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!

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.