Is Third Time The Charm For CodeNEXT?

City staff has unveiled a third version of Austin’s land development code, touting its ease of use and preservation of neighborhood character. City Council launched the rewrite of the Austin land development code, known as CodeNEXT, in 2013 after a series of messy battles over large-scale development. Consultants who presented the newest version of the code to council Tuesday morning talked about how the latest zoning maps reflect the character of existing neighborhood plans; incorporate the Imagine Austin goals of growth along Austin’s major corridors; and consolidate three decades of policy decisions.

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University of Texas Seeks Private Partner to Develop New Longhorns Basketball Arena

AUSTIN, Texas — The University of Texas at Austin is making the first step toward the construction of a new on-campus basketball arena by soliciting interest from potential qualified developers to build and operate a new arena and basketball training facility, with minimal financial outlay from the university.

The anticipated public-private partnership between UT and an outside entity would be groundbreaking in college athletics and enable the university to build a state-of-the-art basketball venue that can also host concerts and other events.

“We have a unique opportunity to develop a world-class arena and training center for the men’s and women’s basketball teams that will help us recruit and support elite student-athletes, improve the fan experience and host games just a short walk away for our student fans,” said UT Austin President Gregory L. Fenves. “Just as important, we are looking to do this at little cost to the university and no financial cost to the community.”

Read more at news.utexas.edu

Austin declared top market for commercial real estate investors in 2018

With all this HQ2 conversation heating up, it seems Amazon isn’t the only company who is moving to Austin. A new study based on Bureau of Labor statistics and the Yardi matrix has determined that Austin is one of the top markets for commercial office real estate investors in 2018. 

To determine these hot markets, analysts looked employment numbers, vacancy rates, lease rates, and the office construction pipeline. With a 2.7 percent unemployment rate, Austin ranks among the top cities in the U.S. for job seekers. And, as Commercial Cafe points out, the city maintained a low 11-15 percent office vacancy rate throughout 2017.

Read more at culturemap. 

Austin real estate brokerage strives to become hot spot for downtown art shows

Residential real estate brokerages aren’t typically located in prime downtown storefront space, but Austin has at least two enterprises with that appealing amenity.

Urbanspace, owned by Kevin Burns, operates expansive offices on West Fifth Street, which includes an interior design practice and home furnishings, while DEN Property Group at West Third and Guadalupe streets is both an office and an art gallery that includes selected compositions for sale.

Click to read more at Austin Business Journal. 

Indeed, like HomeAway and Facebook, sets up another huge office in Austin’s ‘second downtown’

Indeed.com, the booming aggregation website for job seekers, is another marquee company going all in at The Domain in North Austin.

The 300-acre mixed-use development, which has risen like a phoenix in the past decade, has become Austin’s second downtown and is nearing build-out with tech-focused companies — Amazon, Facebook and HomeAway, to name a few — snagging a piece of prime real estate.

Click to read more at Austin Business Journal. 

Mueller developer, W Austin Hotel owner vie to oversee huge master-planned project

Two notable names in Austin’s real estate world want to lead the redevelopment of the massive Colony Park project in East Austin.

Stratus Properties Inc. and Catellus Development Corp. have responded to the city’s request for qualifications for a master developer for the redevelopment of Colony Park — about 208 acres of publicly owned land near the intersection of Decker and Loyola lanes, about a mile from Walter E. Long Metropolitan Park.

Colony Park’s Master Plan, approved in 2014, allows for as much as 960,000 square feet of commercial space and 3,031 housing units. The project was unveiled in 2012

Click to read more in Austin Business Journal