Partnership developing condos in Austin, Dallas, Houston

ATXboom · #1 Posted **Jan 16, 2008, 11:00 PM**

Wednesday, January 16, 2008 - 4:37 PM CST
Partnership developing condos in Austin, elsewhere in Texas
Austin Business Journal

A Dallas-based developer is partnering with Austin's Cypress Real Estate Advisors on four residential projects across the state, including two here in Austin.

Urbana Communities and Cypress have broken ground on the 42-unit Zocalo and 8-unit Mira Vista town home developments in Austin. Zocalo, located near Lamar Boulevard and Manchaca Road, will have condos priced from $400,000 to $650,000 while the units at Mira Vista near the intersection of 10th Street and Lamar Avenue downtown will range from $800,000 to $1.5 million. The partnership is also working on 22-unit development in Dallas and a 12-unit project in Houston. All of the projects are being built using sustainable materials and incorporating LEED criteria into planning and execution.

"A significant trend in the boomers moving back to the Urban Core has us focused on for-sale product in pedestrian access locations in Dallas, Austin and Houston," says Brett Johnston, founder and president of Urbana Communities. "We want to create communities that help connect the pieces of (people's) lives in authentic ways."

Cypress has been acquiring sites in the major Texas markets in the last several years. The partnership is also looking to expand its footprint with projects throughout the Southeast and Southwest United States.

southsideatx04 · #2 Posted **Jan 17, 2008, 12:50 AM**

Hopefully they are 3-3's southsideatx04

Partnership developing condos in Austin, elsewhere in Texas

A Dallas-based developer is partnering with Austin's Cypress Real Estate Advisors on four residential projects across the state, including two here in Austin.

Urbana Communities and Cypress have broken ground on the 42-unit Zocalo and 8-unit Mira Vista town home developments in Austin. Zocalo, located near Lamar Boulevard and Manchaca Road, will have condos priced from $400,000 to $650,000 while the units at Mira Vista near the intersection of 10th Street and Lamar Avenue downtown will range from $800,000 to $1.5 million. The partnership is also working on 22-unit development in Dallas and a 12-unit project in Houston. All of the projects are being built using sustainable materials and incorporating LEED criteria into planning and execution.

"A significant trend in the boomers moving back to the Urban Core has us focused on for-sale product in pedestrian access locations in Dallas, Austin and Houston," says Brett Johnston, founder and president of Urbana Communities. "We want to create communities that help connect the pieces of (people's) lives in authentic ways."

Cypress has been acquiring sites in the major Texas markets in the last several years. The partnership is also looking to expand its footprint with projects throughout the Southeast and Southwest United States.

Austin Business Journal

KevinFromTexas · #3 Posted **Jan 17, 2008, 2:13 AM**

southsideatx04, I'm merging these two. I hope you don't mind. ATXboom's was posted first, so his is listed first.

MichaelB · #4 Posted **Jan 17, 2008, 5:10 AM**

Quote:

Originally Posted by ATXboom

Wednesday, January 16, 2008 - 4:37 PM CST
Partnership developing condos in Austin, elsewhere in Texas
Austin Business Journal

A Dallas-based developer is partnering with Austin's Cypress Real Estate Advisors on four residential projects across the state, including two here in Austin.

Urbana Communities and Cypress have broken ground on the 42-unit Zocalo and 8-unit Mira Vista town home developments in Austin. Zocalo, located near Lamar Boulevard and Manchaca Road, will have condos priced from $400,000 to $650,000 while the units at Mira Vista near the intersection of 10th Street and Lamar Avenue downtown will range from $800,000 to $1.5 million. The partnership is also working on 22-unit development in Dallas and a 12-unit project in Houston. All of the projects are being built using sustainable materials and incorporating LEED criteria into planning and execution.

"A significant trend in the boomers moving back to the Urban Core has us focused on for-sale product in pedestrian access locations in Dallas, Austin and Houston," says Brett Johnston, founder and president of Urbana Communities. "We want to create communities that help connect the pieces of (people's) lives in authentic ways."

Cypress has been acquiring sites in the major Texas markets in the last several years. The partnership is also looking to expand its footprint with projects throughout the Southeast and Southwest United States.

10th and Lamar.....? Anyone know what property this is on ?

LoneStarMike · #5 Posted **Jan 17, 2008, 10:15 AM**

Quote:

Originally Posted by MichaelB

10th and Lamar.....? Anyone know what property this is on ?

Since it says "near" the intersection of 10th & Lamar and since it's a small development (only 8 units) and since the name is "Mira Vista" I'm thinking it's that lot just underneath the TMI Castle that overlooks Lamar.

There's an old foundation already there. They were originally going to build condos there several years ago, but the project wasn't completed.

Here's a picture I took back in November standing on the old foundation.

southsideatx04 · #6 Posted **Jan 17, 2008, 12:30 PM**

Quote:

Originally Posted by KevinFromTexas

southsideatx04, I'm merging these two. I hope you don't mind. ATXboom's was posted first, so his is listed first.

whoops, my bad.

ATXboom · #7 Posted **Jan 17, 2008, 4:36 PM**

^^^ That's one hell of a view!

southsideatx04 · #8 Posted **Jan 17, 2008, 5:46 PM**

That is a good view. Maybe I would pay that much.

MichaelB · #9 Posted **Jan 17, 2008, 10:54 PM**

Quote:

Originally Posted by LoneStarMike

Since it says "near" the intersection of 10th & Lamar and since it's a small development (only 8 units) and since the name is "Mira Vista" I'm thinking it's that lot just underneath the TMI Castle that overlooks Lamar.

There's an old foundation already there. They were originally going to build condos there several years ago, but the project wasn't completed.

Here's a picture I took back in November standing on the old foundation.

AH! I did read about that! I just walked by there two days ago. I also made note that the property just infront of that land is for sale also! I would not count on that view beinging that unobstructed for long!

arbeiter · #10 Posted **Jan 18, 2008, 1:42 AM**

Years ago, I went to a New Years' party in the concrete empty lot below that castle, right where this picture was taken. It was a kind of outdoor kegger that had about 300 people and was broken up by the police.

texboy · #11 Posted **Jan 18, 2008, 4:01 AM**

I have to say that I love the fact that SA is being ignored by most major developers as far as downtown living goes...Its great for me, bc I know there is a need and a want for affordable high density living close to the dt core that I completely plan to capitalize on after college! SA really is very underrated when it comes to real estate. With the right product in the right place, I really feel that Ill be able to create some really great spaces to live in! Cheers to y'all Aus, Dal, Hou! Keep it going, bc I don't want developers to catch onto my little secret! lol At least for about 5 years ;-)

priller · #12 Posted **Jan 18, 2008, 10:38 AM**

That's a great view, but that site is really more like 11th & Baylor, so I'm not sure if that's the spot they mean.

There is an abandoned gas station at the corner of 10th & Lamar that's a real eyesore and really needs to be replaced. Maybe?

priller · #13 Posted **Jan 18, 2008, 10:45 AM**

Half a million condos at Lamar and Manchaca, on the other hand, that seems really off to me. Downtown prices at a not particularly desirable location, IMHO.

Nickelplate · #14 Posted **Jan 18, 2008, 11:26 AM**

All though I think manchaca is a hot spot because of the relative closeness to downtown(compared to northern development), it is still not a half million dollar area.

KevinFromTexas · #15 Posted **Jan 18, 2008, 10:37 PM**

^ It's definitely not a half million dollar area. Heck, at Lamar & Manchaca is where Goodwill has their main South Austin store. There's also at least two auto repair shops near there. But there are some pluses, a lot of good restaurants like the Old Alligator Grill, Red Lobster and others. Lamar has tons of good restaurants. Plus you're close to Barton Creek Square Mall and the greenbelt. About the only thing good about it is that it is close to downtown. You can be there in 10 minutes depending on the time of day.

LoneStarMike · #16 Posted **Jan 18, 2008, 11:03 PM**

Re: Zocalo at/near Manchaca & Lamar

It sounds like that is just a small portion of the overall development for that area. This was in the austinist last May

http://austinist.com/2007/05/10/anot...tty_condos.php

Quote:

Tuesday night, the Planning Commission recommended approval of a zoning change near South Lamar and Manchaca - property which includes Habibi’s Hutch, a particularly awesome South Austin day care run by Andrew Urbanus (shown right), to allow construction of a project including 45 townhomes, 360 apartments, 20 live-and-work units, and 18,000 square feet of retail.

arbeiter · #17 Posted **Jan 18, 2008, 11:24 PM**

While half a mil is too high for me, it's about distance and amenities, whether there's a Goodwill nearby or not is irrelevant. Fast-gentrifying areas often have a commercial complexion that lags behind the actual income of the homeowners. For the longest time, there was a Polish travel agency and a Parisi-Torre office right next to million dollar condos in Brooklyn. Cameron Road is another example in Austin - its commercial district is a good 5-10 years behind the neighborhood.