The Transformation of South Lamar

[lzppjb]

Originally Posted by Jdawgboy

It's true that they could be approached, and it's quite possible they have. At least as far as I know there is no indication of that. Maybe if the deal is good enough they may, but they would not want to close down for any length of time regardless if they have other locations so the only scenario I could see is if another spot nearby was ready to go.

It's a strip, so I assume the restaurant you're talking about leases, not owns.

[mumu]

Originally Posted by KevinFromTexas

AULCC files were posted.

1311 Multi-family - this is 1303 through 1311 South Lamar. It's the Austin Automotive Specialists and Genie Car Wash lots next to the Gibson Flats.
...

Places like this have no choice but to sell given that their appraisals have skyrocketed in the last few years. In 2015 Genie as $2.1m for 1.36 acres and in 2018 $4.8m. That's a lot of extra cars they'd need to wash just to pay the property taxes.
I doubt the owners are complaining though.

[Sigaven]

Originally Posted by lzppjb

So let me get everything straight in my head...

Jiffy Lube project (orange)
futures' two projects he mentioned (blue & red)
Sigaven's development hopes (green)

Is this right?

I was referring to hte strip mall with the Starbucks and Chi'Lantro. I rememeber reading somewhere awhile back that the big blue square probably won't see much redevelopment any time soon since a lot of that is affordable housing. Which means the strip center in front of it with the tatsu-ya probably also won't see redevelopment any time soon.

[NYC2ATX]

My personal imaginary dream for this part of South Lamar is that they would redevelop everything in the blue square, but extended east to Lamar, into an appropriately dense mixed-use, similarly scaled to those new buildings around it, BUT around a broad public space that they call Lamar Square. And then they can start to call the whole immediate area that.

But that's just me.

[zrx299]

Originally Posted by mumu

Places like this have no choice but to sell given that their appraisals have skyrocketed in the last few years. In 2015 Genie as $2.1m for 1.36 acres and in 2018 $4.8m. That's a lot of extra cars they'd need to wash just to pay the property taxes.
I doubt the owners are complaining though.

A perfect example of what's wrong with our current property system.

Does anyone here actually think that car wash's profits rose an extra 229% along with that appraisal (and accompanying tax bill) during the same period? Of course not.

Not anti-development at all, but no business should be taxed out of existence based on paper valuations. It's legalized extortion.

Now If you want to cash out and go home, that's perfectly fine.
Pay taxes on the sale price of your property or business and move on to the next thing.

[Novacek]

Originally Posted by zrx299

A perfect example of what's wrong with our current property system.

Does anyone here actually think that car wash's profits rose an extra 229% along with that appraisal (and accompanying tax bill) during the same period? Of course not.

Not anti-development at all, but no business should be taxed out of existence based on paper valuations. It's legalized extortion.

Now If you want to cash out and go home, that's perfectly fine.
Pay taxes on the sale price of your property or business and move on to the next thing.

My profit from the house I live in is $0. Therefore I shouldn't pay any property taxes, right?


Property tax is not and is not intended to be a profit/income tax.


It's a wealth tax.

[zrx299]

Originally Posted by Novacek

My profit from the house I live in is $0. Therefore I shouldn't pay any property taxes, right?

Property tax is not and is not intended to be a profit/income tax.

It's a wealth tax.

That "wealth" only exists on paper. It isn't real until you find a buyer willing to pay a certain price. It doesn't help you generate anything tangible just sitting there, but the cash you must pay every year in "wealth tax" certainly is very real.

Taxing unrealized paper wealth is just wrong in my opinion.
I'll leave it at that and not derail the thread.

[deerhoof]

E-cigarette unicorn Juul starts its Austin expansion — and more moves may be coming soon: https://www.bizjournals.com/austin/n...source=twitter

"Vaping unicorn Juul Labs Inc. has leased 62,749 square feet of office space in Central Austin, the first step in what seems like a significant expansion for the San Francisco-based startup. That’s all of the office space at 2010 S. Lamar Blvd., a mixed-use development near the intersection of South Lamar Boulevard and Hether Street, Juul spokesman Ted Kwong confirmed in an email."

"Juul is also close to signing a lease for the entire Bouldin Creek office building rising less than a quarter-mile down the road at the northeast corner of South Lamar Boulevard and West Oltorf Street, multiple sources told Austin Business Journal. The 165,000-square-foot building is slated for completion in summer 2020."

[StoOgE]

Gross.

[urbancore]

Originally Posted by StoOgE

Gross.

Well shit. That’s a block from my house. Fuck Juul

[We vs us]

Just goes to show Austin's youth culture brand is as strong as its tech brand.

[StoOgE]

Originally Posted by urbancore

Well shit. That’s a block from my house. Fuck Juul

Hey neighbor!

[LiveattheOasis]

Already sent a note to council. They’re free to come, but we’re free to shame them every step of the way.

[urbancore]

1300 employees is a SHIT load of employees to add right there. WOW!

[StoOgE]

Originally Posted by urbancore

1300 employees is a SHIT load of employees to add right there. WOW!

Edit: I'm an idiot.

So, Juul is basically going to own both sides of South Lamar around Oltorf/Heather. Who would have thought I'd prefer a shitty texmex restaurant and abandoned used car lot.

[Jdawgboy]

Hey now guys, just because it's an e-cig company doesn't mean the solely focus on tobacco/nicotine. A massive part of that market is marijuana orientated with vapes and all that. Austin is a huge... shall we say very weed oriented city. Everyone that I know (including myself) that has an e-cig, does not use them for tobacco/nicotine purposes.

[urbancore]

Originally Posted by Jdawgboy

Hey now guys, just because it's an e-cig company doesn't mean the solely focus on tobacco/nicotine. A massive part of that market is marijuana orientated with vapes and all that. Austin is a huge... shall we say very weed oriented city. Everyone that I know (including myself) that has an e-cig, does not use them for tobacco/nicotine purposes.

fair enough

[StoOgE]

Originally Posted by Jdawgboy

Hey now guys, just because it's an e-cig company doesn't mean the solely focus on tobacco/nicotine. A massive part of that market is marijuana orientated with vapes and all that. Austin is a huge... shall we say very weed oriented city. Everyone that I know (including myself) that has an e-cig, does not use them for tobacco/nicotine purposes.

Yeah, my primary concern is Juul specifically being the brand for minors and the massive uptick in smoking in young people and the largely unregulated market for e-cigs in general.

I don't care if adults want to smoke or use it for uhh.... non-tobaco reasons, but Juul seems to have known what they were doing with their branding to become effectively synonymous with underage smoking... er vaping.

https://www.fda.gov/news-events/pres...n-against-more

They are a pretty scummy company.

[Jdawgboy]

Originally Posted by StoOgE

Yeah, my primary concern is Juul specifically being the brand for minors and the massive uptick in smoking in young people and the largely unregulated market for e-cigs in general.

I don't care if adults want to smoke or use it for uhh.... non-tobaco reasons, but Juul seems to have known what they were doing with their branding to become effectively synonymous with underage smoking... er vaping.

https://www.fda.gov/news-events/pres...n-against-more

They are a pretty scummy company.

I agree with you on that point. I don't know much about these companies, but if this particular company has been focusing on underage smoking promoting it whether directly or indirectly, that is deplorable. Yes you're right in that we don't need scummy companies such as that in our fair city.

[NYC2ATX]

Not to nitpick, but I'm pretty sure that Juul focuses exclusively on e-cigarettes, and cannabis or CBD vapes/Austin's weed culture are of no relevance to their current business.