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  #81  
Old Posted Sep 1, 2015, 2:46 AM
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$529k for less than a 1000 square feet. I'll never live downtown.
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  #82  
Old Posted Sep 1, 2015, 2:48 AM
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Quote:
Originally Posted by jbssfelix View Post
There are plenty that are well below that price (although still not cheap).

For example, this is something I could probably afford. However, I have no idea where I'd put all my stuff. But for others, this is perfectly fine.
$529,000 is not affordable for the vast majority of the people living in Travis Co. The average family income in Travis Co. is ~$80,000. That income level with good credit and minimal debt will qualify for a ~$200,000 mortgage. Plus the high condo association fees will greatly reduce the mortgage amount. With that said, the downtown condo market isn't targeting the general population because high rise condos can't be built for a price anywhere near an "affordable" level.
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  #83  
Old Posted Sep 1, 2015, 6:06 AM
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I might be able to sublet a closet from a condo owner at those prices...
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  #84  
Old Posted Sep 1, 2015, 1:27 PM
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Oh and of course DT is the last place people can make 200k-500k a year especially with those law firms and excectives. Guess everyone living in DT has to drive to the suburbs to make that kind of money.
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  #85  
Old Posted Sep 1, 2015, 2:21 PM
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Originally Posted by Jdawgboy View Post
Oh and of course DT is the last place people can make 200k-500k a year especially with those law firms and excectives. Guess everyone living in DT has to drive to the suburbs to make that kind of money.
This is true.

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Originally Posted by The ATX View Post
Excellent point. I would take it one step further and say the vast majority of the people working in office towers Downtown cannot afford to live the residential buildings downtown.
This is true.

Guys, these are not mutually exclusive statements. Y'all aren't even arguing, really, and neither is anyone else because both of what you all have said is true.

On the one hand, almost everyone who works downtown cannot afford a condo. On the other hand, there are a good number of people who work downtown who can.
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  #86  
Old Posted Sep 1, 2015, 2:34 PM
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According to the Downtown Austin Alliance, Downtown has about 11,000 residents.

source

Meanwhile, there are an estimated 123,178 people who work downtown.

source

So basically 99% of the people working downtown don't actually live downtown, so that's why these office towers have a lot of parking.
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  #87  
Old Posted Sep 1, 2015, 4:15 PM
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^And I'll keep coming back to this, as Drummer did earlier, this just points out the NEED for more transit options.
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  #88  
Old Posted Sep 1, 2015, 10:31 PM
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Amen.
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  #89  
Old Posted Sep 1, 2015, 11:34 PM
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Doesn't that 123,000 figure for downtown workers also include employees at Univ. of Texas and in state offices near the capitol?
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  #90  
Old Posted Sep 2, 2015, 1:22 AM
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I'm not sure, but if they're using the official definition of the downtown boundaries, then the UT Campus would not be included. The Capitol Complex is part of downtown, but UT is officially not part of downtown. UT supposedly employs around 20,000 people with another 50,000 students. So the core of Austin potentially has a daytime population of around 190,000 to 200,000, or a little more than 20% of the city's population.
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  #91  
Old Posted Sep 2, 2015, 4:41 AM
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If anything, the workers at UT would benefit from a comprehensive transportation system in the downtown area...sorry, preaching to the choir here.
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  #92  
Old Posted Sep 2, 2015, 5:52 AM
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Originally Posted by KevinFromTexas View Post
I'm not sure, but if they're using the official definition of the downtown boundaries, then the UT Campus would not be included. The Capitol Complex is part of downtown, but UT is officially not part of downtown. UT supposedly employs around 20,000 people with another 50,000 students. So the core of Austin potentially has a daytime population of around 190,000 to 200,000, or a little more than 20% of the city's population.
I think a frequently used metric is the area within a one mile radius of 6th and Congress, and that would include some (Main Bldg.) of the UT campus. There is no way that 123,000 people work in the approximately 9 to 11 million square feet of commercial office space located downtown. Add state government workers in the vicinity of the capitol and most of the 20,000 plus UT employees, and the 123,000 number seems plausible. Downtown Houston with four or five times the amount of commercial office space has about 140,000 workers according to the downtownhouston.org website. Downtown Dallas, or the expanded Dallas "central business district", also has about 140,000 employees housed in four or five times the amount of commercial office space. The Dallas figure is from the downtown Dallas Wiki page. Another site claims that Austin has a downtown daytime population of close to 200,000. That figure would have to include the UT student population to have any claim to the truth.

Last edited by austlar1; Sep 2, 2015 at 6:04 AM.
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  #93  
Old Posted Sep 3, 2015, 1:21 PM
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Don't forget that the second most important factor, after cost, in deciding where to live is the school district if you have kids. DT is not very kid friendly. Even those executives who make more than enough to live DT want their kids to have a yard to play in, a street to ride their bike on and a good school to go to. It's so much more important than commute time.

Young urban professionals and couples who don't have kids are the best fit for DT living. However we are getting to the point where the millennials at the front end of their generation are starting to get married and have kids. There will be a huge shift to suburban single family when the majority of the millennials age into married-with-children mode.
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  #94  
Old Posted Sep 3, 2015, 4:48 PM
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Families with children have lived in the urban core in many cites for years. That is changing here as well.
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  #95  
Old Posted Sep 4, 2015, 12:04 AM
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Yeah, it just depends on what you're accustomed to or simply what you prefer. If you want a yard, you'll live in the suburbs. If you want the convenience of downtown living, you'll do that. You adapt to either no matter what stage of life you're in. Living here in China, there are tons of foreigners who move over for work and adapt to apartment living in a walkable environment. Some struggle because they've never done that before, but I can't count the times I've heard American suburbanites after making the move say, "Wow, this is actually really great!" A lot of my friends complain about driving everywhere when they go back to the States to see family, etc. The other plus side is walking more is healthy! Food here is generally healthier, too, but not just moving from one chair (couch) to another (car) to another (office) and back, but actually walking or riding a bike - it does wonders. Whodathunk?
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  #96  
Old Posted Sep 5, 2015, 9:40 PM
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This might be 29-stories with the 30th floor being mechanical. Anyway, this recent filing says the anticipated start of construction is March, 2016 with a completion date of September 2017.

https://www.austintexas.gov/devrevie...erRSN=11407565
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  #97  
Old Posted Sep 5, 2015, 9:55 PM
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Quote:
Originally Posted by The ATX View Post
This might be 29-stories with the 30th floor being mechanical. Anyway, this recent filing says the anticipated start of construction is March, 2016 with a completion date of September 2017.

https://www.austintexas.gov/devrevie...erRSN=11407565
So demo on the Austin Music Hall will probably begin very early 2016 (Like even by Janruary). With the increase in floors, does this one crack 400 ft now?
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  #98  
Old Posted Sep 5, 2015, 10:07 PM
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So demo on the Austin Music Hall will probably begin very early 2016 (Like even by Janruary). With the increase in floors, does this one crack 400 ft now?
It's not an increase in floors, but rather an interpretation of the site plan that was made available last week. According to the link the formal site plan will be submitted in a few weeks. I don't know if that one will be different from the one we have already seen.
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  #99  
Old Posted Sep 6, 2015, 12:50 AM
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Families with children have lived in the urban core in many cites for years. That is changing here as well.
Yes! What a welcome change, and a sign of a maturing downtown, to have children living there. I've had the privilege of knowing two families whose children grew up in a mix of skyscrapers and car-dependent gated communities (eg., Rob Roy on The Lake.) In one case, the kids had spent a few years in Manhattan (not the one in KS) and they absolutely LOVED it. In the other case, the kids lived in... oh, yeah, Manhattan (the one sometimes simply referred to as NYC, same as above), and they LOVED it.

Kids dig cities. Freaked out parents think that kids want lawns in sterile suburbs far away from the action, but kids dig action. The only thing kids like more, from my own personal experience, is a rural place where they can spend hours playing in creeks and woods and meadows.

Downtown and the country have this in common, they are both rich complex environments that hold a child's interest. They're full of wonder and surprise. Suburbs are stale, predictable, simple, controlled, controlling environments that make kids want to spend all day staring at screens, where they can get a virtual taste of the unpredictability and chaos that make life beautiful. Death to suburbia!
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  #100  
Old Posted Sep 6, 2015, 12:52 AM
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Originally Posted by Tech House View Post
Yes! What a welcome change, and a sign of a maturing downtown, to have children living there. I've had the privilege of knowing two families whose children grew up in a mix of years in skyscrapers and years in car-dependent gated communities, AKA Rob Roy on The Lake. In one case, the kids had spent a few years in Manhattan (not the one in KS) and they absolutely LOVED it. In the other case, the kids lived in... oh, yeah, Manhattan (the one sometimes simply referred to as NYC, same as above), and they LOVED it.

Kids dig cities. Freaked out parents think that kids want lawns in sterile suburbs far away from the action, but kids dig action. The only thing kids like more, from my own personal experience, is a semi-rural place where they can spend hours playing in creeks and woods and meadows.

Downtown and the country have this in common, they are both rich, complex environments that hold a child's interest. They're full of wonder and surprise. Suburbs are stale, predictable, simple, controlled, controlling environments that make kids want to spend all day staring at screens, where they can get a virtual taste of the unpredictability and chaos that make life beautiful. Death to suburbia!
Yeah..... it's true...
And we have quite a number of children in our building. The younger the more they love it actually
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