Real Estate Blog

Well, the craziness that is the season! Just now getting around to mentioning that last Wednesday (December 8), the City Council unveiled its plan for downtown Austin. Take a look at the report from News 8, which includes a video.

There is a lot about this plan to like -- diversifying activities on 6th street; getting on top of a real, permanent program to help the homeless; and starting the first phase of an urban rail system.

I'm really excited about it all. But urban rail? Perfect. It would link UT and East Riverside initially and then spread out over ten years. The more ways you give people to move around easily, the more willing they are to branch into new living areas. An excellent development for any real estate investors because it means an expansion of our base in terms of what's "hot" and what's not.

Jim Robinson, the co-manager of the project, says it will specifically affect an area running north to south from MLK to Lady Bird Lake, then east to west form I-35 to Lamar. He hits the nail on the head when he said, "Mobility downtown will not be achieved through automobile improvements. We only have so many streets downtown and they can only handle so many cars."

And, don't miss this important point. "Downtown Austin occupies a tiny piece of the overall real estate of the city and yet it generates, in tax revenue, many times its share of the geographic scope of the city."

A vibrant downtown is a huge commodity for any city, especially one like Austin that is cultivating a forward-thinking, high tech, green living, cutting-edge culture vibe. We're helping to redefine what it means to live in a city and how people get around in a city.

This is the kind of news that attracts the attention of people relocating. Folks who relocate need a place to live. As we're winding down 2010, I can't tell you how good I think 2011 is looking for real estate investments in Austin!