Real Estate Blog

Apologies for being a day late. Don't we all have weeks that get away from us? This was one for me, but only because the real estate climate in Austin is crackling with activity. At some point early in the week, I took the time to read Bobby Longoria and Tiffany Young's October 1 report from Community Impact, "City Offers Public Choice of Growth Patterns." (Due to a design flaw, in order to reach the link to the article I just mentioned, please open the blog post fully.) I recommend you take the time to read it s well. What they have to say about the city's efforts to develop its new comprehensive growth and development plan, Imagine Austin, is important.

The plan will likely be at the heart of real estate investing in our city for the next 30 years. Currently under discussion and revision, the plan will be finalized in 2011 and go to the public for voter approval in 2012. Now, bear in mind, plans change. For the last 30 years the city's comprehensive plan was built on the idea that by 1995, we'd live in a city dominated by single-family homes where people walked more than they drove. Instead, we live in a climate of dense urban residential developments where, interestingly enough, people still want walkable streets.

The point is that Austin has a good reputation for listening to its citizenry and trying to intelligently map its future. Margaret Cooper, the chair of the Citizens Advisory Task Force working on the plan was quoted in the article. "Austin has proven itself to be an attractive spot where people want to come. Better we plan for an orderly comprehensive approach to what is expected and predicted by scientists in the next 30 years so we are not behind the curve."

As real estate investors, we want to stay ahead of the curve as well, which not only means educating ourselves about currently attractive areas of the city to buy -- a topic to which we'll return next week -- but also keeping an eye on how our city is developing. An excellent article, and well worth your time.