creiZ about Real Estate

According to the Austin Business Journal: Prevention magazine and the American Podiatric Medical Association have named Austin the second best city in the country for fitness and walking.

"While it's nice to receive accolades, in my opinion, we're nowhere near as pedestrian-friendly as we need to be," says Austin Mayor Will Wynn. "Fortunately, the continued revitalization and repopulation of downtown, as well as other developments like the Triangle and the old Mueller Airport, are big steps in the right direction."

comments: so what does it boil down to real estate, if Austin developers and the City do not develop properties in a citizen friendly way, Austin would have no chance at this recognition. And what does that mean for the future of Austin, only good news really. Many people are looking for this type of environment and where there are more people, more employers and retailers will start appearing or expanding. Really, these are all positive signs for the Austin residential and commercial markets. Let's just hope that they don't grow too quickly...

Interested in finding out more about the Austin market or investing in real estate there, contact me. 

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If you want to find out more about this blog post or what Esenai (my real estate and technology consulting company) can do for you, call me at 240-441-5086 or email me. (just remove the "-spamnot" from the email address.) Marvin a.k.a. eMarv

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Posted by eMarv at 03:14 PM | Permalink | Comments (0) | TrackBacks (0)

This was in the Austin Business Journal:

SUMMERFIELD SUITES CONVERTING TO CONDOS

AUSTIN (Austin Business Journal) – Developer Bill Hale has purchased the Summerfield Suites near Northcross Mall at 7685 Northcross Dr. with plans to convert the hotel to condominiums.

Each of the 11 buildings has 18 units that will continue functioning as hotel rooms while the conversion is conducted in phases. The project will include a mix of one-bedroom units at around 575 square feet and two-bedroom units at around 850 square feet. On the ground floor, 20 units will serve special-needs residents.

The city is purchasing 34 one-bedroom and six two-bedroom units to resell through its affordable housing program. Paul Hilgers, director of neighborhood housing and community development for the city, says the project is significant because it will be the first for-sale affordable housing in the city's program west of I-35.

comments: I need to find something like this myself. I think Austin is still an excellent place to invest in since it is relatively small compared to other cities. Case in point, my brother lives in Austin and suggests that long-distance driving in Austin is having to drive over 15 minutes. Contrast that to Houston (used to live there) and the DC area (where I live now), you'd be lucky if you get anywhere part of downtown Baltimore or DC (specially if you are in the suburbs) in less than 30 minutes.

Anyway, if anyone has or knows of an ugly or vacant apartment complex or hotel in the Austin area, I'd be interested in talking further or better yet let's partner!

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If you want to find out more about this blog post or what Esenai (my real estate and technology consulting company) can do for you, call me at 240-441-5086 or email me. (just remove the "-spamnot" from the email address.) Marvin a.k.a. eMarv

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Posted by eMarv at 11:42 PM | Permalink | Comments (0) | TrackBacks (0)