Texas teacher retirement system sells downtown Austin property "The Teacher Retirement System of Texas has sold its longtime headquarters building on Red River Street in downtown Austin for $108 million.The buyer was Austin Real Estate Acquisitions LLC, a Delaware limited liability company and subsidiary of a publicly traded real estate investment trust." (Shonda Novak, Austin American-Statesman)
Crash deaths, injuries on the rise despite Vision Zero interventions "Traffic-related fatalities and serious injuries in the city of Austin have increased in 2022 compared with the five-year average, highlighting the barriers that stand in the way of the city’s Vision Zero goals." (Emma Freer, Austin Monitor)
Rezoning for 33 new condos off far South Congress endorsed by city commission "The city’s Zoning and Platting Commission signed off Oct. 4 on a zoning change to allow multifamily dwellings at the site of a scrapyard yard off South Congress Avenue. The vote marked a step forward in Thrower Design's plan to construct 33 condominium units on the 2.7-acre plot at 7901 Peaceful Hill Lane. The site is owned by Jeffrey Fluitt." (Mike Christen, Austin Business Journal)
Turning Empty Rails to Urban Trails at the Bergstrom Spur in South Austin "A project by Austin Public Works converting more than six miles of abandoned rail line in South Austin to an all-access urban trail is shifting into the next gear this month — and although it’s not too flashy, the plan has the potential to bring some downtown-style urban design improvements to the region south of Highway 290, which often comes up a little short in the walkability department." (James Rambin, Towers)
City seeks federal transit funds to improve east-west connections along I-35 "Last week City Council approved a resolution to submit the Our Future 35: Connecting Equitably Study to the U.S. Department of Transportation for funding consideration as part of the new Reconnecting Communities pilot program. The $1 billion pilot provides $250 million for planning costs and $750 million for capital projects to communities to “restore connectivity through the removal, retrofit, mitigation, or replacement of eligible transportation infrastructure.” (Chad Swiatecki, Austin Monitor)
The 'Airbnb Effect' could be one reason behind Austin's skyrocketing housing prices "The Austin housing market continues to see high demand and high prices. It's a tough time to be a first-time homebuyer, and expert say companies like Airbnb are making matters worse. Experts worry short-term rental companies are taking too many properties off the market. While those vacation rental homes can help stimulate the economy and increase tourism, in the long run, the negative consequences of short-term rentals can outweigh the good." (KVUE/ABC)
