Downtown Austin Salvation Army site up for sale, just one month after shelter shuttered "The downtown Austin Salvation Army site is for sale, just one month after the shelter shuttered and relocated all its residents. In February, the organization announced the closure of the facility, displacing around 100 people who are experiencing homelessness. A push from the city in March to keep the shelter open until all people could be relocated extended the closure to April 15." (Austin American-Statesman)
Development agreement amended for Bastrop 552 movie studio east of Austin "A highly anticipated film studio project east of Austin has secured a key approval that backers say means construction could start soon — which would put the 546-acre project on track to potentially open by the end of next year." (Justin Sayers, Austin Business Journal)
Demolition Pending For El Mercado Building at 17th and Lavaca Downtown "A permit filed with the city this week indicates the pending demolition of the buildings located at West 17th and Lavaca Streets in downtown’s growing northwest corner — most notably including the former home of the longtime El Mercado Uptown restaurant at 1702 Lavaca Street, which shuttered last year after nearly 30 years of business." (James Rambin, Towers)
After two years of incredible rises, rents in Austin start to fall "April rent numbers marked the first annual decrease in average rent since early 2021, according to data from ApartmentData.com. Last month, the average price of rent for an apartment any size was $1,678 a month — $8 less than it was the same time last year. The trend continued this month, with landlords charging an average of $34 less in monthly rent than in May 2022." (Audrey McGlinchy, KUT 90.5)
The Austin housing market is outperforming national trends, latest report shows "Housing inventory is on the rise, as is the number of days houses spend on the market, while prices are steadily falling. That spells another month of a balancing act in the Austin-Round Rock housing market, according to the latest report from the Austin Board of Realtors (ABoR)." (Amber Heckler, CultureMap Austin)
Why are parking garages a part of the Zilker Vision Plan? "The city released the draft of the vision plan in September. The document, which runs more than 200 pages, encompasses ecological restoration and uplift, park programming, education and outreach, and transportation and mobility. Certain mobility aspects, in particular an option in the plan that calls for an underground parking garage, have drawn public scrutiny." (Nina Hernandez, Austin Monitor)
