BartonPlace Newsletter - January 2011

January 2011

BartonPlace

January 2011 Newsletter

Greetings!

We now have several people calling BartonPlace their home and the buzz is being heard all over town. We have seen a tremendous amount of prospective buyers stopping by to see our three beautifully designed models, thoughtful amenities and learn more about the BartonPlace experience.

Below we have included updates about the project and some articles about Austin that you might find interesting.

BartonPlace Construction Update

BP Model Kitchen
BP Rooftop Patio

A major milestone has been achieved at Barton Place with all six buildings obtaining Final Certificate of Occupancy. This means all City inspections have cleared with regard to electrical, plumbing, mechanical, and fire safety. At this stage new residents have started moving-in and are already taking advantage of the completed amenities, such as the outdoor grilling areas, gym, resident lounge, and heated saltwater pool - residents were actually doing laps this past weekend. Below is a snapshot of the most recent progress:

Building 6 & 5: Achieved CO (Certificate of Occupancy) October 21, 2010

· Landscape maintenance and touch-ups continuing

· Artwork and plants installed in corridors

· Rooftop terrace and grill completed

· Scheduled HOA maintenance & cleaning underway

Building 4 & 3: Achieved CO (Certificate of Occupancy) November 4, 2010

· Landscape maintenance and touch-ups continuing

· Completing final sign-off of interior & exterior quality inspection items with White Construction

· Artwork installed in corridors

· Plants to be installed in corridors within 4 weeks

· Rooftop terrace and grill completed

· Scheduled HOA maintenance & cleaning underway

Building 2: Achieved CO (Certificate of Occupancy) December 15, 2010

· Landscape maintenance and touch-ups to begin

· Quality-control inspection completed with final sign-off and acceptance to begin

· Artwork and plants to be installed in corridors within 4 weeks

· Scheduled HOA maintenance & cleaning to begin

Building 1: Achieved CO (Certificate of Occupancy) January 6, 2010

· Landscape maintenance and touch-ups to begin

· Quality-control inspections completed with final sign-off and acceptance to begin

· Artwork and plants to be installed in corridors within 5 weeks

· Scheduled HOA maintenance & cleaning to begin

Garage Parking: Garage cleaning and maintenance is underway. White Construction will begin to clear out material and equipment upon completion of final sign-off inspections in buildings 1 & 2. This is anticipated to occur in mid-February.

Landscaping: A revised landscaping plan is under review by the development team that will include a shaded seating area and new plantings beneath the Big Ole Pecan between buildings 2 & 4.

Austin Energy Green Building: We're working with the Architects and consultants for submission to AEGB to achieve a 3-Star green building rating.

Site monitoring & security:

A full camera system and on-site monitoring system have been installed throughout the garage and perimeter of Barton Place. In addition, a guard-house has been added at the north entry whereby 24 hour personnel are available to great vendors, receive packages, and assist residents.

BBQ in Bed...once fantasy, now reality.

unclebillys austinjava

BartonPlace residents can now enjoy free delivery from local favorites, Uncle Billy's

Brew & Que and Austin Java Cafe & Coffeehouse.

Fresh coffee in the morning, lunch delivered poolside, hassle free dinners - whatever you want, wherever you want. It's just another way BartonPlace residents enjoy life in this unique downtown community.

Austin 3rd Best Job Market, Forbes Says

Austin Business Journal - January 7, 2011

yourehired

On the eve of a Katie Couric interview on Austin's job market, the city was ranked as having the third best employment prospects in the U.S.

Forbes.com released a report Thursday ranking Austin 3rd best job market in the U.S. The business publication cited the city's low unemployment, about 7.1 percent, and low job-seekers per opening ratio, about 2.39 to one.

Forbes said Austin has many assets that have helped it weather the downturn: It's a state capital and major convention center, especially for the music industry, and home to the University of Texas and a wealth of technology companies.

In October, Austin officials announced a new Eco-Merge Green Corporate Center devoted to producing new technologies, Forbes said. Also, several international firms, including Toshiba and China's Taiwan Clean Energy, plan to open shop here.

The listing is not Austin's first appearance on Forbes' best of lists. The publication ranked Austin No. 1 last year for economic recovery, 8th best for business and careers, No. 2 most innovative and 10th best place for best cities for young professionals, among other rankings.

Washington, D.C. topped the most recent list as healthiest labor market among major U.S. metro areas. By one estimate, the nation's capital has roughly one advertised job opening for every unemployed worker in the region. Its unemployment is just 6 percent, the lowest among the country's largest 50 metros.

Las Vegas was ranked as having the worst major job market with 14.3 percent unemployment and eight unemployed workers for every job opportunity.

The see the full listing, click here.

Downtown Condo Sales Rose 50% in 2010

Austin Business Journal - January 24, 2011

Aug Austin skyline

Austin condo sales doubled last year, while prices were stable, according to recent Multiple Listing Service data released Monday.

A report from AustinTowers.net, a downtown Austin real estate blog, compiled MLS data from 25 downtown residential towers. The group tracked 168 sales last year, or about 50 percent more than in 2009. The average selling price last year was $294 per square foot, down from $296 per square foot in 2009. Units sold for an average $308 per square foot in 2008.

"With more than 2,000 new downtown condo units built downtown in the last decade, overcapacity and the real estate downturn threatened to depress condo prices" AustinTowers Editor Paul J. D'Arcy said.

"The 2010 sales results show that the market remains quite strong given the difficulties facing the broader real estate and mortgage markets."

The report said the average price per unit sold downtown was $343,983 up from about $330,344 last year, but down from $345,856 in 2008. The average time to sell a condo was 100 days, a 12-day increase from 2009.

The latter half of the year was particularly active, the Austin Business Journal reported in November. In October, there were 30 closings for downtown condos, according to Travis County data confirmed by developers. Twenty-one of those were at the three latest high-profile condo buildings downtown: the Four Seasons Residences, Spring Condominium and The Austonian.

Downtown condo sales rose 50% in '10 | Austin Business Journal

Austin among top search real estate in U.S.

Austin Business Journal - January 11, 2011

austin town lake shot

Austin was among the top ten most searched real estate markets last year, according to a recent Realtor.com report.

Las Vegas and Los Angeles came in first and second most searched markets every month

last year, while Orlando, Fla.; San Antonio and Miami vied for the third, fourth and fifth

most searched respectively. Phoenix, San Diego, Austin, Tampa, Fla. and Chicago, held

the sixth through 10 positions for most months in 2010.

Austin ranked highest in October last year, coming in fourth most searched that month.

The city didn't appear at all on the top 10 in the first three months last year, then moved mostly between eighth and 10th.

The rankings were based on the number of visitors that viewed properties in each MSA

from January 2010 to December 2010 on Realtor.com, operated by

Despite changing market conditions, the nation's most-searched destinations remained

remarkably consistent, officials said, focusing on the sunshine states of California, Nevada, Florida, Texas and Arizona.

"As the number one homes for sale website, searches on Realtor.com show us where the

highest potential for activity is across the country. Changing conditions throughout 2010

in the sunshine states resulting from foreclosures, the tax credit, interest rates and other factors created more interest in real estate compared to other states," Realtor.com

Zach Scott to break ground on Lamar theater

Austin Business Journal - January 27, 2011

Zach Scott Logo

ZACH Theatre will break ground on its new 420-seat Topfer Theatre at 202 South Lamar Blvd. on Feb. 2.

The invitation-only ground breaking ceremony begins at 11:30 a.m. that day and will feature remarks from Mayor Pro Tem Mike Martinez, ZACH Producing Artistic Director Dave Steakley, ZACH Managing Director Elisbeth Challener and ZACH Board Member Mort Topfer, for whom the theatre is named.

The ceremony will also include performances by some of ZACH's most popular artists.

We look forward to staying in close conatact with you. Please remember to visit our website at www.BartonPlaceAustin.com to get up to date news and additional information.

Sincerely,

Audra Smith

BartonPlace Condominium