BartonPlace Construction Update

Home sales market shows more signs of improving.

Austin American Statesman

February 21, 2011

By Shonda Novak

Austin-area existing home sales were up 14 percent last month compared to a year earlier, the second month in a row that sales have been higher than last year's.

"The latest figures show that we are seeing the economic recovery continue in Austin," said Judith Bundschuh, chairman of the Austin Board of Realtors.

Last year was the fourth in a row that local home sales were down from the year before. Economists say an improving job market, and an improving national economy, could reverse that trend this year.

The board said 975 homes sold in Central Texas in January. Active listings fell 5 percent, to 8,144, meaning less for buyers to choose from.

The median price was $190,000, up 6 percent. The higher median could be due to the bulk of the sales being in the $200,000 to $400,000 range.

"I think we're seeing more expensive properties being bought now" than when the federal homebuyer tax credits were in place through early 2010, said Tom Polk , a broker associate with Stanberry & Associates Inc.

Byron "Buddy" Schilling , president of JB Goodwin Realtors, had this explanation for the bump in median: "The stock market is back, and more people have more money. Those people with money realize that these interest rates will not stay low all year. They are buying now, some for the interest rates, but we are also doing a lot of cash sales."

Schilling said housing demand locally "will continue up because of the improving job market.

"As people realize mortgage interest rates are going up, more buyers will buy. And interest rates are going up," he said.

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Downtown Austin Condo Market Update

http://www.austinletter.com/

By Neak Spelce 

In Neal Spelce's newsletter last week, they noted:

·         Downtown Condos are 50% to 60% sold

·         The average price per square foot is a $520 and the average unit size is 1,311 SF

·         Apartments - There are 1,600 units in downtown Austin and they are currently 96% leased. Rental rates are increasing dramatically. They are currently about $1.85 a square foot and apartment operators are reducing leasing commissions.

This was also reported in the ABJ last November with an article titled "Verdicts in: Austin condos did work".   That article stated:

·         In the past five years, more than 1,800 downtown condos have come online

·         In October, there were 30 closings for downtown condos

·         The W will open in January with 60 percent of its 159 units sold so far

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Local Food + Drink News

 From www.austinst.com

Honky Tonk Happy Hour at Uncle Billy's Brew & Que

Enjoy the best in honky tonk music at Uncle Billy's every Saturday and Sunday from 2 to 6 pm.  Offering several, freshly brewed beers and Austin's finest BBQ, no wonder this place draws such a crowd.  Check it out and enjoy live music now every weekend!

New Cookbook by Uchi Chef

Tyson Cole is a smart chef.  To encourage pre-orders of his new Uchi: the Cookbook, Cole is throwing a VIP book signing on March 1 at Uchiko...with complimentary passed dishes straight from the pages of the new tome. If you're interested, head to uchicookbook.com for more information. The new book retails for $39.95 and was co-authored by Texas Monthly and Fodor's contributor Jessica Dupuy.

Whole Foods Partners with Local Farm Delivery

Whole Foods Market and Greenling announced a surprising partnership in the San Antonio and Austin markets: In-store kiosks will allow WFM customers to sign up for delivery of Greenling and Whole Foods products beginning in late February. Greenling employees will be staffing the kiosks in person for the next three weeks to answer customer questions. In a press release, Chris Romano of Whole Foods stated that "small, local farms and growers are a valuable part of the Central Texas communities and we hope this collaboration connects more people to local producers." The initial roll-out features a single product: an enhanced version of Greenling's Local Box. 

Top-Flight Beer Dinners at 24 Diner

On March 2, 24 Diner continues their well-received series of top-flight beer dinners, this time featuring the excellent New York-based Ommegang. The menu includes Ommegang's Witte, Hennepin, Three Philosophers, Chocolate Indulgence, and even a 2004 Cave-Aged Abbey Ale. There's even some food to go with the brew: lamb meatballs, rice-flaked halibut, coffee-crusted pastrami, and a goat cheese panna cotta. The dinner is $55/person, and reservations are available at (512) 472-5400. 

Zilker Park Kite Festival 2011:  Sunday, March 6th

From www.zilkerkitefestival.com

The Zilker Park Kite Festival  is right around the corner - it will be held on Sunday, March 6th.  Festivities kick off at 10 am.  Be sure to take advantage of this great Austin tradition!

A brief history of this event...

The Zilker Park Kite Festival is one of Austin's best-known annual events.  Held on the first Sunday of March, it is the kick-off to the hundreds of springtime activities in Austin.

 The 'Kite Tournament' was created by The Exchange Club of Austin in 1929 with a mission to encourage creativity in children.  Exchange Club President Ed St. John came up with the idea to give kids a constructive activity the community could participate in.  The first Tournament was held in Lamar Park, which is thought to have been close to the intersection of Congress Avenue and 1st street.

 In 1936 The Exchange Club partnered with the City of Austin Parks and Recreation Department to bring the event to newly opened Zilker Park.  In 1956 the Kite Tournament was opened to competitors of all ages and to this day contest events have changed very little.  It is the longest continuously running kite festival in the United States and is sponsored by the Exchange Club and the City of Austin Parks and Recreation Department every year.

The Zilker Park Kite Festival is an event anyone is welcome to attend (pets too!). There is no admission to attend or to participate in the contest.  Most folks come out to see the spectacular sight of hundreds of kites in the sky and to enjoy a spring day in the park.

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Barton Springs Pool set to open Saturday, March 12th

BartonPlace residents are within walking distance to one of the crown jewels of Austin - Barton Springs Pool.   This is a great place to relax and find relief from the hot Texas summers. Very soon, you'll be able to enjoy a dip in the 68 degree waters of the pool.  

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Zilker Garden Festival - Saturday March 26th & Sunday March 27th

 From www.zilkergarden.org

For over 50 years, the annual Zilker Garden Festival has been a one-stop, garden shopping destination when spring arrives in Austin and Central Texas. A family-friendly event, the garden festival offers something for everyone -

• The annual Flower Show in the Garden Center, featuring judged designs and an array of horticultural specimens
• Live music from the Soundstage in the Rose Garden - with a variety of musical offerings both afternoons
• Gardening Talks under the big, white tent next to the Garden Center - where novice and seasoned gardeners will enjoy talks from local gardening experts
• The always fun and interactive Kids' Corner in the Rose Garden - where kids can build a birdhouse, have their faces painted, make dinosaur masks and butterfly wings
• Enjoy tasty food offerings at the Food Court in the Oak Grove on the Escarpment Trail  3

10am to 5pm - $7 for Adults ($5 presale) - $3 for Children 3-12 yrs 

To find out more click here.

BartonPlace Marketing Center & Model Homes are on the move...

We are excited to announce our new, permanant location for the marketing center and model homes!  Mid-March we will be making the big move from Building 6 to Building 1.  We anticipate being fully moved and settled by Saturday, March 19th.

We look forward to welcoming future residents through our prominant, north entrance, on Toomey Road, where there is ample free parking and easy access to the grand entrance of BartonPlace.

1600 Toomey Rd. Austin, TX 78704