Entry level housing in Maywood Park

[metro]

Sounds like Maywood Hall is going to be more expensive than some were thinking...

[warreng88]

Sounds like Maywood Hall is going to be more expensive than some were thinking...

Looks like "The Leslie" is going to be the least expensive of the bunch.

[jbrown84]

So it's now Second Street Lofts instead of Lofts at Maywood Park?

[onthestrip]

“It is refreshing to hear that a developer is finally catering to a largely untapped demographic,” he said. “Deep Deuce and a few other apartment complexes have generally been the only option for young professionals when it comes to downtown living.”

Thats an interesting comment. Why have all these new housing projects been all for sale condos and not more apartments. Does Deep Duece not stay fairly full. Most people I know, in their mid 20s, would probably look at renting before buying. Even more so with the state of the economy.

Not to say we dont need condos, but I think a new 3-4 story apartment complex is something that downtown is missing.

[jbrown84]

After being in Austin last weekend, I wonder the same thing, onthestrip. Many if not most of their low/midrise residential projects going in downtown are RENTALS. Even several of the highrises are apartments, not condos.

These look comprable to the Legacy but better looking on the outside:
Red River Flats
West Avenue Lofts
5th Street Commons
404 Rio Grande
AMLI Downtown

These are highrises:
The Monarch
21 Rio
Legacy on the Lake

[metro]

So it's now Second Street Lofts instead of Lofts at Maywood Park?

I doubt they changed the name, it's probably lazy journalism on behalf of the reporter.

[metro]

Thats an interesting comment. Why have all these new housing projects been all for sale condos and not more apartments. Does Deep Duece not stay fairly full. Most people I know, in their mid 20s, would probably look at renting before buying. Even more so with the state of the economy.

Not to say we dont need condos, but I think a new 3-4 story apartment complex is something that downtown is missing.

No, downtown needs more home ownership to maintain the market long-term, there are plenty of rental apartments, several multistory, the Legacy at Arts Central is about 4 stories and the Park Harvey is what, like 18 stories? Regency Tower is about 20 stories.

[jbrown84]

No, downtown needs more home ownership to maintain the market long-term, there are plenty of rental apartments, several multistory, the Legacy at Arts Central is about 4 stories and the Park Harvey is what, like 18 stories? Regency Tower is about 20 stories.

We need more of both.

[CuatrodeMayo]

Thats an interesting comment. Why have all these new housing projects been all for sale condos and not more apartments. Does Deep Duece not stay fairly full. Most people I know, in their mid 20s, would probably look at renting before buying. Even more so with the state of the economy.

Not to say we dont need condos, but I think a new 3-4 story apartment complex is something that downtown is missing.

I can't say much, but there is a possibility that Midtown could meet that need.

[TStheThird]

That is what really sucks about The Hill. Had the TAP group won, we would have a nice mix of for sale and for rent units on that land. Does anyone have links to their proposal? I can't remember how many rental units they were incorporating, but it seemed that their overall development had a lot more units available than The Hill.

[southernskye]

After being in Austin last weekend, I wonder the same thing, onthestrip. Many if not most of their low/midrise residential projects going in downtown are RENTALS. Even several of the highrises are apartments, not condos.

These look comprable to the Legacy but better looking on the outside:
Red River Flats
West Avenue Lofts
5th Street Commons
404 Rio Grande
AMLI Downtown

These are highrises:
The Monarch
21 Rio
Legacy on the Lake

I will have to go take a look at some of those while we are there over Thanksgiving weekend. I haven't been in downtown Austin in a long time.

[metro]

That is what really sucks about The Hill. Had the TAP group won, we would have a nice mix of for sale and for rent units on that land. Does anyone have links to their proposal? I can't remember how many rental units they were incorporating, but it seemed that their overall development had a lot more units available than The Hill.

About twice as many (if I remember correctly) PLUS ground level retail and an overall better asthetic look to the place. The Hill "at Bricktown" even though in Deep Deuce, is more like a gated community downtown and not very inviting to the community or the public. OCURA

[onthestrip]

No, downtown needs more home ownership to maintain the market long-term, there are plenty of rental apartments, several multistory, the Legacy at Arts Central is about 4 stories and the Park Harvey is what, like 18 stories? Regency Tower is about 20 stories.

I know that Regency and Park Harvey offer apartments, but they werent really designed for apartment living. And the Legacy just seems to be in a bad location. Im not sure I know anyone that has even considered living there.

The area north of BT is the place that a younger person would want to live, but there are very few new rental units being offered. If, for example, The Hill built a four story apartment building with parking underneath, I have a feeling that they would fill up very quickly.

[metro]

Why is the Legacy in a "bad location?" Just because you don't know anyone living their doesn't mean the location is bad, it's a fairly full complex. It's in the heart of the Arts District and that's why many people choose to live their, FOR THE LOCATION. I think their prices are too high, but obviously plenty of people are willing to pay for it.

FYI, I live/own downtown and live on the far west side of downtown, aka SOSA area. I know plenty of young people in ALL parts of downtown, so your location argument doesn't really hold water IMO. I agree Deep Deuce has a higher concentration of young people, because it was the first and still the largest apartment community downtown, so that's natural it's going to have more young people. I also agree that it's a good place for those who are in the party scene or like to hang out at bars clubs regularly, but there are plenty youngsters downtown that don't and they are scattered all througout downtown.

[sroberts24]

i know a lot of 18-26 y/o college students, new into the work force, and looking for excitement and urban living for a good price, and what Austin has done with all their highrise housing being built right now is exactly what i think we need.... i know a lot of people that would move there in a instant

[onthestrip]

Metro, Im not bashing the Legacy, I just think something like it needs to be north of BT. For the people that live there because its in/close to the arts district, thats great. However, Im guessing that most young proffesionals eat, drink, go to movies or bowling more often than they go to the Civic Center or museums. Meaning they would probably rather live closer to those things, which is north of BT. We always talk about a critical mass of that area and I think we would get there quicker if there were more apartment options just north of bricktown.

[jbrown84]

There is ABSOLUTELY a huge market for more rentals in/near Bricktown. I don't know why metro is fighting that concept.

[shane453]

He wasn't fighting that, he was just trying to argue that the Legacy is in a good location. There are more than a handful of good locations for large rental buildings in downtown, north of BT is one of them, so is the Arts District. Different strokes for different folks.

[jbrown84]

Yeah but if you go further back in the thread, he argued against the concept that we need more rentals and not just condos.

As I pointed out, Austin is building just as many if not more apartments than condos in their downtown area.

Is there some reason we shouldn't have that same dynamic?

[mecarr]

I know that Regency and Park Harvey offer apartments, but they werent really designed for apartment living. And the Legacy just seems to be in a bad location. Im not sure I know anyone that has even considered living there.

The area north of BT is the place that a younger person would want to live, but there are very few new rental units being offered. If, for example, The Hill built a four story apartment building with parking underneath, I have a feeling that they would fill up very quickly.

FYI, Legacy apartments have rented out about 95% of their apartments...This place is packed and people like living there.

[jbrown84]

Park Harvey is around that occupancy as well.

[southernskye]

Yeah but if you go further back in the thread, he argued against the concept that we need more rentals and not just condos.

As I pointed out, Austin is building just as many if not more apartments than condos in their downtown area.

Is there some reason we shouldn't have that same dynamic?

Jbrown did you see The Austonian when you were down there ?

[jbrown84]

Yeah it's going up. Pretty freakin' nice, and right on Congress. Not sure if it's condos, apartments, or both.

[southernskye]

Yeah it's going up. Pretty freakin' nice, and right on Congress. Not sure if it's condos, apartments, or both.

Condos, 56 stories

[metro]

There is ABSOLUTELY a huge market for more rentals in/near Bricktown. I don't know why metro is fighting that concept.

Not fighting it, as I stated I agree, just trying to state some other facts as someone WHO DOES LIVE AND OWN DOWNTOWN AND IS A YOUNG TWENTY-SOMETHING involved in most downtown organizations. I'm not someone talking on the sidelines, but someone changing the game.