By: Jay Heinrich
Hidden gems are spectacular to find. For instance, someone takes a chance on a burger joint and it turns out to have the best hamburgers they have ever eaten, or if someone walks into a hole in the wall bar one night and it turns out to be their favorite watering hole. For those involved in real estate or just looking to buy a home, Lockhart is the home of a few of these so called hidden gems, and they are at a fraction of the cost of what these homes would cost in the Austin area.
In a recent article by Austin-American Statesman writer Charles Ealy, the author describes two homes that would make even the most unexciteable man sit on the edge of his seat. They are both on the market for $325,000 and $379,000, respectively. It is thought that these houses, given their hardwood floors, high ceilings and historical backgrounds, would more than likely list for over $1 million in Central Austin.
Some are worried about the recent trend in the Caldwell County of rising home costs. According to the article, the median home price in the county jumped 9.7 percent in September of the current year. However, despite a proposed part of Texas highway 130 to be constructed a few miles west of Lockhart, very few are predicting skyrocketing home prices in the near future.
The famous Cardwell House in Lockhart is another good example. Over 3,500 square feet, three bathrooms, a huge backyard with a guest house, several huge oak trees, and there is a historical marker in the front yard. There is another large estate on Bois D'Arc St. listed for $219,500. The costs shine in comparison to the million dollar prices that the homes would bring in the Central Austin area.
When looking for a house, don't be intimidated by realtors that pressure you to make a quick decision. Look around. Dig deep. Who knows.... you might stumble upon a gem.
Ealy Article: http://www.statesman.com/business/content/business/stories/statesmanhomes/10/28/1028lockhart.html
Monday, October 29, 2007
Thursday, October 25, 2007
Looking for a good deal on a place to rent, buy a duplex!
By: Stephanie Kelley
In a special housing supplement of the Austin American Statesman an article focused on business savvy investors who purchased duplex’s so that they could have an affordable place to stay, pick their own neighbors and have their mortgages split by their tenants. I found this article very interesting because I myself live in a duplex. I loved the idea of purchasing a duplex and having someone to share the mortgage with. I hate paying towards something I don’t own but if I owned the duplex I could get at least half if not more of the mortgage paid by a tenant.
The article also featured a review of three different duplex’s and their owners (a first timer, a veteran & a family). I think that this would be more applicable to a single tenant rather than a family unless the duplex is huge. However, if you need a supplemented income this is a great way to sit back and watch the money come in each month. The Burger family uses their tenants rent as a supplemented income so one parent can stay home with the kids, “If we had a big mortgage payment every month, both of us would have to work," says Gann Burger.
On the other hand, it is a business investment because you have to be able to keep the duplex up to date and looking good. Veteran Cash Edwards points out that a good way to keep your rent high is maintaining your duplex, “keep the tenant's side "swanked out" — even if the other side is a "hovel" — in order to be able to keep the rent high.” She also adds that there are several energy saving techniques to help keep bills low, such as “replacing all the toilets with low-flow models to save water and benefit from City of Austin incentive programs.”
I think that if I am still single when I become financially stable enough to buy my first property that I would love to invest in a duplex. I know it will be a lot of work keep everything maintained but this is something I am interested in and would love to turn into a hobby. However I will definitely be keeping this articles advice in mind when the time comes.
“Twice as nice”
Some savvy Austin homeowners have discovered that owning a duplex for their primary residence lets them pick their neighbors and pay part of their mortgage
By Jenny Miller
SPECIAL TO THE AMERICAN-STATESMAN
Sunday, October 21, 2007
In a special housing supplement of the Austin American Statesman an article focused on business savvy investors who purchased duplex’s so that they could have an affordable place to stay, pick their own neighbors and have their mortgages split by their tenants. I found this article very interesting because I myself live in a duplex. I loved the idea of purchasing a duplex and having someone to share the mortgage with. I hate paying towards something I don’t own but if I owned the duplex I could get at least half if not more of the mortgage paid by a tenant.
The article also featured a review of three different duplex’s and their owners (a first timer, a veteran & a family). I think that this would be more applicable to a single tenant rather than a family unless the duplex is huge. However, if you need a supplemented income this is a great way to sit back and watch the money come in each month. The Burger family uses their tenants rent as a supplemented income so one parent can stay home with the kids, “If we had a big mortgage payment every month, both of us would have to work," says Gann Burger.
On the other hand, it is a business investment because you have to be able to keep the duplex up to date and looking good. Veteran Cash Edwards points out that a good way to keep your rent high is maintaining your duplex, “keep the tenant's side "swanked out" — even if the other side is a "hovel" — in order to be able to keep the rent high.” She also adds that there are several energy saving techniques to help keep bills low, such as “replacing all the toilets with low-flow models to save water and benefit from City of Austin incentive programs.”
I think that if I am still single when I become financially stable enough to buy my first property that I would love to invest in a duplex. I know it will be a lot of work keep everything maintained but this is something I am interested in and would love to turn into a hobby. However I will definitely be keeping this articles advice in mind when the time comes.
“Twice as nice”
Some savvy Austin homeowners have discovered that owning a duplex for their primary residence lets them pick their neighbors and pay part of their mortgage
By Jenny Miller
SPECIAL TO THE AMERICAN-STATESMAN
Sunday, October 21, 2007
Monday, October 22, 2007
Foreclosures Far Too Frequent
By: Jay Heinrich
There has recently been no shortage of reports on the trouble that the real estate market is growing towards, and in some cases already in, right now. Some of the hard times are being blamed on the huge number of subprime loans that were issued during the recent boom of housing in Texas and across the nation. These subprime loans are, more often than not, issued to borrowers with less than decent credit scores. While the word subprime refers to the credit of the owner and not the interest rate on the loan, high interest rates go hand in hand with these types of loans. These loans are extremely risky due to the history of the borrower. Now, because of many of these loans turning into foreclosed homes and unpaid loans, lending companies are paying the price.
Here's the deal. To stop the huge number of foreclosures, stop giving out so many of these subprime loans. The math is pretty simple. Less loans equals less possibility of foreclosure. I understand that people need a place to live and will need loans from time to time, but now it is not only effecting the borrowers. This has started to become bothersome to people that do not depend on these subprime loans. Many lending companies are having to file for bankruptcy because they are not working with the lendees. If they hadn't given out so many of these loans, they might still be in business.
According to an article by Enrique Rangel from amarillo.com, Texas Attorney General Greg Abbott has spoken up and offered his thoughts on what it would take to turn the corner on these problems. He presented five things lenders can do to reduce the amount of foreclosures in the market and make it a little bit easier on the lenders and lendees of Texas. These include improving communication with consumers, providing solutions for borrowers with adjustable-rate mortgages, and waiving penalties and fees while the company works with the borrower to keep their loan.
Winner, Winner, Chicken Dinner. This should apply to every day life, not just a business like real estate. I'm glad someone has come forward with some ideas, but it shouldn't take a politician to come up with something like that. Just because someone screws up once you shouldn't write them off as worthless to you. Taking the time to talk to someone to figure out what they can do to help not only themselves but you as well makes a little more sense than just ripping away whatever opportunities they might have to be successful. Don't make it all about you. Make it about them as well. If someone feels more comfortable with you, they are more likely to be inclined to do whatever they can to make the situation good for all parties involved. So instead of automatically sending things to collections and just chalking it up as a loss, companies should take the time to work with the consumers to come up with solutions to the problem.
Senator Eliot Shapleigh, D-El Paso, is so worried about the consequences of a real estate bust in Texas that he asked Governor Rick Perry to call a special session next year on the issue. Perry has yet to respond, but when he does, I hope he is as open minded on the topic as Attorney General Abbott is and makes the decision to at least call a special session to discuss this matter. If not, the real estate bubble in Texas will no doubt be ready to burst.
Rangel Article: http://www.amarillo.com/stories/102207/new_8745435.shtml
Information on Subprime Loans: http://en.wikipedia.org/wiki/Subprime_lending
There has recently been no shortage of reports on the trouble that the real estate market is growing towards, and in some cases already in, right now. Some of the hard times are being blamed on the huge number of subprime loans that were issued during the recent boom of housing in Texas and across the nation. These subprime loans are, more often than not, issued to borrowers with less than decent credit scores. While the word subprime refers to the credit of the owner and not the interest rate on the loan, high interest rates go hand in hand with these types of loans. These loans are extremely risky due to the history of the borrower. Now, because of many of these loans turning into foreclosed homes and unpaid loans, lending companies are paying the price.
Here's the deal. To stop the huge number of foreclosures, stop giving out so many of these subprime loans. The math is pretty simple. Less loans equals less possibility of foreclosure. I understand that people need a place to live and will need loans from time to time, but now it is not only effecting the borrowers. This has started to become bothersome to people that do not depend on these subprime loans. Many lending companies are having to file for bankruptcy because they are not working with the lendees. If they hadn't given out so many of these loans, they might still be in business.
According to an article by Enrique Rangel from amarillo.com, Texas Attorney General Greg Abbott has spoken up and offered his thoughts on what it would take to turn the corner on these problems. He presented five things lenders can do to reduce the amount of foreclosures in the market and make it a little bit easier on the lenders and lendees of Texas. These include improving communication with consumers, providing solutions for borrowers with adjustable-rate mortgages, and waiving penalties and fees while the company works with the borrower to keep their loan.
Winner, Winner, Chicken Dinner. This should apply to every day life, not just a business like real estate. I'm glad someone has come forward with some ideas, but it shouldn't take a politician to come up with something like that. Just because someone screws up once you shouldn't write them off as worthless to you. Taking the time to talk to someone to figure out what they can do to help not only themselves but you as well makes a little more sense than just ripping away whatever opportunities they might have to be successful. Don't make it all about you. Make it about them as well. If someone feels more comfortable with you, they are more likely to be inclined to do whatever they can to make the situation good for all parties involved. So instead of automatically sending things to collections and just chalking it up as a loss, companies should take the time to work with the consumers to come up with solutions to the problem.
Senator Eliot Shapleigh, D-El Paso, is so worried about the consequences of a real estate bust in Texas that he asked Governor Rick Perry to call a special session next year on the issue. Perry has yet to respond, but when he does, I hope he is as open minded on the topic as Attorney General Abbott is and makes the decision to at least call a special session to discuss this matter. If not, the real estate bubble in Texas will no doubt be ready to burst.
Rangel Article: http://www.amarillo.com/stories/102207/new_8745435.shtml
Information on Subprime Loans: http://en.wikipedia.org/wiki/Subprime_lending
Thursday, October 18, 2007
15 million dollar price tag
By Stephanie Kelley
As I was flipping through the paper, an article in last Friday’s Statesman sparked my attention: “Owner says he can't afford to donate it to county but is looking for a private buyer rather than a developer.” The land the article is referring to is Windy Point a Lake Front Park on Lake Travis. I stopped to read the article because it sounded genuine; it sounded like the owner really intended the land to maintain accessible to the people. I was intrigued because usually people are just out for personal gain. In any case I read the article only to realize it was really just a publicity stunt or free advertising, as I would call it.
After reading into the article you find out that the seller already planned to get rid of the land, but the deal with a Houston developer fell through. So now he is just getting the word out to prospective buyers who are able to pay the ticket price of a whopping 15 million dollars. "Whoever comes up with the money gets it first" says Bob Barstow. He goes on to make sure to mention that "It's a trophy piece of property."
The article quotes the parks director for Travis County, Charles Bergh, who has obviously is on bad terms with Barstow. "This thing could go real quick and painless if Bob would just donate it to the county," Bergh said. "But I do not think Bob wants to donate his land to the county in light of our past." Now I’m not saying that he should donate it. It’s his land and he can do what he wants. But if he was serious about trying to keep it accessible to the public he could at least lower the price tag a little bit so that more than just developers could afford it or so that the county/state could buy it.
To me this article just sounded like a last attempt to get someone with a lot of money to take it off his hands so he could retire to Fiji, “My motto is, 'Meet me in Fiji as soon as the property sells.'” At the ripe age of 78, it seems like, more than anything, Barstow wants to retire rich and quick. "I want to spend the rest of my life having fun," he said. "I've paid my dues." I guess when you get that old you can do what you want…
Windy Point Park on the market for $15 million
“Owner says he can't afford to donate it to county but is looking for a private buyer rather than a developer.”
By Shonda Novak
AMERICAN-STATESMAN STAFF
Friday, October 12, 2007
http://www.statesman.com/business/content/business/stories/realestate/10/12/1012windypoint.html
As I was flipping through the paper, an article in last Friday’s Statesman sparked my attention: “Owner says he can't afford to donate it to county but is looking for a private buyer rather than a developer.” The land the article is referring to is Windy Point a Lake Front Park on Lake Travis. I stopped to read the article because it sounded genuine; it sounded like the owner really intended the land to maintain accessible to the people. I was intrigued because usually people are just out for personal gain. In any case I read the article only to realize it was really just a publicity stunt or free advertising, as I would call it.
After reading into the article you find out that the seller already planned to get rid of the land, but the deal with a Houston developer fell through. So now he is just getting the word out to prospective buyers who are able to pay the ticket price of a whopping 15 million dollars. "Whoever comes up with the money gets it first" says Bob Barstow. He goes on to make sure to mention that "It's a trophy piece of property."
The article quotes the parks director for Travis County, Charles Bergh, who has obviously is on bad terms with Barstow. "This thing could go real quick and painless if Bob would just donate it to the county," Bergh said. "But I do not think Bob wants to donate his land to the county in light of our past." Now I’m not saying that he should donate it. It’s his land and he can do what he wants. But if he was serious about trying to keep it accessible to the public he could at least lower the price tag a little bit so that more than just developers could afford it or so that the county/state could buy it.
To me this article just sounded like a last attempt to get someone with a lot of money to take it off his hands so he could retire to Fiji, “My motto is, 'Meet me in Fiji as soon as the property sells.'” At the ripe age of 78, it seems like, more than anything, Barstow wants to retire rich and quick. "I want to spend the rest of my life having fun," he said. "I've paid my dues." I guess when you get that old you can do what you want…
Windy Point Park on the market for $15 million
“Owner says he can't afford to donate it to county but is looking for a private buyer rather than a developer.”
By Shonda Novak
AMERICAN-STATESMAN STAFF
Friday, October 12, 2007
http://www.statesman.com/business/content/business/stories/realestate/10/12/1012windypoint.html
Monday, October 15, 2007
This Old Porch
By: Jay Heinrich
When I think of a front porch, I think of sitting around as the sun goes down, drinking my beverage of choice, and telling stories with my friends and family. I had a small front porch growing up, but it definetly served a purpose. While the number of front porches is dramatically decreasing with the large numbers of apartment complexes and condos being constructed, those who choose to live in a house in Austin are often drawn to houses with the symbol of togetherness that is the front porch.
In a recent Austin-American Statesman article written by Amber Novak, the author compares the front porch to types of Americana such as apple pie and baseball. I could not agree more. Emblazoned in my memory is my small town neighborhood with front porches on every home. Neighbors sitting around in the evening having conversations from porch to porch. Kids throwing a football or baseball in the street. The sound of baseball cards in tire spokes as bicycles went up and down the road. It seemed so normal. Since I moved to Austin, though, the normalcy has quickly faded.
There is still hope for the front porch, even in a growing city like Austin. In Novak's article, Lin Team, a real estate agent with the Kinney Co., says that front porches are, "a very important feature for my clients. They [the clients] are really attracted to a house with a comfortable front porch." Blooming neighborhoods like the Plum Creek community out in Kyle are giving families the opportunities to have the stage for social interaction. The article states that while a few houses in Plum Creek do not have porches, the large majority has porches that are at least 6 feet in depth. As a former resident of Plum Creek in its fledgling days as a community, I can speak first hand that the porch I had at my house was great for the same reasons my porch back in my hometown was.
If you can't think of any reasons why you should hold front porches in high regard, i'll give you three: late night talks, new friends, and first kisses. Like Robert Earl Keen said in the Front Porch Song,
"This old porch is just a long time of waiting and forgetting
Remembering the coming back, not crying about the leaving."
I want to go back to my small hometown and sit on my front porch right now. I bet someone will be there waiting.
Novak article:
http://www.statesman.com/business/content/business/stories/statesmanhomes/10/07/1007porches.html
Robert Earl Keen Lyrics:
http://www.cowboylyrics.com/lyrics/keen-robert-earl/front-porch-song-11823.html
When I think of a front porch, I think of sitting around as the sun goes down, drinking my beverage of choice, and telling stories with my friends and family. I had a small front porch growing up, but it definetly served a purpose. While the number of front porches is dramatically decreasing with the large numbers of apartment complexes and condos being constructed, those who choose to live in a house in Austin are often drawn to houses with the symbol of togetherness that is the front porch.
In a recent Austin-American Statesman article written by Amber Novak, the author compares the front porch to types of Americana such as apple pie and baseball. I could not agree more. Emblazoned in my memory is my small town neighborhood with front porches on every home. Neighbors sitting around in the evening having conversations from porch to porch. Kids throwing a football or baseball in the street. The sound of baseball cards in tire spokes as bicycles went up and down the road. It seemed so normal. Since I moved to Austin, though, the normalcy has quickly faded.
There is still hope for the front porch, even in a growing city like Austin. In Novak's article, Lin Team, a real estate agent with the Kinney Co., says that front porches are, "a very important feature for my clients. They [the clients] are really attracted to a house with a comfortable front porch." Blooming neighborhoods like the Plum Creek community out in Kyle are giving families the opportunities to have the stage for social interaction. The article states that while a few houses in Plum Creek do not have porches, the large majority has porches that are at least 6 feet in depth. As a former resident of Plum Creek in its fledgling days as a community, I can speak first hand that the porch I had at my house was great for the same reasons my porch back in my hometown was.
If you can't think of any reasons why you should hold front porches in high regard, i'll give you three: late night talks, new friends, and first kisses. Like Robert Earl Keen said in the Front Porch Song,
"This old porch is just a long time of waiting and forgetting
Remembering the coming back, not crying about the leaving."
I want to go back to my small hometown and sit on my front porch right now. I bet someone will be there waiting.
Novak article:
http://www.statesman.com/business/content/business/stories/statesmanhomes/10/07/1007porches.html
Robert Earl Keen Lyrics:
http://www.cowboylyrics.com/lyrics/keen-robert-earl/front-porch-song-11823.html
Thursday, October 11, 2007
“City of Hutto gives upper leg to new retailers”
By: Stephanie Kelley
An article in the Austin American Statesman yesterday revealed Hutto’s new plans to create a 466 acre mixed-use development project. The site will have office space, housing, new retail sites and will have a toll road running straight down the middle of the property.
On Wednesday, October 10, 2007 the Hutto Mayor Kenneth Love officially signed off on a deal that will give ACD-GREP II Hutto Real Estate LLC a $52 Million incentive to build in Hutto.
Critics say it doesn’t look fair to other retailers who have already built in Hutto and didn’t receive any incentive of their own. “The city would be giving the development a leg up on other retail outlets.” said Grass-roots lobbyist Jeff Heckler, who opposes the Domain’s package. His sentiment has a valid point, and it is more than likely the general thoughts of all the other retailers in the area.
City Manager Ed Broussard added the fact that, although they are able to offer incentives on a case-by-case basis, this incentive also had benefits for the city. By allowing this incentive to go through, Hutto officials provided the city leverage in reaching a separate agreement that gives it more control over landscaping, parks and other infrastructure on the site. So it can be seen as a positive from any angle.
I don’t think it is fair to the other retailers out there that this new Hutto Domain will get incentives to build there, but I think the Hutto Mayor and City Council are only looking after the best interests of the city. According to Texas’s demographer’s office the City of Hutto is the fasted growing city of the state and with the building of this new site they will be giving people even more reason to move there. And for those who already live there, they will be given another reason to stay in Hutto for the convenience of these shopping areas. I think they’re just trying to ensure Hutto’s future as a bigger city with more to offer. If that costs them a little in the beginning to get the proverbial “ball” rolling, then so be it. Years down the line, with this deal already working for them, they will have other developers begging to build there. In other words, by acting aggressive now, they will be able to reap the benefits of an ever-growing small town.
Austin American Statesman
“Hutto gives sales tax dollars to developer”
Andrea Lorenz
KVUE News
“Hutto leaders make development deal”
Rudy Koski
Monday, October 8, 2007
Houses go up, Values go down
By: Jay Heinrich
The recent market for new homes in the United States as a whole has taken a hit, and the Texas market is following suit. Accourding to an article in the Austin-American Statesman on October 7th written by Shonda Novak and M.B. Toboada, while homes available for sale across Central Texas were at a four year high this August, sales were down 10 percent.
To me, the solution seems pretty simple. Build less houses, fewer houses sit around without a family. Not so fast, my friend. Apparently, builders have decided to cut back on a miniscule basis. All this has done is keep inventory low and prices up. According to a Texas A&M study, the Texas new home industry will continue on a decline until houses start going up at a much slower rate. So in a way, my theory is correct. However, home builders and building companies need to cut back dramatically instead of microscopically.
Not only are individual home owners/ potential sellers hurting, but big business builders are feeling the pain as well. Subdivisions are coming to a complete halt. Prices are not expected to ease up any time soon either, with prices forecasted to rise in 2008 as well.
Hopefully, home builders will heed warnings and stop building new houses at such a high rate. However, for people worried about the rising prices of a new home, according to Michelle Perris, the broker/owner of Michelle Perris Real Estate, "The sky is not falling, not at all. I think that people will get over the national news, and they're going to be fine." If a potential home buyer or seller believes this, though, i believe they are in for a rude awakening.
The recent market for new homes in the United States as a whole has taken a hit, and the Texas market is following suit. Accourding to an article in the Austin-American Statesman on October 7th written by Shonda Novak and M.B. Toboada, while homes available for sale across Central Texas were at a four year high this August, sales were down 10 percent.
To me, the solution seems pretty simple. Build less houses, fewer houses sit around without a family. Not so fast, my friend. Apparently, builders have decided to cut back on a miniscule basis. All this has done is keep inventory low and prices up. According to a Texas A&M study, the Texas new home industry will continue on a decline until houses start going up at a much slower rate. So in a way, my theory is correct. However, home builders and building companies need to cut back dramatically instead of microscopically.
Not only are individual home owners/ potential sellers hurting, but big business builders are feeling the pain as well. Subdivisions are coming to a complete halt. Prices are not expected to ease up any time soon either, with prices forecasted to rise in 2008 as well.
Hopefully, home builders will heed warnings and stop building new houses at such a high rate. However, for people worried about the rising prices of a new home, according to Michelle Perris, the broker/owner of Michelle Perris Real Estate, "The sky is not falling, not at all. I think that people will get over the national news, and they're going to be fine." If a potential home buyer or seller believes this, though, i believe they are in for a rude awakening.
Thursday, October 4, 2007
Out with the Power Plant in with a Park!
By: Stephanie Kelley
One of the things I look forward to in the upcoming years is the purchase of my first home. I want it to be “perfect”, but in reality I will settle for “affordable”. For some people, an affordable place to live means living in poorer neighborhoods. But what happens when you are affected by the steady rise in property values? Let’s debate…
In last Sunday’s Statesman, an article by M.B. Taboada highlights a positive spin to the closing of the 16-story Holly Power Plant. Once a building that no one wanted to reside around, this land is now set to be an attractive park and residential area. Homes are being sold at record highs. Taboada sites that “Two have already been spoken for, and another will go on the market for $649,000—prices unseen in East Austin just a few years ago.” The addition of these nice homes and condos is attractive for several reasons. No longer having the presence of the power plant is one of the biggest attractions. A new development with a new park with a great locale near Ladybird Lake also help make this a new and exciting part of the development and attempts to raise property values in East Austin.
One of the concerns of certain residents in the area is the fact that adding these nicer homes is going to cause a raise in property taxes. Some people have already reported that they have had to move out of the area already. This part of town has the highest rate of poverty in the city of Austin, so any rise in taxes can potentially be back-breaking. Larry Warshaw, who has helped in several East Austin condominium projects, says that the addition of these new houses will not “have much impact on speculation, or increased real estate. It would be hard to imagine faster appreciation.”
Regardless what side you see to be right or wrong, one thing is certain, and that is the demand for these homes to go up. Austin is ever-growing, a simple fact we will have to face. And as a result, the demand for homes to be built will be constant. When I look at my first home, I will make sure to examine all angles, including the potential for a rise in taxes. However in this ever-growing Austin it looks to be inevitable.
Austin American Statesman
"Neighborhood in Holly Power Plant's shadow undergoing change"
By: M.B. Taboada
Wednesday, October 3, 2007
The Three Towers?
Showdown at the Planning Commission over Riverside Highrises by: Kate Miller Morton
http://www.statesman.com/blogs/content/shared-gen/blogs/austin/cityhall/entries/2007/10/03/showdown_at_the_planning_commi.html
The newest chapter in the battle over Town Lake will take place Oct. 9th before the Austin Planning Commission. Despite zoning laws capping the distance new structures can be built at two hundred feet from the water, CWS is seeking to build three seventeen story condominiums on E. Riverside. If the board votes against the proposal CWS will convert apartment complexes into three story townhouses through a loop hole in the two hundred foot zoning law.
If allowed to build the condominiums, CWS has promised to extend the hiking trail along the south shore of Town Lake. This promise has helped the proposal to gain the support of some local organizations. If the proposal is denied not only will CWS go ahead with its condos (200 ft from the water), they will convert moderately priced apartments into expensive townhomes and will not build a connection for the hiking trail or donate land to the park.
While a hiking trail that connects from the east and west of i35 would be beneficial for those who use the trail, it is, in my opinion, not worth the destruction of affordable housing for the residents of South Austin. There are other ways to connect the hiking trail without building a seventeen story condo right beside it. Not only do high rise condos increase the cost of living for those in the central and south downtown areas, but it causes the price of other low income areas to increase resulting in a shortage of affordable housing.
There is also a disturbing precedent which will be set if the board approves CWS's proposal. If all a development company has to do to sidestep Austin's zoning laws is throw a small portion of land at it then all control over housing and real estate will be lost. An approval will send the message that the future culture of Austin is for sale to the highest bidder. In my opinion, no length of bike trails is worth that.
Samuel Paul Wyser
http://www.statesman.com/blogs/content/shared-gen/blogs/austin/cityhall/entries/2007/10/03/showdown_at_the_planning_commi.html
The newest chapter in the battle over Town Lake will take place Oct. 9th before the Austin Planning Commission. Despite zoning laws capping the distance new structures can be built at two hundred feet from the water, CWS is seeking to build three seventeen story condominiums on E. Riverside. If the board votes against the proposal CWS will convert apartment complexes into three story townhouses through a loop hole in the two hundred foot zoning law.
If allowed to build the condominiums, CWS has promised to extend the hiking trail along the south shore of Town Lake. This promise has helped the proposal to gain the support of some local organizations. If the proposal is denied not only will CWS go ahead with its condos (200 ft from the water), they will convert moderately priced apartments into expensive townhomes and will not build a connection for the hiking trail or donate land to the park.
While a hiking trail that connects from the east and west of i35 would be beneficial for those who use the trail, it is, in my opinion, not worth the destruction of affordable housing for the residents of South Austin. There are other ways to connect the hiking trail without building a seventeen story condo right beside it. Not only do high rise condos increase the cost of living for those in the central and south downtown areas, but it causes the price of other low income areas to increase resulting in a shortage of affordable housing.
There is also a disturbing precedent which will be set if the board approves CWS's proposal. If all a development company has to do to sidestep Austin's zoning laws is throw a small portion of land at it then all control over housing and real estate will be lost. An approval will send the message that the future culture of Austin is for sale to the highest bidder. In my opinion, no length of bike trails is worth that.
Samuel Paul Wyser
Tuesday, October 2, 2007
East Austin Wins the Fight to Become Powerless
A power plant in East Austin was finally laid to rest after almost a decade of neighbors trying to turn off its lights. The power plant was built in the '60s and early '70s and consisted of four
cells. The Holly Power Plant was a natural gas burning power plant that produced approximately 358 MW of energy. Although the plant's production has been shut down, the lifeless structure could take up to two years to come down.
The concern of the locals was that the PCBs and high sulfur burning could cause adverse health effects. A study done by the Texas Department of Public Health in 1999 did not find any conclusive evidence. They stated in the report that:
So through it all, I am proud of the neighbors of the Holly Power Plant for fighting for alternative energy sources and trying to improve the air quality where they live. Although the reports that I found on the power plant (all one of them) contradicted itself many times; a power plant next to a residential neighborhood is never a good thing to have. Hopefully more communities will be fighting for cleaner air in their area, leading to alternative energy sources.
Article: http://www.news8austin.com/content/top_stories/default.asp?ArID=192851
Report: http://www.atsdr.cdc.gov/HAC/PHA/aus/aus_p2.html
-Gregory
cells. The Holly Power Plant was a natural gas burning power plant that produced approximately 358 MW of energy. Although the plant's production has been shut down, the lifeless structure could take up to two years to come down.The concern of the locals was that the PCBs and high sulfur burning could cause adverse health effects. A study done by the Texas Department of Public Health in 1999 did not find any conclusive evidence. They stated in the report that:
Data are not available to determine if rates of respiratory illnesses or other health problems are higher in the neighborhood around the Holly Street Power Plant. According to available data, the only time that the plant would be likely to produce contaminants associated with respiratory illness would be on the occasions when it burned high sulfur content fuel oil. Based on the air modeling results, it is possible that when high sulfur content fuel was burned in the past, sulfur dioxide levels could have been high enough to temporarily affect sensitive individuals. The voluntary conversion to a low sulfur content fuel oil should ensure that sulfur dioxide emissions remain below the levels potentially able to cause adverse reactions in sensitive individuals. Under current operating conditions, it is not likely that the plant would be responsible for increased rate of respiratory illnesses or other health problems.Although the same report also stated this:
For the years 1989 to 1992 the lung cancer experience for African American males and White females living in this zip code area is significantly greater than would be expected.The fight to remove the plant started in the early '90s and officials said the plant would be retired as soon as it was practical. Energy alternatives have been found and now the plant can now be put to rest. The residents around the Holly Power Plant held a candle light vigil Sunday night when the plant was shut down. Although the residents were happy about the plant being shut off, they weren't happy about the rumor of condos taking the plant's place. Luckily though, officials are throwing $18 million of our money at the project of turning the land into dedicated park land.
So through it all, I am proud of the neighbors of the Holly Power Plant for fighting for alternative energy sources and trying to improve the air quality where they live. Although the reports that I found on the power plant (all one of them) contradicted itself many times; a power plant next to a residential neighborhood is never a good thing to have. Hopefully more communities will be fighting for cleaner air in their area, leading to alternative energy sources.
Article: http://www.news8austin.com/content/top_stories/default.asp?ArID=192851
Report: http://www.atsdr.cdc.gov/HAC/PHA/aus/aus_p2.html
-Gregory
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