Big news on West Sixth Street: an iconic shopping center changes hands and, further east, a new high rise is set to be built.
You won’t be surprised that even more changes are coming to the ever-developing Rainey Street area, with the last single-family home slated for conversion into a bar, and two more bars undergoing significant renovations.
South Lamar continues its transformation, with a trio of auto-related businesses making way for a mixed-use development featuring office space, residential units and storefronts.
Did you know that if your home doesn’t have two master suites, you’re not at the forefront of luxury living?
Live like a movie star in Katie Holmes’ Los Angeles-area estate, which is on the market for a cool $4.6 million.
Read on to learn more!
Iconic Austin Retail Center Changes Hands
The shopping Center at West Sixth Street and North Lamar Boulevard — the one that houses Waterloo Records & Video and Amy’s Ice Creams — has been acquired by Austin-based developer Endeavor Real Estate Group, which owns a number of downtown properties. While terms of the sale were not disclosed, the property has an appraised value of $7.55 million per the Travis Central Appraisal District. Endeavor did not disclose plans for the site, but indicated that they would do everything possible to make the transition a smooth one, according to the Austin American-Statesman.
More High-Rise Activity Downtown
Just when you think downtown must be out of space for more towers, another high-rise pops up on the planning radar. National real estate firm Ryan Companies is said to be in the early planning phases of a mixed-use apartment and office tower on a half acre at the southeast corner of West Sixth and Guadalupe streets. The building is expected to contain about 360 apartment units, and will likely continue to house BBVA, a bank currently on the property.
Changes on Rainey Street
Eater Austin reports that the last remaining single-family home on Rainey Street is being converted into a bar. The hip and energetic entertainment district is home to numerous hotels and bars, the newest of which, at 71 Rainey Street, will be called Rainey Tavern. Meanwhile Clive Bar, at 609 Davis Street, is planning to add a second floor, and will remain open during the transition. And the owner of The Alibi, at 96 Rainey Street, wants to replace the bungalow that houses his establishment with a new two-story building.
Another Mixed Use Project on South Lamar
Like much of Austin, South Lamar Boulevard is booming, and a planned development at a tract comprising 1303, 1311 and 1401 South Lamar Boulevard exemplifies the trend. The 3.8-acre plot will become the site of a mixed-use project consisting of two buildings housing 138,780 square feet of office space and 309 apartment units, as well as ground-floor retail space. Three businesses — Austin’s Automotive Specialists, Genie Car Wash, and Jiffy Lube — will be ousted from the site.
New Luxury Homes Have Two or More Master Suites
According to Forbes.com, dual master suites — also known as “owner suites” — are among the latest trends in new luxury developments. Multi-generational households, especially, appreciate houses with more than one full master suite, each with a full set of amenities, such as an attached bathroom and large closets. Often a second master suite has its own exterior entrance. Some homes are even being built with three master suites!
Probably About as Close to Katie as You’re Gonna Get
Actress Katie Holmes has placed her six-bedroom, 6.5 bathroom European contemporary home in Calabasas, Calif., on the market for $4,625,000. The estate sits on close to a half-acre and includes a main residence and a separate guest house, the two of which comprise 6,040 square feet. The property is on a private cul-de-dac and borders conservancy land. The home features a spacious foyer with a library loft. The kitchen offers professional grade appliances, including two dishwashers and three ovens.