Long-delayed project finally begins construction.

By Shonda Novak
AMERICAN-STATESMAN STAFF
Tuesday, January 29, 2008

The Four Seasons Residences, one of downtown Austin’s highest profile luxury condominium towers, will break ground this week, seven years after initial plans were thwarted by the tech bust of 2001.

The newly designed 32-story tower will rise in the parking lot next to the Four Seasons Hotel overlooking Lady Bird Lake. The building’s 166 residences will be priced from $400,000 to $4 million, with units from 880 to 5,500 square feet.

Four Seasons will manage the building, which is expected to open in the first quarter of 2010 and become a landmark on the evolving skyline.

The $125 million project is a venture between local developers Ardent Residential and Atlanta-based Post Properties Inc, the financier. Michael Graves & Associates Inc. designed the tower, which will have a terracotta-colored brick base that will blend with the hotel, developers say.

>>> Click for Entire Article

Tags: austin, buyers, money, neighborhoods by Aria
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By Matt Presser | Tuesday, January 29, 2008, 10:11 AM

Eleven companies with ties to the Austin area are among the 53 Fortune 500 corporations that participated in a challenge by the U.S. Environmental Protection Agency to use more renewable power.

The EPA published a list Monday ranking the top companies for purchasing green power, which is generated from renewable resources such as solar, wind and biogas, rather than using conventional power technologies that contribute to greenhouse gas emissions.

Intel Corp., which has an office in Southwest Austin, ranked first on the list of corporations by purchasing 1.3 billion kilowatt-hours of green energy per year.

>>> Click for entire article 

Tags: austin, environment, green by Aria
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MM’s eighth annual countdown of the best places to live, work and make movies

by Jennifer M. Wood | Published January 28, 2008

When working on a project as research-intensive as this one, the word you never want to encounter is “unpredictable.” But as entertainment professionals and consumers alike have lately discovered, that’s an appropriate description for the current state of the film industry. From the writers’ strike, still ongoing at press time, to possible actors’ and directors’ strikes in June, it’s definitely not business as usual.

…

Now, onto the rankings…

1) Austin, TX

 >>>Click for Full Article

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Austin Wins!

Today, the U.S. Conference of Mayors, Novelis Inc. and Keep America Beautiful, Inc. (KAB) announced the winners in the fourth annual Cans for Cash: City Recycling Challenge at the U.S. Conference of Mayors 76th Winter Meeting in Washington, D.C. To encourage recycling, the program challenges like-sized cities to compete against each other in aluminum can collection for monetary awards. During October 2007, more than 50 cities collected over 191 million used beverage cans.

“Through the City Recycling Challenge, we continue to actively promote and encourage growth in aluminum can recycling programs in communities,” said Kevin Greenawalt, President, Novelis North America. “In addition to its economic benefits, recycling reduces carbon emissions which helps combat climate change; so it is more important than ever to energize community recycling and build a sustainable environment. By recycling these aluminum cans, cities avoided more than 24,000 tonnes of greenhouse gas emissions, which is equivalent to taking more than 25,000 cars off the road for a year.”

“We are proud that our Cans for Cash Program helped jump-start existing programs and redirected many communities to focus on a common goal,” said Douglas H. Palmer, Trenton Mayor and President of The U.S. Conference of Mayors.

“The City Recycling Challenge is an excellent example of the type of sustainable initiatives we are encouraging through the U.S. Conference of Mayors’ 10-Point Plan. As outlined in the 10-Point Plan, cities are encouraged to implement programs to improve community energy efficiency and reduce community carbon emissions. The goals of the Recycling Challenge complement this and demonstrate how aluminum can recycling positively impacts the environment. Participating cities should be excited and proud that they contributed to the recycling of more than 4.5 million pounds of aluminum cans.”

he winners of the $5,000 awards for the most aluminum cans recycled are:

• Division One (population 250,000+) Milwaukee, WI* - 1,385,328 pounds, Mayor Tom Barrett
• Division Two (population 100,000-249,999) Fontana, CA* - 774,614 pounds, Mayor Mark Nuami
• Division Three (population 50,000-99,999) Des Plaines, IL - 1,120,660 pounds, Mayor Anthony Arredia
• Division Four (population below 50,000) Richmond, IN* - 43,381 pounds, Mayor Sally Hutton

* Note: 2006 Winners in Division Category

To help mayors engage their communities in recycling and raise awareness about its importance over the long term, cities submitted innovative education and marketing ideas for an additional $5,000 award. The cities being recognized for the most innovative campaigns are as follows:

• Division One: Austin, TX, Mayor Will Wynn
• Division Two: Irvine, CA, Mayor Beth Crom
• Division Three: Fargo, ND, Mayor Dennis Walaker
• Division Four: Poland OH, Mayor Christine Yash

>>>Click for full article

Tags: austin, environment, green, marketing, money by Aria
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Try to spend no more than half your after-tax income on housing, one expert suggests

By Mary Ellen Slayter
THE WASHINGTON POST
Sunday, January 20, 2008

For most people, a home is the most expensive purchase they will ever make. Figuring out how much they should spend can be overwhelming.

Online calculators can give a ballpark idea but shouldn’t be relied on for a final decision, said Paul Cocozza, a certified financial planner in Arlington, Va. “That’s taking too much of a shortcut for such a large commitment.”

How to decide? Your budget is a function of your income, household expenses, credit and savings.

Traditionally, the guideline was that no more than 28 percent of gross income should go toward housing expenses, including the mortgage payment, homeowners insurance, homeowners or condo association fees, and real estate taxes. No more than 36 percent would go toward those housing costs plus all other debt expenses, including car notes, school loans and credit card payments.

Many lenders have stretched those requirements, allowing up to 39 percent of gross income to go toward housing and other debt. But just because a lender says you can afford a loan doesn’t mean you should spend that much. >>>Click for Full Article

Tags: buyers, financing, lending by Aria
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MySpace pages, craigslist and blogs being used to lure buyers to housing developments

By Antoinette Martin
THE NEW YORK TIMES
Sunday, January 20, 2008

A condominium building under construction in Brooklyn has its own MySpace page. (”Scorpio” structure seeks “great people from the Metro area, and beyond, that want to live in a thriving community.”)

Some garden apartment rentals in New Jersey and a condo complex in Orange County, N.Y., have their own blogs.

In Stamford, Conn., the developer of a super-high-end condo tower is eschewing use of free classified-ad listings on craigslist.com to lure buyers, since “every mom-and-pop building these days is doing it.” But the company is putting big money into a virtual tour for its project Web site.

“A lot of people do all their home shopping online, start to finish,” said Kelly Marzullo of Core Marketing Group, which is using the Web to promote various Manhattan buildings and the Peninsula at City Place in Edgewater, N.J.

“People like to know everything about a building before they come in, or at least have a taste and a feel,” Marzullo said. Her Manhattan-based company does advertise properties on craigslist, building in links to Web pages that might include photographs, digital drawings, video, floor plans and the range of asking prices.  >>> Click for full article

Tags: marketing, sellers by Aria
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Friday, January 18, 2008

Austin Business Journal - by Jean Kwon ABJ Staff

The Austin City Council later this month may approve some of the city’s most aggressive affordable housing incentives to date targeted at developers and builders of downtown and Central Business District projects.

Developers of high-rise condos and other multifamily projects located downtown and within a 2-mile radius of Sixth Street and Congress Avenue who reserve a small percentage of units for affordable housing will automatically be able to exceed floor-to-area and height limits, potentially getting substantial boosts in density. These bonuses will be in addition to perks given during the development review process such as fee waivers and fast-track approval. Council members are set to review the proposed ordinance on Jan. 31.

To get the bonuses, developers must keep at least 10 percent of condo units affordable to households making equal to or less than 120 percent of Austin’s median family income. In 2007, the median income for a family of four was about $71,125. Rental units deemed affordable would have to be within reach to those who make equal to or less than 80 percent of the median family income, which is about $45,500 for a couple.

Alternately, instead of building affordable units on-site, developers may be able to contribute money to a fund devoted to paying for affordable housing elsewhere downtown. In the proposed ordinance, developers who choose the fee-in-lieu option would pay $10 for every square foot that exceeds the FAR limitation. That fee is based on the current value of land in downtown, which ranges from $15 to $20 per buildable square foot.

By code, downtown projects are limited to 5-to-1 FAR — meaning they can build up to five times the area of their lot. Central Business District projects are limited to 8-to-1 FAR and heights up to 120 feet. Under the proposed ordinance, the City Council would have the discretion to waive these limits altogether, depending on the project.  >>> Click for full article

Tags: buyers, money, neighborhoods, sellers by Aria
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Major remodeling of rooms may get you less bang for your buck

By By Amy Hoak
MARKETWATCH
Sunday, January 13, 2008

CHICAGO — Homeowners interested in getting the biggest bang for their remodeling buck might want to shelve the idea of full-blown room remodeling and opt for more practical replacement projects that reduce home-maintenance needs, increase energy efficiency or improve curb appeal, according to a recent report.

Remodeling magazine’s annual Cost vs. Value Report found late last year that seven out of the top 11 projects that paid off the most at resale were replacement projects, said Sal Alfano, editorial director for the magazine. That includes window and siding replacements.

Also, minor remodeling is paying off more than expansive room improvements, according to the 2007 report. Construction costs for common remodeling projects were compared against the share of those costs recovered at resale, with projects broken down into “midrange” and “upscale” categories.

National, regional and city data can be viewed at the magazine’s Web site, www.costvsvalue.com.  >>> Click for full article

Tags: marketing, money, sellers, staging by Aria
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Buyers take a fresh look at new and remodeled homes just across I-35 from downtown

By Charles Ealy
AMERICAN-STATESMAN STAFF
Sunday, January 13, 2008

The numbers will probably surprise anyone who hasn’t ventured east of Interstate 35 lately. The 78702 ZIP code in East Austin currently has more than 150 properties for sale, and they’re just as eclectic as the artists who live in that part of the city.

A slew of modernist homes and condominiums are going for $400,000 to $600,000 or more. Remodeled homes are listed for up to $675,000. And four lots at the corner of Martin Luther King Jr. Boulevard and Harvey Street are on the market for $1.8 million.

The details reveal the big trends in a real estate area that got little attention 20 years ago. And it’s not hard to figure out why.

Despite a median home price that has risen by more than 50 percent in the past five years to $199,000, East Austin is still within reach of many potential home buyers, especially when compared with nearby Austin neighborhoods such as Travis Heights, Hyde Park and Tarrytown.  >>> Click for full article

Tags: buyers, sellers by Aria
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January 12, 2008 News Media Release

Austin Energy’s GreenChoice® program, the number one utility-sponsored green power program in the nation for sales every year since 2002, has a new supply of wind-generated electricity. The program will begin accepting new subscriptions January 14th at 9:00 am.

The new supply of green energy will come from two new West Texas wind farms, one that just began generating, another that will come on line at the end of this year. The first new wind farm, located about 75 miles northeast of Lubbock, Texas, will be sending Austin close to 200 million kilowatt-hours (kWh) annually for the next 15 years.

Green Charge Stays Fixed
When a customer subscribes to GreenChoice, the fuel charge on their electric bill is replaced by a green power (fuel) charge. The green power (fuel) charge for the new wind supply is 5.5 cents per kWh. That charge will stay fixed through 2023. The current standard fuel charge is 3.65 cents per kWh. The standard fuel charge can go up or down each year depending on the cost of power plant fuels such as natural gas. A residential customer subscribing to the new GreenChoice supply and using an average 1,000 kWh per month will pay an additional $18.50 per month during 2008.

New Supply To Be Allocated
To ensure the new supply of wind-generated power is equally available to all customers, 25% of the first wind farm supply will be reserved for residential and small business customers. In addition, applications by larger businesses will initially be limited to not more than 15 million kWh per business. When the second new wind farm comes on line at the end of this year, all businesses will again be eligible to buy a portion of that supply, also to be priced at 5.5 cents per kWh. Meanwhile, Austin Energy is investigating the ability to secure additional renewable energy supplies.

How to Subscribe
Residential customers can subscribe here or by calling 972-7548.

Key Account customers (these are the 200 largest AE customers) should contact their Key Accounts Manager.

All other business and commercial customers should call 972-7636 to talk to a commercial representative.

#1 Program in the Country
At the end of 2008, with both new wind farms on line, Austin Energy will have contracts for the annual output of 439 MW of wind turbines. The Utility also receives the annual output from 11 MW of generation powered by landfill methane. That means that by the end of 2008, about 11% of the power sold by Austin Energy will be coming from renewable resources.

Currently about 8,700 residential customers and 450 businesses participate in the GreenChoice program. Some 350 of those businesses subscribe for 100% of the annual electric usage. This gives Austin more 100% green-powered businesses than any city in the country.

For more information, contact Ed Clark, Public Information.
Phone: (512) 322-6514
Pager: (512) 802-2000

Click for link to Austin Energy’s Media Site

Tags: money by Aria
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