Austin may be the go to city for green building and innovations in alternative energy and energy saving construction, but it is not so great when it comes to saving on gasoline. A new study from Men’s Health magazine ranks Austinites 43rd out of a hundred major US cities when it comes to consumption of [...]
Austin may be the go to city for green building and innovations in alternative energy and energy saving construction, but it is not so great when it comes to saving on gasoline. A new study from Men’s Health magazine ranks Austinites 43rd out of a hundred major US cities when it comes to consumption of gasoline, subsequent quality of the city’s air, miles per gallon for their personal vehicles and the city’s mass transit system – both in quality and usage.
That’s still better than other cities in the state of Texas. Arlington hit the bottom of the list at 100th, and El Paso wasn’t much better, ranking 98th. Other cities in Texas that hovered near the bottom were Fort Worth at 95, San Antonio at 94, and Houston which came in at 86. Dallas fared a little better, showing up at 67th.
The best showing for cities in Texas were Lubbock, who came in at 32, and Corpus Christi, who was 34th.
According to the article in Men?s Health magazine, the poisonous emissions from the tailpipes of personal vehicles are responsible for 17 percent of the country’s greenhouse gases on an annual basis. Using data from such sources as the National Transit Database, the American Lung Association, Texas A&M’s Texas Transportation Institute and others, Men’s Health compiled the report, focusing on consumption, annual miles driven, the size, age, and tune-up schedule of personal vehicles, adding ozone and particulate matter in the city’s air plus the quality and usage of regional mass transit systems.
The Austin City Council has named Brewster McCracken to the new Mayor Pro Tem position at a special meeting on Wednesday, June 25, 2008. Mr. McCracken replaces Betty Dunkerley who had served as Mayor Pro Tem from June 20, 2005 to June 15, 2008. Mr. McCracken was nominated by council member Sheryl Cole and seconded [...]
The Austin City Council has named Brewster McCracken to the new Mayor Pro Tem position at a special meeting on Wednesday, June 25, 2008. Mr. McCracken replaces Betty Dunkerley who had served as Mayor Pro Tem from June 20, 2005 to June 15, 2008. Mr. McCracken was nominated by council member Sheryl Cole and seconded by Mayor Will Wynn. The nomination was passed unanimously.
The mayor pro tem serves as a stand in for the mayor, running council meetings, standing in as head of the city at ceremonies, and performing other duties in the mayor’s absence. Mr. McCracken has been a city council member since June of 2003. His mission, as a council member and as mayor pro tem, according to his web site, states “As your Council Member, I have a responsibility to be forward thinking in my initiatives and to be fair in my deliberations and decisions. Above all, I know that I have a responsibility to do my best to ensure that every Austinite has a better future and that we leave this place better than we found it.”
He takes evident pride in the city of Austin and is a big fan of Austin’s vision for alternative energy and green building initiatives. His focus is on supporting Austin’s leadership in emerging technology, including clean energy, digital media, and wireless technology, as well as maintaining Austin’s leadership world wide in semiconductor manufacturing and raise Austin’s status in the nation as one of the top five regions in the biotechnology field.
The Central Texas Regional Mobility Authority (CTRMA) board has decided to cease collecting cash tolls on US Highway 183A by the end of 2008. According to CTRMA, most of those drivers who use 183A on a regular basis pay using the TxTag system, which collects information about tolls electronically. CTRMA ascertained that it costs almost [...]
The Central Texas Regional Mobility Authority (CTRMA) board has decided to cease collecting cash tolls on US Highway 183A by the end of 2008. According to CTRMA, most of those drivers who use 183A on a regular basis pay using the TxTag system, which collects information about tolls electronically. CTRMA ascertained that it costs almost as much to run cash collection booths as it collects in tolls from those who use TxTag and so they elected to eliminate the cash booths as early as November 2008.
This is not to say they’re not going to stop collecting tolls altogether; they will just be going to an electronic means of collection – those drivers who have TxTags, Tolltags, or EZ-Tags will carry on as usual – as the drivers who do not have tags will still pay, but through the mail. CTRMA plans to put a camera system in place for tagless cars. They will have their license plates photographed at the booth and will receive a toll bill in the post. CTRMA predicts a savings of $1 million per year through this system.
More roads are in the plans for cashless toll collection as CTRMA sees the savings inherent in eliminating the cash collection booths. The CTRMA has plans to use electronic toll collection on any future toll roads, including the new Manor Expressway which is slated to begin construction in 2009. The Manor Expressway will run parallel to US Highway 290 to the east of the city of Austin.
Finished before it was even started, the Magnolia condo project was forced into foreclosure in July 2008.
The Magnolia was to have been a five-story condominium building close to the downtown area, consisting of 139 units priced at between $220,000 and $600,000. Amenities were to include private balconies or courtyards, an outdoor pool on the second [...]
Finished before it was even started, the Magnolia condo project was forced into foreclosure in July 2008.
The Magnolia was to have been a five-story condominium building close to the downtown area, consisting of 139 units priced at between $220,000 and $600,000. Amenities were to include private balconies or courtyards, an outdoor pool on the second floor, a fitness center, rooftop gardens, retail space, and granite counter tops among others. The project was estimated to cost $40 million and would have covered three acres on the corner of South Lamar and West Gibson Street.
A series of events, combine with bad luck and difficult topology, have scuppered plans for these luxury condos.
In February of 2007, the lender who was to finance the construction, Fremont Investment & Loan from Los Angeles, reneged on its loan promise. It seems the Federal Deposit Insurance Corporation (FDIC) refused to allow the lender to fund any new projects, as regulators tighten the purse strings on a nationwide scale.
Then, in October of 2007, the development company, Avena Development LLC, attempted to sell the project, and it was reported they had a buyer. The deal fell through in June of 2008 and foreclosure proceedings loomed. The undisclosed buyer backed out of the project purchase when they failed to find a partner to commit to the project.
The site is in a prime location, close to downtown and in a corner lot. There are projects with tree preservation and topography that were threatening to raise construction costs. Still, experts are cautioning against panic, saying this incident is isolated and “is related more to the specifics of the project and to the overall slowdown in residential sales and does not necessarily indicate the beginning of a trend in foreclosures.”
For the second year in a row, Houston, Texas, ranks second among major US cities for the average cost of obtaining a mortgage. Houston is topped only by New York City, while Buffalo, NY, comes in third, according to a survey done by Bankrate, Inc.. Based on a hypothetical $200,000 mortgage, Bankrate, Inc. surveys the [...]
For the second year in a row, Houston, Texas, ranks second among major US cities for the average cost of obtaining a mortgage. Houston is topped only by New York City, while Buffalo, NY, comes in third, according to a survey done by Bankrate, Inc.. Based on a hypothetical $200,000 mortgage, Bankrate, Inc. surveys the city with the highest populations in each of the fifty states throughout the nation to come up with the rankings. Bankrate also included some of the smaller cities to get a better idea of the state’s averages. The fees paid at closing time that they surveyed don’t include taxes, insurance or miscellaneous prepaid items – homeowner association fees, for example. The survey also assumes 20 percent down payment and a good credit rating.
In New York City, mortgage closing costs topped the $4,000 mark, with Houston close behind at $3,975. North Carolina was at the bottom of the list, where the average closing costs are $2,650.
Buyers often overlook the closing fees as part of the expense in buying a home, and they can often be quite high. It’s worth the homeowner’s time to really read documents closely and question the fees he or she is writing checks for. Some fees, such as origination and title search, can be negotiated. Also, as the housing market remains soft, certain fees have risen and certain other fees have been added on as lenders seek to cover their losses. Appraisal fees, in particular, have risen sharply as lenders request a more thorough, time-consuming job.
The list of fees is extensive and it behooves the homeowner to look closely at where their money is going.
The United States Green Building Council (USGBC) will be changing the process for green building certification in January 2009. Certification through the Leadership in Energy and Environmental Design (LEED) program has become extremely popular since its inception in the year 2000, with over 1,500 building having received certification and 11,000 more applying for it.
LEED awards [...]
The United States Green Building Council (USGBC) will be changing the process for green building certification in January 2009. Certification through the Leadership in Energy and Environmental Design (LEED) program has become extremely popular since its inception in the year 2000, with over 1,500 building having received certification and 11,000 more applying for it.
LEED awards points toward three levels of rankings – silver, gold, or platinum – by examining five key areas in a building’s design: sustainable development on the site, savings in water use, energy efficient lighting and temperature control systems, use of recycled or environmentally friendly materials, and quality of indoor air.
There have been growing complaints, however, that the application process is awkward and illogical, with small items like a bicycle rack and large expensive features such as an HVAC system receiving the same number of points toward certification. This is what the USGBC seeks to change.
The USGBC asked for public comment earlier this summer in a 30 day online forum that ended on June 22nd. The resulting new version, called LEED 2009, will revamp the rating system, streamlining it into one system and allocating points differently. The new system will be more flexible, more able to adapt to a continuously evolving industry as newer and better techniques and materials are developed, as well as accounting for different regions of the country.
The USGBC feels this new process will not only encourage builders and developers to incorporate environmentally friendly practices and materials into their construction, but will encourage innovation and make it easier for builders to seek LEED certification.
According to Allstate Insurance Company, drivers in Austin are 35 percent more likely to have a vehicular accident when compared to the nation as a whole. The report looks at insurance claims in the country’s 200 largest cities and concludes at Austin drivers are, for whatever reason, quite possibly the worse drivers in the nation.
In [...]
According to Allstate Insurance Company, drivers in Austin are 35 percent more likely to have a vehicular accident when compared to the nation as a whole. The report looks at insurance claims in the country’s 200 largest cities and concludes at Austin drivers are, for whatever reason, quite possibly the worse drivers in the nation.
In fact, Texans as a whole are fairly accident prone when they get behind the wheel. In the twenty cities the report examines, Houston drivers were 23 percent more likely to have an accident while in Dallas the probability is 27 percent and, in San Antonio, it’s 25 percent. Austinites also have more frequent accidents, with an average of less than seven and a half years between accidents. In Houston, it’s slightly over eight years, and about the same in Dallas – 7.8 years – and San Antonio – 8 years between accidents.
Sioux Falls, Iowa, checks in as the safest city for drivers in the national. Drivers there are 31 percent less likely to have a vehicular accident when compared with the rest of the US.
This report suggests that Texans aren’t as laid back as their stereotypical reputation might suggest. Maybe it’s the influx of new residents or the new popular trend to talk or text message while driving. It’s been proven in studies that using ones cell phone or other device while behind the wheel impairs ones driving ability to nearly the same degree as someone who is driving while intoxicated. So listen up, Austinites! Slow down, take it easy, and get off that cell phone!
The real estate market for professional office space continues to look grim as office vacancy in Austin rose to 16.5 percent during the second quarter of 2008. This is up slightly from the 16 percent vacancy rate reported for the first quarter.
Oxford Commercial, a tenant representative brokerage firm based in Austin, compiled the report and [...]
The real estate market for professional office space continues to look grim as office vacancy in Austin rose to 16.5 percent during the second quarter of 2008. This is up slightly from the 16 percent vacancy rate reported for the first quarter.
Oxford Commercial, a tenant representative brokerage firm based in Austin, compiled the report and released it on July 1st. The report reveals 37,000 square feet of office space vacant during the period between April and June 2008, fueled in part by the departure of Advanced Micro Devices, Inc., who left for their own brand new 870,000 square foot campus.
Developers have added approximately 300,000 square feet of new office space during the quarter which, combined with lack of interest, has helped to drive up the supply. Additionally, landlords are looking at lowering rents as a very last resort to address the vacancies.
Developers are in another quandary. The rising cost of construction and the need to fill space clash with each other as landlords consider more concessions such as higher tenant improvement allowances and even free rent. It’s somewhat easier to lower rents in existing space than the newer construction in light of the higher construction costs.
Purchasing your office still looks better than renting it.
Despite the gloomy picture painted by the report, downtown Austin is seeing a resurgence in interest among professionals, particularly in the central business district. Vacancy dropped from 16.1 percent to 15.5 percent during the first quarter of 2008, a sign that perhaps things are beginning to look up. Once again, Austin defies the national average.
Well, maybe not right away. Results from a recent survey released by Salary.com suggest that Austin is a great city to build your personal wealth. Ranked number thirteen on a list of 69 major US cities, Austin is near the top for its decent salary level, relatively low cost of living, proximity to institutes [...]
Well, maybe not right away. Results from a recent survey released by Salary.com suggest that Austin is a great city to build your personal wealth. Ranked number thirteen on a list of 69 major US cities, Austin is near the top for its decent salary level, relatively low cost of living, proximity to institutes of higher education, as well as unemployment rate and percentage of residents living below the poverty level.
Not surprisingly, New York, NY, Washington DC, Los Angeles and San Francisco, CA, and Honolulu, HI, were ranked at the bottom of the list, mainly because of the high cost of living relative to average salaries in those cities.
Plano, Texas, topped the list. Other Texas cities that made the top 35 were San Antonio, Houston, and Arlington, coming in at 24, 28, and 34 respectively.
The survey, called the Salary Value Index (SVI), takes salary data from US cities with populations of 250,000 and more and compares it to the cost of living in each area. Other factors considered were diversity of industry, education levels in the general population, and median commute times. These were factors added to the survey just this year.
According to Bill Coleman, chief compensation officer at Salary.com, “each additional qualifying factor helped to further refine the list by highlighting the ‘employment strength’ of cities with a variety of industry, strong focus on education, and low unemployment. The 2008 Salary Value Index represents cities with tremendous workforce and employer diversity and a sense of livability”, which describes the city of Austin to a “t”!
In addition to arguments over salary raises and health benefits – disagreements school boards throughout the country deal with every year – the Austin school board must tackle a third issue in deciding its budget this year: property taxes.
Currently, the district operates at the highest property tax rate it can, 1.04 percent, without turning to [...]
In addition to arguments over salary raises and health benefits – disagreements school boards throughout the country deal with every year – the Austin school board must tackle a third issue in deciding its budget this year: property taxes.
Currently, the district operates at the highest property tax rate it can, 1.04 percent, without turning to the board for a vote. And with property values rising, it is expected that taxes will bring in added revenue in the upcoming year. However, much of that revenue will be given to the state to be distributed among property-poor districts. In fact, Austin must send $61 million to the state, so any additional money resulting from higher property values won’t last long.
The district, therefore, is requesting a budget in which taxes are raised to $1.0765 per $100 of assessed property values, for a total of $1.1995 including debt. This will couple with an overall budget increase of 8.8 percent to $862.5 million for the 2008-09 year. Employees would also get a three percent raise, and full health coverage would remain intact.
Whether this increase will occur is yet to be seen, as there are several other proposed budgets, each with its own take on property taxes. Education Austin, for example, is looking for a budget increase with a 5 percent raise for employees, in addition to family health coverage (the district’s plan covered employees only) and a wage increase for hourly employees. The budget would call for a property tax rate of $1.243 including debt.
If there were no tax increase, there would be no raise for employees and employees would have to contribute $348 a year for health insurance.
The school board was scheduled to vote on August 6 at an evening meeting. The results of that vote are as of this posting unknown.
