I caught the tail end of a promo for East Austin Revealed, airing tonight @ 8:30 on KLRU. This might be of interest for those investing in the east side. From what I saw, it covers the history, current gentrification and high cost of property, affecting those who can no longer afford to stay.
Not sure I'll be able to tune in tonight, but would be curious to read comments from those who do watch it. It may be available to stream at a later date.
Yes, East Austin is so hot right now, i wish i can get some properties on that area ( 78702,78741) , but i can't, to expensive right now.
Thanks for the info
Thanks, Mike. I've got it DVR'd.
thanks mike for adding this.
I ended up watching it online, via the posted link. I thought it was a pretty good discussion, presenting all points of view of those concerned with preserving the history and developing the future on the east side.
As some of the lifelong residents pointed out, East Austin's property values have really shot through the roof in the last ten years, much like Travis Heights and SoCo. None were particularly desirable areas to live in, a few years back.
Times do change. I think Former Rep. Wilhelmina Delco, State District 50, had some interesting observations about her neighborhood now being filled with dogs and people on bikes, rather than children, indicates the millenial trend towards urbanization. Young adults want to work, play and live in the same neighborhood, driving demand on any dirt near downtown.
Natalie Cofield, President & CEO, Greater Austin Black Chamber of Commerce, also said she has dealt with the same trends in DC, LA, NYC, pointing out that Austin's not alone in rising property values in what were once predominantly minority neighborhoods.
Mike, i watched it too and thought it was interesting. I do bristle when i hear people who still think they deserve treatment and advantages based on their race. Also, so many buzzwords used...the one guy keeps talking about "progressive" policies. He doesn't define what this means but I think i know what he means by that; guess he only wants to acknowledge that his "progressive" policies are the only mindset we can have in austin. I did agree with him that votes matter though. It would have been nice if they would have included a white conservative in the discussion because there are a lot of them around...Travis county voted 38% republican in the last election. I guess they don't want that kind of diversity of opinion.
@Account Closed I agree that the panel probably could have included representation from the young, white urban professional in the mix, or any other residents that Former Rep Delco mentions as her new neighbors. As far as conservatives in the metro, no doubt many live in less core urban neighborhoods, further removed from the downtown scene (white collar, family-oriented suburbia, like Round Rock, perhaps ?).
I thought Mayor Lee Leffingwell probably represented the mindset of whites who live close to town, since he was raised in Austin and is a democrat. I'm not familiar with his political stance, since older, southern democrats were typically more moderate from his generation (born 1939). The majority of the panel seemed to best represent old Austin, its history and demographic make-up, many of minority ethnicity.
As investors, I believe we have to be mindful of both the past and future, when it comes to neighborhoods. Since properties and their owners have an economic stake as residents, some with long-term histories (even generational), while newcomers may envision a different community (eg. DINKs). Both impact the perceived value of where they live.
Working professionals who don't have families to raise have more disposable income. They're driving the demand and qualifying for mortgages or have lots of cash to revitalize old, urban neighborhoods. They contend with old rules that are in place, while putting new rules (like zoning or HOAs) in place. I figure if I don't live there I don't get a say. If I'm flipping a property, I better understand both sets of rules.
I think redistricting the city into 10 voting districts is one of the best things the local politicians (thru ICRC) have done for Austin's future. We may be hearing from those under-represented republicans, down at city hall, in the near future!
Yes i can't wait for redistricting. My area (sw austin) will finally have someone to represent us in city council.
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