Arts & Culture

Austin, being a known leader in forward thinking, is an ideal location for Bird to launch their new, modern mobility solution. This modernized approach of dockless and electric vehicle sharing offers communities an easy, eco-friendly way to get around issues of time constraints and traffic congestion. Talk about an innovative form of transportation!

Users of this ride-sharing service are charged $1 to start the scooter and 15 cents per minute that its used, must be over 18 and must consent to a safety agreement. Bird Rides uses their app to unlock the rental scooters and to provide their users with step-by-step instructions, as well as parking and safety reminders.

Bird Rides, striving to work closely with cities, has a mission to make transportation better, more accessible and more environmentally friendly. The dockless scooter and bike company has already partnered with cities throughout California, as well as with Washington D.C..

Since the Austin launch, controversy has hit the city and Austin officials have already impounded over 50 Bird scooters that were left in violation of city code. The City Council originally planned a pilot program for dockless bike and scooters to begin this summer. However – with Bird Rides and LimeBike launching their ride share services earlier than expected – the city has been thrown into a state of playing catch-up, as they continue to determine if any special laws and regulations apply to the companies.

The current situation of vehicle sharing deems to be similar to the Uber and Lyft controversy experienced in 2016. The city is merely aiming to take precautions in regard to the scooter’ safety concerns and the issue of unused scooters being left in highly-trafficked areas, such as side walks.

In response, Bird has promptly directed its users to comply with each city’s specific parking instructions for the vehicles, and is proactively planning efforts to relieve any other issues that may arise with their services. The company has a stern policy regarding those who violate Bird’s terms of service attain the consequence of being removed from the platform.

If you wish to support this innovative and eco-friendly transportation solution staying in the City of Austin, please click here to sign the petition!

The project that has been germinating over the past few years will rezone a 97-acre site in Southeast Austin, adjacent to Oracle’s new campus. The site plans are composed of over 5 million square feet of space for thousands of apartments, hundreds of hotel rooms, dozens of shops and restaurants, and plenty of offices.

Due to the rezoning process of the project site not being scheduled for completion until sometime this year or within the next year, construction is not envisioned to begin before 2020. However, once approved by the Austin City Council, the development plans to be built in five phases over a 25-year period.

Nimes Capital, a Los Angeles-based investment firm, is the developer proposing the mixed-used development that will continue to transform Southeast Austin. Their initial goal surrounding the project is to build an “urban village.”

Given the current circumstances of congestion that are overwhelming the downtown districts, East Riverside Drive is the most logical and ideal location to expand into. Preliminary renderings of Project Catalyst show buildings, reaching 16 stories, that would be the tallest to occupy this portion of Southeast Austin. This “urban village” ultimately envisions to be a “third downtown“ – North Austin’s Domain and Domain Northside duo have already claimed the name of Austin’s “second downtown.”

Currently, the site consists of The Ballpark East apartment complex, comprising of 1,308 units for college students and working-class residents. Throughout the course of a few years, Nimes Capital has bought the apartment complex along with its adjacent land.

If the mixed-use development project proceeds as intended, it will neighbor Oracle’s new 40-acre corporate campus and an exponentially growing amount of nearby apartment complexes, retail establishments and office spaces.

Downtown Austin’s booming market is sure to continue to flourish in East Riverside, especially with Project Catalyst’s proposed plans for expansion.

Austin’s current population sits at the 31st largest in the U.S. and is predicted to surpass San Antonio’s by the late 2020’s. The city has been experiencing an average net increase of 150 people per day who are needing places to live. This surplus of people is resulting in the city’s housing housing not meeting its demand and prices being driven higher and higher.

Despite home prices increasing by 5.4% in 2017, the Austin real estate market hit an all-time high in home sales that reached a double-digit increase in March 2018. This much growth being endured early on in the year indicates a strong summer selling season ahead.

Historically, it has been common for homes to remain on the market for 50 days or more – even in housing markets experiencing a high demand. However, within Austin and its local areas, homes have been spending a fraction of that time on the market. The city’s limited housing inventory has ultimately created a competitive market when it comes to purchasing a home in or around Austin.

At Austin’s current growth rate, the population is projected to continue outpacing infrastructure. This deficit will generate a higher demand for more schools, retail and office spaces, transportation accommodations and other utilities to be developed. Fortunately, with job growth increasing at a slower pace, the city will be allocated time to focus on solving these overgrowth challenges.

While home prices continue to rise, they are rising at a slower pace which indicates a stable market trend.

If you’re considering a move, now is the time to enter the market and take advantage of the low mortgage rates and appreciation. Click here to meet the Urbanspace residential team.