East Riverside Corridor redevelopment (Austin: to rent, neighborhood, buying)

[Makana]

I'll be moving to Austin later this year, and have been reading about the master plan and regulatory plan process for the East Riverside Corridor. On paper, it all sounds great, and would make the area a fine place to live.

But as with all such projects, one catch is how long will redevelopment take? It varies from place to place, I know--here in Hawai‘i, it can take decades if it happens at all.

So in Austin, what might be a realistic time frame to see the plans go from paper to actual bricks-and-mortar? Any past precedent? Any idea?

Thanks for any guidance and guesses.

[centralaustinite]

Fully built-out? 15-20 years. There are some projects done, some under construction, some in the planning stages. It is not just a mirage . . . but there are a lot of moving pieces. If you just want to rent . . . there are new places on E. Riverside right now. Buying would be riskier but not crazy.

Plus EROC is just a plan, there is a neighborhood plan, a city staff plan, and then what the developers want to do. The area is already heavily multi-family with limited parkland. Protecting public space is an ongoing issue.

[Austin97]

Originally Posted by centralaustinite

Fully built-out? 15-20 years. There are some projects done, some under construction, some in the planning stages. It is not just a mirage . . . but there are a lot of moving pieces. If you just want to rent . . . there are new places on E. Riverside right now. Buying would be riskier but not crazy.

Plus EROC is just a plan, there is a neighborhood plan, a city staff plan, and then what the developers want to do. The area is already heavily multi-family with limited parkland. Protecting public space is an ongoing issue.

I would go across the river to the holly street neighborhood. A month ago there was a waterfront property for about 150K. Doubt a deal like that will come up again, but a block from the hike and bike trail (as it gets extended) will be a no brainer for increasing property values.

[JohninAustin]

Originally Posted by Makana

I'll be moving to Austin later this year, and have been reading about the master plan and regulatory plan process for the East Riverside Corridor. On paper, it all sounds great, and would make the area a fine place to live.

But as with all such projects, one catch is how long will redevelopment take? It varies from place to place, I know--here in Hawai‘i, it can take decades if it happens at all.

So in Austin, what might be a realistic time frame to see the plans go from paper to actual bricks-and-mortar? Any past precedent? Any idea?

Thanks for any guidance and guesses.

Soon. I would say Riverside will change dramatically over the next five years. We are talking about a lot of innercity acreage. There are going to be thousands of new people moving in there over the next few years. I would wait a year or two because it's already a giant construction zone.

[JohnHenrySDM]

Originally Posted by Austin97

I would go across the river to the holly street neighborhood. A month ago there was a waterfront property for about 150K. Doubt a deal like that will come up again, but a block from the hike and bike trail (as it gets extended) will be a no brainer for increasing property values.

Based on that price, it can't have been much more than a tear-down.

Unless maybe it was next to the old power plant.