Oracle to build massive campus in SE Austin (Combine, Riverside: fit in, bankrupt)

[df175]

Originally Posted by centralaustinite

Silverado absolutely should be torn down! For decades it was an apartment complex and it was a very poor decision to go condo. Austin-Steve spoke about this a few posts ago. With multiple owners it will be harder to demolish but it is the right thing to do.

KUT addressed this very issue today!
With Oracle's Expansion, Some Renters Lose, Others May Gain | KUT

Do you have the right place in mind? That place has been a condo since the beginning- 1984-ish- although mostly rented to students back in the day. Most of the apartment buildings around it are a good 15+ years older and are in worse shape from what I can see. I think Tollgate was a condo conversion from an apartment complex, but I could be wrong.

I'm checking out Montopolis myself more.

[verybadgnome]

Originally Posted by austin-steve

Yes, and starter jobs normally go to younger people.

With regard to investing in condos in that area, some of them are the most decrepit, rundown properties in Austin. Most with bad foundations and serious structural issues. Many were apartments at first, later converted to condos. Had they remained apartments, they could be sold and torn down like the Lake Shore property. But now they are doomed to difficulty.

The area SE of downtown is definitely turning though. I just sold a home for $300K+ near Oltorf/Burleson that failed to sell for $132K in 2007/08. We did a rehab, so some of the value increase came from that, but still. I can't believe the prices in 78741 now. And ALL of those homes are on some of the worst clay soil in Austin, so be careful.

Steve

You are right. Just looking in Montopolis and it is hard to find anything under 200k.

[austin-steve]

Originally Posted by verybadgnome

You are right. Just looking in Montopolis and it is hard to find anything under 200k.

Yep. I was just trying to buy a small house or condo for my daughter and looking in that area since she works off E 5th near Pedernales. The East Riverside area would be perfect and "affordable", though it no longer is. Saw some of those very decrepit condos I mentioned earlier, and some places in Montolopis and also across Airport Blvd on the other side north of the river. Even showed her a duplex I own near Riverside. Finally cried uncle and she rented off Spyglass.

It's tough all around. It's turning me from pure Libertarian to maybe at least a drop of Democratic Socialist. I'm starting to feel sorry for people who barely get by, which now includes a lot of people well above the "poverty" line who still can't make it. I'm not "feeling the Bern", but house hunting outings like this do provide a temporary light singe.

Those Oracle employees will probably make enough money to drive up demand for the Class A apartments though, so even more will be built.

[sojourner77]

Originally Posted by austin-steve

Yep. I was just trying to buy a small house or condo for my daughter and looking in that area since she works off E 5th near Pedernales. The East Riverside area would be perfect and "affordable", though it no longer is. Saw some of those very decrepit condos I mentioned earlier, and some places in Montolopis and also across Airport Blvd on the other side north of the river. Even showed her a duplex I own near Riverside. Finally cried uncle and she rented off Spyglass.

It's tough all around. It's turning me from pure Libertarian to maybe at least a drop of Democratic Socialist. I'm starting to feel sorry for people who barely get by, which now includes a lot of people well above the "poverty" line who still can't make it. I'm not "feeling the Bern", but house hunting outings like this do provide a temporary light singe.

Those Oracle employees will probably make enough money to drive up demand for the Class A apartments though, so even more will be built.

Very ironic chain of thought, Steve. If the local government was more "Republican", then they wouldn't try to socially engineer the RE market, and they would lift the government red-tape, and allow us to expand the housing stock, and lower prices.

[austin-steve]

Originally Posted by sojourner77

Very ironic chain of thought, Steve. If the local government was more "Republican", then they wouldn't try to socially engineer the RE market, and they would lift the government red-tape, and allow us to expand the housing stock, and lower prices.

I don't disagree. I was speaking more to my empathy. I'm not in favor of government trying to engineer a solution. Perhaps 30 years through zoning and permitting. That cow left the barn, grew old and died. So Austin is just expensive now and always will be, no matter what. Only solution is to make more money.

Steve

[Westerner92]

Originally Posted by sojourner77

Very ironic chain of thought, Steve. If the local government was more "Republican", then they wouldn't try to socially engineer the RE market, and they would lift the government red-tape, and allow us to expand the housing stock, and lower prices.

Eh, I doubt it. Party politics break down at the local level because local politicians and local issues are more nuanced than overarching platforms. There's a reason city elections are non-partisan. Kathy Tovo and Gregorio Casar are complete opposites on this issue, yet they'd both likely consider themselves Democrats. I bet you can find many registered Republicans who are divided on the issue too.


On a semi-related note: To parents who don't want their kids to become Democratic Socialists, don't let them study abroad in any other developed country, or any country that's too undeveloped as well.

[verybadgnome]

Originally Posted by Westerner92

Eh, I doubt it. Party politics break down at the local level because local politicians and local issues are more nuanced than overarching platforms. There's a reason city elections are non-partisan. Kathy Tovo and Gregorio Casar are complete opposites on this issue, yet they'd both likely consider themselves Democrats. I bet you can find many registered Republicans who are divided on the issue too.


On a semi-related note: To parents who don't want their kids to become Democratic Socialists, don't let them study abroad in any other developed country, or any country that's too undeveloped as well.

I agree. A lot of the NIMBY and anti-density viewpoints I disagree wiht the most cut across the political spectrum, only differences are the motivations. Just a few years back it was Tovo vs. Riley and both were democrats.

[FueledByBlueBell]

Originally Posted by A-Tex

Also seems to teeter on the edge of federal age discrimination laws.

My husband is 40+ and will work there

[WildChicken]

I need a job at Oracle..are they hiring?

[eileenkeeney]

When I first heard of this project, my first thought was that the typical Oracle employee is not likely to want to live in an apartment, and may want to buy a house instead of renting an apartment.

I am one who places a greater value in living in walking distance from work and other amenities, than most.
I don't drive.
However, my co-workers tend to own their homes in what is a reasonable commute to work, but not walking distance. One reason is that I live in a decent rated school district, but not one of the most highly rated school districts.

It may be that Oracle is planning for a work force with high turn over (often cheaper), hiring a lot of people that are either College interns or on H1B (or other) visa programs.

When I first moved to Austin (moved here by my employer, who was given a huge tax break on their new data center in return for moving a bunch of its employees here), I rented an apartment in walking distance from the office.
It took me about 3 months before I was looking for a house to buy (also in walking distance from the office).

Even those fancy nice apartment buildings do not insulate well enough between individual apartments to block stereo base and other noise.
They insulate well to the outside.
They can put in fancy new appliances, and have attractive layouts and amenities.
But personally, I would rather have old appliances, fewer amenities, and less intrusion by other people's noise and a front porch or patio that is at least big enough for a porch swing.

The ideal place for a large corporate campus, in my opinion, would be in easy walking distance from a metro rail stop.

It will be interesting to see how successful these corporate apartments end up being.