I thought this new development was interesting. On the one hand, I generally bristle at anything that might generate urban sprawl. The last thing I want Austin to look like is Dallas or Houston. But on the other hand, this will probably eventually mean good things for my inside-the-loop property values, and they’re building green and with large green spaces in an area that was formerly a gravel mine, so that’s nice. I do think it’s funny, however, that they allow the phrases “15 minutes from downtown” and “8,000 houses” to exist in the same story, as if those two things could exist in the same universe. A large suburban area 15 miles from downtown will only be 15 minutes from downtown on Sundays after 10pm. No matter how green you make a community, sprawl equals traffic, and traffic decreases air quality and overall quality of life. Or maybe they’ll have a MetroRail line going out there. That’d be cool.
I’m just curious how the housing market in Austin is faring with this whole recession thing happening. Anyone have their ear to the ground on real estate? I’m especially interested to know how the condos are doing. This blog has some interesting info, and gives a slightly mixed / partially negative outlook on the market, but I’m needing a more distilled version.