Austin Texas' Domain
[AUSTIN, TX]
By Faith McGee
Will North Austin's "Domain" Start to Look More Like Austin Or Will Austin Start to Look Like the "Domain"?
Austin locals no longer have to drive hours to Houston or Dallas to shop at high-end boutiques and fashion malls. Domain Drive located in North Austin has sprouted the kind of shopping that goes against the "Austin local business is better" vibe. The "Domain" not only includes swanky retail plazas, but residential developments meant to woo the new money flowing into Austin. However, much to the chagrin of some Austinites this could only mark the beginning of a new Austin rather than a contained oasis for "yuppie" consumers.
The architecture and design of the Domain could fool anyone into thinking they had just stepped into some European town. Four-story apartments loom over the carefully landscaped and manicured streets below. An amazing people watching experience for those lucky enough to purchase one of these homes. The story behind the "Domain" is simple enough, in 1999 Blackstone Group and JER Partners bought the 304-acre IBM campus. One can thank the downfall of the dot-com industry for not only the birth of the project, but also for its name. When the dot-com phenomena hit the skids IBM quickly sold this parcel of land, and hoped it could make back some of their money.
Urban planners soon concocted a way to use the space for both commercial and residential spaces by creating a "vertical mixed" plan. In other words, stores would be built underneath apartments and condos. This idea bypassed Austin's usual laid-back demographic and appealed to A-list homeowners and proprietors of the retail stores. Thus creating what would be called the "Downtown North". The city jumped on the bandwagon with the prospect of two words, sales tax, dancing as dollar signs in their eyes. The city of Austin was dismayed with affluent locals supporting malls and shopping centers in towns such as Round Rock and San Marcos. Austin may be a down to earth town, but there are still many fashionable events for people to attend. Previously. Austin's wealthy have been a less sought after market and kept as Austin's little secret community of old wealth and new transplants. But Austin isn't only a college town or a town made-up with ex-hippies and music semesters.
The sales tag to the project was unpopular to Austinites who would have to pay the upfront cost in sales-and property-tax receipts. This has become quite a controversy among the locals who would rather see mom and pop stores benefiting from their tax dollars. However, this allowed the city to offer incentives to the big name stores, which who would later move in. Though the deal is obviously been a huge benefit to established stores and restaurants, other start-up business who want to serve to this clientele have found that opening among their expensive retail neighbors gives them access to this market.
The boom has shifted the attention from downtown's expansion to the North Austin. Many appreciate avoiding the traffic time it takes to drive downtown, and love the fact this will become a one-stop for shopping, dining, exercise, entertainment, and living. What better way to save gas and time than to live above every place you would want to frequent? The question still remains will "North Downtown" ever adopt the low-key atmosphere of the rest of Austin or will Austin adopt the style of the Domain? This question is years from being answered and the "Domain" has not technically completely open. The first part of this master plan is part of four more large developed areas that will expand this concept. More residential homes will be developed over shopping centers and the area will become even more pedestrian friendly. The second part of the "Domain" brakes ground this month, and only time and economy will tell how this fairytale for urbanites will end.
Austin Condos
By Faith McGee
Will North Austin's "Domain" Start to Look More Like Austin Or Will Austin Start to Look Like the "Domain"?
Austin locals no longer have to drive hours to Houston or Dallas to shop at high-end boutiques and fashion malls. Domain Drive located in North Austin has sprouted the kind of shopping that goes against the "Austin local business is better" vibe. The "Domain" not only includes swanky retail plazas, but residential developments meant to woo the new money flowing into Austin. However, much to the chagrin of some Austinites this could only mark the beginning of a new Austin rather than a contained oasis for "yuppie" consumers.
The architecture and design of the Domain could fool anyone into thinking they had just stepped into some European town. Four-story apartments loom over the carefully landscaped and manicured streets below. An amazing people watching experience for those lucky enough to purchase one of these homes. The story behind the "Domain" is simple enough, in 1999 Blackstone Group and JER Partners bought the 304-acre IBM campus. One can thank the downfall of the dot-com industry for not only the birth of the project, but also for its name. When the dot-com phenomena hit the skids IBM quickly sold this parcel of land, and hoped it could make back some of their money.
Urban planners soon concocted a way to use the space for both commercial and residential spaces by creating a "vertical mixed" plan. In other words, stores would be built underneath apartments and condos. This idea bypassed Austin's usual laid-back demographic and appealed to A-list homeowners and proprietors of the retail stores. Thus creating what would be called the "Downtown North". The city jumped on the bandwagon with the prospect of two words, sales tax, dancing as dollar signs in their eyes. The city of Austin was dismayed with affluent locals supporting malls and shopping centers in towns such as Round Rock and San Marcos. Austin may be a down to earth town, but there are still many fashionable events for people to attend. Previously. Austin's wealthy have been a less sought after market and kept as Austin's little secret community of old wealth and new transplants. But Austin isn't only a college town or a town made-up with ex-hippies and music semesters.
The sales tag to the project was unpopular to Austinites who would have to pay the upfront cost in sales-and property-tax receipts. This has become quite a controversy among the locals who would rather see mom and pop stores benefiting from their tax dollars. However, this allowed the city to offer incentives to the big name stores, which who would later move in. Though the deal is obviously been a huge benefit to established stores and restaurants, other start-up business who want to serve to this clientele have found that opening among their expensive retail neighbors gives them access to this market.
The boom has shifted the attention from downtown's expansion to the North Austin. Many appreciate avoiding the traffic time it takes to drive downtown, and love the fact this will become a one-stop for shopping, dining, exercise, entertainment, and living. What better way to save gas and time than to live above every place you would want to frequent? The question still remains will "North Downtown" ever adopt the low-key atmosphere of the rest of Austin or will Austin adopt the style of the Domain? This question is years from being answered and the "Domain" has not technically completely open. The first part of this master plan is part of four more large developed areas that will expand this concept. More residential homes will be developed over shopping centers and the area will become even more pedestrian friendly. The second part of the "Domain" brakes ground this month, and only time and economy will tell how this fairytale for urbanites will end.
Austin Condos
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