What's hot -- and what's gonna be — in

Austin neighborhoods

Real estate agents talk about the next up-and-coming

parts of town.

By Michele Chan Santos
SPECIAL TO THE AMERICAN-STATESMAN
Sunday, January 28, 2007

Area real estate agents know the neighborhoods that are on the front burner when it comes to desirability: Central Austin's Rosedale and Enfield, downtown Austin, and lakefront properties on Lake Austin and Lake Travis.

But what about those up-and-coming hot areas? The ones that are more affordable, increasingly popular and drawing more interest from local and out-of-state buyers? Area agents said these neighborhoods are heating up:

•South Austin, near South Congress Avenue and South Lamar Boulevard.

We talked to several agents who work all over Central Texas, and they all said the same thing. SoCo and SoLa — that's South Congress and South Lamar — and the neighborhoods near them are becoming more desirable every day.

Danny Waters is among the area builders capitalizing on this interest. Waters is a builder and developer, the owner of Waters Custom Homes. Last year, he sold four new condominiums in The Courtyard at Kinney, which is only a few blocks from South Lamar Boulevard. These condos were priced at about $450,000 and had marble showers, Brazilian cherry stairs and other luxurious touches.

The popularity of condos downtown drove the development of condos in South Austin, Waters said. When developers saw how much people wanted downtown condos, they knew there would be a market for people who wanted that lifestyle, who would be drawn by the 10-minute commute to downtown.

When he began looking for land to develop a few years ago, Waters said he noticed that the land prices in South Austin were 30 percent to 50 percent lower than lots in Tarrytown or Enfield, but had similarly short driving distances.

"Plus, it's the uniqueness of the neighborhood," Waters said. "SoCo is more hip-hop, more California-style, and a lot of the buyers are coming from the West Coast."

Dana Dean, a broker with AvenueOne Properties, said the Barton Hills, Barton Heights and Travis Heights neighborhoods "are very much the sought-after areas of South Austin." Barton Hills and Barton Heights are near Zilker Park, Barton Springs Road and South Lamar Boulevard. Travis Heights is east of South Congress Avenue.

Noa Levy, an agent with Urbanspace Realtors, said the Bouldin Creek area of South Austin "is also seeing a lot of activity, with newly renovated homes and some contemporary architecture."

The Bouldin Creek neighborhood is bounded by Town Lake and Oltorf Street, between South Congress Avenue and the railroad tracks near South Lamar Boulevard.

•Central Austin, near Guadalupe Street, Airport Boulevard and Highland Mall.

Jimmy Gomes is from Hawaii but has made Austin his new home. The investor and developer is the leader of a group of five men from Hawaii who have bought several properties and lots near St. John's Avenue between Guadalupe Street and North Lamar Boulevard.

The proximity to the proposed light rail station near Crestview and the quaint atmosphere of the neighborhood appealed to him and the other investors in his group, Gomes said.

He has built two new houses and has put them on the market. In a few years, Gomes envisions this neighborhood looking similar to the Triangle development, with new houses, lofts and shops. Gomes said that with support from the police and the neighborhood, the area could become more stable, with upscale apartments and retail stores.

Jim Schaffrath is a real estate agent for Keller Williams who is working with Gomes and his group. "Overall, we recognize that it's on the way up, and we're ready to play," Schaffrath said of the neighborhoods near Highland Mall and Airport Boulevard.

•Wilshire Woods and French Place.

These neighborhoods east of Interstate 35 "look and feel like the West Austin established neigborhoods with their Austin stone homes, frame bungalows, well-established yards and big oak trees," Dean said. A typical listing in French Place is 2313 Lafayette Ave., a house built in 1936 with two bedrooms, one bathroom and 1,652 square feet, for $298,000. The proximity to the University of Texas, downtown and restaurants such as Hoover's Cooking and Eastside Cafe add to the appeal.

•Far South Austin.

Because of its size, affordability and variety, the part of Austin west of Interstate 35 and south of U.S. 290 generally sees far more home sales in any given month than any other area that includes part of the city within its boundaries.

This area includes neighborhoods such as Cherry Creek, Tanglewood Forest, the city of Sunset Valley, Maple Run and Western Hills. Most houses range from those built in the 1970s to new construction.

When she meets someone who wants to live in Central Austin but can't afford neighborhoods such as Rosedale, Susan Griffith, a real estate agent with Amelia Bullock Realtors, has several recommended areas, including Highland Park, Travis Heights and Barton Hills. But Griffith also directs people to houses near the south Central Market store and Sunset Valley.

There are many restaurants and retail stores in this area, some of them more familiar from other parts of town. The Hyde Park Bar & Grill, whose original restaurant is on Duval Street, recently opened in a second location near Central Market and Regal Westgate 11 theater. Just across West Gate Boulevard is Madam Mam's Noodles & More, familiar to many Austinites from its location on the Drag.

Sunset Valley, which is its own city, has no city property tax because of its many retail outlets, such as Home Depot, Barnes & Noble, Pier 1 and Linens-N-Things.