Lamar Union Preview

An exclusive look at Austin’s newest foodie and shopping destination

The interest in mixed-use space continues to climb in The Capital City. According to a 2014 report from the Urban Land Institute, the highest rate of population growth in the U.S. is expected in Texas markets, with millennials trending toward living close to where they work and play.

One of the new developments catering to centralized options for where to eat, shop and play is the Lamar Union complex, most known for being home to the Alamo Drafthouse South Lamar and The Highball. A rooftop pool with panoramic views of downtown Austin, a health club and communal grilling areas are just some of the many features offered to residents.

Quickly becoming one of the most recognized multi-use spaces in the city, Lamar Union, designed by distinguished Austin architect Michael Hsu, contains 422 apartment units, 866,000 square feet of retail and plenty of parking. In addition to catching a flick at the iconic Drafthouse or embarrassing yourself during karaoke at Highball, there are new spots to check out, including two places to grub, one place to pamper and one to get active outdoors.

Just opened:

VOX Table
Officially opening its doors on April 29, VOX Table is a New American-style restaurant with innovative offerings from world-renowned Executive Chef Joe Anguiano and award-winning mixologist Travis Tober. Guests enjoy a modern interior while sampling delicious fresh-baked bread, pipettes, raw clams and oysters, crab, foie gras, poutine and much more. One of the standouts is the braised Akaushi oxtail, served with potato pillows, wildfire blue cheese and arugula. Sit at the bar and let Tober entertain and educate you on his latest handcrafted cocktail while you appreciate the newest addition to the Lamar Union complex.

Shake Shack
There’s been plenty of buzz surrounding the first Texas Shake Shack. The “roadside” burger stand’s lights have been teasing folks for the past couple of weeks, making Lamar Union residents and Austinites alike salivate. On May 5, Shake Shack began to serve all-natural, antibiotic-free Angus beef burgers, griddled flat-top dogs, fresh-made frozen custard and crispy crinkle cut fries. Unique to Austin are local brews, such as Hops & Grain, Independence and Real Ale; the Lockhart Link Burger, served with a jalapeño cheese sausage link from Kreuz Market; and the Uchi-koncrete of vanilla custard, miso hazelnut blondie and huckleberry jam.

Opening this month:

BOARDLife
The Colorado-based longboard lifestyle boutique will open to the public on May 8. Perfectly suited for the active culture of Austin, BOARDLife specializes in longboards and related accessories and supports the outdoor lifestyle with standup paddleboards, snowboards, cruiser bikes and apparel. Do you have a fear of riding a board? Good news! Taking fitness to a new and fun level, BOARDLife will offer free longboard classes throughout the month for those who have never tried the sport and want to learn to ride safely.

José Luis Salon and Boutique
Award-winning upscale boutique, José Luis Salon, will open May 17 in the Lamar Union complex. Recognized as one of the top salons in the nation, the new location José Buitron and Bill Pitts’ second location in Austin, offering a slightly different concept with new jewelry and beauty products. For those in need of a cut or color, from a trim to a total transformation, José Luis has you covered. The salon is a must-visit.

Coming soon:

CANTINE Italian Café & Bar
CANTINE Italian Café & Bar is the latest project from Lisa and Emmett Fox, owners of ASTI Trattoria and the recently closed FINO Restaurant Patio & Bar. Lisa Fox tells CultureMap that CANTINE will “reflect a mix of our two restaurants,” and that the menu will feature Italian fare, including dishes and flavors from the surrounding Mediterranean countries. Tapas and pizza and pasta made in-house are sure to be crowd favorites. CANTINE will serve brunch, lunch and dinner seven days a week in the space, which also includes a patio and full bar. With craft cocktails, local draft beers and a rotating wine list, the South Austin vibe of CANTINE is primed and ready for eager foodies.
Opening slated for spring 2015.

Caffé Medici
Caffé Medici will soon have a fourth location with quality batch brew coffee, espresso and friendly staff. Medici serves a strong roast from Temple, Ruby and Cuvee that you can grab-and-go or sit-and-sip.
Opening slated for spring 2015.

Optique
A locally owned optometry practice and boutique, this will be the second location for Optique, which offers a clean, modern and relaxing environment, knowledgeable doctors and staff, and more than 500 hand-selected frames.
Opening slated for fall 2015.

Finley’s Barber Shop
The new Finley’s Barber Shop will have the same classic, old-fashioned feel as the other five locations in Austin and Dallas-Fort Worth, offering straight razor shaves, cuts and styling. Locally owned and operated, Finley’s is an upscale yet casual full-service men’s barbershop that harkens back to the 1950s. You will leave feeling pampered and revitalized.
Opening slated for fall 2015.

Service Menswear
Continuing to carry many of the brands that have made the flagship store on South Congress successful, Service Menswear is unique in that it pre-washes all washable items for a ready-to-wear approach that gives customers an accurate idea of the fit and fabric. The shop will also introduce new brands with expanded space at the Lamar Union building.
Opening slated for late fall 2015.

Resolute Fitness
While there’s state-of-the-art equipment in the Lamar Union apartment Health Club, Resolute Fitness is available to residents and non-residents alike. The fitness center provides cycling and yoga classes and cycling/yoga combo classes.
Opening slated for late 2015.

Other retailers set to open in 2015 include a new concept from J. Black’s, deli and corner store RiverCity Market, and women’s clothing shop Kiki Nass.

Lamar Union rendering.

Lamar Union Facebook

Lamar Union rendering.

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real estate report

How Austin fits into Zillow's predicted housing market growth in 2025

Photo by Justin Wallace on Unsplash

Potential homebuyers in Austin may see improving mortgage rates and home prices in 2025, according to Zillow.

It looks like a few more people are about to turn their online home shopping daydreams into reality in 2025. Zillow, the famous real estate listings website, says in a press release that next year will likely bring "a gradual but bumpy decline in rates, impacting sales and price growth."

It attributes the forecast to "erratic and dramatic mortgage rate movements" throughout 2024, which will continue to affect the market. The website's housing market predictions report estimates that 2025 will see about 100,000 more sales than 2024, that home value growth will be "low and slow" at 2.2 percent, and that inventory and new listings will continue recovering from pandemic weakness.

On a local scale, Zillow's latest data shows Austin has already experienced a 3.4 percent drop in annual average home values from 2023 to 2024, which will continue fluctuating in 2025.

As of November, Zillow's home value index says the average home in the Austin metro is worth $443,995. That figure is greater than the Austin Board of Realtors' median home sales price in Austin-Round Rock-San Marcos, which came out to $435,000 last month, reflecting an estimated 2.4 percent increase for just the month of November year-over-year from 2023.

Pick the right season to buy
Potential buyers may see better opportunities for purchasing a home during the fall and winter, which is a typically slow season for home sales. Across 36 out of the 50 biggest U.S. metro areas, Zillow's heat market index showed a drop in competition from October to November.

"There's a strong sense of déjà vu on tap for 2025. We are once again expecting mortgage rates to get better gradually, and opportunities for buyers should follow, but be prepared for plenty of bumps on that path," said Zillow chief economist Skylar Olsen in the release. "Those shopping this winter have plenty of time to choose and a relatively strong position in negotiations."

Zillow suggests buyers may have the ability to negotiate "from a position of safety" during the slow winter months. This is especially true for Austin-area buyers, who only saw 10.4 percent of homes sell for more than their listing price in October. The website says buyers can take advantage of opportunities to buy contingent on inspections or repairs, and they may avoid bidding wars during this time.

"While the number of options available to shoppers today are lower than they will likely see in the spring, there's also less competition in the field," the report says. "The [national] share of homes that sold for more than list price was below 28 percent in October (the latest data available), continuing a downward trend that began in July."

Buyers will head to the Southwest
Eyes are also turning to the American Southwest as the top region for homebuyers in 2025, as 13 major metro areas – including Austin and San Antonio – are now considered “buyer’s markets” where buyers have more negotiating power than sellers.

However, this prediction depends on the gravity of falling mortgage rates. Homebuyers should also keep a close eye on mortgage rates in 2025, which could drop unpredictably like they have been for the last three weeks in a row. If the rates dip further than expected, that doesn’t bode as well for buyers.

“It is anticipated that a significant mortgage rate dip would bring more buyers than sellers back to the market, increasing competition and tilting negotiating power in favor of sellers,” Zillow says.

Small-home living is gaining traction
As Austin and other major cities are battling for more high density housing, buying trends are also leaning towards smaller (and more affordable) homes.

Zillow even goes as far to say that the “pandemic-era need” for large houses is officially a thing of the past.

"The term 'cozy' is appearing in more listing descriptions — 35 percent more in 2024 compared to 2023 — reflecting current design trends that have shifted away from cavernous open floor plans, toward contained spaces that have their own style and purpose," the report says.

housing market zillow