A park in the sky. That’s how Ed Muth, Gensler principal-in-charge of the Sixth and Guadalupe project, describes the outdoor deck on level 14 of the building.
It’s a gathering space that’ll be lushly landscaped and filled with various plant types. It’ll also have spaces for sitting and a small amphitheater tech space. It’s poised to be an area for Meta employees to spend time and mingle once the tech giant moves in next spring.
As downtown grows with increased residential and office space, the tech industry’s influence in the area is clear with Google’s sailboat tower plus TikTok signing a lease on Colorado. How will Sixth and Guadalupe shape Austin’s skyline?
For starters, it's poised to be the tallest tower in Austin when it is completed in 2023, standing 66 floors high. The deal with Meta, Facebook's parent company, was inked on Dec. 31, 2021 and is downtown Austin's largest lease ever, spanning across 33 floors and 589,000 square feet. It'll cater to some of the 2,000 employees that have been working in Austin. The social media giant has also said it plans on adding 400 more employees.
Key to the project, Muth told Austonia, is making sure clients get everything that they expected out of it.
Soon-to-be residents, the first of which are expected to come in the summer of next year, will occupy space from level 34 up and can expect gaming lounges, theater space, a garden on level 53 plus some pools. The one on level 66 will be the highest pool deck in Austin, Muth said.
The flashy amenities are sure to catch the attention of people vying to move in, but other major design elements were brought on by the Capitol view corridor.
“It's set out there to make sure that we don't block the views of the Capitol,” Muth said. “It kind of set the rules for where we can build, where we could position the building, how we design, the shape of the building, and how we put the square footage together in that building.”
A building of this undertaking involved a team of about 20 people at Gensler, a global architecture, design and planning firm with a local Austin office. They’ve been working with commercial developer Lincoln Property Company and residential developer Kairoi plus about a dozen consultants, some of whom were in Austin and others in Dallas.
The downtown tower boom has been in the works for some time. Muth said they’ve built a lot of trust working with them for the past five years, with some of their work carried out remotely during COVID-19. In the early days of the pandemic, downtown areas across the country—Austin included—saw lowered activity and both residents and workers heading to suburbs and other areas of the city.
“It really rose to its form, as we see it today, during that time, and a lot of people weren't downtown,” Muth said. “So it probably surprised some folks when they came back downtown to say, ‘Wow, where'd that come from?’”
About two weeks ago, Muth made a visit to the site, noticing restaurants and retail that hadn’t been there previously. Sixth and Guadalupe itself will include retail on the ground floor, adding to downtown’s growth even on the sidewalk level.
“Just looking out from the level 14th floor deck, I think we counted five or six, maybe seven new construction sites that are within blocks of this project. The area's rapidly changing,” Muth said.
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So you want to buy a house?
To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.
Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.
Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.
So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.
Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.
Holland says that while the 30-year fixed rate mortgage is often mentioned in the media, the most popular loan that he's seeing now is a 7/1 adjustable rate mortgage, which has a fixed rate for 7 years and then adjusts every year based on market rates, with a limit on how much it can increase each year. The interest is amortized over a 30-year period. Adjustable Rate Mortgages (ARMs) offer lower rates than fixed rate loans.
Here are the numbers, which are examples. In practice, exact numbers vary with a buyer's credit rating and overall financial situation, and with the rate, which can move up or down at any time.
- $650,000 home purchase price
- 7/1 ARM at 5.875%
- 5% down payment, equals $32,500
- 95% financed, equals $617,500
- $4,990 payment, including principle and interest (P&I), insurance, and property tax
- Typically, a borrower's debt to income ratio needs to be at or below 45%. So for this mortgage, a borrower, or borrowers, would need income of roughly $11,100/month, or $133,200/year. That number could be higher, depending on the buyer's outstanding credit balances on things like credit cards and car loans.
Holland says he's had a lot of clients approved for loans who were house hunting but have put that on hold, hoping prices come down.
Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!
Fall promises to be a one-of-a-kind camping experience. From Sept. 16 to Nov. 24, weekends will be packed with fall-themed activities, including special Halloween weekends in October. Campers can enjoy activities like fall crafts, campground trick-or-treating, costume contests, site decorating, outdoor movie nights, and more!
Packages and Ways to Stay
Camp Fimfo Waco
Located just 5 miles from McLane Stadium, Camp Fimfo Waco is the perfect place to stay during home game weekends. Skip the stuffy hotel room and embrace the great outdoors before cheering on the Baylor Bears! Campers can purchase a Baylor Tailgating Package that includes a pre-game meal from Executive Chef Sean Kelley and transportation to and from the game! Chef Kelley will also be cooking up delicious, elevated tailgating meals near the stadium so make sure to check out The Plaid Plate food truck before the game.
Stay in style and comfort, no matter your camping preference! At Camp Fimfo Waco, there are multiple ways to stay. Red Carpet RV sites come with a concrete pad and patio, full hook-ups, cable hook-up, a charcoal grill, fire ring and fire pit. Back-in or pull-thru options are available, as well as coveted spots tucked along the Bosque River!
Don’t have an RV? Not a problem, Camp Fimfo Waco has cabins too! Book a Riverview Firewheel Cabin if you’re looking for an air-conditioned oasis for the whole family. Complete with a kitchen and private bathroom, this cabin can fit up to 10 people. Elevate your stay by adding on a golf cart or snag a private cabana by the pool for guaranteed shade. With wifi available throughout the park, you can stay connected during your stay!
Amenities and Activities
Camp Fimfo Waco
Camp Fimfo Waco features lots of amenities to fill your days with fun, whether you’re a kid or kid at heart. After challenging your friends to a game of pickleball, basketball, or mini golf, go for a dip in the resort-style, heated pool - open daily through October! Stay on the weekends through October to enjoy the interactive splash playground. With plenty of ways to burn off energy, like the jumping pillow or playground, you can be sure to end the day with a peaceful night around the campfire!
Right now, you can get the fourth night FREE when you book three nights with the promo code BONUS! Check out the Offers page for full details and more promo codes!