I attended a luncheon last week where Councilman Brewster McCracken and CapMetro employees presented an update on their long-term transit plan. I must admit that it looks great. I'm excited that the city is thinking about how Austin will grow over the next 20 years and are taking action.
Many local residents are unaware that:
1) The MetroRail is on the way. This is a commuter rail line that will use existing railroad tracks to get residents around the city. The rail is already funded and the city has purchased sites. They are in the design concept stage for some lines while finalizing locations for others.
2) The impact of the rail on surrounding areas should be significant. I saw the All Systems Go plan a few years ago, so purchased properties in close (but not too close) proximity to these mass transit stations. Capmetro said that they plan to have "everything you need" next to their mass transit stations as part of making our lives easier in Austin. They want to have coffee shops, day cares, dry cleaners, grocery stores...everything you need to get through your day, near these stations so you do not have to use a car. One of the leaders of the AllSystemsGo plan said their goal is to have families down to using just one car with Capmetro systems used for most transportation needs.
The MetroRail looked pretty cool. The concept that they showed us was a bullet shape. It was a cross between a train and a monorail. They wanted the inside to look inviting. All of the rails are expected to have tray tables and wireless Internet.
The Chronicle recently reported about the streetcar concepts. I'm not too excited about them, but apparently, this is what residents want. I'm not against streetcars, but they're not very new. The city is still finalizing routes but most are pretty similar.
Investors, buyers, and sellers should pay attention to where the upcoming mass transit stations will be. This can be a great selling point and will definitely affect the value of the home, especially since the city is purchasing many acres around the station for future development. The only station that was not listed was the potential one at Slaughter and IH35. From what I remember, the city was still investigating that site.
I'll keep you updated as I get more details.
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