No Parking Downtown Austin Apartment Building Foreclosure due to Insufficient Demand

According to Urbanize Austin:

“An apartment complex marketed to middle-income downtown workers, especially those interested in reducing or eliminating their personal vehicle use, has been repossessed. Capitol Quarters was returned to its lender due to a low occupancy rate that made it unsustainable, developer Weaver Buildings announced this week. The property at 1108 Nueces Street underwent a deed-in-lieu transfer to North Carolina's Churchill Real Estate Holdings.”

Wendell Cox is principal of Demographia, an international public policy firm located in the St. Louis metropolitan area. He is a founding senior fellow at the Urban Reform Institute, Houston, a Senior Fellow with the Frontier Centre for Public Policy in Winnipeg and a member of the Advisory Board of the Center for Demographics and Policy at Chapman University in Orange, California. He has served as a visiting professor at the Conservatoire National des Arts et Metiers in Paris. His principal interests are economics, poverty alleviation, demographics, urban policy and transport. He is co-author of the annual Demographia International Housing Affordability Survey and author of Demographia World Urban Areas.

Mayor Tom Bradley appointed him to three terms on the Los Angeles County Transportation Commission (1977-1985) and Speaker of the House Newt Gingrich appointed him to the Amtrak Reform Council, to complete the unexpired term of New Jersey Governor Christine Todd Whitman (1999-2002). He is author of War on the Dream: How Anti-Sprawl Policy Threatens the Quality of Life and Toward More Prosperous Cities: A Framing Essay on Urban Areas, Transport, Planning and the Dimensions of Sustainability.