By Mary Tuma Wednesday, 02 December 2009

AUSTIN — Despite the recession’s effect on the housing market, individuals are still finding the means to move into luxury condos downtown. Many formerly reluctant buyers took advantage of discounts on new units, while others remain cautious about committing to contracts that often favor the sellers.

As downtown continues to grow, developers eye another valuable area nearby, the 350-acre Brackenridge Tract, owned by the University of Texas. Its fate lies in three proposals awaiting a decision from UT regents.

Meanwhile, another issue affecting the city’s future will be determined before the end of the year. Barely passing a federal air quality test this summer, Austin could face stricter ozone standards in the coming years.

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