Commercial real-estate agents, at least those hawking office space in existing properties, can’t be excited to hear the news that the Signature Tower is rightsizing by eliminating half of its condos in favor of other tenants:

Developer Tony Giarratana plans to eliminate more than half of the condos in his proposed 70-story skyscraper, Signature Tower, in a bid to find financing for the project amid a weak real estate market. Giarratana said in an interview that he has decided to cut out 25 floors of condos and will replace them with another business — possibly offices or more hotel rooms — to keep the tower at its proposed height of more than 1,000 feet.

Given that there’s already an excess of vacant office space downtown, the addition of even more — and in a glamorous new building, no less — doesn’t bode well for anyone looking to fill current space. If the tower is built, will it come at the expense of other properties in town? Maybe not, since the economy may well have improved by the time tenants move into the tower (2011 at the earliest), but we’ll see.

I’m pleased to learn that Vanderbilt University is announcing plans today for renovations and upgrades to Dudley Field, Memorial Gym and Hawkins Field. Improvements to Dudley Field, in particular, are long overdue. The rendering published in today’s Tennessean (above) showcases some appealing aesthetic changes to the stadium facade, but I think what’s needed most is a change in stadium seating. I’d love to see the university exchange 3,000 to 5,000 seats of capacity in the current minimalist metal bleachers for folding plastic chairs common at more modern sporting venues. Short of razing the stadium to the ground and exorcising its many gridiron demons before starting over from scratch, this would be a welcome upgrade for Commodore football fans.

Three locals, self-described as “one blacksmith, one woodworker and one potter” are headed to Austin, Texas, tomorrow for the annual Burning Flipside alternative arts and performance festival for a week of counterculture entertainment and excitement. (Flipside is a regional event associated with the better-known Burning Man festival in Nevada.) They have an extra ticket and room for two more people in their car. Email Serra at svbfels[at]gmail.com if you’re interested.

Regional Burning Man events are held across the country and around the world but, alas, not in Tennessee. If you can’t manage a trip to Austin this weekend, there are events held annually in Georgia, Kentucky, North Carolina and Missouri, too.