I chatted up the fellow that managed the latest resusification of this very beautiful Raymond Loewy design. The fellow said that it had a 1962 (3?) 289ci Studebaker V8, in the R2 stage of tune. I love this car. Also, now has disk brakes.
Here is Raymond Loewy's website: http://www.raymondloewy.com/

Discovered in Allendale. Pretty sure it's an Avanti. Had a girlfriend who promised me a full lack of inhibition if I could procure an Avanti. Too late, now.Posted by ken

Three treasures in one South Austin yard. I have seen the 1954 Shorty for many years on the streets as a daily driver. The owner said that he cut the middle out of it, and put in a Buick V6 and disc brakes at front, a new rear end, and used it to tow other cars. Also, there is a 1960 Lark, and a 1960 Hawk with a Packard V8. The owner's gal has a 1940 Studebaker that they are fixing up. Maybe we will get a look at it soon! Thanks to them for letting us have these pics.

Proud V-8 on South Lamar.

Found at Dell @ Parmer near I-35 in north Austin. Sorry about the quality, that's the best my phone does.

Pretty good condition, tires all holding air, found in central north austin. Perhaps a Champion.