The Statesman reported today on three condo conversion projects currently under way in downtown Austin. All three projects will transform commercial space into new condos. As thousands of residential units are being built in Austin for new residents who want to live and work in downtown. Compared to the boom in condo development, there is relatively little new downtown office space being developed downtown. These conversions will take additional office space offline. All in all, the city seems headed for a healthy commercial-residential mix.
One of the projects is “Sabine on Fifth” – an 80 unit 10-story building on, go figure, Sabine & 5th just west of I-35. Units will start at $190K for a 700 SF one bedroom apartment. the most expensive unit is in the mid 500’s for 1,461 SF. The second project is the Brazos Place Condominiums, which we’ve fully profiled. It’s units are already on the market. The Third project is Capital Tower which would include just 25 “Ultra Luxury” units atop an office building at 9th & San Jacinto. The project is still in the early planning phase.
Here is a picture of Sabine on Fifth: