• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TOWERS

Austin city life since 2007.

  • News
    • Condo Projects
    • Neighborhoods
  • Listings
    • Austin Condo Guide
  • Newsletter
Search
You are here: Home / Development Watch / Another Condo Project in Trouble
Search suggestions: condos for sale • rainey street

Another Condo Project in Trouble

towers staff February 28, 2008 Comment

Last April, developers announced a 4-story, 27 unit development on Barton Springs just east of Lamar adjacent to the train tracks, McDonalds, and Peter Pan Mini Golf. With pricing starting at $1,000,000, are original reaction was that “the project is a very odd combination of location and pricing that suggests a lack of experience in residential development.” At the high end, the units were priced at $900 / SF making this the most expensive development in Austin.

1155 Barton Springs South Austin Condo Project

1155 Barton Springs South Austin Condo Project

Today we learned that ground-breaking for 1155 Barton Springs has in fact been delayed. With tough times in the credit markets, it is getting tougher to sell even the best conceived projects, While strong projects are finding success South of the river, they are succeeding by combining prime locations with prices far below those of the large downtown high-rises. 1155 Barton Springs attempted to combine ultra-luxury with a low-rise “B” grade location — a tough sell in this market. While the views are great, top dollar projects need to be perfect, which is not the case with 1155 Barton Springs. While the project is delayed and not canceled, it is clear that the developers have a tough road ahead.

Here are additional details from the Statesman:

Groundbreaking has been delayed for the condo project called 1155 Barton Springs, which is destined to replace the long-vacant Treehouse restaurant and nightclub at Dawson and Barton Springs Road.Developers Elisabeth and Steffen Waltz and their partners had hoped to start construction on the project by the end of 2007. But yesterday, Elisabeth Waltz wrote in an email:“These times seem to call for a measured approach. It may take us a few more months to start construction; we will start when we have 50% or more of the residences sold. (Personally, having been a real estate broker for many years, I would prefer all of them pre-sold).”In addition, she said all floor plans are “custom-designed to reflect the buyers’ input and lifestyle. The reservations currently in place are the result of close cooperation between buyers, our office and the architects. This takes a bit longer that selecting a pre-designed unit but seems to really please the owners.”And having happy owners is especially important when they’ll be shelling out anywhere from $1 million to $4.3 million for the 27 units, which will range in size from 1,670 square feet to 4,500 square feet.And although it’s located next to a railroad track, the Waltzes have said the building’s concrete and sound-proofing insulation will minimize noise from the railroad. Waltz said in her email that, although she originally wanted the Treehouse building demolished as soon as possible, it actually has “proven useful.”” It gives me the opportunity to show the view from the first floor and also listen to the trains go by. Everyone is amazed on how little impact the train will have, if any. It moves very, very slowly in anticipation of the upcoming 90-degree turn across the lake.”

Related

Filed Under: Development Watch

About towers staff

Real estate, architecture, and city planning. Email: austin@towers.net

300 Bowie Street #703
Austin, TX
Photo of 300  Bowie Street #703, Austin, TX 78703 (MLS # 1326444)
$699,980
31
  • Lot Size
    101 sqft

  • Home Size
    983 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
Previous Post: « New: Austonian Listings Added to AustinTowers.net
Next Post: BartonPlace Approved by City, To Begin Construction »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  •  Schedule a showing

FEATURED Listings

44 East Avenue #2205
Austin, TX
Photo of 44  East Avenue #2205, Austin, TX 78701 (MLS # 8345255)
$1,475,000
29
  • Lot Size

  • Home Size
    1,232 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

555 E 5th Street #725
Austin, TX
Photo of 555 E 5th Street #725, Austin, TX 78701 (MLS # 9482800)
$545,000
20
  • Lot Size
    88 sqft

  • Home Size
    817 sqft

  • Beds
    1 Bed

  • Baths
    1 Bath

View Virtual Tour
48 East Avenue #2210
Austin, TX
Photo of 48  East Avenue #2210, Austin, TX 78701 (MLS # 5004162)
$1,569,500
38
  • Lot Size
    17,904 sqft

  • Home Size
    1,277 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

300 Bowie Street #703
Austin, TX
Photo of 300  Bowie Street #703, Austin, TX 78703 (MLS # 1326444)
$699,980
31
  • Lot Size
    101 sqft

  • Home Size
    983 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
619 Tillery Street #B
Austin, TX
Photo of 619  Tillery Street #B, Austin, TX 78702 (MLS # 4009706)
$839,619
30
  • Lot Size
    3,050 sqft

  • Home Size
    1,796 sqft

  • Beds
    3 Beds

  • Baths
    3 Baths

austin condo report

Featured Buildings

  • 360 Condos
  • Austin City Lofts
  • The Independent
  • The Shore Condos
  • 70 Rainey

Footer

LEGAL NOTICE

TREC Information About Brokerage Services (pdf)

Texas Real Estate Commission Consumer Protection Notice


TOWERS realty

Austin Condos For Sale

Agents

Downtown Buildings

Luxury Towers

  • Four Seasons Residences
  • W Hotel & Residences
  • The Austonian
  • 5 Fifty Five at Hilton

Most Popular

  • The Shore
  • 360 Condos
  • Seaholm Condos
  • Spring Condos
  • Milago Condos

New Construction

  • The Independent
  • 70 Rainey
  • Austin Proper
  • Fifth & West

Loft Style

  • Austin City Lofts
  • Brazos Place
  • The Sabine
  • Plaza Lofts
  • Avenue Lofts
  • Brazos Lofts
  • Brown Building

Resources

  • Austin Condo Guide
  • Condos For Sale
  • Condo Buyer FAQ
  • Property Search

Featured

Archives

Newsletter · About · Contact Us · DMCA · Privacy Policy · SLAPP · Copyright © 2007-2022 TOWERS.net · All Rights Reserved
 

Loading Comments...