Novare, the developer of 360 , has announced preliminary plans for two new towers to rise one block west of the downtown post office. The new plans call for construction of a 250 unit 28-story condo tower and an adjacent 16-story office tower on the 1.2 acre site bounded by Fifth, Sixth, San Antonio and Nueces…
Seaholm Development Update
More than 2 years ago, the city approved a master plan for the redevelopment of the Seaholm Power Plant site on Cesar Chavez near Lamar. The $117.2 million project, a partnership between the city and Southwest Strategies, is supposed to result in a 22-story hotel, 60 condo units, and 180,000 square feet of retail and…
Austonian, W, Four Seasons, & Spring Sales Estimates
Harold Hunt, a research economist with the Real Estate Center at Texas A&M University, published an interesting profile of the downtown Austin condo market in Tierra Grande. First, the report calculated that “about 1,500 condominiums have been delivered to the downtown market since 2001 . . .To date, nearly 98 percent of those units are sold…
The Four Seasons Residences to Focus on Service
Lorley Musiol, the new Director of Residences at the Four Seasons in Austin, captures an important intangible about downtown condo life when she states that “this is only a building. It’s going to take personality and a staff I’m hand-picking to make that building come to life.”One of the things that is hardest to quantify…
15-Story Downtown Office Tower Proposed
A 15-story office tower with ground floor retail is being proposed for the north east corner of West Cesar Chavez Street and Lamar Boulevard. The new project, to be located between the Gables apartment and Seaholm, would be the first new office project constructed in the downtown core since the Frost Bank tower was completed…
Condo Liquidity Analysis: Will You Be Able to Sell?
If you are thinking of buying a downtown condo unit that you will eventually sell, you need to think about liquidity. Unfortunately, rapid growth in the number of downtown units has also meant fierce competition among sellers in some projects. With so many sellers and ongoing competition from new units in projects like Spring, it…