A micro-loft condo development at Fourth & Chicon is in the works, and expected to be completed in Fall 2016. The project teases to be an affordable option to more expensive downtown area dwellings.
Situated on 2.1 acres east of the Plaza Saltillo development and MetroRail station, the Fourth& project is expected to include about 130,000 square feet of live/work condominium units, and street level commercial space. When completed, the project will be among the largest single mixed-use developments in East Austin, with 97 condo units and another 42,000 square feet of commercial space.
This looks to be a quality project, and the developer — Capsa Ventures — seems to be working hard to carve out a niche for creating sustainable urban projects. Previous projects include Pease Place on Enfield Road and 904 West, at 9th & West Avenue.
So far, Fourth& is the only building in East Austin to offer micro-loft condominiums. Traditional “micro-unit” housing is about 300-400 square feet (about the size of a 1-car garage), and Fourth& is pushing the limits of the label, with units starting at 512 square feet. The project will also have larger sized units, reaching 1,400 square feet.
The building’s design and PR team is emphasizing the building’s micro-lofts, green architecture and efficient building… practicality over “needless sprawl.” The walkable location is near commuter rails and the Lance Armstrong Bikeway, so it will be easy to explore nearby or to move about the city.
Prices are expected to start at $235,000 for a studio, all the way up to $600,000 for bigger units. That may sound expensive when taken at a price per square foot, but considering the alternatives for downtown area living, it will be attractive for people who would otherwise be priced out of market.
According to news reports, the micro-lofts will still offer gas stoves, stainless steel appliances, LED lighting and European cabinetry. Among the amenities offered include reserved and guest parking, a dog wash, and an amenity deck with outdoor grills and a conference room with smaller meeting rooms for residents who work from home and want a change of scenery.
Fourth& continues to add to a major area redevelopment along the East Fourth street corridor, beyond the Plaza Saltillo development. Adjacent to the Fourth& site, Eastside Station, a 300-unit luxury apartment building is slated to opening late 2015. And across the street, the Arnold Oil Redevelopment (pictured below) is underway on a three-acre lot, with a proposed 90,000 square feet of office space and 330 apartment units.