• 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 / News / Monarch Switches to Condos
Search suggestions: condos for sale • rainey street

Monarch Switches to Condos

towers staff July 28, 2007 Comment

As predicted, Monarch has officially announced that they are switching their project from all-rental to all-condo. This is big news, It’s indicative of both the hot condo market and the weakness of the high-end downtown rental market. The 29-story building at 805 West fifth street, is located just a block from Whole Foods. The buidling, which is less than a year away from completion, will feature 305 units from 681 square feet to 3,530 square feet and priced from the low $200,000s to $1.65 million.

Here is the summary from the Statesman:

Developers of the Monarch, a 305 unit residential tower under construction on West Fifth Street, have decided to switch the project from apartments to condominiums . . . Officials with ZOM Texas Inc. said their investors this week approved the decision to sell rather than rent the units in the 29-story building, based on what they say is continued strong demand for downtown condominium living. . .Some observers said the change renews questions about whether Austin’s downtown residential market might be at risk of being overbuilt. But Charles Heimsath, whose consulting firm does research for many developers about demand for their proposed projects, says healthy sales and reservations at various projects are prompting him to raise his estimates on how many units the market can absorb annually, and he said he expects demand to remain strong for the next two to five years.

The Monarch has a great advantage which is that they will beat many of the other planned projects to the market. With dozens of projects in the early phases of construction or still in the pre-construction planning phases, Monarch will have the advantage of marketing units that are very close to completion, and to target the pent-up demand for new projects.

Related

Filed Under: News

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: « Strong Pre-Sales for Austin Four Seasons Condos
Next Post: Future Downtown Austin Skyline »

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