Despite mixed economic news dominating the headlines, the downtown Austin condo market continues to strengthen. We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for July, 2011 — a very strong month. With July’s results, our seasonally neutral 12-month tracking index set a record for the highest average monthly sales and the shortest average days on market….
Congress Avenue Marriott Marquis to Open in 2015
According to the Austin Business Journal, the controversial 1,000+ room Congress Avenue Marriott on the former site of Las Manitas will open in 2015 as scheduled. The hotel will carry the “Marriott Marquis” brand. According to the Austin Business Journal, “The Austin Marriott Marquis, which will be owned and operated by White Lodging Services Corp.,…
Monarch Apartments Sold
The Monarch apartment complex on fifth street was sold to Windsor Communities this week for a price rumored to be just over $100 million. The Monarch has an amazingly complex history for such young building. It was a rental building and then a condo project and then a rental building again. When it first hit…
New 28-Story Hotel Planned for 8th & Congress
According to the Austin Business Journal and the Downtown Austin Blog , a new 28-story hotel is planned for 8th and Congress Avenue. With multiple Congress avenue towers in various stages of planning, this newly-proposed tower is the latest sign that Congress Avenue will likely be dramatically transformed over the next decade. According to the Austin Business Journal, “Austin developer David…
The Downtown Parking Controversy Continues
It’s been an ongoing debate: when should downtown street parking be free and when should the City require payment? For a long time, the City has operated meters from 8:30am – 5:30pm Monday – Friday. In March, the City Council voted to extend these hours to midnight downtown. One of the reasons for the change…
Exclusive: June Condo Sales Set New Record
We’ve updated the AustinTowers | TOWERS Realty Downtown Austin Condo Market Index for June, 2011. While prices remained flat during the month of June, an amazing 29 downtown Austin Condo sales crossed the MLS. This is a new one month record for our market index. The June results are very interesting, they show renewed market strength at the low end…