Condo fees fund the daily operations and maintenance of most condo buildings. They cover security, landscaping, cleaning of common area, common area energy use, maintenance, and other key building functions. In addition — and this is very important — a portion of condo fees are held by the building as reserves to fund major maintenance…
389 of 736 Units Sold So Far in Spring, W, Austonian, and Four Seasons
There are four downtown buildings — Spring, the Four Seasons Residences , the Austonian , and the W — where you can still find new condo units (+ BartonPlace which is just across the lake). When these buildings are sold out, it will be a long time before new downtown Austin condo inventory appears. Today, the Statesman reported previously unpublished data on current…
WSJ: Shanghai or Austin, Who’s Sexier?
The Wall Street Journal’s China Daily published a very unscholarly analysis of two cities recently recognized for their sexiness in comparison to their national peers. In the U.S.A., Austin received top honors. In China, Shanghai was on top. Having just returned from Shanghai, it is an amazing place — a super modern city of just under…
La Vista on Lavaca: The New Intel Shell
It’s official: the planned “Fondren Building” (AKA La Vista on Lavaca) — a nine-story residential mixed-use tower consisting of 19 condominiums on the top four floors, a three-floor Executive Business Center, and first floor restaurant — has been abandoned mid-construction by its new owners. As a result, a 9-story concrete shell now sits idle on…
Exclusive: 30 Month Milago Sales Analysis
Over the last 30 months, 344 downtown Austin condos sales have been recorded on the MLS. Of these sales, an amazing 52 have been in the Milago — more sales than any other downtown Austin condo project (360 is #2). Of course, MLS statistics exclude sales that aren’t listed on MLS — including almost all…
Downtown Apartment Market Softening
Over the next year, the central Austin rental apartment vacancy rate is expected to jump significantly from 3.6 percent to 9.4 percent. This negative trend is in stark contrast to what is happening in the rest of the City, where employment growth and migration are reversing the current apartment supply glut. According to market data…