The Monarch — billed as the city’s first luxury rental high rise tower — is now very far along in the construction process. Developer ZOM Austin is constructing what was supposed to be a 27 story rental project on 5th just East of Lamar with 297 rental apartments and 8,500 square feet of ground floor…
How easy is it to sell a downtown condo?
The market for downtown condos is very active but quite different from the single family home market in two key facets. First, downtown condo owners who want to sell are currently competing with new units entering the market. If too many units come on at once, downward pricing pressure may ensue. That said, developers are…
New York Times Article: Protecting the Hill Country
The New York Times published an interesting analysis of the development pressures on the hill country surrounding Austin. The hill country is one of Austin’s greatest assets and has historically been protected from development by the difficulty of providing a reliable water supply across the rural region. Recently, however, new water infrastructure has changed the…
360 Sales Update
According to a source who recently visited the 360 sales center, the 44-story 430 unit is selling well and should sell out soon — many months ahead of its scheduled completion date. With 430 units, 360 is the largest of the current crop of developments, so a sell out would be a strong sign for the market….
The NEW Austin Luxury Condo Market
When 21c Musuem & Condos , the latest downtown luxury condo project, was announced on June 11, many interesting questions were once again raised about the downtown luxury condo market. While the market remains strong for units priced below $400K — such as many of those in 360 and Milago — the market for high end units is not yet proven….
Spring Breaks Ground
Another downtown Austin condo building has begun it’s unstoppable climb to the sky. Over the last few weeks, construction has begun on the Spring condo development in the Austin Market District, just south of Whole Foods. The $70 million project will be 42-stories high. The 260-unit project at 3rd & Bowie will have units starting in the…