Over the last five years, Austin has experienced an unprecedented condo building boom. With many projects underway, the first two in the current wave are nearing completion. This week, the 44-story 360 is throwing a massive party to celebrate the building’s opening. Soon after the party, the first units will open. Over the next few months,…
The Next Big Downtown Change: 5 Proposals for Green Water Treatment Site Revealed
This week, five proposals were released for the redevelopment of the sweeping Green Water Treatment Plant site between Seaholm and the Second Street District. Nestled between Whole Foods, Ladybird Lake, Seaholm, Austin Music Hall, and the 2nd Street District is the City’s oldest sewage treatment plant – the Thomas C. Green Water Treatment Plant –…
Financing in Hand, W Austin Hotel & Condos to Begin Construction on Monday
Stratus Properties announced that it closed financing for the massive $295 million Block 21 hotel-retail-condo project behind City Hall on Friday. Not wasting anytime, they plan to begin construction on the 36-story project on Monday. No project has been subject to more speculation than the W Hotel & Residences . Over the last few months, rumors have swarmed that…
With Strong Sales, BartonPlace Construction Begins
Amid continuing market uncertainty, BartonPlace today announced that they have officially broken ground. With more than $45 million in earnest money on non-refundable contracts, BartonPlace is the latest project to confirm the strong market for well-conceived and affordable downtown housing. BartonPlace, a 270 unit condo project on Barton Springs Road, includes one, two, and three bedroom…
2008 Downtown Condo Property Assessments: Shockingly Modest Growth
This week, Travis County posted 2008 property tax assessments. Across the City of Austin, the assessed value of the average single-family house increased by a significant 12.82%. This is a big jump during a period during where actual property values seem to have increased only modestly. With the new assessment data available online, AustinTowers analyzed Hundreds…
Surprise Compromise Saves Riverside Condo Project
While the city continues to approve many variances to large downtown projects, there has remained one downtown Austin zoning request request that seems truly sacred: building in the protected zone around Lady Bird Lake. While long-standing rules prohibit construction within 200 feet of the former Town Lake, a new project may soon be built 50…