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 sold out project will be fully completed and all 430 units will be occupied. In addition to selling all units, the project’s waiting list remains long. Like most projects, 360 is being completed sequentially starting from the bottom and working towards the top. As the building grows taller, work begins on the interiors of the lower floors. With it’s opening, 360 becomes the tallest building in Austin – surpassing the height of the Frost Bank Tower by 50 feet.
In addition, The 23-floor Shore on Davis Street in the southeast quadrant is also nearing completion. Over the last few weeks, residents have begun to move in.
With the completion of 360 and the Shore, there will be as many as 1,000 new residents living in 622 new downtown condo units. While many additional condo projects are planned — both of these projects are essentially sold out. If you are looking for a new downtown condo unit, at this point you will likely have to wait until the next round of units hits the market in 2009. That said, there are at least 2 listings on MLS for units in the Shore and likely a few more that will hit the market soon.