We have lots of updates today on the state of sales at the leading downtown projects:
– The W Austin Hotel & Residences, which is currently building a sales center at Block 21 in downtown Austin, reports that about three-fourths of the 196 condo units have been reserved with a deposit. Construction of the building will begin in October.
– At Spring Condominiums just south of Whole Foods, 40% of the units are under contract. They report that they have sold out of all of the lower priced units. The building broke ground last month.
– At 360, the 44-story tower next to Austin Music Hall, 90% of the 430 units are under contract. The building has been very desirable because it is tall, well-located, and reasonably priced with virtually all of the units priced under $500K. The building has been under construction for a while, it is already approximately 30-stories tall.
– The 305-unit Monarch, also just a block from Whole Foods, is cryptically reporting that “there are prospective buyers for at least half of the units” although it remains clear whether these buyers have signed contracts.
– The Four Seasons Residences reported a month ago that 80% of the on floors 14-32 had already been reserved after just 6 weeks on the market. As a result, they have now opened the lower floors – floors 6 to 13 — for reservations. They expect to begin construction later this fall