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You are here: Home / Condo Projects / Counting Down to Condo Conversion at Zilkr on the Park Apartments
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Counting Down to Condo Conversion at Zilkr on the Park Apartments

James Rambin June 5, 2017 Comment

A view of the Zilkr on the Park complex at 1900 Barton Springs Road. Image credit: Mill Creek Residential.

We learned a couple of weeks ago that a new owner for Zilkr on the Park Apartments at 1900 Barton Springs Road plans to convert the complex to condos, with a public opening a week away. 

All of this is kind of interesting for a few reasons. For one, if your memory stretches back that far, you’ll recall that condo units were actually in the original plan for the site. There was also a boutique hotel and bar/restaurant component planned for a while, until it wasn’t. The whole thing just kind of dried up and turned into apartments instead, which always felt like a bit of a missed opportunity for something interesting considering the exclusivity of the 1.5 acre site — you seriously can’t get any closer to Zilker Park than this.

A few of the floorplans for units at Zilkr on the Park. Image credit: Mill Creek Residential.

Here’s the nitty gritty: The five-story complex, which was completed in 2014, holds 213 units ranging from about 600 to 1,300 square feet, with one and two-bedroom floorplans available alongside studios. The original owner and builder was Mill Creek Residential Trust, LLC, a large developer with more than 17,000 apartment units under their belt and a lot of former Trammell Crow talent on staff, if you take a peek at their executive board. The new owners, incorporated under the name Zilkr Owner LLC, are associated with The Fallstaff Group, a Baltimore developer specializing in condo conversions around the country.

Interior views of some units at Zilkr on the Park. Image credit: Mill Creek Residential Trust.

The ABJ article about the acquisition mostly covers the details, although the headline calling them “high-profile” apartments seems … generous.  The most distinguishing aspect of this building is its extreme proximity to the park — I probably wouldn’t have recognized the building if I hadn’t walked past it a million times on the way to the Austin City Limits Music Festival in recent years. But despite the fact that this community only opened a few years back, what’s going on here isn’t hugely different from a lot of the condo conversions we’ve seen in Austin before, right down to the new owner’s promises of luxury fixtures.

The buyer plans extensive renovations from a total makeover of the lobby, including the installation of white marble floors and modern Italian furnishings by Roche Bobois.

– Austin Business Journal

The Fallstaff Group is an interesting company, mostly due to its CEO, Elliott J. Sharaby.  Self-described as the “King of Condo Conversions” in his bio, which you’ve really got to read for yourself. Sharaby’s career spans back decades, with this 1993 article describing his early days of apartment-condo flipping with developer Joel Gamel.

Here are some sample marketing materials from past sales efforts.

My favorite is either the motorcycle guy or the people in love because of her condo.

These ads are hilarious, but more importantly, they line up with the marketing techniques described in the 1993 article:

Adding to the hubbub was the use of a public address system inside units and in the public areas to announce sales contracts in between broadcasts of instrumental music. Red price tags were hung on the doors. Models were furnished down to everyday items, including fake Chinese food on the table.

Joel Gamel theorized that buyers in the blizzard “thought it was an auction.” Color advertisements featured the words “D.C. foreclosure sale,” along with a slightly erroneous map that showed the project on N Street one block off Pennsylvania, just around the corner from the White House.

“It wasn’t high pressure, but it was high energy,” he said of opening day.

— The Washington Post

The “public notice” and “closeout sale” vibe of the posters above begs the question: what kind of publicity blitz are we in for with Zilkr?  It’s certainly a strange but clearly effective sales tactic, at least for those “distressed” properties that needed to sell quickly as described in that article.  

That doesn’t seem to be the case for Zilkr, which by all appearances was at or near full occupancy, and had a recent property appraisal of $55 million.  

Maybe Zilkr’s fortunate geography will save it from being marketed with the subtlety of a police auction.  Of course, marketers should always be looking for inspiration. 

Prices reported beginning in the low $300,000s.  

www.zilkronthepark.com

Zilker Park homes for sale

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  • $1,650,000 2405 Ridgeview Street
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  • $1,100,000 1529 Barton Springs Road #23
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  • $449,900 1201 Hollow Creek Drive #201
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  • $1,395,000 1303 Azie Morton Road
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  • $1,750,000 2410 Spring Creek Drive
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  • $539,000 1307 Kinney Avenue #140
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  • $1,550,000 2511 Ridgeview Street
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  • $515,000 1900 Barton Springs Road #1042
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  • $1,075,000 1600 Barton Springs Road #5306
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  • $1,100,000 1706 Kinney Avenue
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  • $1,874,999 1305 Kinney Avenue #1
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  • $1,250,000 1800 Kinney Avenue
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  • $1,350,000 1809 Kerr Avenue
    Austin, TX
  • $1,350,000 1811 Kerr Street
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  • $1,190,000 1118 Azie Morton Road
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  • $3,085,000 1503 Dexter Street
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  • $1,998,000 1704 Kinney Avenue #B
    Austin, TX
  • $2,950,000 1510 Juliet Street
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1704 Kinney Avenue #A
Austin, TX
Photo of 1704  Kinney Avenue #A, Austin, TX 78704 (MLS # 1665212)
$1,998,000
Lot Size
10,281 sqft

Home Size
2,068 sqft

Beds
4 Beds

Baths
3 Baths

1908 Goodrich Avenue #B
Austin, TX
Photo of 1908  Goodrich Avenue #B, Austin, TX 78704 (MLS # 8869010)
$1,795,000
Lot Size
4,448 sqft

Home Size
2,044 sqft

Beds
3 Beds

Baths
4 Baths

1600 Barton Springs Road #6105
Austin, TX
Photo of 1600  Barton Springs Road #6105, Austin, TX 78704 (MLS # 7402823)
$699,000
Lot Size
719 sqft

Home Size
1,117 sqft

Beds
2 Beds

Baths
2 Baths

2405 Ridgeview Street
Austin, TX
Photo of 2405  Ridgeview Street, Austin, TX 78704 (MLS # 3369768)
$1,650,000
Lot Size
11,248 sqft

Home Size
1,601 sqft

Beds
2 Beds

Baths
2 Baths

1600 Barton Springs Road #6208
Austin, TX
Photo of 1600  Barton Springs Road #6208, Austin, TX 78704 (MLS # 8595156)
$565,000
Lot Size
480 sqft

Home Size
743 sqft

Beds
1 Bed

Baths
1 Bath

1600 Barton Springs Road #1108
Austin, TX
Photo of 1600  Barton Springs Road #1108, Austin, TX 78704 (MLS # 2310303)
$549,900
Lot Size
480 sqft

Home Size
743 sqft

Beds
1 Bed

Baths
1 Bath

1529 Barton Springs Road #23
Austin, TX
Photo of 1529  Barton Springs Road #23, Austin, TX 78704 (MLS # 6382276)
$1,100,000
Lot Size
N/A

Home Size
1,984 sqft

Beds
2 Beds

Baths
3 Baths

1201 Hollow Creek Drive #201
Austin, TX
Photo of 1201  Hollow Creek Drive #201, Austin, TX 78704 (MLS # 5561936)
$449,900
Lot Size
7,275 sqft

Home Size
664 sqft

Beds
1 Bed

Baths
1 Bath

908 Josephine Street
Austin, TX
Photo of 908  Josephine Street, Austin, TX 78704 (MLS # 2039292)
$1,095,000
Lot Size
7,406 sqft

Home Size
1,838 sqft

Beds
2 Beds

Baths
1 Bath

1529 Barton Springs Road #5
Austin, TX
Photo of 1529  Barton Springs Road #5, Austin, TX 78704 (MLS # 7522503)
$1,350,000
Lot Size
4,836 sqft

Home Size
2,868 sqft

Beds
3 Beds

Baths
4 Baths

1303 Azie Morton Road
Austin, TX
Photo of 1303  Azie Morton Road, Austin, TX 78704 (MLS # 9427440)
$1,395,000
Lot Size
5,228 sqft

Home Size
2,068 sqft

Beds
4 Beds

Baths
3 Baths

2410 Spring Creek Drive
Austin, TX
Photo of 2410  Spring Creek Drive, Austin, TX 78704 (MLS # 1276479)
$1,750,000
Lot Size
9,601 sqft

Home Size
1,862 sqft

Beds
3 Beds

Baths
2 Baths

1307 Kinney Avenue #140
Austin, TX
Photo of 1307  Kinney Avenue #140, Austin, TX 78704 (MLS # 7847476)
$539,000
Lot Size
2,213 sqft

Home Size
1,101 sqft

Beds
2 Beds

Baths
3 Baths

2511 Ridgeview Street
Austin, TX
Photo of 2511  Ridgeview Street, Austin, TX 78704 (MLS # 7792414)
$1,550,000
Lot Size
8,168 sqft

Home Size
1,565 sqft

Beds
3 Beds

Baths
2 Baths

1900 Barton Springs Road #1042
Austin, TX
Photo of 1900  Barton Springs Road #1042, Austin, TX 78704 (MLS # 9515401)
$515,000
Lot Size
39,204 sqft

Home Size
887 sqft

Beds
1 Bed

Baths
1 Bath

1600 Barton Springs Road #5306
Austin, TX
Photo of 1600  Barton Springs Road #5306, Austin, TX 78704 (MLS # 4899008)
$1,075,000
Lot Size
1,120 sqft

Home Size
1,740 sqft

Beds
3 Beds

Baths
2 Baths

1706 Kinney Avenue
Austin, TX
Photo of 1706  Kinney Avenue, Austin, TX 78704 (MLS # 1408556)
$1,100,000
Lot Size
6,796 sqft

Home Size
845 sqft

Beds
2 Beds

Baths
2 Baths

1305 Kinney Avenue #1
Austin, TX
Photo of 1305  Kinney Avenue #1, Austin, TX 78704 (MLS # 1163857)
$1,874,999
Lot Size
4,600 sqft

Home Size
2,252 sqft

Beds
4 Beds

Baths
3 Baths

1800 Kinney Avenue
Austin, TX
Photo of 1800  Kinney Avenue, Austin, TX 78704 (MLS # 4396659)
$1,250,000
Lot Size
5,485 sqft

Home Size
1,318 sqft

Beds
2 Beds

Baths
2 Baths

1809 Kerr Avenue
Austin, TX
Photo of 1809  Kerr Avenue, Austin, TX 78704 (MLS # 5713985)
$1,350,000
Lot Size
8,516 sqft

Home Size
1,213 sqft

Beds
3 Beds

Baths
2 Baths

1811 Kerr Street
Austin, TX
Photo of 1811  Kerr Street, Austin, TX 78704 (MLS # 5390673)
$1,350,000
Lot Size
8,843 sqft

Home Size
1,314 sqft

Beds
3 Beds

Baths
2 Baths

1118 Azie Morton Road
Austin, TX
Photo of 1118  Azie Morton Road, Austin, TX 78704 (MLS # 3257580)
$1,190,000
Lot Size
7,406 sqft

Home Size
2,928 sqft

Beds
N/A

Baths
N/A

1503 Dexter Street
Austin, TX
Photo of 1503  Dexter Street, Austin, TX 78704 (MLS # 1732029)
$3,085,000
Lot Size
6,927 sqft

Home Size
3,376 sqft

Beds
4 Beds

Baths
4 Baths

1704 Kinney Avenue #B
Austin, TX
Photo of 1704  Kinney Avenue #B, Austin, TX 78704 (MLS # 1356621)
$1,998,000
Lot Size
10,281 sqft

Home Size
2,068 sqft

Beds
4 Beds

Baths
3 Baths

1510 Juliet Street
Austin, TX
Photo of 1510  Juliet Street, Austin, TX 78704 (MLS # 6419269)
$2,950,000
Lot Size
7,275 sqft

Home Size
2,905 sqft

Beds
4 Beds

Baths
5 Baths

  • 1704 Kinney Avenue #A
    Austin, TX
    Photo of 1704  Kinney Avenue #A, Austin, TX 78704 (MLS # 1665212)
    $1,998,000
    Lot Size
    10,281 sqft

    Home Size
    2,068 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 1908 Goodrich Avenue #B
    Austin, TX
    Photo of 1908  Goodrich Avenue #B, Austin, TX 78704 (MLS # 8869010)
    $1,795,000
    Lot Size
    4,448 sqft

    Home Size
    2,044 sqft

    Beds
    3 Beds

    Baths
    4 Baths

  • 1600 Barton Springs Road #6105
    Austin, TX
    Photo of 1600  Barton Springs Road #6105, Austin, TX 78704 (MLS # 7402823)
    $699,000
    Lot Size
    719 sqft

    Home Size
    1,117 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 2405 Ridgeview Street
    Austin, TX
    Photo of 2405  Ridgeview Street, Austin, TX 78704 (MLS # 3369768)
    $1,650,000
    Lot Size
    11,248 sqft

    Home Size
    1,601 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 1600 Barton Springs Road #6208
    Austin, TX
    Photo of 1600  Barton Springs Road #6208, Austin, TX 78704 (MLS # 8595156)
    $565,000
    Lot Size
    480 sqft

    Home Size
    743 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 1600 Barton Springs Road #1108
    Austin, TX
    Photo of 1600  Barton Springs Road #1108, Austin, TX 78704 (MLS # 2310303)
    $549,900
    Lot Size
    480 sqft

    Home Size
    743 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 1529 Barton Springs Road #23
    Austin, TX
    Photo of 1529  Barton Springs Road #23, Austin, TX 78704 (MLS # 6382276)
    $1,100,000
    Lot Size
    N/A

    Home Size
    1,984 sqft

    Beds
    2 Beds

    Baths
    3 Baths

  • 1201 Hollow Creek Drive #201
    Austin, TX
    Photo of 1201  Hollow Creek Drive #201, Austin, TX 78704 (MLS # 5561936)
    $449,900
    Lot Size
    7,275 sqft

    Home Size
    664 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 908 Josephine Street
    Austin, TX
    Photo of 908  Josephine Street, Austin, TX 78704 (MLS # 2039292)
    $1,095,000
    Lot Size
    7,406 sqft

    Home Size
    1,838 sqft

    Beds
    2 Beds

    Baths
    1 Bath

  • 1529 Barton Springs Road #5
    Austin, TX
    Photo of 1529  Barton Springs Road #5, Austin, TX 78704 (MLS # 7522503)
    $1,350,000
    Lot Size
    4,836 sqft

    Home Size
    2,868 sqft

    Beds
    3 Beds

    Baths
    4 Baths

  • 1303 Azie Morton Road
    Austin, TX
    Photo of 1303  Azie Morton Road, Austin, TX 78704 (MLS # 9427440)
    $1,395,000
    Lot Size
    5,228 sqft

    Home Size
    2,068 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 2410 Spring Creek Drive
    Austin, TX
    Photo of 2410  Spring Creek Drive, Austin, TX 78704 (MLS # 1276479)
    $1,750,000
    Lot Size
    9,601 sqft

    Home Size
    1,862 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1307 Kinney Avenue #140
    Austin, TX
    Photo of 1307  Kinney Avenue #140, Austin, TX 78704 (MLS # 7847476)
    $539,000
    Lot Size
    2,213 sqft

    Home Size
    1,101 sqft

    Beds
    2 Beds

    Baths
    3 Baths

  • 2511 Ridgeview Street
    Austin, TX
    Photo of 2511  Ridgeview Street, Austin, TX 78704 (MLS # 7792414)
    $1,550,000
    Lot Size
    8,168 sqft

    Home Size
    1,565 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1900 Barton Springs Road #1042
    Austin, TX
    Photo of 1900  Barton Springs Road #1042, Austin, TX 78704 (MLS # 9515401)
    $515,000
    Lot Size
    39,204 sqft

    Home Size
    887 sqft

    Beds
    1 Bed

    Baths
    1 Bath

  • 1600 Barton Springs Road #5306
    Austin, TX
    Photo of 1600  Barton Springs Road #5306, Austin, TX 78704 (MLS # 4899008)
    $1,075,000
    Lot Size
    1,120 sqft

    Home Size
    1,740 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1706 Kinney Avenue
    Austin, TX
    Photo of 1706  Kinney Avenue, Austin, TX 78704 (MLS # 1408556)
    $1,100,000
    Lot Size
    6,796 sqft

    Home Size
    845 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 1305 Kinney Avenue #1
    Austin, TX
    Photo of 1305  Kinney Avenue #1, Austin, TX 78704 (MLS # 1163857)
    $1,874,999
    Lot Size
    4,600 sqft

    Home Size
    2,252 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 1800 Kinney Avenue
    Austin, TX
    Photo of 1800  Kinney Avenue, Austin, TX 78704 (MLS # 4396659)
    $1,250,000
    Lot Size
    5,485 sqft

    Home Size
    1,318 sqft

    Beds
    2 Beds

    Baths
    2 Baths

  • 1809 Kerr Avenue
    Austin, TX
    Photo of 1809  Kerr Avenue, Austin, TX 78704 (MLS # 5713985)
    $1,350,000
    Lot Size
    8,516 sqft

    Home Size
    1,213 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1811 Kerr Street
    Austin, TX
    Photo of 1811  Kerr Street, Austin, TX 78704 (MLS # 5390673)
    $1,350,000
    Lot Size
    8,843 sqft

    Home Size
    1,314 sqft

    Beds
    3 Beds

    Baths
    2 Baths

  • 1118 Azie Morton Road
    Austin, TX
    Photo of 1118  Azie Morton Road, Austin, TX 78704 (MLS # 3257580)
    $1,190,000
    Lot Size
    7,406 sqft

    Home Size
    2,928 sqft

    Beds
    N/A

    Baths
    N/A

  • 1503 Dexter Street
    Austin, TX
    Photo of 1503  Dexter Street, Austin, TX 78704 (MLS # 1732029)
    $3,085,000
    Lot Size
    6,927 sqft

    Home Size
    3,376 sqft

    Beds
    4 Beds

    Baths
    4 Baths

  • 1704 Kinney Avenue #B
    Austin, TX
    Photo of 1704  Kinney Avenue #B, Austin, TX 78704 (MLS # 1356621)
    $1,998,000
    Lot Size
    10,281 sqft

    Home Size
    2,068 sqft

    Beds
    4 Beds

    Baths
    3 Baths

  • 1510 Juliet Street
    Austin, TX
    Photo of 1510  Juliet Street, Austin, TX 78704 (MLS # 6419269)
    $2,950,000
    Lot Size
    7,275 sqft

    Home Size
    2,905 sqft

    Beds
    4 Beds

    Baths
    5 Baths

Previous Next
 

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Filed Under: Condo Projects Tagged With: 78704, apartments, condos, conversions, zilker

About James Rambin

James is an Austin native, but tries not to brag about it. Email him anything at james@towers.net.

48 East Avenue #2901
Austin, TX
Photo of 48  East Avenue #2901, Austin, TX 78707 (MLS # 7310385)
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