The Austin Business Journal reported on the 22-story condo project that broke ground in Austin this week. The Shore, a 192-unit residential complex, is slated for completion in January 2008. More than 80 percent of the units in a new high-rise condominium tower on Town Lake are committed even though the project just officially broke ground Wednesday.
"The Shore's location on the edge of downtown in a neighborhood known as the Rainey Street District will help improve an area that has been underdeveloped in recent years, says Downtown Austin Alliance Executive Director Charlie Betts. As the development's pre-sales figures illustrate, prime access to both downtown and Town Lake are amenities people are willing to pay, and wait, for.
Now with the nearby Milago Condominiums project close to completion and construction underway on the Mexican-American Cultural Center, Betts says he expects to see more high-density residential developments in the district."
Downtown Austin will continue to grow. We've seen the boom coming for years, but it is now in full swing.
Dee Copeland, Investment Specialist
AustinHomeNews.com, Team Dee Residential
eRealtyAlliance Commercial Real Estate
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