Quick! Grandma is Snatching Up the Downtown Austin Condos

By DeeinAustin™

Here's a quick rundown of where the Downtown Austin condos are in the development and sales process.

So who is buying all of these condos? ANSWER: Downtown condo buyers are typically young professionals and empty nesters in any city. Boomers often buy second homes here to be near their grandchildren attending (or who graduated from) the University of Texas.

Here's the Downtown Austin Condo update from April Downey at Independence Title. There are 4,000 condominium units currently permitted in downtown Austin. The completion cycle is anywhere between 2 ½ - 4 years from start to finish. 800 units per year will be available downtown (apt/condo), compared to 25,000 housing starts/year on average in Austin.

Projects slated for completion in 2008:

• 360 Condominiums has 430 units, 7 still available
• Shore will have 190 units, 4 units are still available
• Monarch has 305 units, 50 are under contract

Projects slated for completion in 2009/2010:

• Spring  has 200 units with 80 already under contract
• Austonian is picking up momentum
• W is 80% reserved
• 21C will start marketing soon

See our Downtown Austin Condo slideshow and the previous article, Downtown Austin Set to Expand.

Contact us for buyer information on these properties or other projects, which will not most likely be listed in MLS.

Comments

[anonymous]

The Monarch is now slated to become apartments with rents starting at $1700 according to KeyeTV last night (no link on keyetv.com).