The video below is a virtual flyover of the building, and provides more insight into the design. (update: the video settings have been changed to private)
Archives for March 2012
February delivered strong numbers for sales of downtown Austin condos. I count nine new construction sales and 14 resales (compared to six and 10 in January respectively).
The 14 resales averaged $397 per square foot – the highest monthly average for resales that I can remember. Don’t mistake this for accelerating appreciation, though. Included in February’s numbers is a resale at the Austonian. And, while there’s clearly a gradual upward trend in the resale market, February’s price-per-foot surge is attributable to this burgeoning market for resales in the top-tier buildings.
You can anticipate that by the end of March all of the top-tier buildings will [factually] be over 50% closed. Each has already crossed the chasm.
Notably, Spring condos has only a couple of new units left, the [seriously amazing] penthouse(s) being one of them. For most buyers, Spring condos can be considered sold out and opportunities to buy are in the resale market. The Four Seasons Residences leads the pack in terms of percentage of units sold, though the W Hotel Residences is showing the greatest velocity. See below.
Downtown New Construction Closings
|# of |
# of Days
|Trending Completion Date (estimated)|
|Four Seasons Residences||May 7, 2010||93||148||63%||55||6||March 2013|
|Spring Condos||August 17, 2009||247||248||99%||1||4||March 2012|
|W Hotel Residences||January 10, 2011||83||159||52%||76||4||February 2013|
|The Austonian||June 10, 2010||80||163||49%||83||7||November 2013|
This piece of real estate ephemera fell into my hands only a day ago. I didn’t set out to publish two consecutive posts about the Railyard, but this was too interesting not to share!
Most of you know the Railyard condos were converted from apartments in the late ’90s. This flyer was intended to lure renters of the original Railyard apartments into buyers of the soon-to-be condos before opening them up for purchase by the general public.
Let it be known as the Railyard District, that part of downtown Austin, south of 5th Street and sandwiched between Congress Ave and the Austin Convention Center. You could straddle the convention center and include the area east, around Moonshine, too.
It’s an interesting mix of conventioneers and locals, both feeding on chicken and waffles at Max’s Wine Dive.
In the past couple of years we’ve seen improvements and new businesses open in the neighborhood, including AF1 Racing, Vince Young Steakhouse, Hank’s Garage (which is gone), and Skinny’s Ballroom.
Walking around a post-SXSW absent is the hyper-pedestrianism of the past 10 days, and I observe a “coming soon” sign. I see more as I keep walking. In one lap around the Railyard district, I counted nine businesses or projects “coming soon”!
What’s COMING SOON to the Railyard District? [Read more…]