904 West Update

Below is an update from Noa Levy and 904 West Ave condos. I was able to preview this rehab last month and left impressed with the quality and design. Calling it a rehab doesn’t paint the full picture, as nearly everything is new – the studs, flooring, plumbing, electrical, all new.  You can find pricing and floor plans on their website 904west.com, and I’ve prepared a spreadsheet of their pricing which you can download here.  To update our previous coverage of 904 West pricing, asking prices begin in the $160s, and including the outdoor living space, prices average ~$329/ft.

First and foremost our contracts ready. The first phase of the project which includes 5 Residences, 3 live-works and 1 commercial space will be available to be occupied by January 1, 2010. We are offering private tours at this time and have finish boards and upgrade spec sheets in our office. 2% earnest money is required to go into contract.

We have secured 2 preferred lenders, SWBC Mortgage and Colonial National Mortgage, and we are happy to help you pre-qualify any interested parties.

To give you a quick recap about 904 West, the project is a mixed-use/multi-family style development with 33 units comprised of 2 commercial spaces, 9 live/work spaces, 13 residences, and 9 urban bungalows starting in the $160K’s. 904 West is a high-rise alternative with many green features including the first in downtown Austin to offer a photovoltaic solar energy system that will decrease resident’s energy bills. Moreover, residents can monitor their usage online and adjust accordingly. Other green features include LED lighting throughout the building, Energy Star rated Bosch stainless appliances, energy efficient heating and cooling equipment, and many green building materials.

The building will include a secured lobby, secured garage, semi-covered central atrium with meeting spaces, elevator, and private swimming pool. The property is adjacent to Duncan Park and walking distance to Whole Foods, Shoal Creek hike and bike trail, and all the shops, eateries, and entertainment downtown Austin has to offer. In addition, it is very close to major employers, the State Capitol, Courthouse for those who are seeking work opportunities or office space downtown.

904 West Ave Details Emerging

904 West Ave Details Emerging

904 West Ave Rendering

904 West Ave Rendering

Yesterday, I received more details about the downtown Austin apartment-to-condo conversion at 904 West Ave.  They managed to squeeze 33 units into their plan: 31 one-bedrooms and two commercial spaces.  The units begin at 429sf and increase in size to [a sprawling] 744sf.  The target average price is close to $360/ft and an average unit cost of $220,000 +/-.   Here is an example of a floor plan.

I’m skeptical about these prices.  Buyers have other less expensive options in central Austin neighborhoods. For instance, at 2020 condos on South Congress, a similar apartment-to-condo conversion originally constructed in the 1960s, units can be had for $99,000. Though quality issues have been rumored at 2020 Congress.

To be fair, the rendering indicates 904 West Ave is aiming high in terms of design and I haven’t seen any details on the finish outs.  I’m looking forward to seeing more from 904 West Ave.

-Jude

904 West Ave

904 West Ave

904 West Ave - condo rehab

904 West Ave - condo rehab

Not much is being released about the 904 West Ave apartment-to-condo conversion.  The two-story complex originally constructed in the 1960’s should yield 22 units +/- depending on floor plans. The sign indicates the units will start at $160k and will be ready by the fall.  From the street it appears they are still in the demolition phase of construction.  No floor plans nor pricing have been released (I’ve inquired).

Located in the “Original Austin Neighborhood”, 904 West Ave part of a great downtown Austin neighborhood – equidistant to West 6th as are the 360 condos, Duncan Park is around the corner, and I would enjoy walking to Emerald City Press each morning.

Emerald City Press

Emerald City Press

Before he earned the position of Austin City Councilmember, Chris Riley had prepared an interactive map of OAN that includes the history of some great properties – very cool!

904 West Ave has a splash page, but not many details currently.

-Jude