“ZOM Inc. has again changed its mind about whether units in the currently-under-construction Monarch should be rented or sold. You may recall that The Monarch was initially announced as rental apartments, but switched to for-sale condos two months ago. The timing on that decision wasn’t great – Austin’s housing inventory has been piling up in the last few months
About twenty percent of The Monarch’s units were sold between then and now, but that wasn’t enough for ZOM, so they cancelled those contracts and plan to rent the entire building. Construction is expected to be completed next spring.” source: austinist.com
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