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
looks like a bad face lift…sorry
In most situations and buildings, if you take the average price per foot, the smaller units will be priced above the average-per-foot and the larger units will be priced below the average-per-foot.
These prices are definitely high, but developers are loathe to lower prices publicly. Rather they will negotiate or incentivize to bring the price down to market.
Hmm, do high quality (and price) and tiny unit size go together?