A few weeks ago I had the privilege of going on a private tour of two of Austin’s newest luxury condo developments, The Austonian and The Four Season Residences. I have to say it’s really exciting to see firsthand how revitalized downtown Austin has become.
Ten years ago only a few hundred people lived downtown, today it’s thousands. Although some would see no new downtown condo projects having been started since work began on the W in 2008 as a bad thing, it’s actually a good thing and really has helped balance out the inventory making the market stable. According to a recent article on statesman.com, at the Four Seasons, 77 of the 148 units are sold or under contract, the developers said. The count at the other projects: 70 of the 178 units at the Austonian; 158 of 247 at Spring; and 84 of the 159 at the W, where the first buyers will be able to move in within a few months.
Even with no new projects slated to begin in the next few years, the amount of inventory currently on the market should help keep things stable and the downtown living vibe going.