New Project Listings: 904 West

We've added listings for 904 West, a new low-rise condo project on 9th Street and West Avenue. The new development is close to the Nokonah and Whole Foods in a corner of downtown that has seen very little condo development.

904 West is an interesting "green" condo project. It's the only multi-residential property in downtown Austin offering photovoltaic systems for each unit. The project also features tankless water heaters and LED lighting.

Currently, there are 4 units listed on MLS ranging from $193K for a 577 square foot 1/1 to $327K for an 891 square foot 1/1. We're working on a full profile and will have additional details on AustinTowers soon.


La Vista on Lavaca is Dead. Again.

After a decade of starts and stops, the ill-fated La Vista on Lavaca condo project appears to be fully dead.

Now the planned nine-story residential mixed-use tower consisting of 19 condominiums on the top four floors, a three-floor Executive Business Center, and first floor restaurant, has been abandoned mid-construction by its new owners.



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Downtown Austin Condo Sales Soar in May

We've updated the AustinTowers | urbanspace Downtown Austin Condo Market Index through May, 2010 and, for the twelfth month in a row, MLS sales volumes have increased in comparison to previous year numbers. On a per square foot basis, however, year-to-date prices are down about 9% over the comparable 2009 numbers based on a 12-month rolling average.

Month
Sales
Avg. Price
$/SF
Avg SF
Avg Year
% Ask
ADOM
May-09

11

$347,045

$308
1,150
1990
96%
63

May-10

24

$258,967

$285
934
1976
96%
118

Change

118%

-25%

-8%
-19%
-13.91
0%
87%

The big news for May is that condo sales volumes soared, breaking the longstanding Austin Towers |urbanspace record of 22 units in a month (set in April, 2008). View the Full Analysis:

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With Downtown Marriott Dead, Land Owners Seek New Hotel Developer

Last month, the Austin City Council enacted a zoning change and turned over a public alley in the most effort to lure a major convention hotel to Block 18 --- the Congress Avenue block that used to house Las Manitas and which was at one point going to be taken over by a very large Marriott hotel.

The Congress Avenue Marriott -- a 1,000 room hotel complex on 2nd and Congress avenue -- was one of the most controversial, and one of the least popular downtown projects. The project is best known for displacing Las Manitas and other local businesses. Before being cancelled, the last two versions of the project were criticized for bland institutional architecture and a lack of ground-floor retail on a key block connecting the convention center area to the second street district. The original plan for the project included 1,000 rooms across 3 separate Marriott-branded hotels in one convoluted multi-facted building. The second version of the project included two hotels in one building. Version 3.0 included just one Marriott hotel with 1,000 rooms. The budget at one point reached $250 million before the project was shelved.

Now, the City is trying new tactics to Read More...