Despite all of the media’s discussion of the so-called downtown Austin “condo glut,” it remains very difficult to get a new unit in a downtown highrise condo project. With 360 and the Shore essentially sold out, the market remains tight for buyers who are ready to move.

This week, however, comes good news for buyers with the opening of Brazos Place on 8th street between Brazos and Congress. Brazos Place houses 72 units in the redeveloped shell of the former Commore Perry hotel. With fewer than 12 units still available (Brazos Place Listings) ranging from a 623 SF 1/1 for a very reasonble $259,000 to a 1,399 SF 2/2 for $464,900 to a 2,745 SF 3/3 penthouse for $1.575M, Brazos Place is nearly 85% sold out and is available for immediate occupancy.

In addition, the developers have announced that they are providing incentives on some of the remaining units:

- $15,000 to $25,000 off for any contracts signed on 2-bedroom units by August 31, 2008.

- Onee year of free association dues on any one bedroom units put under contract by August 31, 2008.

Finally, the project has annonced new retail tenants. Anthony Nak and
Ana's Market are currently open. Baby Green's (salads & wraps) and
Launchpad Coworking (an internet cafe/bar) will be open by October 08.

Here are current images of the project:

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