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Sunday, August 26, 2007

Austin's condo market

Downtown Austin is beginning to look like mini-Manhattan to me. When I lived in Long Island, I visited New York City frequently and remembered looking at the skyline littered with construction cranes, scaffolding, newly restored buildings, etc. This is becoming a familiar sight in Austin as developers take a dip in the high-rise condominium projects.

The Austin Statesman (dated Aug. 26 2007) reports that more than 1,000 condominiums units are under construction either downtown or nearby and that more than 3,100 are planned. Soon we will find out if all of the 3,100 planned will be built. Some of the planned projects include:

Lofts on Shoal Creek: 7 stories/91 units
Gables Park Plaza: 15 stories/100 units
Seaholm Plaza Hotel: 22 stories/62 units
Block 51: 35 stories/420+ units
Block 52: 40+ stories/500+ units
W residences (Block 21): 36 stories/196 units
The Austonian: 55 stories/195 units
721 Congress: 6 units/16 stories
Fifth & Congress: 47 units/180-200 stories

And the list goes on. To view more and to keep track of downtown condominiums projects, view the Austin Statesman's site.