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Old 02-19-2007, 11:10 PM
 
979 posts, read 2,954,792 times
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I'm extremely interested in all of the many new condo projects going in, in downtown Austin.

Is anyone out there very knowledgeable on these? Which ones, if any, would make a good investment? They all seem too pricey to have much leftover upside on the backend, and it would be difficult to cover the mortgage payment by renting it out.

Are there any that have more ideal locations for views than others? It seems as if there are only a few that are actually under construction at this point in time and most of the others are just in the planning stage.

I know the 360 is going into contract pretty soon and that location seems decent except for the fact that a federal courthouse will be replacing the nearby Intel shell.
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Old 02-19-2007, 11:26 PM
 
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I think the Block 21/ACL/Children's Museum/W Hotel project will be the most desirable of the projects slated to be built.
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Old 02-19-2007, 11:39 PM
 
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Quote:
Originally Posted by GreenPlastic View Post
I think the Block 21/ACL/Children's Museum/W Hotel project will be the most desirable of the projects slated to be built.
Oh, I didn't realize they were building a W there, I thought it was closer to 12th. Do you have any pointers to articles about that one? I imagine the condos at the W will be out of my investment league.
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Old 02-19-2007, 11:43 PM
 
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Just found some info here. No details on pricing yet, but they want to break ground in 2007:

http://www.stratusproperties.com/properties.asp (broken link)
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Old 02-21-2007, 07:47 AM
 
Location: Austin
34 posts, read 167,066 times
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Hey Austinguy,

I think we will have a glut of downtown condos and any investment in them I would be very careful. For owner occupants or people who need a place for friends, special events, etc. It could be a great long term investment. I don't know about buying one and selling for a profit in the next 3 years. By that time they will have leveled out in price and you may end up selling it for less than you paid for it. Does that make sense? I hope that helps in determining which one to choose.
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Old 02-21-2007, 08:23 AM
 
979 posts, read 2,954,792 times
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Quote:
Originally Posted by Ellen K View Post
I think we will have a glut of downtown condos and any investment in them I would be very careful.
Hey Ellen, I pretty much agree with you, but I'm going back and forth on the matter. I'm starting to believe that most of these condo projects won't get built, so the few that are actually started might be the only ones finished in the next few years.
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Old 02-22-2007, 01:33 PM
 
Location: Austin
34 posts, read 167,066 times
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I guess since they are going to blow up the eye sore down there soon, downtown may look alittle better to most! You may be right about them not finishing some, eeks another eye sore. I really would not know how to evaluate the likelihood of those projects being completed. I am sure those things are closely guarded secrets. I think I would concentrate on the ones that would be attractive to visiting legislators, ut alumni, etc. Those would probobly stay occupied.
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Old 02-22-2007, 01:48 PM
 
Location: Austin, TX
15,268 posts, read 35,622,212 times
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Downtown condo development will be a great intrigue for a while to come. The first to actually get financing and start construction will probaby have the easiest time renting out, the rest will have to worry about the demand. I don't think there will be any start-then-stop Intel projects, but there will be buzz and gossip on many projects, only one or two of which will get started, even.
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Old 06-02-2007, 11:02 PM
 
1 posts, read 3,574 times
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Default Downtown Austin Condo Projects

The best guide to downtown Austin condo projects --- both new and completed --- is AustinTowers.net. AustinTowers provides a guide to all of the projects with full profiles it also has lots of market analysis that would be useful to an investor. The site is: http://www.austintowers.net
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Old 10-06-2007, 11:33 PM
 
Location: Austin, TX
1 posts, read 3,229 times
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pjda is absolutely right! austintowers.net is a great resource!

Check out their FAQs at Downtown Austin Condo Project FAQ - and, be sure to read "What units make the best investment?" and "How easy is it to sell a downtown condo unit?"

I found the second article very useful, because I am currently trying to sell a unit on the 10th floor in Milago. The property seems like a great deal: it faces west with an awesome view of Town Lake, and it is priced significantly below what it appraised for just over a year ago. However, there are more options available now.
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