Posts Tagged 'downtown austin condos'

Sabine condos set for auction

Sabine condos kitchen

Model unit kitchen

UPDATE: THE AUCTION IS CONFIRMED FOR FEB. 28TH AT THE HILTON HOTEL.  Download the Sabine Auction Brochure.

CWS Capital, the developer of the Sabine condominiums, is scheduled to auction the remaining units in the 80 unit building during the last week of February.  Kennedy Wilson will be handling the auction, and I imagine it will occur in the conference room at the Hilton downtown just as their other auctions have.  No confirmed dates or locations have been set, but email us if you are interested and we’ll forward details as soon as they become available.

Sabine living room

Model unit living room

The Sabine is a 10 story office building that has been converted to 80 residential condominiums.  The building is located at 5th & Sabine, just west of I-35 along Waller Creek.  Unit interiors afford high ceilings, sealed concrete floors, maple cabinetry, stainless appliances, Silestone counters, subway tile baths and large windows.  More information about the property is available on the project website www.thesabine.com

Original pricing started in the low $200,’s and topped out around $530,000 for the premium downtown facing unit on the top floor.  On average, the units were originally priced in the $280/SF – $320/SF range.  We anticipate substantial discounts at auction of approximately 25 – 40% off the original list price.

Brazos Place Auction Results

 

Below are the results for the Brazos Place auction last week.  Several hundred bidders attended the auction and Kennedy Wilson claims over 1,000 buyer previewed the property during the weeks prior to the auction.  The units sold on average for $281/SF which we believe was a strong value for the units.  While discounted below the original list price, other opportunities presently exist in the market that we feel exhibit more value.  Let us know your thoughts if you attended.

Brazos Place Auction Results

Brazos Place Auction Results

Austonian begins work on residential tower

Austonian under construction

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Despite rumors that construction would halt at the completion of the parking structure, work has proceeded on the residential tower at the Austonian.  Currently the 11th floor, the first residential floor in the 56 story tower, is being poured.  See the Statesman article here:

Shore Condominiums opens

Shore pool deck

Recently, the Shore Condominiums opened its doors for the first residents in the building.  The 192 unit, 22 story tower was developed by High Street Residential, a subsidiary of Trammell Crow, and constructed by Harvey Cleary contractors.  Upon opening, only 3 or 4 of the 192 units remain available for purchase.  The building was designed by WDG Habib architects with interiors by Duncan and Miller.  Layouts include 1, 2 and 3 bedroom units and range from 599SF to 2500SF.  Pricing ranges from $200,000 to $1.6MM.  Amenities include a fourth floor fitness center and sixth floor pool deck with outdoor kitchen and cabana.

Click below for a slideshow:

    Planter detail

LADY BIRD LAKE CONDO PLANS APPROVED

AUSTIN (Austin Business Journal) – Save Town Lake and South River City Citizens, two groups opposed to plans to build condos close to Lady Bird Lake, have agreed to new plans presented by developer CWS Capital Partners LLC.

The agreement will enable CWS to build three residential towers at 222 and 300 East Riverside. The towers will be at least 200 feet from the lakeshore and be no taller than 96 feet.

Under the Waterfront Overlay Ordinance, buildings 150 to 200 feet from the lake cannot be taller than 35 feet. CWS’ original plan called for a variance to the ordinance to build as close as 80 feet from the lakeshore.

Richard Suttle, an attorney for CWS, says the new plan will likely take four to six months to receive final approval once it is filed with the city. A groundbreaking is expected sometime next year.


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