Monarch; The Milago; The Shore; Posada del
Rey; The Sabine on 5th; La Vista on Lavaca;
The W Condominiums; and others.
While there are some affordable housing
options in downtown Austin, it’s not often
the norm. Average and median pricing
for condos in the summer of 2016 was
hovering over $500 per square foot. At
the very upper end, new construction and
luxury condo tower pricing exceeding
$1, 200 per square foot. However, there are
some residential developments in the works
that are addressing the affordability factor
– and many of them are in the hot area of
Residential projects in East Austin – such
as the Saltillo Lofts and Twenty One 24,
among others – are still relatively affordable, and that’s good for those who want to
be in the thick of things, but who are also
on a budget. Downtown projects include
Westgate Tower at 11th and Colorado;
Cambridge Tower at 1801 Lavaca; Penthouse Condos at 1212 Guadalupe; the
Towers of Town Lake at 40 N. I- 35; and
the Spring Lofts.
KNOW BEFORE YOU BUY
Are you ready for the downtown lifestyle?
Downtown living is not a perfect fit for
everyone. Many downtown residential sales
are in high-rise developments, and living in
them requires some adjustment from a traditional single-family home.
Those thinking of making the switch to
a downtown high-rise should do a bit of
self-examination. Do you like to walk?
Do you need a yard? Do you need your
car every day? Have you lived in an urban
setting before? Those are all important questions to consider before making the move to
an urban lifestyle.
Buyers should also consider some of the extra
expenses that go with condominium or loft
living. Homeowner’s association fees are just
one example. Some amenities and services
are included in your fees – but not all. If the
property you are interested in offers a 24-hour
concierge service, for example, think about
whether that’s a service you would use and
want to pay for.
Always ask about a property’s parking
policy, too. Many properties allow for only
one parking space per bedroom, so if you
own a one-bedroom condo and have two
cars, you will likely need to make special
arrangements to park the second car. Ask
about visitor parking spaces, too – are
they available, or is the only option street
parking? Given Austin’s busy downtown
weekend activity, that could be a challenge.
There’s no doubt that the idea of working
and playing within easy walking distance
of home is extremely appealing to many.
According to the Downtown Austin Alliance, more than 123, 178 work in the
downtown area; about 10,000 residents
call downtown home; and more than
363,000 people live within a 10-minute
drive of downtown.
There is no particular profile of those who
choose to make downtown their home,
and the population includes many families
and young professionals, not just college
students. It’s a mixture of all age groups
– and all are attracted to the diversity that
downtown has to offer.
Source: Downtown Austin Alliance DowntownAustin.com
There’s no doubt that the idea of
working and playing within easy
walking distance of home is extremely
appealing to many.
Downtown Austin and Lady Bird Lake. Photos by Erin Seal