Hot off the press, the Austin-American Statesman is reporting today that the “Four Seasons condos break ground this week.” I’ve heard that before (for the past seven years, in fact!), and I know that many bets could be lost if the Four Seasons Residential does become a reality. The 32-floor, 166 unit luxury residential high-rise with views of the newly renamed Lady Bird Lake is now expected to open on 2010.

Many have been worrying that Austin’s downtown can’t support the prices of $400,000 to $4 million, but with nearly half of the units already sold with nonrefundable deposits, it seems that this project is very healthy.

Still, with sales slow in neighboring buildings such as Milago, which also has beautiful views of Lady Bird Lake and luxurious amenities, can Austin take all of the planned urban residential development?

For now, it seems that people are still willing to spend the money to live in Austin’s booming downtown. With sales still holding slow across the board (even in sub prime developments), it seems our quickly growing number of Austinites can afford the luxury of an urban downtown, but are taking their time like they are all over the city.

If you would like more information on this development or any other condos/flats in downtown Austin, call 512-771-1776 or email ariakristen@gmail.com.

Aria Schoenfelt McIntosh
BridgeOne Properties & Corias Homes, Inc.
http://www.liveaustinrealestate.com