Good afternoon and thanks for subscribing to Building Austin, our weekly newsletter focusing on real estate, growth and development in the Austin area. I am Shonda Novak, the real estate reporter for the American-Statesman.
My articles over the past few days have provided interesting updates on two very interesting developments that I have written about in recent years.
Elmo Arts District, on South Congress Avenue just south of Ben White Boulevard, continues to evolve as new tenants sign up and new housing, retail, dining and entertainment options emerge.
One project expected to open later this year is Congress Lofts in St. Elmo, which will have 140 condominiums priced between $400,000 and $700,000. There will also be eight live/work units priced between $699,000 and $899,000, as well as retail space. Douglas Elliman Development Marketing, which is listing the condominium units, says 70% are already reserved.
More: The demand for housing is not going anywhere; See Condo Plans for Austin’s Evolving St. Elmo Area
Read more in my article about the St. Elmo Arts District and see some stellar photos by Statesman Award-winning photographer Jay Janner here.
The other project I just wrote about, called Four Seasons Private Residences Lake Austin, is planned for a historic bluff in one of the last undeveloped areas overlooking Lake Austin.
More: Award-winning Lake Austin tract gains new owner
Turnbridge Equities has joined the Four Seasons brand project as a development partner. Turnbridge co-developed the luxury mixed-use Music Lane project on South Congress Avenue, as well as the new CitizenM hotel downtown.
The Four Seasons project is planned as an exclusive enclave of 179 upscale condominiums, along with nine stand-alone villas, on 145 acres of pristine land west of the Pennybacker Bridge, overlooking the downtown skyline. Unit prices start at $4.6 million. Developers say about 40% of the units have buyers, a sign that real estate agents say shows demand for extremely scarce properties in Lake Austin.
Read more about the project and see some stunning renderings here.
My work is not possible without Statesman subscribers. If you subscribe, thank you! And if you don’t, please consider supporting us today. Have tips or story ideas? Contact me at 512.913.4503, snovak@statesman.com or @snovak999.
This article originally appeared in the Austin American-Statesman: New Updates for Four Seasons, St. Elmo Projects in Austin
