Downtown apartments, condos are on the rise

Red River Flats, 360 and Spring will add nearly 800 units to Austin fast-growing city center.

AMERICAN-STATESMAN STAFF
Tuesday, June 13, 2006

Downtown's residential scene continues to heat up, with work started on or scheduled to start on projects at the eastern and western perimeters. Combined, they will add almost 800 condominium or apartment units to one of Austin's fastest-growing neighborhoods.

Two of the three projects will be high-rises and will be among the tallest buildings downtown when they open.

 •360 (Work on three residential projects downtown is under way, or soon will be. Condo tower 360, which will be on West Third and Nueces streets, is set to have its official groundbreaking June 20.)

Atlanta-based Novare Group Holdings LLC and its local partner, Andrews Urban LLC, named their condominium tower at West Third and Nueces streets 360 for its promised view. One distinctive feature will be a lighted glass spire.

Size: 44 floors, 432 units

Prices: One-bedroom units starting under $200,000; two-bedroom units under $300,000

Architects: Preston Partnership LLC, Atlanta

Status: Official groundbreaking is June 20. Project will open in late 2007.

•Red River Flats (Construction of the Red River Flats, at Red River and East Ninth streets, is going strong.)

South Carolina-based Greystar Real Estate Partners' project is set for the former Reddy Ice site at Red River and East Ninth streets. It will have underground parking and an elevated pool overlooking Waller Creek.

Size: Four floors, 120 units

Prices: Monthly rents range from $1,350 to $2,520.

Architects: Steinberg Design Collaborative, Houston

Status: Under construction. The first units will be available in July 2007.

•Spring (Work on three residential projects downtown is under way, or soon will be. The Spring high-rise is scheduled to have its official groundbreaking in January. Spring's site is at Third and Bowie streets.)

A zoning variance allows Spring to be 400 feet, 280 feet higher than city rules allow on the western edge of downtown. The condominium tower at Third and Bowie streets, near the old Seaholm Power Plant, is being developed by Perry Lorenz, Larry Warshaw, Robert Barnstone and Diana Zuniga.

Size: 36 floors, 220 units

Prices: $200,000 to $400,000

Architects: Rafii Architects Inc., Vancouver, British Columbia; Morris Architects, Houston

Status: Groundbreaking scheduled for January, with opening in early 2008.