priller
Sep 22, 2010, 1:22 PM
http://www.statesman.com/business/downtown-condo-market-defies-the-downturn-924163.html
Despite coming to market during the worst national recession in decades, the newest projects have managed to hold their own.
According to the developers, 389 of the 736 units in the four newest buildings are sold or under contract. The others are the 42-story Spring, which opened a year ago on the west side of downtown, and the W Austin Hotel & Residences , under construction north of City Hall.
"The market in the past 12 months is far stronger than what we experienced in the previous year," said David Ward, executive vice president for Atlanta-based Post Properties Inc., which developed the Four Seasons Residences with Ardent Residential. "The fear that was prevalent during the depth of the downturn has been replaced by confidence."
At the Four Seasons, 77 of the 148 units are sold or under contract, the developers said. The count at the other projects: 70 of the 178 units at the Austonian; 158 of 247 at Spring; and 84 of the 159 at the W, where the first buyers will be able to move in within a few months.
In addition, prices generally are holding...
Despite coming to market during the worst national recession in decades, the newest projects have managed to hold their own.
According to the developers, 389 of the 736 units in the four newest buildings are sold or under contract. The others are the 42-story Spring, which opened a year ago on the west side of downtown, and the W Austin Hotel & Residences , under construction north of City Hall.
"The market in the past 12 months is far stronger than what we experienced in the previous year," said David Ward, executive vice president for Atlanta-based Post Properties Inc., which developed the Four Seasons Residences with Ardent Residential. "The fear that was prevalent during the depth of the downturn has been replaced by confidence."
At the Four Seasons, 77 of the 148 units are sold or under contract, the developers said. The count at the other projects: 70 of the 178 units at the Austonian; 158 of 247 at Spring; and 84 of the 159 at the W, where the first buyers will be able to move in within a few months.
In addition, prices generally are holding...