Whitley debuts in downtown AustinWhitley debuts in downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=77442013-04-09T07:00:00Z2013-04-09T00:00:00Z

AUSTIN - The first new tower in more than two years has opened in downtown Austin at 301 Brazos St. Whitley is a 16-story project with 266 apartments at Third St. and Brazos St. Value of construction is $39 million.

The range in price and unit size will be from $1,600 a month for a 525-sf studio to $4,400 a month for the largest penthouse unit with 1,378 sf.

Whitley also includes about 12,000 sf of retail space. The building is currently about 25 percent leased, with 28 residents already moved in. All work on the building is expected to be completed in late June or early July.

Four other projects (adding another 1,121 apartments units) include:

  • 23-story SkyHouse tower (320 units) on Rainey St.;
  • 36-story Bowie tower (358 units and office space) at 311 Bowie St.;
  • 18-story Gables Residential project (222 apartments) next to the former Seaholm Power Plant site; and
  • 24-story tower Behringer Harvard project (221 units) at W. Seventh and Rio Grande.

Downtown apartment occupancies reached their highest level on record, 98.3 percent as of late February, according to Capitol Market Research. Downtown rents averaged $2,308 a month, with the average unit size being 991 sf.

Read more at the Austin American-Statesman.

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/business/amid-building-boom-first-of-several-new-apartment-/nxb97/Read more at {Source}

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