Great news for Austin highrise condo buyers! The Austin American Statesman confirmed this week that Riverside Resources is about to break ground on Fifth & West Residences, a new 39-story condominium project that will bring 154 new units to our inventory-starved downtown.
The project will be sited on the northeast corner of West Fifth Street and West Avenue, former home of the Texas Press Association, whose old building is scheduled for demolition later this month. New construction is slated to begin shortly after, with a targeted completion in Q4 2017.
One-, two- and three-bedroom condos will be available, aiming at an average price per square foot of $740. Numerous indoor and outdoor common amenities, including pool, gym, yoga studio and dog-walk park are planned for the building, which also strives to maximize compliance with Austin Energy Green Building guidelines.
Architecturally, capital view corridor restrictions drove Dallas-based GDA Architects to unite utility and aesthetics into one. By “diagonalling” the east-facing façade, they were able to maintain views of the dome from the city’s southwest and give the building a unique a unique silhouette on the skyline at the same time.
Inside, Austin’s Michael Hsu Office of Architecture plans to bring their characteristic blend of warmth-meets-sleek throughout the building, continuing to integrate the diagonaled theme.
The announcement of Fifth & West Residences marks the second in as many months for new condo projects in the Market District. Stretching from Whole Foods flagship store and the Spring Condominiums on one end, to the 360 Condominiums and the Greenwater Redevelopment on the other, and encompassing the Seaholm Residences, retail, restaurants and pedestrian-friendly trail access via Shoal Creek, this neighborhood is about to become the hottest area in town.