Austin Condo Projects Stalling

Posted on Thursday, August 21st, 2008 at 8:49am.

The Austin Business Journal (ABJ) reported this week that 700 condos from 12 different projects located near downtown were either put on hold or canceled indefinitely.  The ABJ’s analysis concluded that the main driver behind the stalled projects was a combination of the national economic slump, the tough credit market conditions and competition from the current supply and the 3,000 new Austin condos already on the market or soon to be released.  The list of projects the ABJ reported as either stalled, canceled or unknown status includes 1705 Guadalupe, Metropolitan, Hotel van Zandt, Aquaterra, San Jose Lofts, Don Mar, Sungari Pearl, Skyline, The Orsay and Texas Gameday Center.

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