Funds Paid by Developer for Traffic Mitigation - $227,840
Looks like 44 East is 25% sold and they haven't officially broken ground. Here's what our friends at Towers.net reported on 10.18.19
44 East Avenue, the tallest downtown Austin condo tower headed for the Rainey Street District at the moment, is less than a month away from celebrating its groundbreaking — and more than 25 percent of the project’s reported 322 residential units are already under contract, according to local real estate firm Urbanspace. Full Article HERE.
Sept. 25, 2019 Update - As reported by intracorphomes.com
44 East will be retaining 2 heritage trees. Here's the snip from their website:
Intracorp has announced that construction will begin in October 2019, with completion in 2022, on a 49-story condominium tower that is 570 ft. tall with 322 condo units. They will contribute to the Trail Foundation project which is partnering with the Austin Parks and Recreation Department to revitalize the Rainey Street trailhead across from 44 East Ave. The entry point to the Ann and Roy Butler Hike and Bike Trail will be made more functional and attractive with increased amenities to benefit trail users, residents and visitors to the Rainey Street District.
The developers will be paying about $1 million into the city of Austin’s Affordable Housing Fund. About 14 units in the development will be reserved for income-qualified buyers at below-market rates. The market-rate units with one-bedroom are expected to cost under $400,000 to about $600,000, for a 500 to 700 sq. feet condo. Two-bedrooms ranging from 800 sq. feet to about 1,400 sq. feet, will cost $550,000 to $1 million+. Three-bedrooms, with 1,700 to 2,100 sq. feet, will be $1 million up to $2 million. Penthouse units, with sizes ranging from 2,000 sq. ft. to 3,500 sq. ft. will be between $2 million and $4 million.