Developers Break Ground on Denizen Multifamily Project

With site preparation finally complete, foundations for the first townhomes at the Denizen project were poured last week.

With site preparation finally complete, foundations for the first townhomes at the Denizen project were poured last week. On paper since 2008, the $32 million multifamily project had been delayed by negotiations with the Salvation Army and the economic crisis. Four years later, the project has been revived by the involvement of Skybeck Construction LLC and Bill Skeen, who helped reconfigure it to make it more appealing and profitable, according to the Austin Business Journal.

The developers recently unveiled designs for the 119-unit townhouse and condo project, featuring contemporary lines with more traditional touches that blend in with the surrounding Galindo neighborhood. Targeting Austinites in their 20s and 30s, the development will include green space, a neighborhood pool and community gardens, Skybeck Construction President Adam Nyer told the Austin Business Journal.

According to the project’s website, the Denizen community will include 105 flats ranging in size from 735 square feet for one bedroom to 1,344 square feet two bedrooms. The 14 townhome-style condominiums range in size from 1,629 square feet for two bedrooms to 1,931 square feet for three bedrooms. Units at the Denizen will be priced from $180,000 to over $400,000.

With fifteen units already sold, the future seems even brighter for the developers. A recent report released by the Austin Board of REALTORS® indicates a strong demand for homes, as the volume of townhouses and condominiums purchased in the Austin area in August 2012 was 264, which is 18 percent more than August 2011. In the same period, the median price for condos was $173,250, or seven percent more than the same month of the previous year.

Photo credits: www.denizen04.com

Chart courtesy of Austin Board of REALTORS®

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