There is another hotel condo project getting ready to start their development next year. Austin-based Ardent Residential has land under contract next to the Four Seasons Hotel, where plans are in the works for a mixed-use tower with 200 to 240 apartments on the lower floors and 70 to 80 condos on the upper levels. Construction could start in the second quarter of 2007. see the article on it below. Hybrid residences on the rise in Austin
More condo-hotels are being built simply because they make financial sense, experts say. Hotel developers can spread risk to condo owners and earn income from condo sales when projects are finished. In some cases, developers can break even upon completion.
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