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NOVARE GROUP AND ANDREWS URBAN ANNOUNCE NEW NAME, DESIGN FOR AUSTIN'S TALLEST DOWNTOWN RESIDENCE"360" Will Provide Impressive Views of Austin With 44-Story Glass TowerAUSTIN, Texas - February 1, 2006 - Loop 360. Austin360.com. 360-degree views. The number 360 is important to Austin on a number of levels, and will soon take on a towering new meaning when Novare Group Holdings, LLC and Andrews Urban LLC (Novare-Andrews Urban) break ground this spring on Austin's newest downtown high-rise condominiums. "We chose '360' because of its highly recognizable connection to Austin, the incredible surrounding views of downtown, Town Lake and the Hill Country, and because of the full life experience that will surround the building's residents," said Taylor Andrews, principal of Andrews Urban. In keeping with the theme of 360, Novare-Andrews Urban has chosen "Life Surrounds You" as the building's message to buyers through its marketing materials and its new Web site, www.LifeSurroundsYou.com, where interested homebuyers will soon be able to view amenities and unit floor plans and register for more information. The 44-story, 433-unit glass condominium tower, located at 360 Nueces Street between Third and Fourth streets in Downtown Austin, will feature a lighted glass spire facing Town Lake, street-level retail, large balconies for each unit, limestone accents at street level, and decorative metal panels created by local Austin artists. Inside, each unit will include spacious layouts, floor-to-ceiling glass walls, kitchens with granite and stainless steel finishes, tall ceiling heights, ultra-high-speed Internet access, TV monitors in elevators, 24-hour concierge services and a prominent lobby featuring a virtual art gallery that digitally displays art on lobby plasma screens. 360 will also offer a resort-style amenity deck, complete with a full-sized pool that features an outdoor living room with a fireplace, cabanas and outdoor grills; an upscale fitness center with advanced cardio equipment with West Austin views; a social center that includes a kitchen, Internet kiosks, and a plush entertainment area featuring plasma screen TVs; and lush landscaping. "We believe this development will be a fitting complement to the other urban-living experiences in Downtown Austin," said John Long, Executive Vice President of Novare Group. "Our goal is to develop a stunning tower with exceptional views, comfortable yet elegant living spaces, ample parking and great technology, all at attainable prices." The project is located on property that is currently an abandoned parking lot in the southwest area of downtown at Nueces and Third streets adjacent to Austin Music Hall, La Zona Rosa, and the new home of Ballet Austin. The site was once slated to become a parking garage by Intel Corp. Developers, and architects plan for 360 to include approximately 15,000 square feet of street-level retail space, including room for a restaurant. 360 will anchor a growing area of downtown with walking proximity to popular amenities and retailers such as the Town Lake and Shoal Creek hike and bike trails, Whole Foods Market, BookPeople, the Warehouse District, the Second Street retail district, the Austin Music Hall, La Zona Rosa and Austin City Hall, plus the future Lance Armstrong Bikeway, commuter rail and the Seaholm development. As a landmark addition to the city's skyline, Novare-Andrews Urban will market the one- and two-bedroom condominiums to buyers at prices more attainable than current offerings within Austin's burgeoning urban core. Novare-Andrews Urban anticipates pricing for a one-bedroom unit starting under $200,000 and for a two-bedroom unit starting under $300,000. Although developers are not taking reservations from buyers, sales for 360 are scheduled to begin in the third quarter of 2006 with occupancy anticipated for the fourth quarter of 2007. Novare Group, one of the leading high-rise real estate development firms in the Southeast U.S., announced with Andrews Urban that it would enter the Austin market in August 2005 and has since received support for the development from organizations ranging from the Austin Zoning and Platting Commission and the Downtown Austin Alliance to the Austin Parks Foundation and the Austin Neighborhoods Council. "Austin is a smart, energetic and popular community with a unique downtown. You could look a long time and not find a more compelling urban residential opportunity," said Novare Group President Jim Borders. "When Taylor brought this project to us, we quickly became excited with the opportunity. We are very fortunate to be teaming with him and to be developing in Austin." Novare Group has built a strong track record in the development of new residential high-rise communities and mixed-use projects, selecting locations that foster urban living in several U.S. city centers. The company develops condominiums with amenities and features that appeal to urban homebuyers at attractive price points, typically starting under $200,000. Novare Group has similar projects in development in Atlanta, Charlotte, Nashville and Tampa. "Novare and Andrews Urban are transforming an abandoned location into a magnificent example of urban infill," said Austin Mayor Will Wynn. "This location is properly zoned away from single-family neighborhoods and outside any Capitol View Corridor. The City has built the foundation for an active downtown where Austinites can live, work and play, and we're pleased to see companies build the structures that will exceed the growing demands for more attainable living in the area." "For years we have worked to make downtown ideal for living - not just for working," said former Austin Mayor and current Greater Austin Chamber of Commerce Chair Kirk Watson. "This project is a significant boost toward densities ideal for a vibrant 24/7 central Austin."
About Novare Group
About Andrews Urban |
