As with any property purchase, the newer and more upscale condos in the choicest neighborhoods, featuring the best views, oversized balconies, granite countertops, top-of-the line appliances, etc., can demand the highest prices, ranging from the $400,000s to even a million $ and up.

However, many older more modestly priced San Antonio hi-rise condos can be found in the $100,000 and even less price range.

Purchasing a San Antonio High-Rise Condo

With such a wide choice in pricing, location and availability, purchasing or leasing a San Antonio High-Rise condo can be a daunting and confusing undertaking without the aid of an experienced real estate agent with expertise in this unique housing market.

A competent Realtor who understands your lifestyle and budgetary requirements has the resources to efficiently identify the available properties that would most fit your needs.

It is a certainty that as the economy slowly improves, San Antonio will continue to be one of the fastest growing cities in the U.S. and the need for housing will increase. As a result, purchasing a San Antonio High-Rise condo as a rental property or primary residence might be a pretty good idea at this time while purchase prices are still quite competitive and the available inventory is high.

Along with owning downtown San Antonio condos, many condo owners belong to condo associations. Many higher end properties have condo associations in place for their residents, thereby allowing the building and its residents to pay someone to manage and care for the property.

If you are interested in purchasing one of the downtown San Antonio condos, you may wonder what exactly is involved with belonging to a condo association. Here are just some of the advantages of owning a property that is managed through a condo association:

• A condo association takes the pressure off of maintaining and repairing the building and its common grounds. Instead, residents of downtown San Antonio condos that are under a condo association enjoy the convenience of leaving all of the building maintenance and upkeep to the professionals.
• A condo association can work in one of two ways: it can be professionally managed by a cooperative of owners associations or it can be managed by the resident, who simply reports any issues to the condo association.
• A condo association enforces the rules and bylaws of the condo community or building, thereby maintaining property values and the enjoyment of all the residents.
• A condo association can increase your property’s value, as buyers will appreciate the value of a professional organization maintaining the property.
• A condo association provides consistent and professional service for everything related to the building and common grounds. From the community swimming pool to the landscaped grounds, a condo association ensures that all aspects of the condo community or building are taken care of, thereby allowing residents to lead a truly maintenance-free lifestyle.
• A condo association may provide an added sense of security, as it will enforce all bylaws of the condo association, thereby eliminating potential problems before they begin.
• A condo association because it sets rules and creates a high standard for the community in which it is located, the property values remain high and the residents enjoy the benefits of a beautiful condominium community.

Although one cannot dispute the many perks of living in this beautiful high-rise building, the developers of Vidorra also credit the success of the development to the partnership with Wells Fargo Home Mortgage. Wells Fargo Home Mortgage obtained approval for the joint venture just prior to Vidorra’s completion last year, thereby allowing buyers to receive competitive market rates, backed by one of the country’s largest banks.

Because condo buyers generally have a harder time obtaining financing for condominiums, this partnership with Wells Fargo home mortgage allowed many of the condo’s buyers to receive financing at very competitive rates.

In addition, the completion of the Vidorra project just happened to coincide with all of the problems in the real estate industry. Other condo projects at the time experienced a huge decline in their numbers because of this; however, Vidorra, with the backing of a very strong banking institution, allowed the developers to close homes with market rate loans.

In fact, with Wells Fargo Home Mortgage’s help, the Vidorra developers were able to close on many homes as soon as they received the certificate of occupancy. As a result, more than 70 percent of the homes of Vidorra are occupied.

The Vidorra Lifestyle

Vidorra is a 20-story, $60 million high-rise near San Antonio’s Sunset Station. This development includes 146 condos and six townhomes, all of which enjoy a number of excellent amenities and features.

Homes of Vidorra range from 1,000 to 3,866 square feet and there are about 15 floor plans from which to choose. Just some of the amenities afforded to the residents of Vidorra include: 24-hour concierge; a resort-style swimming pool and spa; a state-of-the-art fitness center; a well-equipped business center; a secured parking garage; and guest suites.

Vidorra has become a popular condominium building for many San Antonio residents, including empty nesters and military personnel. Homes of Vidorra start at about $255,000. There area also two penthouses in the building.

Meet the Broadway: one of downtown San Antonio’s premier condominium buildings.

Located in the heart of downtown San Antonio, the Broadway enjoys a fabulous proximity to the opportunities and excitement of San Antonio, including major companies, excellent dining and entertainment, and world-class shopping, just to name a few.

This 22-story high-rise, although located in the city, bucks the trends by surrounding itself with beautiful, lush gardens and historic buildings. Upon entering the premises, guests and residents will enjoy covered verandas surrounded by picturesque, tropical gardens. Adding to the property’s resort-like feel is the resort-style swimming pool and the outdoor spas. Cozy up near the outdoor fireplace and talk with friends in the large gathering area; all the while enjoying the fantastic sight of San Antonio’s skyline.

The interior of the Broadway is just as opulent as its exterior, as homes in this building boast such features as:

• Ten to 14-foot ceilings in all living areas
• Gourmet kitchens with granite and natural stone countertops, built-in wine coolers and stainless steel Miele appliances
• Expansive, private balconies with sweeping views of San Antonio
• Twelve floor plans including a penthouse unit
• Floor-to-ceiling windows
• Imported hardwood flooring
• Walk-in closets

The community features are impressive, to say the least, as they include:

• Secured, staffed lobby monitored 24/7
• A private resident clubroom
• A bar and lounge area
• Spa services
• State-of-the-art fitness center
• Yoga studio

Homes of the Broadway range from one to three bedrooms and are priced from $500,000. Homes range from 1,262 to 5,841 square feet.

From the beautiful architecture to the unsurpassed location, the Broadway has become a beacon among San Antonio’s dynamic, downtown skyline. Professionals will enjoy its close proximity to business and industry, while families will enjoy the nearly endless supply of surrounding arts, entertainment and dining choices. One thing is for certain, however: there is no better place for the discriminating buyer than the Broadway.

The Broadway, which will be the newest in downtown San Antonio condos, is the brainchild of Koontz McCombs, who envisioned a lifestyle development that features only the highest standard of living. To further highlight his vision of the Broadway, there are now two model units open that clearly reflect the vision of this project.

Koontz McCombs has worked alongside the Baxter Design Group to bring these model units to fruition. As a result, the interior finish selections of the completed models “will set a new standard of fine living in San Antonio,” according to Bart Koontz, CEO of Koontz McCombs.

A Service-Oriented Experience

The Broadway, which is located at Broadway Street and Hildebrand Avenue in downtown San Antonio, is still under construction and due to open this summer. The Broadway has more to offer than other downtown San Antonio condos, though, as it offers a “service-oriented living experience” like one would expect at one of the world’s finest hotels. As such, the Broadway has developed many unique partnerships like Nieman Marcus and Mercedes Benz of Boerne.

These partnerships will allow residents of the Broadway to receive only the best services, including everything from lifestyle, retail and premium automotive services. The overall goal of Koontz McCombs is to provide resident-only services that afford residents with the ultimate in customer conveniences.

The Broadway, once opened, will clearly reflect a higher-end market, although instead of flaunting wealth, the Broadway will instead reflect today’s shift in values of living well, without the pomp and circumstance involved.

Model Homes now Open

The two models – one is the 1,262-square-foot Astor and the other is the 2,356-square-foot Gershwin – will allow buyers to envision what their condominium may look like in the Broadway.

The Astor, which features one bedroom and one and a half bathrooms, is ideal for single professionals or young couples, while the Gershwin will be aimed at families or those seeking a larger condominium home.

The Broadway, once completed, will feature 20 stories and 90 residences, all of which are situated on nearly two and a half acres. Homes will range from one to three bedrooms and penthouse suites are also available.

Case in Point: the historic Peden Iron & Steel Building has been transformed into highly sought after downtown lofts: the Steel House Lofts. This newest downtown San Antonio address is slated for completion in winter 2010.

Beautiful Warehouse Conversion

The original charm is alive and well in the Steel House Lofts, as the transformation from warehouse space to trendy, downtown San Antonio lofts is flawless.  The contemporary attitude and vibrant flair of the Steel House Lofts just confirms the vision of downtown San Antonio condos as being the ultimate in luxury and modern cool.

Outstanding Loft Features

Some of the warehouse design concepts of the Steel House Lots include open-plan living spaces, towering, clerestory windows, exposed concrete beams and architecturally interesting columns. Soft, interior colors and beautiful finishes pair nicely with the striking architecture, thereby creating subtle, eye-pleasing interior living and working spaces.

All of the flats and lofts of Steel House Lofts are nicely equipped with contemporary kitchens and bathrooms, and are all wired for the best technology and entertainment systems.

Unsurpassed Building Amenities

The building amenities of the Steel House Lofts are conducive to the luxury level of living that downtown residents have come to expect. Building amenities include: a beautiful courtyard entrance; private yards with covered docks; controlled access parking; and an expansive, outdoor entertainment area, complete with a lap pool.

There is certainly no living like downtown San Antonio living, and certainly no better way to live in San Antonio than in a fabulous condo home. Steel House Lofts fit the bill nicely, for nearly anyone from single, career-minded professionals to empty nesters looking for excitement and luxury in downtown San Antonio.

Sitting high atop the Grand Hyatt hotel in downtown San Antonio, Alteza is a fine example of the luxurious, high-end living that is available in downtown San Antonio.

The First Residents are Welcomed

Although the Alteza has seen its share of delays – mainly because construction crews had to concentrate on the hotel construction before the Final Four in 2008 – it has now opened its doors to its first residents. The completion of the Alteza project is a huge boom for downtown San Antonio’s evolution and for the entire city in general.

For the residents of Alteza, it certainly can be said that “good things come to those who wait.”

Once completed, the Alteza will feature 147 condo homes; 19 of which will be open in a matter of days. The rest of the condos, spread out over 10 floors, are expected to be finished by spring 2010. To date, 31 condos are under contract, and activity is beginning to really pick up.

The Alteza condo development experienced challenges because of the tumbling economy and, as a result, the sales team is working to recover the many expired contracts.

The Alteza’s Unique Features

The Alteza boasts a unique hotel/condo feature that no other development does in San Antonio. Combine that with Alteza’s exclusive residences and outstanding amenities, and it’s easy to see why the Alteza development stands out from its competition.

Prices range from $298,000 to over $3 million for homes in Alteza, and most of them boast exceptional views and even more exceptional surroundings.

The sales team of Alteza feels strongly that the tough lending standards felt by many parts of the housing market probably won’t affect the sales of the condo homes of Alteza because many luxury buyers are not affected by tough lending practices.

In addition, the condo market in San Antonio is much stronger than other parts of the country, and many individuals are seeking out condos in San Antonio for second homes. In other words, the demand for San Antonio condos remains strong and resilient, despite the challenges felt by much of the housing market.

Some of the amenities and services of Alteza include:

• Controlled-access, reserved parking
• Private lobby and entrance
• Open-air swimming pool on the 32^nd floor
• Exclusive membership privileges to the Grand Hyatt fitness center
• Soaring ceilings
• Granite countertops
• Bosch and Sub-Zero appliances
• Wide-plank hardwood flooring

Long-Time Homeowners get in on the Action

The homebuyer tax credit, which was originally only targeted at new homeowners or those who hadn’t owned a home for the previous three years, now includes “long-time homeowners,” or those who have lived in their home for at least five years.

In other words, all those retirees looking to move out of their longtime home and instead settle into a downtown San Antonio condo can make out on this tax credit extension. The $8,000 tax credit still stands for new homebuyers, but another $6,500 tax credit is available for long-time homeowners.

Retirees Expected to Benefit from new Tax Credit

This is good news for retirees, and even better news for the real estate condo market of downtown San Antonio. And, luckily, most long-time homeowners have good credit, which means that they will likely be approved for a new mortgage.

There are certain limitations to the tax credit, however; homes over $800,000 do not qualify.

Benefits of the New Law

The income levels have been extended for the new tax credit, though; homebuyers can now make up to $125,000 and still remain eligible for the full tax credit (it was $75,000 under the old law). Couples applying together can make up to $225,000 jointly (it was $150,000 under the old law).

In addition, there is no stipulation in the law that states that the new home must be more expensive than the last, which is good news for retirees or for individuals simply looking to downsize.

Other individuals that will certainly benefit from the new law include military personnel, as any military personnel serving outside of the country for at least 90 days in 2009 or 2010 will be granted an extension of one year to claim the credit.

With that said, it is important to point out that there are still great deals to be had for downtown San Antonio condos. If you’re looking for an urban residence right in the middle of all of the excitement and action of San Antonio, then a downtown condo is definitely worth looking into.

Aside from being in the heart of the city, a condominium in downtown San Antonio can afford you unrivaled opportunities to experience the outstanding, colorful culture that has made San Antonio so special. From the famed River Walk to the Majestic Theater, there is certainly never a shortage of things to see, do and experience as a resident of downtown San Antonio.

A Look at downtown San Antonio Real Estate

Current estimates show the average price of a downtown San Antonio condominium hovering right around $532,000. The median price for a downtown San Antonio condo is $474,950, making the average price per square foot about $271.

Downtown San Antonio real estate can range from airy lofts to upscale condos, but what remains the same is the luxury and convenience that can be found here.

The Steel House Lofts, for example, certainly epitomize loft living in downtown San Antonio, as they feature contemporary architecture with an historic backdrop.  Located in the historic Peden Iron & Steel Building, this converted warehouse building boasts plenty of high-end features and amenities.

Luxury living is found at the nearby La Cascada, which not only boasts high-end condo homes, but a great location on the Riverwalk. A rooftop swimming pool, overlooking the beautiful, downtown skyline, is just the tip of what La Cascada has to offer.

The Broadway Condos are a great example of a fantastic, downtown location. Lush gardens surrounding the Broadway Condos provide a unique contrast against the historic buildings of the area. High-rise living in the Broadway is only further exemplified by the fantastic building amenities and services.

After years of planning, the Broadway is well on its way to becoming the hottest address in San Antonio. Luxury living in San Antonio has been brought to a phenomenal high-rise that may very well compete with some of the finest high-rises in the biggest American cities.

The Broadway boasts super luxurious luxury condominiums in the sky in a superior resort lifestyle. This exclusive address offers its residents over two and a half acres of green space, making it feel as though the building is situated in a peaceful, rural setting instead of right in the middle of the all the excitement and action of downtown San Antonio.

The resort atmosphere of the Broadway is further exemplified by the resort-style swimming pool, private gardens, and an outdoor kitchen, complete with poolside cabanas. Imagine walking the private gardens, floating quietly in the sparkling pool and relaxing poolside in a beautiful, private cabana! The Broadway rivals the finest hotels in the country, thanks to its upscale amenities and services.

Some of the fine services and amenities found at the Broadway include:

• 24-hour concierge and doorman services
• Optional chef, grocery, meal and housekeeping services
• Landscaped grounds, complete with an outdoor fireplace
• Private, underground parking (valet or self-parking)
• Media lounge
• State-of-the-art fitness center with both cardio and weight areas
• Furnished conference room
• Two, high-speed elevators for convenience and privacy
• Business center with wireless Internet service
• Beautifully decorated guest suites
• Yoga and Pilates studio