A condo is a great purchase for many people who want to own a home, but don’t want the hassles, upkeep and maintenance that go along with owning a single-family home.
When shopping for an Adkins condo, it is important, because they are quite different from a single-family home, to consider a number of things:
- HOA Fees – When purchasing a condo, you will likely pay HOA (homeowners association) fees. These fees, which are usually paid on a monthly or quarterly basis, are fees paid for maintaining and updating the property in which the condo is located and for amenities and services offered by the building. HOA fees may cover everything from landscaping and building repair to the cost of hiring security, valet staff or pool cleaners. When purchasing a condo, ask to see the history of HOA fees so you can determine how often they are raised.
- Location – Most condo homebuyers choose condos because of their urban location. In fact, you will find that most condo buildings are either located close to the city or near public transportation or a major roadway to help individuals get in and out of the city. Therefore, it is important to consider the location of the condo and the distance from locations most important to you, such as your work, the grocery store or your children’s school.
- Privacy – One of the downsides of purchasing a condo is the lack of privacy. However, today’s condos are often built and designed with privacy in mind, so pay close attention to the location of the condo and the noise you can hear when inside the home. In addition, it may also be a good idea to ask neighbors if they experience any noise problems.
- Amenities/Features – Sometimes the best part of living in a condo are the amenities and services that come along with it. Although you will certainly pay more in HOA fees according to the amenities and services offered, many condo owners are more than willing to pay the price for these key features, which may include: a swimming pool; valet parking; courier services; business centers; and party rooms, just to name a few.
The Alamo city does have a few high rise options dotting the skyline, but this is one place that is more into rentals due to the tourist trade than selling. There are however some developers who have create four very upscale high-rise condominiums for those who enjoy a more Metropolitan lifestyle. People usually get their first taste of what high rise living is like on television, and the movies. Places like Manhattan, New York, and Chicago Illinois have been setting the standard for this opulent lifestyle, but they are available in every major city in the United States.
Usually people want to enjoy a taste of resort living, with that five star hotel ambiance throw in for good measure will be the perfect buyer of these steel, and glass-encased homes. Even though a condo on the twentieth floor will not offer the standard fare a single family home will, the costs are much higher, due to the upkeep, and of course downtown real estate is always at a premium in most large cities.
The prestige of having a twenty-four hour doorman, concierge service, and complete business center, plus around the clock fitness spa are just a few of the amenities that high rise dwellers look for when shopping for a new condo. There are basically four major San Antonio high rise options
- Vidorra Condos
- Alteza Condos
- La Cascada
- The Broadway
They all offer a unique decor, and themes, but the one common thread is a luxurious lifestyle that only the few can afford, while the many dream of when driving by the buildings themselves. It gives some homeowners the satisfaction of feeling they have finally made it to the big leagues, and their home is an iconic display of accomplishment.
There is of course a slight dip in every real estate market currently, but with the lack of competition in this exacting niche of home purchasing do not expect a huge break in pricing. High-rise living is not for everyone, and a testing period should be considered before signing on a new mortgage for such an extravagant purchase. Leasing a condo for six months in the preferred building you are looking make your purchase should give a sense of if this is the best fit for you and your family.
When planning your future housing budget for a purchase of this magnitude, be sure and speak with management about all the monthly and annual fees that might not be mentioned up front, as they can range in the several hundred dollars per month.
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This is where the downtown San Antonio condo market, along with the revitalization of the downtown area, was discussed by a number of city and business leaders. The main focus of the Downtown Alliance’s annual downtown luncheon was to discuss ways in which downtown San Antonio can become a more livable and workable community. And, as always, there are challenges that must be met head-on in this quest.
Condo Financing Problems still Exist
One of the current problems discussed at the annual luncheon includes obtaining financing for downtown condos. The downtown San Antonio market has long been plagued by the fact that financing is hard to come by and the office market in the city’s center is outdated. However, the meeting also noted that apartment rentals in the downtown area are up, and the entertainment sector has been helped along, thanks to upgrades in various facilities around the area.
Office Market Struggling
The city and business leaders agree that more downtown residents and a boost in the downtown San Antonio condo market are essential to boost the outdated office market and the city center. However, in order to accomplish this, individuals need to be able to obtain financing from Freddie Mac and Fannie Mae which, at the present, just isn’t happening. And that means a longer turnaround for the near-obsolete office space market which, at this time, is classified as a C, making as much as 40 percent of it functionally obsolete.
Because of these problems, there is still a large portion of the downtown office market that just isn’t being leased.
The challenges with downtown San Antonio’s condo market may be best summed up by David Adelman, a partner at Cross & Company who, at the annual luncheon said, “Housing will lead then everything else will follow.”
There are currently about 3,000 residential units in the downtown San Antonio condo market; Adelman notes that a goal of 10,000 units should be set.
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New, exciting, and interactive websites for downtown San Antonio condos are the norm for today’s condo developers. They know that their buyers are usually San Antonio professionals who must maximize their time, even when it comes to shopping for downtown San Antonio condos.
Exciting Websites Highlight Downtown Condos
As a result, a new breed of website is popping up for many of the downtown San Antonio properties, exciting condo developers and grabbing the interest of downtown San Antonio condo buyers everywhere.
The Redesign of Alteza’s Website
A great example of today’s newest real estate websites is the Alteza website. The beautiful, luxurious residences of Alteza, which sit atop the Grand Hyatt Hotel in San Antonio, recently got their own interactive real estate website through DemandGen Partners, a real estate marketing automation and lead generation firm. DemandGen Partners, because of its history of excellence in real estate marketing, demand generation, CRM and marketing automation, was the obvious choice when it came to transforming Alteza’s website.
As a result, the look and design of Alteza’s website is decidedly chic and exciting. Some of the new features found on Alteza’s newly designed website include interactive floor plans, photo galleries and, of course, virtual tours, which show off the extraordinary views from atop the residences of Alteza.
In addition, Alteza’s website also includes a Google Earth feature, which helps visitors locate Alteza, as well as nearby shops, restaurants, entertainment venues and businesses.
Finally, the Alteza’s new website also features an updated blog, thereby allowing homebuyers and homeowners to stay abreast of news as it relates to Alteza and downtown San Antonio. Potential buyers may also view the Guide to Buying and Living in Downtown San Antonio publication on the website, and they may also fill out simple forms that will allow them to schedule discovery visits and tours.
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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.
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There are plenty of fantastic downtown San Antonio condos from which to choose. And, let’s face it, one is better than the other in terms of amenities, service and features.
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.
The beautiful new condo community of Vidorra has enjoyed great success, even amidst the fumbling economy and housing slump.
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.
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Downtown San Antonio has its share of beautiful condominiums. However, every once in a while a residence comes along that simply exceeds expectations.
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.
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Downtown San Antonio condos are about to have a brand new addition: 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.
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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.
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