Condo sales are brisk at The Independent, the downtown Austin tower that will be the city's tallest building when it is completed in 2018. Nine months after work started on the high-rise that will overlook Lady Bird Lake, new renderings and details of sales activity have been released. A spokeswoman said Monday more than 55 percent of the 370 residences are under contract and only a small number of one-bedroom units remain. Prices for the one to four-bedroom units range from the low $400,000s to more than $3 million. The 58-story building is being developed by a joint venture that includes Aspen Heights Partners and Constructive Ventures, both of Austin, with CIM Group of Los Angeles as a primary investor. The on-schedule construction is good news for Aspen Heights, which has already experienced a banner year. The company, which started in 2006 with a focus mostly on student housing, announced $110 million in new financing in August as it expands around the country. This summer CEO Greg Henry was named an EY Entrepreneur Of The Year.

Source: Austin Business Journal