slow progress

For a while, 2007 seemed like the year of the downtown Austin condo project. Since last August, however, the market has changed.

While most of the projects coming on the market in 2008 are sold out and many of the others are proceeding smoothly, at least three early stage projects for 2009 and beyond seem to have stalled.

As a result of slow progress, we have moved three projects into the pending stage until we receive clear confirmation that they are proceeding -- or if not -- that they have been postponed or cancelled.

The delayed projects are: