FAQ

The Modern Austin Residences will have 300 market-rate homes.

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Follow us on social media for the most up-to-date information (@themodernaustin on Instagram and Facebook), and be sure to fill out the registration form on this website. A member of our sales team will reach out within 24 hours.

The Modern Austin Residences public sales process began in March 2022. Limited residences are still available.

Yes, your Modern Sales Team Member will be able to walk you through the whole process virtually, should that be your preference.

The Modern came to market with a wide price range starting in the $500s ranging to $5M+. Our pricing is dynamic, and as floor plans sell, we will be raising our prices to align with market demands.

We began writing contracts for the public in March.

• To receive a contract appointment, you must have already met with a sales team member.
• Give your sales team member a pre-qual letter from one of our preferred lenders, show proof of funds, or a letter from your financial advisor for the price range of the floor plans you are interested in.

Earnest money payments will be broken down into two payments.

• At contract signing, you will pay 5% of the base purchase price
• 180 days after contract signing, you will pay an additional 5%
• Both owner-occupied homes and Investor homes will pay 10%
• Earnest Money payments will be held in escrow by Heritage Title Company until closing.

No, all pricing and contract details are as is and will not be modified.

Yes, there will be a 35% investor cap.

Those who buy as an investor will receive a leasing permit and be able to lease their residences. There will be an additional fee associated with receiving a leasing permit; please contact your sales team member for more information.

No, we have a 6-month lease requirement within the building.

• We will have 20 affordable housing residences in the building for purchase. 17 one-bedroom, 2 two bedrooms, and a 3 bedroom. These will be sold closer to the completion of the building in late 2024 / early 2025.
• Qualifications will be based on 80% of Austin’s Median Family Income.
• MFI is recalculated by the City every summer. For the current MFI chart, click HERE
• For those interested in affordable housing residences, please indicate your interest on your online inquiry form or when speaking with a sales team member. We will reach out to those interested parties closer to the completion date of the building in late 2024 / early 2025. We will be sending you updates on building progress via our monthly newsletters.

Our estimated HOA fees in today's dollars are $0.65 per sqft. We forecast them to be $0.71 per sqft when the building delivers in 2025.

Yes, Urbanspace Real Estate is composed of Real Estate Agents themselves. We are happy to work with your Buyer’s Agent but ask that they be there at your initial meeting as well as your contract appointment.

Yes, our accessible homes are designated with a “-A” after the floor plan name.