Riverfront Waco

3,345 Views | 11 Replies | Last: 5 mo ago by Franko
Coke Bear
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Does anyone have info or a contact about Riverfront Waco?

My BIL would like to buy one of the condos. I've signed up for the info and waiting for their response.
Boernebear
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These are all multifamily rentals in the current phase, not for sale condos to my knowledge. Future phases could include condos, but as of now, I'm not aware of any new build condos underway downtown.

There are some existing condo projects that are discussed in other threads here - Kress, Altura, Behrens Lofts, Austin Ave Flats, etc. That said, it's fairly rare that these come up for resale and when they do, they often trade off market.
Twitter: @BoerneBear | #SicEm
Coke Bear
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Boernebear said:

There are some existing condo projects that are discussed in other threads here - Kress, Altura, Behrens Lofts, Austin Ave Flats, etc. That said, it's fairly rare that these come up for resale and when they do, they often trade off market.
Thanks for the heads up! If Riverfront hasn't built any condos by the time he's ready to pull the trigger, he may have to discretely and respectfully approach some owners about selling.

When my in-laws lived in Castle Heights area during the 70's thru '00's, they didn't see too many realtor signs. Homes in that area were often sold like that.

That said, if anyone knows of someone wanting to sell and avoid the realtor fees, please PM me.
Boernebear
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Will let you know if I hear of any becoming available. I have a loft at Kress, and I'm not aware of anyone selling anytime soon (there's only 4 units). Behrens has been converting previous multifamily rental units to condos and at least last year had some availability. Some of these went through the realtor MLS system but I haven't seen any on there for probably 12 months, so not sure if they are sold out, selling off market or stopped converting units.

Generally speaking, for 2-3 bedroom units between 1k and 2k sf downtown, prices are in the $400's to $700's depending on the finish out and overall quality of the building. Understanding the parking situation is important along with the condo association dues, as each building is different.

Good luck!
Twitter: @BoerneBear | #SicEm
GoBearsGo
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We are starting to really think about a place in Waco. Our son is a senior in HS this year. I'd like to find something for the wife and I to come and visit and go eat/games etc.

If we could airbnb while we are not using it even better, but not 100% needed.
Franko
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GoBearsGo said:

We are starting to really think about a place in Waco. Our son is a senior in HS this year. I'd like to find something for the wife and I to come and visit and go eat/games etc.

If we could airbnb while we are not using it even better, but not 100% needed.


If you want to use it as a short term rental, make sure it's in a zoning district where they are permitted. Below is a link showing the zoning districts where STRs are allowed. Don't buy in a district where a special permit is required because my understanding is that Waco is not approving any special permits right now because they want to attract hotels. Also, even where STRs are permitted, they can't be within 500 feet of another STR.

https://www.waco-texas.com/pdf/planning/STR%20district%20table%206-28-21.pdf

Here's where you can see if there are any STRs within 500 feet of a property you are looking to buy:

https://gis.wacotx.gov/portal/apps/webappviewer/index.html?id=1cf9b31028c74cbcb8d4bc76bd797360



Boernebear
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Plus if someone is considering using a loft/condo as a short term rental, that is often prohibited within the deed restrictions for the project. Good idea to understand that thoroughly before making a decision and assuming you can rent it out.
Twitter: @BoerneBear | #SicEm
Leonidas
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Wondering if anyone has gotten information on the Riverfront apartments yet. I also see Austin Ave. Flats is converting to condos under the name "The Balconies Downtown". Any idea about that location?
Coke Bear
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Leonidas said:

Wondering if anyone has gotten information on the Riverfront apartments yet. I also see Austin Ave. Flats is converting to condos under the name "The Balconies Downtown". Any idea about that location?

We're working with a realtor with The Balcones project. When he gets us the info, I'll pass it on.
Brian Ethridge
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Staff
Hearing a couple more in planning.
FirmBear24
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Franko said:

GoBearsGo said:

We are starting to really think about a place in Waco. Our son is a senior in HS this year. I'd like to find something for the wife and I to come and visit and go eat/games etc.

If we could airbnb while we are not using it even better, but not 100% needed.


If you want to use it as a short term rental, make sure it's in a zoning district where they are permitted. Below is a link showing the zoning districts where STRs are allowed. Don't buy in a district where a special permit is required because my understanding is that Waco is not approving any special permits right now because they want to attract hotels. Also, even where STRs are permitted, they can't be within 500 feet of another STR.

https://www.waco-texas.com/pdf/planning/STR%20district%20table%206-28-21.pdf

Here's where you can see if there are any STRs within 500 feet of a property you are looking to buy:

https://gis.wacotx.gov/portal/apps/webappviewer/index.html?id=1cf9b31028c74cbcb8d4bc76bd797360






The STRs are very contentious at council meetings. Anyone thinking about buying property in East Waco or near downtown with the idea of getting a STR permit should reconsider. The lack of affordable housing also hurts those wanting to get a STR permit.
Franko
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FirmBear24 said:

Franko said:

GoBearsGo said:

We are starting to really think about a place in Waco. Our son is a senior in HS this year. I'd like to find something for the wife and I to come and visit and go eat/games etc.

If we could airbnb while we are not using it even better, but not 100% needed.


If you want to use it as a short term rental, make sure it's in a zoning district where they are permitted. Below is a link showing the zoning districts where STRs are allowed. Don't buy in a district where a special permit is required because my understanding is that Waco is not approving any special permits right now because they want to attract hotels. Also, even where STRs are permitted, they can't be within 500 feet of another STR.

https://www.waco-texas.com/pdf/planning/STR%20district%20table%206-28-21.pdf

Here's where you can see if there are any STRs within 500 feet of a property you are looking to buy:

https://gis.wacotx.gov/portal/apps/webappviewer/index.html?id=1cf9b31028c74cbcb8d4bc76bd797360






The STRs are very contentious at council meetings. Anyone thinking about buying property in East Waco or near downtown with the idea of getting a STR permit should reconsider. The lack of affordable housing also hurts those wanting to get a STR permit.


Yes, it's a big ordeal. Quite daunting actually. I have taken a dilapidated house and turned it into a great place for people to enjoy by coming to Waco. But aside from the zoning issues, the constant inspections and bureaucratic hoops we have to jump through are challenging to say the least. I understand there are some NIMBY and hotel issues with STRs, but cleaning up areas adjacent to the downtown district would seem to be worthwhile.
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