Enso just announced special “pre-opening” pricing on several units to entice potential buyers. All of the units are either one-bedroom or one-bedroom plus den that are now being offered between $350,000 to $499,000. With the homes ranging in size from 687 to 979 square feet, that’s around $500 per square foot. The pricing is available to purchases under contract by May 22, 2009.
#504 – $350,000
#1004 – $375,000
#1304 – $385,000
#710 – $435,000
#910 – $445,000
#1310 – $474,000
#1009 – $485,000
#1309 – $499,000
Additionally, Vulcan is offering a few other incentives – up to $8,500 in closing costs, no homeowner dues until December 2010 and will donate $500 to a SLU non-profit organization in the buyer’s name.
Vulcan sent an update letter to Enso buyers a few days ago notifying them about the special incentive they’re implementing in order to facilitate more sales. My guess is that Enso will need to conform to FNMA’s 70% presold requirement and this is a push to get them there. Vulcan did reiterate its commitment to its top-tier condo development and is aiming for the temporary certificate of occupancy by May 25th.
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March 19th, 2009 at 6:03 pm
Would it kill Enso to update their website? The last update was Summer, and it’s a broken link.
If you didn’t look closely, you would assume this project was dead in the water as opposed to getting ready to finish.
March 19th, 2009 at 7:41 pm
What were the prices before? How much of a drop?
March 19th, 2009 at 8:03 pm
Vulcan won’t divulge prior pricing but I’ve heard from a credible source it’s about 20%. But, I can’t confirm it.
I just looked at my May 2006 posting on Enso and the lower-level one-bedrooms started in the low-$400s and the upper-level one+den started in the high-$500s. I’m not sure how much prices have fluctuated in the meantime, but that puts it around 20% when compared to its initial 2006 pricing. Keep in mind, these are not permanent reductions.
March 19th, 2009 at 11:10 pm
None of these really have a den. the x10 series has a very large entry way that you could put a desk in if you really wanted. The x01 floor plans are the 1bd + den ones.
Also, Enso dues are stupidly high at $.72/sqft! So unit 710 would cost you $637/month! 18 months of no home-owners dues is 11k in savings.
March 20th, 2009 at 8:29 am
Ok, so I found some previous pricing:
#504 -$460,000
#710 -$585,000
#1304 -$525,000
This means that the total “savings” on #1304 is…. $170,000.
March 21st, 2009 at 9:51 pm
So…. that looks like up to 25% in price reductions. Wow…