With only 27 developer owned condos remaining in the 332 unit Encore development, pricing and incentives are being offered to sell the building out by mid-year.
The only high-rise condo project in SoBro (south of Broadway district), the Encore is now almost 92% sold out with a few choice one and two bedroom condos remaining. Strategically, the developers did themselves a great service by leaving several condos available on higher floors that feature excellent views of Titans Stadium, the Cumberland River and the downtown skyline. With FHA condo financing available to buyers, prices near their lowest levels since opening in 2008 and quite a few incentives available, I suspect the Encore will sellout by the end of summer 2011.
Encore Condo Sellout Incentives
1 parking space per bedroom
Hardwoods added to the hallway and living rooms to match kitchen hardwoods
All appliances including the refrigerator, washer and dryer (value $2,700)
$2,000 California closets credit
$4,000 seller paid closing costs
6 months of seller paid HOA dues