Union Street Station is a unique building ahead of its time when it was built in 2000.

Some of the finest restaurants and greatest boutiques in Gainesville are found on the ground floor. The second floor is cluttered with office space… Many suits pass thru these halls on a daily basis.

The third and fourth floors are only for the residents. This area is secured and unless you have a pass code or key, you wont be entering  this area. The large central courtyard is a nice space to relax, get to know your neighbors, and cook up a storm on the community grill.

Real Estate Market Update

There is one condo available for sale as of this writing. It is a smaller condo – 998 sq ft. They are asking $187,000. This comes out to approx. $187/ sq ft. It has been on the market for 131 days.These are all condos, some are 1 story and most are 2 story.

There is another townhome that went under contract recently waiting for the process to close. It is approx 1831 sq ft. They were asking $219,000. We wont know the sold price until after it is closed. It was only on the market 79 days before it went under contract. The asking price per sq ft was $119.

There were 2 that closed since June 1 of this year. They were 1107 and 1823 sq ft. They closed out at $173,000 and $205,000. They sat on the market 47 and 337 days before going under contract. And their price per square foot is $156 and $112.

Vital Center of Gainesville

The best part of living here, is not that you get to watch all the activity below nor that  the Hippodrome is so close… It is that you can get a buzzer from your favorite restaurant and take it back to your home while you wait for a table.  It will buzz right there in your condo.  Imagine – no more standing in line with the rest of us.

Click here for a virtual Neighborhood Tour.

Click for condos for sale at Union Street Station

When the housing market took a turn downward,  it seemed that condo developments got hit the worst. FHA changed their requirements for funding loans. If there were too many  investors  or too many businesses within the development the government agencies would not back any loans.

Union Street Station was among those developments. Because the lower two floors are business and office space it has been very difficult for any buyer who was looking to finance a condo purchase.  This resulted in an overflow of inventory and caused the pricing to drop.

At this time there are two condo’s for sale in the MLS system, a one floor condo and a townhouse.  The last sale happened in August of 2010.  Prices were above $300,000 during the peak of the market, and now the condos are listed near the $200,000 mark.

Here in Gainesville, Shands just sent out acceptance letters for next year’s medical residents.  Congratulations for those of you who were accepted!

Relax

One of the million things you have to do before starting work is find a place to live.  Most residents want a home near Shands. You know you’ll be busy and don’t want headaches so you want something that doesn’t require much maintenance. You also want a home that isn’t too expensive (you’re still paying off student loans) but in a safe & clean neighborhood.

Places to live in Gainesville

Here is a list of places to live in Gainesville that other residents liked.  These neighborhoods have many homes available between $200,000 and $300,000 – and they are conveniently located.



View Communities in Alachua County in a larger map

SW Gainesville & Archer Road

Shands, UF, and the VA hospital are all on SW Archer road and very close to each other.  There are several communities along Archer Road that are within a 30 min drive during rush hour which are popular with residents.

Hickory Forest

Market Update
This community was built in the late 1990′s and is generally made up of 1-story frame homes with great room and split-bedroom floor plans.
Homes for Sale in Hickory Forest

Haile Plantation

Market Update
Started in the mid-1980′s there are still a few lots being built on in Haile. There are around 1,000 homes but they are tucked away into smaller sub-sections that each have their own personality. The heart of Haile is The Village Center and the Golf & Country Club.
Homes for Sale in Haile Plantation

Longleaf

Market Update
This is a new community, with 4 phases planned it is half way through development. The beach-entry pool and 24 hr fitness center are highlights here. Also – the monthly fees include front yard maintenance – so you don’t need to worry a lot about mowing! It is developed by Robinshore and Tommy Williams.
Homes for Sale in Longleaf

NW Gainesville

There are some areas in NW Gainesville with easy communtes along I-75 that are less expensive to buy in.

Ellis Park

Market Update
Ellis Park is a relatively new neighborhood being developed by Robinshore. Phase 2 is under construction now.
Homes for sale in Ellis Park

Broadmoor

Market Update
This neighborhood was built in the 1990′s and has been completed for years. The homes are +/- 2000 sqft and prices range from $200k to $300k for the most part.
Homes for Sale in Broadmoor

Downtown

There are also condos in downtown Gainesville with more to do nearby them that are much closer to Shands / UF and prices have come down to make them more affordable for a resident’s salary.

Union Street Station

Market Update

Condos For Sale at Union Street Station

This condo community is in the heart of downtown. Many people affiliated with the University of Florida live here and bike to campus or Shands. There are also many professionals who work in the courthouse and nearby legal offices who live here.

On the ground floor there are shops and restaurants, the second floor houses offices, and the top three floors are condos.  There is a private interior courtyard for the residents. The security system controls access to the elevators on the ground floor and the parking garage on the third floor.

Living here is about privacy, convenience, and being in the center of the action (such as it is) in Gainesville.

Things to do in Gainesville

Todo in Gainesville

http://www.we-promise.com/todogvl.php

Living in Gainesville

http://www.gainesvilletoday.com/2007/03/1431/Adam_Bolton:_10_Things_I_Love_About_Gainesville/

For Sale at Union Street Station

Condos for Sale

There are 2 condos for sale right now in Union Street Station.  They range from $265,000 for 1,107 sqft to $299,000 for 1,823 sqft.
($239/sqft and $164/sqft respectively)

To see all the specifics on the condos for sale now just click on the photo.

Recent Activity

One condo sold already in 2009.  It sold at a large discount compared to sales in 2008 and it was only on the market for one day.  It is hard to know what prompted the reduced list price, there are no photos available and it was sold too fast to get inside for a viewing.

Maybe someone living at USS has insight that they will share with the rest of us?

3 bedroom / 3 bath; 1,794 sqft; closed 2/17/09 for $255,000 ($142/sqft)

Prices

Market stats for Union Street Station - click for larger image

There have only been two sales a year in the last few years, so it is difficult to make any generalizations about how well USS is holding it’s value.  In 2008 sales averaged $245,000 ($176/sqft) and in 2007 they averaged $267,000 ($199/sqft).

It’s important to know that there were about 5 condos listed in 2008 and two of them sold, and in 2007 there were only 4 that didn’t sell. The condos that didn’t sell in 2008 came onto the market asking apx $315,000 ($232/sqft), were on the market for 277 days, and were asking $285,000 ($213/sqft) when they gave up.

Union Street Station has seen about a 16% drop in sale prices since the peak in 2006.  The biggest difference that the market slow down has made is the number of days it takes to sell a condo here – 385 for USS condos that closed in 2008.

Other Luxury Condos

For comparison I thought you would like to see how the Gainesville upscale condo market as a whole has been performing.

Prices for other luxury condos around Gainesville have traditionally been lower overall and less expensive per square foot, but they have had a lot more activity.  The condo market in Gainesville had a construction & sales boom and is now experiencing a drastic slow-down.

Market stats for Gainesville Luxury Condos - click for larger image

If you would like information grouped in another manner feel free to contact us!