[drummer]

Vacant investment units are not at all uncommon with Chinese investors - though my knowledge of this is largely limited to China. Typically they purchase them to sell at a higher price later or look to rent them out. Other times, they purchase them (as a concrete shell) and plan to renovate them for their children or for themselves down the road (sometimes years down the road). Given that the market is so hot in Austin, I don't see them sitting empty one way or another - or at least, that's my hope. When I lived on the East Coast of China near Shanghai, there were entire buildings in my complex that sat empty, but every single unit was owned. Granted, our "complex" was about 100 buildings ranging from five to twenty stories tall.

All that said, investment in general is good for this one and for Austin. I'm looking forward to seeing this come to life.