AUSTIN—Interest is high for The Independent, the 58-story, 370-unit tower under construction in downtown Austin.

Constructive Ventures and Aspen Heights, co-developers of the project, have announced that after one week of activity, more than 90 percent of the units have been reserved. Located at the northeast corner of West 3rd Street and West Avenue in downtown Austin, the building will continue to take reservations for its waitlist.

The project began accepting reservations June 5, and within a week, 336 units were reserved, setting a new record for most number of units reserved in a one-week time period in downtown Austin. A reservation guarantees a buyer the right to purchase a specific unit for a specific price once the development team is ready to convert the reservations to contracts.

“We unveiled our plans for this building in mid-April and to be 90 percent reserved by mid-June speaks to the strength of all aspects of this project,” Greg Henry, founder and CEO of Aspen Heights, told GlobeSt.com. “We think it's a signal that we've put together the right product in the right location.”

“This building proved to be phenomenally popular among local residents who know well the features they are seeking in a downtown living environment,” Perry Lorenz, principal of Constructive Ventures, said, noting that the majority of the reservations are Austin-area residents.

In mid-April, Constructive Ventures and Aspen Heights unveiled plans for the condo tower planned at the 1.7-acre site and set to rise 685 feet, the tallest structure in Austin and the tallest residential building west of the Mississippi River.

“It's wonderful to have this kind of affirmative response from the market,” Henry says.