[UPDATE 12/17: this project has been confirmed through multiple sources and will be marketed at “The Independent“]
The Statesman is reporting some exciting news for the Austin Energy Control Center site.
Back in 2010, Constructive Ventures entered into a “Master Development Agreement” with the City of Austin for an agreed upon “transfer price” of $14,500,000. Now that the economy is starting to show signs of strength, the developers think the next couple of years could be the right moment to deliver a 50+ story condo and office tower.
Constructive Ventures has a strong track record of development in Austin, including: Spring Condos, Barton Place, Pedernales Lofts, and Este.
The 1.7 acre site is located immediately north of the Seaholm condos, which is under construction, and west of 360 condos. The site is one of the last missing pieces for developing the southwest district of downtown Austin.
While still a vision, if built, this would be an impressive addition to the downtown Austin skyline. More important is this development would further improve the street-level experience for pedestrians.
Summary of what we know:
– 400 residences (condos for sale)
– 50+ stories
– 120,000 square feet of office space
– 15,000 square feet of retail and restaurants
The design has shifted from a two-tower plan to a single tower, and the architect of record is Brett Rhode, who also designed 7rio, Aspen Heights, and The Catherine (née Aquaterra).
Construction could begin as early as Q4 of 2015. Expect capital market conditions to dictate exactly when it could happen. Whenever it begins, expect 2.5 years to complete construction.
Just for fun, in the image you see above, we’ve overlaid a building massing onto the site in order to show [very crudely!] how a 50+ story tower fits into the skyline. From the Statesman article, architect Brett Rhode said “the tower will be a mostly glass, with landscaped areas on different levels that will break down the scale of the building and enhance its visual appeal.”