Some people, myself included, were beginning to think downtown Austin’s Fairmont Hotel was becoming development vaporware. Back in March there was proof-of-life when they began fencing off the site.
Today, according to a press release sent to DAB, the Fairmont Austin, the first hotel providing direct access to the Austin Convention Center, is announcing that it has secured financing and will break ground on November 3, 2014.
Colony Capital has stepped in with project financing for the $370 million luxury hotel, which is expected to open June 3, 2017.
The site, located at the northeast corner of Cesar Chavez & Red River is a 1.74-acre parcel situated along the bank of Waller Creek. The hotel will be notable for having a direct connection to the Austin Convention Center, via an arial promenade being designed by Thomas Phifer and Partners (the firm selected by the Waller Creek Conservancy to develop a master plan for the Waller Creek district).
The finished building will no doubt add to downtown Austin’s skyline. At 595 feet tall, it will be second tallest structure in downtown Austin – the tallest being the 56 story, 680-foot Austonian.
Summary of what we know about the Fairmont Hotel…
- Number of rooms = 1,066
- Number of stories = 37
- Square Feet = 1.4 million
- Building Height = 595 feet
- Delivery = June 2017