Today a California based development group will finalize negotiations with state officials to convert [up to] 90,000/ft of the Texas State Capitol into luxury condominiums. Introduced early in the legislative session, the bill permitting the residential use didn’t take long to pass through the house and senate floors.
“We’re only here for six months every two years… this is an opportunity to generate revenue for the State” says a Texas State Senator who asked to remain unnamed.
Three design proposals, which had been on display inside the Capitol building since February, were reviewed by a Senate subcommittee. California based Kelso & Novak, the development group with the winning submission, gave priority to size and ensuring there was sufficient parking for future buyers.
According to John Kelso, principal and spokesperson for K&N “the design was driven by feedback from the legislators.” “We had the opportunity to do something different in downtown Austin, and we want to recreate the sense of horizontal space found throughout Texas suburbs,” Kelso continued.
Final designs and construction documents are to be delivered to the subcommittee within 90 days of contract, at which point the designs will be available for public scrutiny. “A pool would be nice” said Rick Reeves who was visiting the Capitol from Oklahoma.
The condos are scheduled to be complete in time for the next legislative session and it’s expected that the first buyers will be the legislators themselves. What remains to be seen is how much the capital markets will be a factor. Stimulus money will be available for buyers that do not qualify or do not have income.
-Lobby
-Kitchen
-Poolside lounge
Kelso & Novak website
Recent Comments
It seems as though your biased statements are based upon an uninformed belief and that you actually know nothing about ...
100% of the people living in this project will be receiving handouts. If you are paying $500 or under ...
New Renderings Of Capital Studios | Downtown Austin Blog http://t.co/sh6uc5b9
Draft art renderings of Capital Studios, our proposed downtown affordable community, via @downtown_austin http://t.co/lzgrne1b
Austin does not pride itself on "luxury-living" in downtown! That's an illusion made up by the residents of the Austonian/360 ...
My oh my what harsh language! I'm not criticizing anyone personally and its an opinion of my own so take ...
You want Foundation Communities to build a project in East Austin, that would take advantage of the Metro Rail? They ...
A bit perplexed on why you would think I have " the old attitudes about East Austin being the scary ...
If you want the real estate to stay prime two, three, or more decades from now, it's a much smarter ...
Okay, where are you getting that this is going to be a drab, prison-like building. The rendering looks pretty nice, ...
East Austin is only a couple blocks away. This is PRIME real estate. Why does it have to be right ...
There was already interest by developers for this lot to build condos/apartments atop retail with a great design. To ...
I agree with Zeke. The current idea of downtown being a luxury living location really began with the completion of ...
@downtownliving 1) you obviously have not been in Austin long if you think a. Austin is for the well-to-do or ...
You're a clown. "Always been for the well to do"? Hilarious! You couldn't have walked down Rainey St. at night ...