Downtown Austin Districts

50+ Story Downtown Austin Tower Envisioned By Constructive Ventures

Jude Galligan | August 8, 2014 |

[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.”

-Jude

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Forgotten About Downtown Austin Retail Space Available

Jude Galligan | May 9, 2014 |

Many of you have passed by the Convention Center parking garage, and could be forgiven for not noticing the vacant retail space that wraps the ground level of the garage. For the better part of 10 years the City and Harry Whittington were entrenched in lawsuits.

The space is finally available and the City is looking to get it leased up quickly. The location at 601 e 5th Street is one block from the Metro station, Convention Center, Moonshine, and 6th Street.

I think if the City gets a synergistic mix of tenants this could be the beginning of a downtown retail hub, anchored by Waller Creek and the Metro station. The location is excellent and is only made better with obvious access to parking above.

Within a half-mile you’ll find 7,365 hotel rooms, ~6mm feet of office, 69 retail stores, 84 restaurants. The City had an appraisal completed pegging the anticipated rent rate of $15.00-$18.00 NNN per year, which seems pretty conservative, even for the shell condition of the space.

There are three retail spaces available along Red River, ranging from 3,580 ft for the smallest space to the total contiguous 14,890 ft.

If you’ve got a good idea, the City is accepting lease proposals.

-Jude

p.s. If you want to check out the building, the Austin Convention & Visitors Bureau (ACVB) recently relocated its visitors center to one of the prominent spaces along 4th Street (much better digs than their old 6th Street spot, IMO, and includes curated murals from local artists).

Cuban Restaurant in Downtown Austin – Pleasant Storage Room

AG | April 22, 2014 |

As far as I know, there aren’t currently any Cuban restaurant concepts in downtown Austin proper. Well, there WASN’T before this week, anyway. There’s a new one popping up in the warehouse district, where the now defunct Stack Burger Bar used to be (one of the restaurant concepts owned by the now infamous Yassine Enterprises).

Let me introduce you to Pleasant Storage Room, officially opening TODAY: [Read more…] about Cuban Restaurant in Downtown Austin – Pleasant Storage Room

Downtown Austin Aloft & Element Hotel Proposal for Congress Ave

Jude Galligan | April 17, 2014 |

At last night’s Downtown Commission meeting, we heard from White Lodging on their proposed 33 story, 353 foot, 410 key, dual-branded Aloft/Element hotel at 7th & Congress Ave.

They paid more attention to engaging Congress Ave this time, compared to what they did originally with the JW. The rhythm of the columns, al fresco dining, and dramatic doorway from Congress are hat tips to connecting with the street scape.

The development is seeking a zoning variance related to step-backs and loading docks, which the DC voted to recommend to City Council provided that: 1) accommodation be made to the adjacent Hideout Theatre, which shares a party wall with the proposed development, 2) keeping the shared alley and sidewalks clear, 3) The South facing wall has no windows since the adjacent property could eventually be developed. There is a light well, but additional architectural consideration should be paid to this wall since this will be the most visible face of the building.

One interesting feature of this proposal is there will be zero parking spaces (excluding ADA requirements) and only three valet spots. This isn’t the first Congress Ave hotel concept to propose no onsite parking.

I’m a believer in reducing parking to increase demand for public transit and reduce reliance upon cars. It’s a rip-the-band-aid-off and get through the pain approach. But, only three valet spots for such a large building? Haha, lets watch this play out! White Lodging knows a thing or two about operating successful hotels and how to park them. The free market will determine the wisdom of this decision. If they make it work it will be a huge signal to other developers about what is possible.

Overall, I’m impressed with the proposal. It’s reflective of a city that’s grown up (not growing up) and it’s important that we support projects that bring density to narrow lots.

Tall and slender, if built, this would be the first new skyscraper on Congress Ave since … well… White Lodging’s other hotel currently under construction, the 1000 room JW Marriott.

-Jude

Downtown Austin Goes For The Goal – and the Gold!

Fred Schmidt | March 28, 2014 |

If you haven’t yet read this week’s edition of The Austin Chronicle – and seen the amazing front page photo/rendering – please check it out at once here! Stupendous reporting by Senior News Editor, Michael King, of breaking news regarding a multi-billion dollar plan to build a Major League Soccer (MLS) stadium in the middle of Lady Bird Lake, coupled with the new Light Rail line running straight through the center of the stadium as the train crosses the river.