downtown Austin's real estate and neighborhood blog
Remember La Vista On Lavaca?
Remember it was rebranded as the Fondren?
Remember when construction stopped?
Remember when it was posted for foreclosure?
Now, YOU can buy a mini-Intel-like-shell for $10.325MM. Google Street View Map
[flickr-gallery mode=”photoset” photoset=”72157623962501633″]
Yesterday, DAB commenter Chop Chop reminded us that Aquaterra isn’t dead. Back in February the ABJ’s Jacob Dirr had word from Rhode Partners that the project, long forgotten, was gaining new traction.
Sure enough, we found the permits.
Liz Rau, an architect with Rhode Partners filed a new permit application on April 6th. Simultaneously, general contractor Lyda Swinerton pulled permits for plumbing, electrical, mechanical. The original and approved 20 story (163 unit) site plan expired on April 20th, so it’s possible we could see some changes.
With over $1B in debt, the developer, Crescent Resources, went through a bankruptcy in 2009. From what we can glean from the news, the lenders took over the company. With limited residential product coming to market, and construction crews looking for projects, I wouldn’t be surprised if we see a project announced soon, and it might be Aquaterra [possibly rebranded].
Located at 210 Barton Springs Rd, next to the Hyatt, Aquaterra would have one of the best views of downtown Austin in the city. Back in 2007, when the Aquaterra sales center was firing on all cylinders, they were seeing reservations for more than $500psf. With the existing tier one buildings coming online, that would be a difficult price point to compete near over the next couple of years.
-Jude
Council has voted to approve the zoning change request by Schlosser Development, according to a report by InFactDaily, for the proposed Shoal Creek Walk office, residential, retail tower. Though not out of the fire yet as this was only a first reading and council member Laura Morrison dissenting (shocker!), it’s a good indicator that Schlosser will receive the requested zoning change from downtown mixed use (DMU) to downtown mixed use central urban development (DMU-CURE), a change that is necessary to increase the height limit from 120 feet to 350 feet. Much of the property is encumbered by a Capitol View Corridor.
Schlosser has been making the rounds, and building stakeholder support for this project, for a couple of months. The new development would replace the surface level parking lot just east of Whole Foods. What’s interesting about this zoning review case is that Schlosser is not requesting more density, as measured by FAR (floor to area ratio); rather, they are seeking more height in part of the building, to compensate for the CVC restricted height in another part of the building.
Taking the wind out of the politcal sails of anti-growthers, Schlosser offered up an affordable housing proposal. This is interesting because they are not seeking more density, and therefor have zero obligation to subsidize affordable housing, or pay a fee-in-lieu of affordable housing.
Another office tower was recently announced, next to Gables Park Plaza, not far from Schlosser’s site.
[flickr-gallery tag_mode=”all” mode=”photoset” photoset=”72157623942576972″]
Just posted my review of downtown Austin residential real estate for the first quarter of 2010. This report is only available to registered DAB readers. Why should you bother?
1) You want accurate and timely information on the market
2) You live, work, or care about downtown Austin
3) You are interested in selling or buying a downtown condo
4) You want access to information (like this report) not available anywhere else
5) There’s no commitment, if you don’t like it then unsubscribe with one click
Sign up in the DAB member area, where in addition to the report, you will have access to sales data in real time. As always, we appreciate your input as to how to improve DAB. Check it out!
-Jude
We love penthouses. There is only one top floor in any building, and this space is currently the highest occupied residence in Austin, Texas. Located on the 43rd floor, this two-story unit includes a private rooftop terrace. 2,022 ft, 2bd/2ba, and dramatic views by the truck load. Owned by Taylor Andrews, who along with Novare, developed the 360 condos. Link to photos and listing.
Before you jump to more information below, did you see that you can now search for downtown Austin lofts and condos on DAB? You can always click the link in the top right corner labeled “Property Search“.
