[GoldenBoot]

FYI: A "city initiated" zoning hearing regarding Block 21 (The W Austin Hotel & W Residences) will go before council this Thursday. The request is to change the site from CBD to CBD-CURE-CO zoning and modifying the FAR allowance from 8:1 to 11:1 (setting a limit for a 450' structure). The recommended "CO" (conditional overlay) shall restrict the daily vehicle trips to less than 5,129 trips per day.

Item #: 57
Case #: C14-06-0190


The following was a report in today's In Fact Daily...



Architect presents Block 21 concept drawings
By Kimberly Reeves

Architect Arthur Andersson presented the conceptual drawings for Block 21 to the Design Commission last night, outlining plans that include the city’s W boutique hotel, as well as new digs for the Austin Children’s Museum, KLRU and Austin City Limits.

The Design Commission, which typically confines itself to the broader design issues of projects, focused on some of the key points: the east-west orientation and massing of the building; sufficient parking spaces for both the hotel and condos; and the placement of parking and valet parking along the side of the W Hotel.

Shorter buildings will be placed to the front of the property. The condo-hotel tower will be at the back, or north end, of the property. Andersson said the placement of the buildings is intended to take advantage of the southeasterly winds off Town Lake. Materials will be local Leuders limestone, cast-in-place concrete and, for accents of areas around the KLRU studios, a milled-finish aluminum.

“We want materials that are going to improve, to have a patina with weather and age,” Andersson said after the presentation. “It’s very hard to do that until you’ve experimented some with the various materials you want to use.”

The numbers on the tower – how many hotel rooms and how many condominium units – are still somewhat fluid, expected to settle somewhere around 250 for each. Massing currently puts retail at somewhere around 24,000 square feet. The Austin Children’s Museum will be about 30,000 square feet, with about 10,000 square feet for Austin City Limits and another 10,000 square feet for ancillary space for KLRU. One of the key features of the property will be a JumboTron of the Austin City Limits performance over the plaza, which will provide real-time music performances during show tapings. At this point, about 600 parking spaces have been set aside for the project.

Commissioners had questions about the orientation of the building – east to west instead of north to south – and the fact it did not fill an entire block. Commissioners also questioned where, and how, valet parking will take place. Some questioned whether the on-site parking would be sufficient to handle the full range of the project. They also raised questions about two other aspects of the project – the protection and possible relocation of existing trees and the walking experience along all edges of the block.

Last week, the Planning Commission voted to recommend CBD-CURE zoning for the project with a conditional overlay. The City Council is scheduled to take up the matter on Thursday.

Andersson said groundbreaking is expected in May or June of next year with the building to be open sometime in 2008.

[KevinFromTexas]

I sent an email to the architects about 2 to 3 months ago and they told me it would be 432 feet tall with 35 floors. I'll still have to get the height of it just before they breakground since it may still change.

[GoldenBoot]

Willie's movin' on up

ACL studio theater, partly owned by singing legend Nelson, becomes neighbors with swank W hotel, Children's Museum in Stratus development at Block 21

By Michael Corcoran, Shonda Novak
AMERICAN-STATESMAN STAFF
Sunday, December 03, 2006


He played the "Austin City Limits" pilot in 1974, and when the venerable KLRU music program unveils its new downtown home on Second Street in 2010, Willie Nelson is a safe bet to christen that stage as well.

After all, he'll co-own the joint.

Nelson and nephew Freddy Fletcher will be partners in the studio/nightclub project with majority owner Austin-based Stratus Properties Inc. Stratus will build the space as part of a $225 million mixed-use project that will include a 35-story tower (up from previous plans for a 32-story project) with 200 luxury condominiums atop a 250-room W Hotel, a new home for the Austin Children's Museum, shops and restaurants.

Unofficially dubbed Austin City Limits Studio Theater, the $15 million, 2,000-capacity venue will serve as a soundstage approximately 40 nights a year when "ACL" tapes and transform into a musically diverse House of Blues-style club the rest of the time. The capacity doubled from earlier plans when a balcony was added and the space was reconfigured.

The new venue is expected to raise the show's profile and provide locals and tourists a destination entertainment attraction in a venue that will hold more than five times the audience the show can accommodate in its existing cramped quarters on the University of Texas campus.

West Hollywood-based architectural firm Rios Clementi Hale Studios, whose credits include a child care center for Warner Brothers and a dining terrace for the upscale Westfield Century City mall in Los Angeles, has been tapped to create the interior design.

"What I liked about Rios Clementi is that they're interested in being respectful to the long history of 'Austin City Limits,' " said Beau Armstrong, chief executive of Stratus, which last year won a bid to purchase the vacant property, known as Block 21, from the City of Austin. Plans call for a photo gallery of past shows of television's longest running live music program and a store to sell ACL souvenirs and memorabilia.

The licensing arrangements with "Austin City Limits," a brand that has gotten stronger with the success of the music festival that bears its name, are still being worked out, Armstrong said, although the show is expected to share in the proceeds.

"Plus they get a new studio," Fletcher added.

Groundbreaking for the mixed-use development is scheduled this summer in the block between Lavaca and Guadalupe streets across from Austin City Hall.

"It's very exciting to be in on something from the ground up," Fletcher said. "When I brought the idea to Willie a few years ago, he loved it."

The flexibility of the upcoming facility's floor plan is key, Fletcher said.

"Shows can be seated or not seated. We can move the stage to the center of the room. We can produce live TV shows. We've even been talking to theater consultants about doing off-Broadway musicals."

Fletcher said the facility echoes the multiuse venue Nelson envisioned in the Austin Opera House, which the singer owned in South Austin from 1974 to 1989. With a recording studio next door wired to the stage, the Opera House on Academy Drive hosted historic live recording sessions by Nelson, Stevie Ray Vaughan, Waylon Jennings and others.

Armstrong said his development team, which has scouted similar-sized venues, such as the Joint in Las Vegas and the Nokia Theater in New York, has been advised by concert giant Live Nation, which recently acquired House of Blues for $350 million. Armstrong said he is close to reaching an agreement with a major concert promoter to operate the venue, but he declined to name it.

Fletcher said W Hotels was "over the top excited" to be neighbors with Willie, a national folk hero whose appeal cuts a wide swath.

"Our quest for the perfect address in Austin has been rewarded with this unique location at the center of Austin's highly successful Second Street District," Ross Klein, president of W Hotels Worldwide, said in a statement. The swanky hotel will officially announce plans for its maiden Austin location today. "This neighborhood is now the hub of Austin's downtown and continues to attract new restaurants, retail, office and residential projects. We're thrilled to do our part to attract folks downtown, whether to live, visit, work or play."

The hotel will include a restaurant, a theme bar, two swimming pools, a fitness center, a 7,000-square-foot spa and extensive indoor and outdoor meeting and banquet space. Two additional restaurants, plus a club overlooking a plaza, will be part of 28,000 square feet of retail in the project.

Operators have not yet been chosen, although Armstrong hopes to attract local veterans for a sushi restaurant and a steakhouse.

Prices for the condos will range from just under $400,000 for a small one-bedroom to several million for the larger penthouses. Condo residents will have access to the hotel's 24-hour concierge service, which, according to W Hotels, can provide guests whatever they want, "from a pair of running shoes at 2 a.m. to private jet service." mcorcoran@statesman.com; 445-3652

snovak@statesman.com; 445-3856

[Mopacs]

Wow, the ACL/W-Hotel is really coming together. This is VERY exciting news.

[mars-man]

Who knew that all this time W stands for Willie? ;-)

[KevinFromTexas]

More 2nd Street delights.

I'm really looking forward to this store opening. There's no telling what kind of cool Austin stuff they'll have. They had better have some new Austin postcards with the Frost Bank Tower, (I have yet to see any).

From KXAN.com
http://kxan.com/Global/story.asp?S=5767766

Austin City Store Opening Next Week

Dec 4, 2006 05:15 PM

You'll see a new addition to the Second Street district downtown.

The shelves are empty now, but beginning next week, a new store will feature products made right in Austin.

The Austin City Store is inside city hall, but has a convenient entrance on Second Street. City officials hope the store is a hit with tourists.

"They want opportunities to take things home so they can remember their positive experience with Austin so we want to give them that opportunity as well as in the future have another revenue source for the city," Jan Stephens with the City of Austin said.

The new store is expected to open next week and will be open Monday through Saturday.

[GoldenBoot]

W HOTELS TO HEADLINE MUSIC, RETAIL, RESIDENTIAL
DEVELOPMENT IN LONE STAR CAPITAL


W Austin Hotel & Residences to Feature New Music Venue for 'Austin City Limits'


New York, NY, December 04, 2006 – W Hotels Worldwide, the world's fastest-growing luxury hotel brand, today announced its plans to open W Austin Hotel & Residences in the Live Music Capital of the World, a project featuring approximately 250 guestrooms and 200 residential condominiums that will serve as an anchor for the City of Austin's vibrant Second Street District.

The unique mixed-use development will be located on Block 21, an entire city block at the heart of the Second Street District and will star the new home of the world-famous "Austin City Limits" public television music show in a 2,000-seat live music and event venue. Also planned for Block 21 is the new location of Austin Children's Museum as well as approximately 25,000 square feet of retail and restaurant uses and extensive outdoor space.

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), the parent company of W Hotels, has entered into a management agreement with Austin-based Stratus Properties Inc. (NASDAQ:STRS) to manage the hotel, which is expected to open in early 2010 along with the residences.

"Austin, with its exceptional music scene, thriving creative and high tech community and the energy and vitality of the University of Texas, has long been on W's short list of sites," said Ross Klein, President of W Hotels Worldwide. "Our quest for the perfect address in Austin has been rewarded with this unique location at the center of Austin's highly successful Second Street District. This neighborhood is now the hub of Austin's downtown and continues to attract new restaurants, retail, office and residential projects; we’re thrilled to do our part to attract folks downtown, whether to live, visit, work or play."

"We are extremely pleased to have the W Hotel anchor Block 21," said Beau Armstrong, president of Stratus Properties Inc. "The collaboration between W Hotels, Austin PBS station KLRU-TV, the Austin Children's Museum, and the City has been remarkable and will make for a wonderful project to complement the new City Hall, the planned $90 million central library, and existing and planned uses within the Second Street District. Block 21 will set a new standard for green building. Sustainable design, construction and operations will be the hallmark of our project. We will push the envelope to create a healthy environment for our residents and guests and for our community."

"We are very excited to be a part of Block 21," said Bill Stotesbery, CEO and general manager of KLRU-TV, producer of "Austin City Limits" throughout its 32 seasons on the air. "The Stratus vision for Block 21 is to create an anchor destination for downtown Austin, one that reflects the cultural spirit and diverse interests of Austinites of all ages. The Austin City Limits Studio Theater is ideally suited for this vision, and we could not hope for a better team to make this a reality than Stratus, Austin Children's Museum, and especially the W Hotel, whose brand stands for quality, just like ACL."

Austin Children's Museum plans a 30,000 square-foot state-of-the-art facility. "The Austin Children's Museum location in Block 21 will provide a great place for Austin families in the heart of downtown," said Mike Nellis, executive director of the museum. "We are so pleased to be part of this forward-looking project with our new neighbors, the W Hotel and 'Austin City Limits'."

W Austin Hotel & Residences will feature all of the brand's celebrated comforts including its signature Living Room experience and Whatever/Whenever®, the hotel's 24-hour concierge service that can provide whatever guests want (from a pair of running shoes at 2 a.m. to private jet service) whenever they want it. Other highlights of the property will be several innovative restaurants and clubs, a street-level plaza, an outdoor elevated garden incorporating a swimming pool, a full-service Sweat fitness facility, a 7,000 square foot Bliss® Spa, and extensive indoor and outdoor meeting and banquet space.

Owners of W Austin Residences will have full use of all the hotel's facilities as well as access to 24-hour room service, daily housekeeping service and concierge services. A sales center including a model residential unit is expected to open in late summer 2007.

About W® Hotels
Since its debut in 1998, W Hotels has been a favorite of guests and developers alike and today is a global lifestyle brand with 21 properties in the most vibrant cities around the world. . Inspiring and indulging its guests with thoughtful, refreshing and stylish experiences, signature restaurants, bars and destination spas, W has become the fastest growing luxury hotel brand in the world. Each hotel offers a unique mix of innovative design, comfort and cultural influences from fashion to music to art and everything in between. The latest openings include W Dallas in June of 2006, W's first property in Asia, W Seoul - Walkerhill, which opened in August of 2004 and its first property in Canada, W Montreal, in October of 2004. Residence properties, offering the W lifestyle at home, have been announced for Dallas, Fort Lauderdale, Scottsdale and Hoboken. In addition, there are more than a dozen W Hotels in the development pipeline in city and resort destinations. For more information, visit www.whotels.com.


About Starwood Hotels & Resorts
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood® Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis®, The Luxury Collection®, Sheraton®, Westin®, Four Points® by Sheraton, W®, Le Méridien and the recently announced AloftSM and ElementSM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.


Article Publish Date : 12/04/2006

[LoneStarMike]

More 2nd Street delights.

[SNIP]

The Austin City Store is inside city hall, but has a convenient entrance on Second Street. City officials hope the store is a hit with tourists.


If you turn on Cabe Channel 6 right now, they've got camera's set up in front of the store and are fixing to hold a news conference.

Edited to add:

The press conference/ribbon cutting is over. For those who didn't get to see it, the mayor mentioned that City Hall had gotten an award from LEEDS last night at the City Council Meeting.

The new store is 1,400 square feet. Not many city halls have retail and he was very happy that Austin's did.

He mentioned Austin Java would soon be opening at the other corner (called it Ruta Maya's twice before being corrected) - also Lambert's Barbeque is open.

Wynn said as proud as they were of City Hall, they wanted some retail in that block on the city hall side since it was in the middle of the 2nd St. District.

Toby Futrell spoke and mentioned Three Forks opening and urged everyone to shop Austin.

Mayor cut ribbon - doors (which had been open) then closed - Mayor joked it was a door closing ceremony.

Then it showed the inside of the store. I saw cowboy hats, Keep Austin Weird & Austin City Limits T-shirts, pillows, books, wind chimes, children's toys (and a table and chairs for the kiddies to sit at) what looked to be a poster of the Zilker Christmas Tree on the wall, and some snow globes with Frost Tower, the UT Tower & the Capital & other smaller buildings in them. (In addition to the snow in the snow globes, there were also some little black bats swirling around.)

And that was pretty much it for the ribbon-cutting ceremony.

[JAM]

Block 21 Plans Getting Around
BY KIMBERLY REEVES

Sorry for the old news but I'm really looking forward to this project getting off the ground!

Formerly a parking lot for city employees, Block 21 (which could look something like this rendering) will now contain W Hotel & Residences, the new Austin Children's Museum, and a new home for Austin City Limits.
View a larger imageThe high-profile plans for Block 21 are making the rounds of city commissions, highlighting a combination of hotel, museum, and music venues for Downtown.

Block 21, just north of the Austin City Hall, didn't look like much when it was simply a parking lot for the City Hall extension just seven years ago. Today it's a plum parcel for development that will be home to an upscale W Hotel & Residences, the new Austin Children's Museum, and a combination of public television station KLRU and Austin City Limits. Stratus Properties was the winner of a competitive bid process for the development, beating out Zydeco Development and Endeavor Real Estate Group just more than a year ago.

Architect Arthur Andersson of Andersson Wise, known for both church and museum construction, recently presented updated plans to the Design Commission. He noted that the placement of the buildings is intended to take advantage of the southeasterly winds off Town Lake. The shorter buildings will be placed to the front of the property to catch the breeze. The condo-hotel tower will be at the back, or north end of the property. Materials will be local Lueders Limestone, cast-in-place concrete, and, for certain touches such as the accents on the KLRU studios, a milled-finish aluminum. "We want materials that are going to improve, to have a patina with weather and age," said Andersson after the presentation. "It's very hard to do that until you've experimented some with the various materials you want to use."

The W Hotel, Sheraton's boutique line of hotels, will compete head-to-head with the new Austin Hilton; a W Hotel anchors the new Victory development in Dallas. The numbers for the tower – how many hotel rooms and how many condominium units – are still somewhat fluid, expected to settle somewhere around 250 of each. Massing currently puts first-floor retail at somewhere around 24,000 square feet. The Austin Children's Museum will be about 30,000 square feet, Austin City Limits and KLRU about 10,000 square feet each.

One of the key design features of the property will be a JumboTron of Austin City Limits performances over the plaza, which will provide real-time music performances during show tapings. The Design Commission, which typically confines itself to the broader design issues, focused on some of the key points: the east-west orientation and massing of the building, sufficient parking spaces for both the hotel and condos, and the placement of parking and valet parking along the side of the hotel. Andersson said the expectation is to break ground in May or June, and to be open at some point in 2008.


http://www.austinchronicle.com/issues/dispatch/2007-01-12/panoramic.jpg

http://www.austinchronicle.com/gyrobase/Issue/story?oid=oid:435195

[Jdawgboy]

Shouldn't we start seeing dirt fly on this project within the next month?

[GoldenBoot]

The following images may be new renderings of the 36-story, W Austin Hotel & Residences!?!

http://www.ci.austin.tx.us/downtown/images/SWView%20031207_small.jpg

http://www.ci.austin.tx.us/downtown/images/SE%20Plaza%20View%20Small%20041307_small.jpg


Block 21 (including the W) is expected to turn dirt in June 2007...

[greenbelt]

The following images may be new renderings of the 36-story, W Austin Hotel & Residences!?!Block 21 (including the W) is expected to turn dirt in June 2007...

Wow, it looks even taller than some of the previous posts. It's growing on me. :tup:

[Strayone]

It's got a point tower look to it, I never thought this when I saw other renditions. It's something our fair city has been missing. Was it always planned to be 36 floors? It does look taller in this rendition.

Anyone ever notice that alot of these condos top floor balcony does'nt have some sort of cover, or ceiling like structure. I noticed the same on other buildings like Austin Lofts, 360, Altavida. Is this customary. Most balcony's offer an elemant of cover to the balcony below it, seems like a good thing to have for say protection from the elements and such. But the top floor balcony is totally open. Just wondering.

[JAM]

It's got a point tower look to it, I never thought this when I saw other renditions. It's something our fair city has been missing. Was it always planned to be 36 floors? It does look taller in this rendition.

Anyone ever notice that alot of these condos top floor balcony does'nt have some sort of cover, or ceiling like structure. I noticed the same on other buildings like Austin Lofts, 360, Altavida. Is this customary. Most balcony's offer an elemant of cover to the balcony below it, seems like a good thing to have for say protection from the elements and such. But the top floor balcony is totally open. Just wondering.

Interesting observation. I invite you over to this thread to offer any opinions or experience you may have concerning awnings on condos.

http://forum.skyscraperpage.com/showthread.php?p=2823127#post2823127

[Strayone]

Jam thanks for the link, I plan to follow that thread. It's always something that I look for in these new condo towers.

[LoneStarMike]

Was it always planned to be 36 floors? It does look taller in this rendition.


It's grown since since the initial announcement.

I went back and looked at the thread for this project over at the austin forum (Link) (http://austinforum.8.forumer.com/viewtopic.php?t=196)

First, the Austin American Statesman reported on March 23, 2006 that the building would be 32 floors. The article didn't give a building height, but it did mention the project would have 3 levels of underground parking.

Then there was a news brief with a rendering back in July 2006 from the McGraw Hill website (Link) (http://texas.construction.com/news/building/archive/0607.asp) that said it was going to be 29 stories. and made no mention of the underground parking. The news brief also made no mention of the building's height.

Since one source said 32 stories and one source said 29, I asked on the Austin forum back in September which was correct, and at the time KevinFromTexas said he understood the building would be 402 feet tal and 32 stories.

When this thread began, started by GoldenBoot in December 2005, it was being reported as being 35 stories up from 32 stories. Per KevinFromTexas, the developer gave a new height of 432 feet.

Now, the City of Austin website says 36 floors, which would still make it at or below 450 feet.

Old rendering from the McGraw Hill website

http://www.geocities.com/charmsdad/images/austin/w_hotel.jpg

Current rendering from the City of Austin website

http://www.ci.austin.tx.us/downtown/images/SWView%20031207_small.jpg

Comparing the two, it looks like the additional floors are in the upper part of the tower where the condominiums will be.

[Mopacs]

Now Legendary 'baller Magic Johnson is part of the ever intriguing Block 21 project...

http://www.statesman.com/business/content/business/stories/realestate/05/09//9johnson.html

REAL ESTATE

Block 21 'adds a little Magic'

Downtown development gets an assist from NBA legend Earvin Johnson.

By Shonda Novak (snovak@statesman.com)
AMERICAN-STATESMAN STAFF
Wednesday, May 09, 2007

First it was Willie Nelson.

Now stepping to the line: basketball legend Magic Johnson.

The NBA superstar turned businessman is the latest high-profile figure to lend his name, money and expertise to Block 21. By early 2010, the project may transform a vacant downtown block into a flashy complex with live music, a W hotel, luxury condominiums, and shops and restaurants.

Earvin "Magic" Johnson and his private equity fund, Canyon-Johnson Urban Fund, will invest $50 million in the $260 million project that Austin-based Stratus Properties Inc. plans to start building in September on a lot north of City Hall.

Johnson said the redevelopment is a good fit for some of the nearly $1 billion the fund has committed to help foster $3 billion worth of urban revitalization and mixed-use projects in cities such as Los Angeles, San Diego, Miami, Milwaukee, Baltimore, Boston, Chicago and Brooklyn, N.Y.
"We just want to do business in a great city," said Johnson, who likes Austin and has friends here, including many University of Texas athletes. "Every guy that plays here, they don't want to leave. What is it that makes Austin magical like that?"

Johnson and K. Robert Turner, Canyon-Johnson's managing partner, said Austin fits the profile of cities where the fund likes to invest, from growing areas such as Central Texas to ethnically diverse neighborhoods in densely populated metro areas.

The Block 21 project is expected to create thousands of construction jobs and hundreds more jobs when the project opens, Turner and Johnson said.
"We are committed to creating opportunities for the people in Austin, and I feel blessed and fortunate to be able to bring our expertise and our money to the City of Austin," said Johnson, who led the Los Angeles Lakers to five NBA championships and became one of the NBA's most popular players ever.

Since announcing that he had HIV in 1991, he has crusaded for AIDS prevention and made socially conscious investments and donations.
Block 21 is the fund's first investment in Austin.

Canyon-Johnson Director Neville Rhone first targeted Austin for investment two years ago. Executives later paid visits to Mayor Will Wynn and other city officials who steered them to the Block 21 deal, Turner said.
The partnership resulted from a "two-punch knockout," with Wynn selling Canyon-Johnson officials on his long-range vision of Austin and Beau Armstrong, Stratus' chairman and CEO, selling them on "the uniqueness" of Block 21.

Stratus' plans for Block 21 include an upscale 250-room W hotel and 200 luxury condominiums in a 35-story tower, plus new homes for the Austin Children's Museum and KLRU's acclaimed "Austin City Limits" music program.

The condos are expected to be priced from about $400,000 to more than $3 million, Armstrong said.

In addition to the television studios, Live Nation will operate a 2,200-seat live music/performance space venue when "ACL" isn't taping. Willie Nelson and nephew Freddy Fletcher will be partners with Stratus in the "ACL" venue, lending financial and technical support.

The venue is expected to raise the show's profile and provide locals and tourists with a destination entertainment attraction, with five times the capacity of the existing quarters on the University of Texas campus.
Armstrong said the music component resonated with Canyon-Johnson, particularly Rhone and Turner, who are big fans of "Austin City Limits" and its public television sponsor.

"They thought that was really great to have that energize the development," Armstrong said.

Turner added that the goal of getting the highest level of green building certification for the project was a selling point.
Armstrong said Canyon-Johnson has been interested in the project from the outset, with a phone call from Rhone coming soon after the city chose Stratus to purchase and redevelop the site after a competitive process.
"They liked the concept," Armstrong said, but at that preliminary stage, discussions didn't go much further.

Rhone "kept calling back," Armstrong said. "And as we continued to make progress, I kept them informed and kind of struck up a good relationship."
Stratus chose Canyon-Johnson over a number of other "very qualified" prospective partners, Armstrong said, adding that the fund's Block 21 investment could yield double-digit returns."

Johnson said he's looking forward to attending Block 21's ribbon-cutting. "I'll be there for sure," he said. "We don't just write a check. We also get involved with the city."


Canyon-Johnson Urban Funds

Headquarters: Beverly Hills, Calif.
Key executives: K. Robert "Bobby" Turner, managing partner; Earvin "Magic" Johnson, managing director
Funds: Canyon-Johnson Urban Fund (2001): $300 million; Canyon Johnson-Urban Fund II (2005): $600 million

Recent deals:

Committed $121 million to a mixed-use project in the Little Havana district of Miami.
Acquired the Marq-E Entertainment Center in Houston for $50 million.
Announced plans for a $159 million mixed-use development in midtown Atlanta.
Acquired the Williamsburgh Savings Bank, the tallest building in Brooklyn, N.Y., with plans to convert it to condos. Magic Johnson on . . .

University of Texas athletics: 'They dominate in so many different sports. It's amazing they can have a track record like that. Whatever sport, the university has done a wonderful job.'
Kevin Durant, the ex-Texas Longhorns star who is headed for the NBA: 'He's the best freshman I've seen in my life. To have those skills at 18 years old, I don't think I've seen that before. Matter of fact, I haven't. And also to have good attitude. He also has done a wonderful job for the whole state of college basketball, with that smile, the way he played, and now he will be a great player in the NBA. This man is already beyond his years.'
The San Antonio Spurs' success against the Phoenix Suns: 'It's because of Tim Duncan. You have to realize when you have a great, dominant low-post player, it allows everybody else to play better. . . . When Tim is going well, then so are the San Antonio Spurs.'
For the No. 1 pick in the NBA draft: Durant or Ohio State's Greg Oden? 'Depends on what you need. Durant has more skills and is the most talented of the two, but a team may need a center, and then you have to pick Oden. He's going to hold down that position for a long time.'
Who will win the NBA championship? 'I think the winner of the Spurs and Phoenix (series) will win it.'
On life after basketball: 'I love what I do now. Basketball couldn't be forever. Effecting change in a city and community is forever. And I think that when I got into business with Canyon-Johnson and Bobby (Turner, the fund's managing partner), we are effecting change, and people's lives, for the better. We have affected so many communities across America.'
On his investment in an Austin project: ' I hope that it will trigger others to come back, too, Vince (Young, former UT quarterback), Kevin (Durant). They're the superstars now. They will make a lot of money, and I want them to be great athletes . . . but I also want them to be great people and great businesspeople.'

[HiRyzr]

Today's Statesman has an article that states Block 21 will be 35 stories and Stratus hopes to break ground in September. For some reason the ground breaking date keeps getting pushed back (even with Magic Johnsons $$$).The City intended to include a provision in the agreement with the developer to commence building by a certain date. Does anyone know if that provision was included in the agreement with Stratus? If so, when is the deadline?

[Complex01]

Well hopefully they start sooner then later. I just hope they make the base look really good. I hope they dont use that brown facade, but more of "colorful glass" one. The location is great to, it will stand out there...

:cool:

[sakyle04]

It's got a point tower look to it

What is a "point tower"? :shrug:

And why can't San Antonio have about 6 of them? :yes:

[GoldenBoot]

This project just keeps getting better and better. The cost, I see, has increased from $225 million to $260 million. Also, I noticed LiveNation will be running the live music venue. By the way, the House of Blues is a LiveNation company! Maybe it was hint when Stratus described the ACL studio theater as a "House of Blues-style" restaurant and entertainment venue. I'd love to have a House of Blues in Austin! In fact, several years ago, HOB was looking for a downtown location...

Today's Statesman has an article that states Block 21 will be 35 stories and Stratus hopes to break ground in September. For some reason the ground breaking date keeps getting pushed back (even with Magic Johnsons $$$).The City intended to include a provision in the agreement with the developer to commence building by a certain date. Does anyone know if that provision was included in the agreement with Stratus? If so, when is the deadline?

It is extremely difficult to uphold a specific groundbreaking date when you propose one almost a year in advance. Last summer, Stratus projected to break ground on Block 21 in early 2007. This was rescheduled to June when the design of the project changed, i.e., increasing the size of the ACL studio as well as increasing the height to 35 stories (or 36) from 32. I beleive the 35-story quote in the paper may be a typo...

Stratus has to negotiate with several tenant management contracts at the same time. And the process is not a speedy one. Therefore, it is not unheard-of (and not alarming) to delay the start of construction for another 2-3 months - considering everything that has to be completes and ironed out in a mixed-use project of this size (~1 million SF).

[GoldenBoot]

Old rendering from the McGraw Hill website

http://www.geocities.com/charmsdad/images/austin/w_hotel.jpg

Current rendering from the City of Austin website

http://www.ci.austin.tx.us/downtown/images/SWView%20031207_small.jpg


It looks as if the height may have increased... The building is more of a point tower now - possibly in the 450'-480' range (from 433')???

[ATXboom]

Sakyle,

Check out some images of Vancouver... point towers typically have a full base up to 5 or so strories for retail, etc... the elevated portion is as narrow a footprint as possible to prevent "canyonization" affects and maximizes sunlight penetration at the street level. Spring is touting this design as well.

In re to San Antone... austin and san antone are my fav cities in TX but are so different in so many ways. Different population and employment demographics primarily - and demand is extremely high in austin for this type of development. I'm sure SA will get a few in due time.

[sakyle04]

Sakyle,

Check out some images of Vancouver... point towers typically have a full base up to 5 or so strories for retail, etc... the elevated portion is as narrow a footprint as possible to prevent "canyonization" affects and maximizes sunlight penetration at the street level. Spring is touting this design as well.

Thanks ATXboom...

Interesting indeed.

[Jdawgboy]

Im sorry but that building has to have more than 35 floors in the new rendering. It looks considerably taller than the first rendering. I love how it looks thinner. Im not fond of bulky spread out buildings so it will definatly look nice thinner and taller.

[JAM]

Im sorry but that building has to have more than 35 floors in the new rendering. It looks considerably taller than the first rendering. I love how it looks thinner. Im not fond of bulky spread out buildings so it will definatly look nice thinner and taller.

Yeah, bulky spread out buildings in the U.S. are generally not as nice as our taller, thinner ones. European ones on the other hand, can be quite grand.

[Mopacs]

Site plan for Block 21, via http://www.2ndstreetdistrict.com/block21.html

http://www.2ndstreetdistrict.com/images/block21.jpg

[GoldenBoot]

Site plan for Block 21, via http://www.2ndstreetdistrict.com/block21.html

http://www.2ndstreetdistrict.com/images/block21.jpg




It will look similar to what you see above, but that is an OLD sample, i.e., Second Street District website's version, of the site plan. The current plan is still being tweaked and will include roughly twice the amount of retail space (~20,000-27,000 SF).

[JAM]

It will look similar to what you see above, but that is an OLD sample, i.e., Second Street District website's version, of the site plan. The current plan is still being tweaked and will include roughly twice the amount of retail space (~20,000-27,000 SF).

GB: Do you happen to have a plan you can post? Where will the retail be - ground floor or two levels?


More info:

AUSTIN, Texas--(BUSINESS WIRE)--Austin-based Stratus Properties (NASDAQ: STRS - News) is partnering with the Canyon-Johnson Urban Fund to provide the equity for Block 21, a $250 million mixed-use development in downtown Austin. The project includes a 250-room W Hotel® and 200 residential condominiums, a new home for the world-renowned Austin City Limits television studio, as well as a 2,200 seat live music venue, the Austin Children's Museum Dell Discovery Center, retail space, restaurants and an open-air public plaza.

"We are thrilled to be partnering with Canyon-Johnson on this exciting project," said Beau Armstrong, Chairman and CEO of Stratus. "We are on track to break ground in September of this year, and believe this development will be a major stimulus to the continuing growth of downtown Austin."

"Austin is a growing, dynamic and entertaining city," said Earvin "Magic" Johnson. "We are committed to creating opportunities for the people in Austin, and making sure that Block 21 reaches its fullest potential."

Canyon-Johnson's Managing Partner Bobby Turner added "Block 21, our first investment in Austin, is exactly the type of exciting revitalization that we have had success with nationwide."

The Canyon-Johnson/Stratus partnership also plans to make Block 21 a model for environmentally sustainable design. The project is expected to secure the U.S. Green Building Council's LEED Platinum certification, putting it among the first mixed-use developments built to this extraordinary environmental standard anywhere in the world.

"We couldn't be happier working with the Stratus team on this unique project," said Canyon-Johnson Director Neville Rhone. "Stratus has assembled an incredible team that will create a truly irreplaceable destination in downtown Austin."

Folk icon Willie Nelson and nephew Freddy Fletcher are partners in the music venue. In 1974, Nelson taped the pilot performance for Austin City Limits, paving the way for this longstanding innovative music program that is now a staple of the Public Broadcasting Service. "Our family has long ties to KLRU and Austin City Limits and we are proud to be involved in this project," Fletcher said.

The planned 35-story structure features the W Hotel® on the lower floors and 200 residential condominiums on the upper floors. The first four floors will contain lobby areas for the hotel and residences, retail space with street frontage, a spa, swimming pool and pool terrace. Condominium owners will enjoy unprecedented access to five-star W Hotel® amenities such as concierge services, valet parking, room and housekeeping services, and in-home spa services.

Construction of the project is scheduled to commence in September 2007, with pre-sales for the condominiums beginning in June 2007. The transaction is subject to the execution of definitive agreements.

About Canyon-Johnson Urban Funds

The Canyon-Johnson Urban Funds (Canyon-Johnson) are the country's largest private real estate funds focused on the development of urban properties in underserved neighborhoods. A joint venture between Canyon Capital Realty Advisors and Earvin "Magic" Johnson's Johnson Development Corporation, the funds were formed to identify, enhance and capture value through the development and redevelopment of real estate in densely populated, ethnically diverse urban communities. The Funds' objectives are to seek current income and capital appreciation and, in addition to meeting investment goals, the funds are committed to providing for and fostering economic opportunities for the residents of the urban neighborhoods in which Canyon-Johnson invests. With nearly $1 billion in committed equity capital, the funds are positioned to facilitate more than $4 billion in development and revitalization in major U.S. metropolitan areas. For more information, visit www.cjuf.com.

About Stratus Properties

Stratus Properties engages in the acquisition, development, management and sale of commercial and residential real estate. Known for the quality of the communities that it builds, Stratus relies on careful planning and attention to detail to create settings that make living, playing and working more enjoyable. Stratus Properties is a publicly traded company and is listed on the NASDAQ under the symbol STRS. Learn more at www.stratusproperties.com.


Contact:

For Stratus Properties
Kristen Coco, 310-689-7539
kristen@sugermangroup.com
or
Steve Sugerman, 310-689-7539
or
Eric Webber, 512-225-2600
eric@webbermcj.com

Source: Stratus Properties

http://biz.yahoo.com/bw/070509/20070508006623.html?.v=1

[KevinFromTexas]

I've also heard 35 floors before, in other articles, but the newest up-to-date height I have which came from the architect, (Anderson-Wise), was 432 feet and some change and 36 floors. Once construction is close to beginning I'll send a few emails their way and try and get the heights. I don't like to worry with getting heights while buildings are still in the planning stages since heights can often change. I'd rather wait until plans are finalized, that way I won't be as much of a pest to them for asking about "Why is it taller or shorter now in this article?" or "How tall will it be now that it has more or less floors?"

[GoldenBoot]

News on the W...They will begin construction early in '08. Because of the departure of The Austin Children's Museum, the developer must (and has already submitted the paperwork) obtain new zoning approval. Under the current zoning, the restaurant and retail space was capped by the current FAR limitations (the museum space, I believe, was not included in the calculations due to its use being of overall community interest). Therefore, Stratus will be asking the City Council (in January) to approve their request to increase the FAR from 11:1 to 12:1 to allow for up to 217 condos; 252 hotel rooms; a 2,480-capacity music venue (1,146 fixed seats); 13,642 SF “destination,” non-hotel restaurant; and 53,422 SF of specialty retail. All of these numbers have increased from their original zoning request and site plan.

Additionally, the entire development will increase its maximum square footage from 843,302 SF to 919,996 SF with the new FAR request.


Merry Christmas!

[Jdawgboy]

So does this mean the building will have more floors? How will this change the height of the building overall?

[KevinFromTexas]

I've been trying to shake some height figures out of them and haven't gotten anything except what we already know, 433 feet and 35 floors. I also haven't heard back from the folks at Spring about its height. I even emailed Larry Warsaw and Robert Barnstone directly and haven't heard back about it.

[M1EK]

BTW, we're members of the ACM, and I can't believe they were stupid enough to pass up on that space. I'll be tearing up my membership card if they do what I fear they're going to do and announce a move out to the burbs.

[GoldenBoot]

Excavation on the garage should commence within the coming weeks.

According to the approved/released site plan, the 37-story Block 21 (aka, W Austin Hotel & Residences) may be 462' (140.8m) to the HOF (highest occupied floor) and 478' (145.7m) to the roof.

Prior proposal: a 35-story, 446' (135.9m) (430 ' (131.1m) to the HOF).

[shanny]

GREAT NEWS! :cheers:

THATS HIGHER THAN THE ROOF OF 360! (barely)

[bigdogc]

two things to comment on- 1. the W is doing amazing. They only have 40 more units to sell and they still havent broken ground. I was quoted at $640,000 for the 28th floor corner unit ( ~ approx 900sq ft), thats almost 800 bucks a square foot. If only they knew I was a college student! :haha:


2. New pictures of the building are on austinhomesearch.com, the building looks extremely badass.

Great news about new height

[Jdawgboy]

Where on the site are they on? I can't find them.

[paulsjv]

two things to comment on- 1. the W is doing amazing. They only have 40 more units to sell and they still havent broken ground. I was quoted at $640,000 for the 28th floor corner unit ( ~ approx 900sq ft), thats almost 800 bucks a square foot. If only they knew I was a college student! :haha:


2. New pictures of the building are on austinhomesearch.com, the building looks extremely badass.

Great news about new height

I'm assuming that must be a one bedroom for 900sq/ft. That's insane amount of money for such a small place. Wonder what type of person will buy that.

[shanny]

found these doing a condo search on that site, didnt find any exterior though.

http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos/9022852_0.jpg

http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos/9022852_1.jpg

http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos/9022852_2.jpg

http://www.cjuf.com/img/content/portfolio-slides/block-21/01-block-21-big.jpg

[mars-man]

I'm assuming that must be a one bedroom for 900sq/ft. That's insane amount of money for such a small place. Wonder what type of person will buy that.

Well, anyone who routinely shops at Whole Foods without batting an eye at their prices would be a prime candidate. ;)

[bigdogc]

http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos%5C6532710_7.jpg
http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos%5C6532710_6.jpg
http://austinhomesearch.com/Branding/localhost/AHS/WebPhotos%5C6532710_5.jpg

looks pretty cool

[ATXboom]

badass... ^^^

Are those new pics from their website??

[paulsjv]

Well, anyone who routinely shops at Whole Foods without batting an eye at their prices would be a prime candidate. ;)

I do all of my shopping at Whole Foods. There are actual good deals if you really shop and not just buy "whatever." So to say what you said isn't true because I shop there all the time without batting an eye but I can't afford $640,000!! AH! ;)

[bigdogc]

i got those pics from austinhomesearch.com - they are putting the W penthouses on the MLS and I guess those are some of the images the W gave their real estate guys.

i would comment on whole foods, but we might get into an internet fight with some of the opinions i have about that place!

[Saddle Man]

I'm assuming that must be a one bedroom for 900sq/ft. That's insane amount of money for such a small place. Wonder what type of person will buy that.

I would if I had the money.

[Saddle Man]

I do all of my shopping at Whole Foods. There are actual good deals if you really shop and not just buy "whatever." So to say what you said isn't true because I shop there all the time without batting an eye but I can't afford $640,000!! AH! ;)

Your employee discount is a good deal. I wish I had it.

[KevinFromTexas]

Great news about the height. 478 feet to the roof would put it at 6 feet taller than 360's roof. And it would be tied with 360 for highest occupied floor.

[AustinGuy]

GREAT NEWS! :cheers:

THATS HIGHER THAN THE ROOF OF 360! (barely)

I'm curious as to how much this tower will impact the views of people living on the east side of the 360.

[AustinGuy]

21/W also has very, very high condo fees in relation to most of the other developments. It is listed at 61 cents/sq ft/month according to:

http://www.austintowers.net/Austin_Downtown/files/tag-condo-fees.html

Of course, everytime I've stayed at a W, I think I've had the thought in the back of my head about how cool it would be to live there.

[pato79]

21/W also has very, very high condo fees in relation to most of the other developments. It is listed at 61 cents/sq ft/month according to:

http://www.austintowers.net/Austin_Downtown/files/tag-condo-fees.html

Of course, everytime I've stayed at a W, I think I've had the thought in the back of my head about how cool it would be to live there.

Exactly!
My friend is getting a 3 bedroom at the W, and when we talk about what its going to be like for him, his HOA fee isnt that big of a topic. That is what happens when you can buy a condo for over a million.

P.S. Topics that do come up are how me and some other friends are going to sign things to his condo from the pool and bar. (We have identical crap handwriting)

[paulsjv]

21/W also has very, very high condo fees in relation to most of the other developments. It is listed at 61 cents/sq ft/month according to:

http://www.austintowers.net/Austin_Downtown/files/tag-condo-fees.html

Of course, everytime I've stayed at a W, I think I've had the thought in the back of my head about how cool it would be to live there.

For that 900sq/ft place that's $549 HOA fees a month!! Plus property taxes (what would that be a month?) That's WAY more than I make a month. *Sniff* Again, I wonder what these people do or have done to get this kind of money? :)

[MichaelB]

Of course, everytime I've stayed at a W, I think I've had the thought in the back of my head about how cool it would be to live there.

Yep, I agree, and that is the point! It is a great property to stay at. So folks who live there get the appeal of the "cool", the prestige, the services.... not to mention localtion. I would love that location! Like Four Season, is a known comoditiy that has a reputation for quality and service... but ( to me) with a cooler vibe. I get it.... well, I can't right now... but I would love to!

Question... does anyone know the average price increase per floor? Is there a rule of thumb?

[Raining Inside]

The Statesman is reporting that construction starts Monday!

http://www.statesman.com/business/content/business/stories/realestate/05/03/0503block21.html

Block 21 construction to start Monday
$295 million project in downtown Austin to have W hotel, 165 condos, 'Austin City Limits' venue.

By Shonda Novak
AMERICAN-STATESMAN STAFF
Saturday, May 03, 2008

With financing in place, construction is finally ready to begin Monday on a high-profile downtown development with a 36-story W hotel, condominiums and a new "Austin City Limits" venue.

Joint-venture partner Stratus Properties Inc. closed Friday on financing for its Block 21 project, which will cost $295 million, up from an earlier estimate of $260 million.

The higher costs are related to 70,000 square feet being added to the original project and a "modest increase" in building costs, Stratus chairman and CEO Beau Armstrong said.

The financing paves the way for crews to arrive Monday to start excavation work for three levels of underground parking, Armstrong said. The entire project is expected to be completed in three years.

The project officially kicked off seven months ago with much fanfare and an appearance by NBA superstar-turned-businessman Earvin "Magic" Johnson.

Johnson's private equity fund, Canyon-Johnson Urban Funds LLC, is Stratus' joint venture partner in the project, planned for the block just north of City Hall.

Canyon-Johnson will contribute $74 million in equity for the development, with Stratus putting in $49 million. Los Angeles-based Canyon-Johnson, which just raised another $1 billion in capital, focuses on major urban redevelopment and revitalization projects in growing areas, such as Central Texas, as well as in ethnically diverse neighborhoods in densely populated metro areas.

In addition to the Canyon-Johnson financing, Stratus also closed Friday on a $170 million construction loan with the publicly traded Corus Bank in Chicago, Armstrong said.

In May 2007, Stratus expected to start construction on Block 21 the following September.

But Armstrong said the "sheer magnitude of the project" and a highly challenging lending market altered the timetable. The city had the right to repurchase the property if Stratus didn't start construction by April 15 but gave Stratus an extension, he said.

"It's a tough time to borrow money now, no matter who you are," Armstrong said. And though, typically, construction loans aren't the hardest part of a deal to land, "because of the turmoil in the credit markets, it became a more difficult proposition," he said.

Armstrong said that it also took time to get the necessary building and other permits from the city but that those are now in hand.

Bobby Turner, managing partner of the Canyon-Johnson Urban Fund, said Armstrong's ability to obtain financing "in probably the worst financing market in the history of this country" is a testament to the quality of the project and "really reflects on the merits of Austin."

Canyon-Johnson also is teaming with Stratus to bid on the proposed redevelopment of the nearby Green Water Treatment Plan.

The Block 21 project will be on land bounded by Second, Third, Lavaca and Guadalupe streets that Stratus bought from the city for $15 million. Plans call for a W hotel with 250 rooms, 165 condominiums and a 2,480-capacity venue for KLRU's "Austin City Limits."

Armstrong said it will take 30 months to build the hotel, for an expected fall 2010 completion, and 36 months for the last condominium to be finished, by about May 2011.

The original plan for 196 condos has changed because some buyers are combining units. Armstrong said 85 of the current 165 units are under contract with nonrefundable deposits of 10 percent of the purchase price.

The average price of the units under contract is $1.1 million, he said. Prices range from the high $400,000s to more than $3 million.

Redevelopment of the block is expected to create more than 1,000 jobs over the length of the project, according to the general contractor, Austin Commercial, plus hundreds of permanent jobs when the project opens.

Stratus estimates that the development will generate, for the city alone, $18.9 million in hotel occupancy taxes, $12.3 million in property taxes and more than $3 million in retail sales taxes.

[AustinGuy]

The average price of the units under contract is $1.1 million, he said. Prices range from the high $400,000s to more than $3 million.



WOW! That is a pretty amazing statistic and bodes well for the other high end projects in town. It'll be great having a W here. I can almost guarantee whatever restaurant & bar they have in it will be great.

[Raining Inside]

I know this image is nothing new, but I think it's worth another look.

http://img.coxnewsweb.com/B/01/55/09/image_7009551.jpg

[chancla]

I figured something was up...I saw a bunch of white Ford trucks and guys with hard hats on the site, yesterday.

[greenbelt]

:previous:
Awesome news about the Monday start date. I walk by there almost daily. Interesting about the height as Kev mentioned. It'll be like 2 360 condos within a few blocks of each other. And that pic ^ says a lot. Look how it towers over AMILI II...which looks fairly tall there now.

[Greggklar]

Was down there today showing condos to a buyer, still no activity on the "W" site? Was surprised, paper said Monday (today) was the start date. Maybe the rain delayed them?

[Raining Inside]

It's not so soggy today. Maybe today will be the day we finally see some action at the site.

[priller]

And they're off!

http://farm4.static.flickr.com/3015/2471905306_2f4ee3fa6e_o.jpg

http://farm4.static.flickr.com/3128/2471905694_4bf37f02a2_o.jpg

http://farm3.static.flickr.com/2179/2471082941_78122aa57f_o.jpg

[JAM]

:previous: Last pic of just a little dirt moved and no dozer to be seen made me think for just a brief moment the W must have hired some rancher to bring his personal dozer out to move some dirt around just so they could keep their word of "breaking" ground this week. LOL :haha:

[OfCourse]

Neat. I'm excited about this one.

[austintilIdie]

The 2 CSC buildings belong somewhere along Mopac and AMLI 1 belongs in West Campus, as far as downtown density and vertical development is concerned...though they're fairly new, they're wasted 2nd St. lots in my opinion, given the ease of Austonian, Altavida, 360, W coming to fruition in that part of downtown.

And we await word of the Seaholm Museum Tower, the Post Office block and Ovation.

[Jdawgboy]

Given the concerns about the national economy, Im wondering if the W might be the last large project to break ground for about 6 months or so? In the artical that came out about it, they mentioned it was a bit tight trying to get the full financing that they needed. So would anybody like to take a shot at wether we will be seeing groundbreaking for some of the other projects within 6 months or is it too early to tell about what is going to happen?

[KevinFromTexas]

I'd say some of the bigger projects will probably be a little later, but some of the smaller projects will probably move ahead. The Concordia redevelopment seems to have some momentum. I would expect West Campus to keep moving forward with stuff. There have been less announcements there, but construction seems to be in full swing on a ton of projects.

[JAM]

Given the concerns about the national economy, Im wondering if the W might be the last large project to break ground for about 6 months or so? In the artical that came out about it, they mentioned it was a bit tight trying to get the full financing that they needed. So would anybody like to take a shot at wether we will be seeing groundbreaking for some of the other projects within 6 months or is it too early to tell about what is going to happen?

In the grand scheme of things, 6 months wouldn't be too bad. Hopefully it wouldn't be longer than that!

[KevinFromTexas]

We'll still have 21Rio, Spring, The Austonian, Altavida and W Austin hotel & Residences to see rise, and the facade work on Legacy. So it won't be too boring around here. :cool:

[deerhoof]

don't forget the four seasons

[Mopacs]

As much as I love and have becomed spoiled with the constant development, I think a respite from new construction would be beneficial in the long-run. Too much-too soon isnt particularly healthy.

[priller]

Agreed, we are kind of spoiled now. Remember when we used to get excited when 360's crane was being raised? Now there are almost too many to keep track of.

While a respite from condo construction is probably warranted, I think most of the new downtown buildings planning to start in 2009 are hotels, which are sorely needed. Marriott, Westin, 21c and Van Zandt. At least some of these really need to happen.

[GoldenBoot]

...Im wondering if the W might be the last large project to break ground for about 6 months or so...

You're probably correct. No "large-scale" project is projected to break ground until late this year, anyway.

As I mentioned a few years ago when all of these proposals were hitting the boards, we we’re going to be lucky if we see half to two-thirds of the larger proposals built. And it may still end up that way. However, there is always that option to downsize a number of projects; but that may make those projects economically unfeasible.

I believe the 29-story Hotel Van Zandt may be the first large-scale proposal to fall off the boards, or be downsized (i.e., axe the condo. component).

And, sadly, as many have assessed in this forum, Tom Stacy’s proposals for his block at 5th/6th & Congress may also see the axe. Still, I believe he will still construct something on that property; but we’ll have to see if it will consist of anything remotely close to his original proposal of two towers – one, 420’ and the other, 830’.

[Saddle Man]

There's a water main break at the W site.

http://austinist.com/2008/06/23/the_w_is_for_water_main_break.php#comments

[alexjon]

Chalk that up to "not good for foundation work"

[priller]

I stopped by this morning on the way to work. They were still working where they could, shoring up the sides. A pump was pumping away, getting rid of the water. It didn't look like it was going to slow them down very much.

I'll post pictures later today.

[alexjon]

How far down does bedrock start? If it shows up pretty quickly, then this should be a quick fix

[priller]

Lake W:

http://farm4.static.flickr.com/3027/2608433328_527174872f_o.jpg


Hydrant on the broken line:

http://farm4.static.flickr.com/3043/2607596351_024ed6e15d_o.jpg


The water pump:

http://farm4.static.flickr.com/3049/2607595845_2964678094_o.jpg


"What do we do now?"

http://farm4.static.flickr.com/3106/2608426124_e3c659975e_o.jpg

[austlar1]

I wondered what was behind that fence.

[austex]

http://farm4.static.flickr.com/3076/2702042987_91895aeb5b_o.jpg

http://farm4.static.flickr.com/3090/2702859260_12b0ffa45c_o.jpg

http://farm4.static.flickr.com/3052/2702040723_a2207f4b03_o.jpg

ALL the above By PRILLER 7-25-2008

[MichaelB]

That's one heck of a hole! Go Bedrock!

[brandon]

When looking at block21residences.com, all of the bar and restaurant areas look to be on the bottom floors. Wouldn't it make sense to have either a club or restaurant on the top floor to capitalize on the view? It is too bad that Austin doesn't have many public places to see downtown from high up like other Texas cities do.

[GoldenBoot]

When looking at block21residences.com, all of the bar and restaurant areas look to be on the bottom floors. Wouldn't it make sense to have either a club or restaurant on the top floor to capitalize on the view? It is too bad that Austin doesn't have many public places to see downtown from high up like other Texas cities do.

What??? There are plenty of bars which have rooftop decks in downtown Austin!

[KevinFromTexas]

What??? There are plenty of bars which have rooftop decks in downtown Austin!

Yes, but I demand skyscraper observation decks! I do wish Austin could get one.

[sakyle04]

Yes, but I demand skyscraper observation decks! I do wish Austin could get one.

expensive real estate up there...

the buildings that i have been in that have ob. decks all have dedicated areas and elevators for the touristy types (and us) who like to go up... rockefeller in NYC sears in CHI, etc...

that makes it quite the cost addition I am sure... i wonder what the cost of an extra elevator would be to a new skyscraper - both in its own cost and the lost square footage throughout the building (not to mention the top floor) and how they could possibly make that cost effective...

[brandon]

As far as making it cost effective, I'm sure the rent generated from a high end restaurant one one floor and a bar/club on the floor above that should justify the additional building expense. The elevator(s) accessing the top attractions could be in the main shaft of the building with the regular elevators. I recently got back from Vegas and was amazed with the views that went along with some of the bars/restaurants at the top of the nice hotels. The W in Dallas utilizes the top floor, why not Austin?

[sakyle04]

As far as making it cost effective, I'm sure the rent generated from a high end restaurant one one floor and a bar/club on the floor above that should justify the additional building expense. The elevator(s) accessing the top attractions could be in the main shaft of the building with the regular elevators. I recently got back from Vegas and was amazed with the views that went along with some of the bars/restaurants at the top of the nice hotels. The W in Dallas utilizes the top floor, why not Austin?

ya, a restaurant could probably make a go at it. rents up there will be prohibitively expensive to some extent, meaning that it has to be subsidized on some level by the buidling owner - sort of an added amenity. that makes a hotel the best-case operator, since they own the building and have an interest in drawing people in for ancillary revenues. also, they lose much less potential revenue in giving up a floor, since the 8th and 38th floors typically have the same room rates, save for any penthouse or presidential suites (which could easily be placed on the top floor of rooms - directly below an observation deck...).

still, a restaurant is not a true observation deck in that it takes spending some big cash on dinner in order to enjoy the views. a bar might solve some of those issues, but it still leaves families out in the cold.

[M1EK]

Do you typically see bars/restaurants on top of residential buildings in other cities? I've certainly never been to one - they've always been on top of offices. I would think the noise for the people living near the top would make this a non-starter since those are the folks you're asking the most money of.

[AustinGuy]

Well, you do see them at the top of hotels quite frequently, and since the W is a weird hotel/condo hybrid, it could make some sense. I haven't looked at the W plans, but I suppose the top level is condo penthouses which they sold for a lot of $$$.

[KevinFromTexas]

It doesn't make sense to put one in a residential building. It would take either an office building or a hotel for us to get one, unless we actually lucked out and had an observation tower like San Antonio and Dallas.

[priller]

There is one at the top of the Hilton Garden Inn that's actually quite nice and almost never crowded. And it has a pretty decent view from 18 floors up. We like to hang out there. A quiet oasis on 6th street.

[ATXboom]

^^^ The food at that place is fantastic. Never crowded. Total hidden gem.

If they branded/marketed that place right it would be packed.

[priller]

Yeah, it's hard to understand how there can be a hidden gem on Sixth St, but there it is.

[brandon]

Do you typically see bars/restaurants on top of residential buildings in other cities? I've certainly never been to one - they've always been on top of offices. I would think the noise for the people living near the top would make this a non-starter since those are the folks you're asking the most money of.

I thought about the noise aspect too, however, the W in Dallas has a bar on the 33rd floor and residences as well. Not sure how that all works out. The W in Dallas could warrant rooftop attractions more due to its location relative to downtown. It is a several blocks away from the core of DT which gives it more of an all encompassing view of the skyline, very similar to the placement of Reunion Tower. Another reason could be there is enough action street level with the Warehouse District just blocks away.

[Jdawgboy]

I think it would have to take some sort of tourst attraction in the downtown area to be built with a large observation tower. Possibly in the green water Site or seaholm, but you will need investors that would be willing to put in, and have the city council behind it. Start pushing letters through the net to the council members and see if you get any replies back.

[alexjon]

There are plenty of office towers going up in the future that will surely have an observation level. I'd also reason there's a good chance at a high-level restaurant (not top floor unless it's a hotel, of course).

[JRCool]

Ya the whole "they wouldn't put one on top of a residential building" thing doesn't work, because like someone said, they have the Ghost Bar atop the residences at the W in Dallas, and that's a very popular bar.

W's always have a signature bar, and often times it is on or near the top floor. I wouldn't be suprised at all if there is one at the top of the W Austin.

[austex]

The first of the support columns are ready to go. The rebar cages are already in the pit.

[Apple][]

W's always have a signature bar, and often times it is on or near the top floor. I wouldn't be suprised at all if there is one at the top of the W Austin.

I think plans are pretty locked at this point ... there will be at least three bars - I believe two on ground floor and one by the pool deck on 4. I imagine the bliss spa will also have a juice bar, but there won't be one on the top of the building :/

[Blakesalot!]

They now have the bases for both cranes on site. Maybe they'll install them this week.

[KevinFromTexas]

If I know crane construction, and they really are that close to doing it, then probably next Sunday. They usually put up cranes in the morning on that day.