[hismasterplan]

I live in the neighborhood the Texas Monthly building shadows over. It's not a pretty sight at all. I'm not going to get completely cynical about it until it's done but it's still a big wall that can be seen from my room and from the street.

[MichaelB]

I live in the neighborhood the Texas Monthly building shadows over. It's not a pretty sight at all. I'm not going to get completely cynical about it until it's done but it's still a big wall that can be seen from my room and from the street.

Check out the renderings.... ( sorry I don't have them handy) I believe that big wall of the Texas Monthly building was intended to be a "green" wall. If so, I think it is a pretty good way to deal with a parking structure.

[Northcrossed]

Could it be that they are reducing the number of condos to make way for this additional office space? It seems as if the condo aspect is the one they are more concerned about at the moment judging from the article that says sales have halted since Nov.

That brings-up an interesting technicality, depending upon where they're adding/substituting the office floor. If you signed a contract for a unit on the Xth floor and they add offices below the condo section then you're now on the (X+1)th floor and have grounds to cancel and get your deposit back unless there's an identical unit unsold on the former (X-1)th floor, which now moves-up to the new Xth floor so they can still honor the contract. I doubt they'd add the offices above the penthouse level. But if they didn't sell any units on the lowest condo floor they could swap-out those condos for offices and you're still on the Xth. But even if they did sell units on the lowest condo floor some buyers would like getting a 1 floor "UPgrade" (literally) and wouldn't want out, and the developer might be willing to accept the loss of the other lowest-floor buyers who did want to back-out in exchange for the long-term rental income from the office floor.

Until they say where the office floor is going there are too many variations and scenarios to speculate about. Unless you're really obsessed...

[priller]

I noticed a few parts of the building are just now visible above the fences at the W site.

http://farm4.static.flickr.com/3515/3276073978_9e1fea521c_o.jpg

http://farm4.static.flickr.com/3417/3275254543_ee236a4965_o.jpg


A very busy place today.

http://farm4.static.flickr.com/3374/3275264393_e09c15499c_b.jpg

[Jdawgboy]

So with office floors added that would possibly mean higher floor plating for those floors so would again mean a possible increase in the building's overall height???::slob:

[chewy]

Ah! Isn't it nice to shed the cloak of Lurk! So, do tell, redesign, eh? All I can say is "Hallelujah" ! Do you know who is doing it? Do you know if it will maintain a residential component?

New owner, new design. It will still be a mixed use condo job. I'm with a local AE firm working on Fondren as well as their Townhouse/Condo project on the lake side and east end of the AMLI development at Riverside and Lakeshore. AMLI's in construction, but our part is on hold. Pricing approved, but on hold.

[KevinFromTexas]

^Has the height changed for La Vista on Lavaca/Fondren? The original height was supposed to be 119 feet tall with 8 floors. Can you say if that is different now?

[KevinFromTexas]

I found a website for the Capital Ridge office project that is slated for Loop 360 and Bee Cave Road.

http://capitalridgeaustin.com/

[KevinFromTexas]

Cool photo thread here guys. 6th Street, downtown and The Drag.

Plenty of Austin weirdness and goodness.
http://forum.skyscraperpage.com/showthread.php?p=4090478#post4090478

[zx14]

Austonian looks like it should be ready to start floor 34 soon. Will it pass up the Altavida Ashton by the end of the month?

[shanny]

on a lighter note, any new pics from this weekend? :)

[chewy]

^Has the height changed for La Vista on Lavaca/Fondren? The original height was supposed to be 119 feet tall with 8 floors. Can you say if that is different now?

You're looking at a tentative height of 143' and change.

[Kevinb]

on a lighter note, any new pics from this weekend? :)

Here is an amazing sunset over Laby Bird Lake from Friday:


http://img148.imageshack.us/img148/248/sunsetcloudssmxq0.jpg (http://imageshack.us)
http://img148.imageshack.us/img148/sunsetcloudssmxq0.jpg/1/w1162.png (http://g.imageshack.us/img148/sunsetcloudssmxq0.jpg/1/)

[laro3]

hey guys just got back from austin,what an awesome city,friendly people and good BBQ,i went to the original salt lick.the downtown looked like it had alot of construction going up.texans are lucky the speed limit is 70,i live 10 miles from downtown chicago on the south side,it takes me an average of about just under 2 hours to get home,speed limit 55,so you still got it good to us,longest this year was when we had a snow storm i was in the car for nine hours,people were pissing all over the expressway because they couldnt hold it.keep building austin!!!!

[tgbAustinite]

Here is an amazing sunset over Laby Bird Lake from Friday:


http://img148.imageshack.us/img148/248/sunsetcloudssmxq0.jpg (http://imageshack.us)
http://img148.imageshack.us/img148/sunsetcloudssmxq0.jpg/1/w1162.png (http://g.imageshack.us/img148/sunsetcloudssmxq0.jpg/1/)


stunning photo! thanks for sharing.

[austin242]

Great pics :tup:

There is many reasons why west austin should not have a nice new big highway like for ex: Money it cost more to build a highway in west Austin, Beauty it most likely will destroy the beauty, and it will help destroy the aquifer. Which the aquifer does not just affect west Austinites it afects everyone from North Austin all the way down to San Antonio. And don't build they will come slowly build it and they come even faster. I don't want to see those hill tops disapear during my life time and certainly not my kids either the longer they stay the better.

[Strayone]

Well finally the time has come, tonight I get to take a look at my clients 41st floor 360 condo. The condo has West and South views so I can get some good photos of Spring. I will surely be posting pictures sometime this evening. I will get some daylight and night time shots. Hopefully some pool level stuff as well...I will probably even take pix of the parking garage before I'm through!

[jeremyz]

Those must be my new next door neighbors.

[jeremyz]

Here are some random pictures I've been meaning to post for a while

Some nighttime pictures from a few months ago
http://img21.imageshack.us/img21/2886/dsc0143xf1.jpg

http://img19.imageshack.us/img19/8273/dsc0147bw3.jpg

My beagle on the balcony
http://img17.imageshack.us/img17/1995/dsc0397dq8.jpg

From about a week ago. The Austonian should reach the Ashton's height with 3 or 4 more floors.
http://img21.imageshack.us/img21/9623/dsc0009yd6.jpg

The palm tree on the Spring is visible after topping out
http://img16.imageshack.us/img16/34/dsc0018jx6.jpg
http://img18.imageshack.us/img18/5121/dsc0016dm5.jpg

[TXLove]

^^^ Nice view you have there and great shots!!!!

[priller]

Very nice! What a view! Spring actually looks short from there.

[hookem]

jeremyz, those are some incredible views! I wonder what your beagle thought about that balcony... do dogs have vertigo/fear of heights?

Ever think about putting up a webcam ;) you have an awesome view of the Austonian construction...

[jeremyz]

Both of my dogs like to go out on the balcony. They don't seem to be afraid, but they seem to respect that they shouldn't be jumping around.

I've been thinking about putting up a webcam, but I haven't got around to it yet. One of the nice things about the 360 is that we have a pretty decent internet connection, so I could host a webcam site easily (I've seen about 35Mbps down and 28Mbps up; it's a good deal for the $12 of HOA fees a month).

[Wheelingman04]

Friggin awesome city.

[SecretAgentMan]

Friggin awesome city.

Thanks for all the compliments. Maybe it is time to add Austin to the list in your footer.

[Strayone]

Jeremy is a tough act to follow but here goes. These are from the 41st floor West side of 360.
Spring
http://i131.photobucket.com/albums/p302/strayone61/IMG_1261.jpg
My friend Suzanne in the living room
http://i131.photobucket.com/albums/p302/strayone61/IMG_1256.jpg
The Monarch
http://i131.photobucket.com/albums/p302/strayone61/IMG_1259.jpg
Sunset and the lake
http://i131.photobucket.com/albums/p302/strayone61/IMG_1270.jpg
North view
http://i131.photobucket.com/albums/p302/strayone61/IMG_1258.jpg
Living room view
http://i131.photobucket.com/albums/p302/strayone61/IMG_1268.jpg
UT tower
http://i131.photobucket.com/albums/p302/strayone61/IMG_1288.jpg
Dusk
http://i131.photobucket.com/albums/p302/strayone61/IMG_1286.jpg
Windows aren't dirty just the camera!
http://i131.photobucket.com/albums/p302/strayone61/IMG_1275.jpg
Party room
http://i131.photobucket.com/albums/p302/strayone61/IMG_1277.jpg
Lap pool
http://i131.photobucket.com/albums/p302/strayone61/IMG_1279.jpg

MY friends ok'd these photo's being posted here. I had a great time, geez it seemed high...I am officially afraid of heights it seems.

[TXLove]

Great shots also Strayone!!!!! Thanks

[Northcrossed]

Spring tops out; on track for July delivery
Austin Business Journal

http://www.bizjournals.com/austin/stories/2009/02/16/daily45.html

http://assets.bizjournals.com/story_image/224598-0-0-1.jpg
The Spring Condominium will celebrate its topping out Feb. 24.

The 42-story project at 300 Bowie St. began construction in 2007 and will be the first downtown Austin condo tower completed this year when its delivered in July. The project has pre-sold 55 percent of its 246 units, according to one of the development partners.

Spring Austin Partners and Hensel Phelps Construction Co. are working with Vancouver-based architect Foad Rafil. The condo’s interiors are designed by Austin’s Dick Clark Architecture, and local artists Jason Lawson, Leigh Wyatt and Ryah Christensen have been commissioned to design parts of Spring’s lobby.

[priller]

Here's another Flickr member who just started taking some construction pics. And he seems to have gotten pics of some of the people in charge. I guess he doesn't meekly wander around the periphery of the projects like I do.

I can't link directly to his photos, but here's the main page for his set:

http://www.flickr.com/photos/stevehopson/sets/72157613711090407/

[shanny]

So I'm watching Texas / Oklahoma on espn...as they cut to commercial they show 6th street with a great view of the frost tower and the Austonian!!!!

[migol24]

Here's another Flickr member who just started taking some construction pics. And he seems to have gotten pics of some of the people in charge. I guess he doesn't meekly wander around the periphery of the projects like I do.

I can't link directly to his photos, but here's the main page for his set:

http://www.flickr.com/photos/stevehopson/sets/72157613711090407/dude, i like your pics way better.

[StoOgE]

So I'm watching Texas / Oklahoma on espn...as they cut to commercial they show 6th street with a great view of the frost tower and the Austonian!!!!

I saw that too, it was a really cool shot of downtown.

Also, OU sucks.

[Wheelingman04]

Thanks for all the compliments. Maybe it is time to add Austin to the list in your footer.

Maybe:D

[priller]

A few from early this evening:

http://farm4.static.flickr.com/3500/3302085495_8f13806a6c_o.jpg

http://farm4.static.flickr.com/3583/3302085877_cddf76cc9e_o.jpg

http://farm4.static.flickr.com/3581/3302086269_a854e58117_o.jpg

http://farm4.static.flickr.com/3346/3302917906_2493c18d40_o.jpg

http://farm4.static.flickr.com/3321/3302918758_4b0624d44a_o.jpg

[colemonkee]

priller, that first shot could be the cover to your coffee table book of Austin photography!!

[Smuttynose1]

Hey everybody, by way of introduction, I'm Mark and I'm from New Hampshire but currently live in Boston. I've been checking out this forum for a while. I'm considering moving to Austin to attend UT for grad school in the fall. I had a chance to check out your city this past weekend. For what it's worth, I wanted to share a few observations and hope maybe you guys could help me with a few questions I had.

First, the good things...
-The Capitol building is extraordinary and is so well framed by Congress Street. Represents Texas well.
-Frost Tower is a beautiful skyscraper and I think many cities would kill for it.
-I got a kick out of the sidewalks with steps built into them (common over in the warehouse district). Not a common site in Boston.
-Beer prices and selection. As a beer guy, I was pretty impressed with the beer variety at most pubs - Ginger Man and Flying Saucer were stand-outs, good selection of breweries as well.
-UT has a beautiful campus. Loved all the statues and fountains. The sightline from the center of campus across to the Capitol was pretty impressive.
-Loved the Texas pride. I know it rubs some people wrong, but I really appreciated it. People are too apathetic these days.

And the Not so Good.
-My single biggest complaint about the city is how dominant automobiles are.
I know it's Texas, but dear God people, this is ridiculous. I had a chance to visit both Mozart's Coffee and the Oasis, which were both great places, but both were busy at the time so satellite parking lots were utilized. In both cases, these parking lots were no further than 50 to 100 yards away from the building itself. However, perfectly healthy-appearing people lined up to take golf cart rides to get to the building b/c they couldn't manage the walk. It just struck me as crazy. I don't see how public transport or a walkable downtown can possibly suceed in Austin if residents there are so averse to the act of walking.
-The car also dominates downtown Austin, where pedestrians appear to be loathed. I was shocked at how wide the streets were and how fast traffic streamed through downtown. With a few exceptions, there doesn't seem to be any effort made to make the environment even moderately pedestrian friendly. South Congress is particularly ridiculous. You literally have to stake out one side of the street and stay there. Austin should literally set aside a lane from every road downtown and dedicate that space to wider sidewalks or streetcars. Traffic might back up a bit, but it's downtown, traffic is supposed to back up.
-I found public transportation in Austin to be severely lacking. I understand that Austin has grown exponentially and hasn't yet built a light rail system, but even the existing bus system is painful. We attempted to take the #7 bus from UT to downtown but the wait was so long (we hung out for about 20 minutes) that we gave up and hiked back. Even the well advertized Airport Flyer bus, the city's only public transportation link to its airport so far as I could tell, runs only every 40 minutes! I'd love to see light rail in Austin, but a decent bus system is important as well.
-The river/lake front has a nice trail system but there doesn't seem to be much else to lure people down there - few restaurants, pubs, etc. The shore opposite downtown is particularly treacherous with sprawling offices and parking lots. Are there development plans underway here?

Basically, I spent four days in the city and I know I'm no expert on Austin, but these were just my immediate observations. I hope I didn't dwell too much on the negatives, I just found it very difficult to get around the city without a car. Overall I really liked Austin, the people and the nightlife, and hope to become a resident in the fall.

[nixcity]

^Well coming from Boston those issues you are talking about must be blaring. The strides toward better transportation and better access to pedestrians is increasing as we better learn to manage and increase density. It seems that people choose to walk as excercise more than necesity. That being said Austin is a great place to live and would be a solid choice to continue your education. I can't imagine leaving for the reasons you stated above and so many others.

[hookem]

^Welcome to Texas... or really, the sunbelt cities in general. The car culture will take some getting used to. There is some slow improvement being made, but it's not going to change significantly for some time. It's just a different part of America.

[M1EK]

For the love of god, don't go anywhere else in Texas, or you may collapse into a black hole of despair.

As for the Oasis & Mozart's, both are heavily tilted towards suburbanites (Mozart's a bit less, but still more than something in the downtown core).

[priller]

:previous: Ha ha, isn't that the truth!

Mark, I think you're take on it is pretty accurate. Keep in mind that Austin is in the midst of a transition -- from a more typical sun-belt sprawling suburbia to actually having a livable urban core. And really we're just at the beginning stages of that transition. Living downtown in Austin was a rare thing just a few years ago.

But transportation is the big sore spot here. It's not really up to where it should be, and it always seems to be a contentious issue (just read the transportation thread).

[M1EK]

I didn't see him saying he hit any of the newer development downtown either. Did you try walking on 2nd street at all?

[MichaelB]

Hey everybody, by way of introduction, I'm Mark and I'm from New Hampshire but currently live in Boston. I've been checking out this forum for a while. I'm considering moving to Austin to attend UT for grad school in the fall. I had a chance to check out your city this past weekend. For what it's worth, I wanted to share a few observations and hope maybe you guys could help me with a few questions I had.

First, the good things...
-The Capitol building is extraordinary and is so well framed by Congress Street. Represents Texas well.
-Frost Tower is a beautiful skyscraper and I think many cities would kill for it.
-I got a kick out of the sidewalks with steps built into them (common over in the warehouse district). Not a common site in Boston.
-Beer prices and selection. As a beer guy, I was pretty impressed with the beer variety at most pubs - Ginger Man and Flying Saucer were stand-outs, good selection of breweries as well.
-UT has a beautiful campus. Loved all the statues and fountains. The sightline from the center of campus across to the Capitol was pretty impressive.
-Loved the Texas pride. I know it rubs some people wrong, but I really appreciated it. People are too apathetic these days.

And the Not so Good.
-My single biggest complaint about the city is how dominant automobiles are.
I know it's Texas, but dear God people, this is ridiculous. I had a chance to visit both Mozart's Coffee and the Oasis, which were both great places, but both were busy at the time so satellite parking lots were utilized. In both cases, these parking lots were no further than 50 to 100 yards away from the building itself. However, perfectly healthy-appearing people lined up to take golf cart rides to get to the building b/c they couldn't manage the walk. It just struck me as crazy. I don't see how public transport or a walkable downtown can possibly suceed in Austin if residents there are so averse to the act of walking.
-The car also dominates downtown Austin, where pedestrians appear to be loathed. I was shocked at how wide the streets were and how fast traffic streamed through downtown. With a few exceptions, there doesn't seem to be any effort made to make the environment even moderately pedestrian friendly. South Congress is particularly ridiculous. You literally have to stake out one side of the street and stay there. Austin should literally set aside a lane from every road downtown and dedicate that space to wider sidewalks or streetcars. Traffic might back up a bit, but it's downtown, traffic is supposed to back up.
-I found public transportation in Austin to be severely lacking. I understand that Austin has grown exponentially and hasn't yet built a light rail system, but even the existing bus system is painful. We attempted to take the #7 bus from UT to downtown but the wait was so long (we hung out for about 20 minutes) that we gave up and hiked back. Even the well advertized Airport Flyer bus, the city's only public transportation link to its airport so far as I could tell, runs only every 40 minutes! I'd love to see light rail in Austin, but a decent bus system is important as well.
-The river/lake front has a nice trail system but there doesn't seem to be much else to lure people down there - few restaurants, pubs, etc. The shore opposite downtown is particularly treacherous with sprawling offices and parking lots. Are there development plans underway here?

Basically, I spent four days in the city and I know I'm no expert on Austin, but these were just my immediate observations. I hope I didn't dwell too much on the negatives, I just found it very difficult to get around the city without a car. Overall I really liked Austin, the people and the nightlife, and hope to become a resident in the fall.

Oh, just come on. It will be fine! Once you are entrenched in central Austin, you will find it easy to get around. You can live rather central and exist on a bike. The bus system is not great, but works if you are UT based... helps that they have their own routes. As for town lake. There is only one stretch at this point from Congress to the west that isn't great, that is bet. Congress and 1st. Sorry you found that one! And yes, the only attraction to town lake is town lake. That needs to stay that way.

just as a quick by the by.... Boston, really? That town has the crazyest ass expressways and drivers I have every seen!!!!!!:haha:

Just get packin'. UT is a great place for Grad School.

[Smuttynose1]

^Well coming from Boston those issues you are talking about must be blaring. The strides toward better transportation and better access to pedestrians is increasing as we better learn to manage and increase density. It seems that people choose to walk as excercise more than necesity. That being said Austin is a great place to live and would be a solid choice to continue your education. I can't imagine leaving for the reasons you stated above and so many others.

I forgot to mention that there is a huge buzz about Austin up in this area. My personal perception is that there isn't any Western/Sun belt city as well regarded as Austin, save for San Francisco and maybe Seattle and Portland. I'm not sure if its the music scene or the more laid back atmosphere or what, but people's faces would literally light up when I told them I was going to Austin. Nobody in Boston had a bad word to say about the city (although some people did like to rip on Texas in general). So that might have heightened my expectations a bit.

Based on all the buzz and 'The Greenest City' awards, I half expected a hyper-environmentally-sensitive Berkeley kind of atmosphere. So the car craze kind of threw me off.

For the love of god, don't go anywhere else in Texas, or you may collapse into a black hole of despair.

Haha, I actually had a chance to visit Dallas this summer for a friend's wedding. The thing about Dallas is that when you tell people you're going there, they tell you about the crappy business trip they took there last year where they were bored out of their mind. With apologizes to Dallas, nobody gets really excited when you say you're going there. So when I went, I had pretty low expectations. I came away relatively impressed - the train system is pretty efficient and seems to be expanding rapidly, Uptown was a great area, and the city seemed to be investing a lot in civic structures. I liked Austin better, but Dallas really seemed to be on the right track. On a side note, the Dallas suburbs (that I saw) are extremely depressing.

I didn't see him saying he hit any of the newer development downtown either. Did you try walking on 2nd street at all?

A glaring omission. The development in downtown Austin, particularly considering the economic environment, is insane. Just insane. I did like 2nd Street (not as wide) but I think the jury's still out, until that massive project under construction (near City Hall) develops to see how that interacts with the street.


just as a quick by the by.... Boston, really? That town has the crazyest ass expressways and drivers I have every seen!!!!!!:haha:

The popular thing to do in Boston is bitch about the T. But I would venture that it's probably in the Top 5 U.S. transit systems for convenience and efficiency. Sure, it's a little dirty and if you take the Green Line during rush hour you have to accept the fact that you'll be molested a little, but you can generally rely on it. So as bad as the traffic is, and it is terrible, the T is the city's saving grace.

-One more question, is there any plan to put up a traffic island or a greenway running down the center of Congress Street? Seeing as how it seems to be the Main Street of Texas, it seems like it could use something. And from a pedestrian perspective, that street, and particularly South Congress, desperately needs something.

[Northcrossed]

South Congress is particularly ridiculous. You literally have to stake out one side of the street and stay there. Austin should literally set aside a lane from every road downtown and dedicate that space to wider sidewalks or streetcars. Traffic might back up a bit, but it's downtown, traffic is supposed to back up.
-I found public transportation in Austin to be severely lacking. I understand that Austin has grown exponentially and hasn't yet built a light rail system....

As you wish: Here's South Congress, narrower and with light rail (okay, a trolley) sometime after 1911...
http://www.ci.austin.tx.us/library/ahc/streets/images/C00621lg.jpg
http://www.ci.austin.tx.us/library/ahc/streets/images/C00621lg.jpg

The camera would have been directly in front of the Austin Motel location. The two 2-story buildings on the left are at SoCo & Nellie (Academy Drive is now the cross street on the east side). Google streetview shows businesses named Pink and Blackmail as tennants.

http://maps.google.com/maps?hl=en&q=nellie+%26+south+congress,+austin,+texas&um=1&ie=UTF-8&split=0&gl=us&ei=RsCkSaPIMoyVngfM4oSWBQ&sa=X&oi=geocode_result&resnum=1&ct=title

[NThomas]

A few from early this evening:

http://farm4.static.flickr.com/3500/3302085495_8f13806a6c_o.jpg



This shot is amazing! :tup: Where was it taken? NEC E 3rd St & San Jacinto Blvd?

[Northcrossed]

Spring holds a high-rise party

Amid uncertain condo market, 42-story tower celebrates start of construction its top floor.

By Shonda Novak
AMERICAN-STATESMAN STAFF

http://www.statesman.com/business/content/business/stories/other/02/25/0225spring.html

Developers of the Spring condominium tower held a high-rise party Tuesday night to celebrate work under way on the final floor of the 42-story, $125 million project. About 55 percent of the 248 units in the building, a block south of Whole Foods Market, are under contract with 10 percent nonrefundable deposits, said Diana Zuniga, one of Spring's developers. With IBC Bank in place as the preferred lender, Zuniga said everyone who wants to buy in Spring will have a loan if they qualify. She said many of the buyers are prequalified for a mortgage.

Moving day for the first residents is scheduled for late July. Meanwhile, developers of several other projects say demand continues to be strong for downtown living, though some wonder whether there will be enough buyers to fill all the units. Among Spring's occupants will be Zuniga and her 82-year mother, Gloria Zuniga, who plans to move from Laredo. Together, their individual units will take up about half the 33rd floor, Zuniga said.
Zuniga wouldn't say what she and her mother are paying for their units but said, "We were among the first buyers and got the kind of price very early buyers would get."

Prices for Spring's units range from about $285,000 to about $980,000; the penthouse, comprising the entire 42nd floor, goes for $5.5 million, Zuniga said. "There's no doubt that the economic situation has impacted sales all over Austin, including downtown," Zuniga said. "And that has to do with people being unsure about money in their own savings account, will they have a job, can they afford the payment, can you afford to buy anything." However, Zuniga said, contracts were signed for three units in the past three weeks and activity in the marketing center has been picking up since the second week in January.

In addition, Spring co-developer Larry Warshaw noted that there are no new projects on the horizon because of the downturn. That means less competition for the four projects under construction. "It takes one to two years to plan and design a project before even putting a shovel in the ground, and then two years to build it, so any new projects are three or four years away, starting from the day they get started, and nobody is getting started on planning right now at all," Warshaw said.

Devlin McNamara, a vice president with Bank of America Mortgage, a preferred lender on several other downtown condos, said developers are more willing to negotiate prices than they were as recently as last summer. Prospective buyers, McNamara said, don't think the economy has hit bottom yet, and until they feel it is turning around, "we'll continue to see things move at a slower pace in terms of signed contracts." "We have seen more activity now, but there's more tire-kicking. People are afraid to pull the trigger," he said.

At the Four Seasons Residences rising next to the Four Seasons Hotel, nearly half of the 147 units are under contract, said Brett Denton of Ardent Residential, the project's developer along with Atlanta-based Post Properties Inc. The project started with 166 condos, but some buyers have combined them, accounting for the smaller number of units. Units in the Four Seasons are priced from $400,000 to $4 million. The building is slated to open in the first quarter of 2010.

At the W Austin Hotel and Residences under construction a block north of City Hall, interest has picked up after no sales in November, December and January, said Beau Armstrong, chief executive of Stratus Properties Inc., developer of the $300 million project. Buyers recently put two units under contract, Armstrong said, and there is "good traffic through the sales office." The W Hotel, an entertainment venue and the first floor of condos will be completed in December 2010, Armstrong said, with the rest of the 159 condo units becoming available through May 2011.

Two blocks east, work is continuing at the pace of one floor a week at the Austonian, which ultimately will rise to 56 stories, becoming Austin's tallest building. Crews are now working on the 34th floor. The building is expected to open in the spring of 2010. Its 178 units start at $573,000 and go up to $8.4 million for a penthouse unit. The Austonian has declined to release information about its sales or reservations.

McNamara said Austin's diversified economy and Texas' stricter equity laws, which limit homeowners' ability to pull cash from their houses, are helping the region weather the downturn better than most other places. In addition, "We're seeing a more diverse population come in to buy condos," he said. "I would not consider downtown Austin to be overbuilt. The units will be absorbed — even the more expensive ones, ultimately." However, he said, it's a good thing that some projects have been pushed back or postponed indefinitely: "Had they broken ground and we had 1,000 units, we'd be in huge trouble."

[edited to create actual paragraphs from related sentences]

[tgbAustinite]

link to some pix from spring topping out party:

http://austintowers.net/Austin_Downtown/files/spring_austin_downtown_aerial_view.html

[KevinFromTexas]

Hey guys, I'll be away from the forum for a few days, until the 5th. Nice pics up there. I went to the Spring party too and took some photos. I'll post them when I get back on.

[shanny]

if anyone plans on going out to take pictures this weekend I am really curious to see what the view from south congress is looking like...somewhere around the austin motel.

[priller]

Some photos from this chilly and very windy morning.


Four Seasons. I didn't stop and get a picture of it, but it looks like they've also started work on the parking garage portion:

http://farm4.static.flickr.com/3416/3317108696_964b8e6d7c_o.jpg

http://farm4.static.flickr.com/3466/3317109098_9765e8316d_o.jpg

http://farm4.static.flickr.com/3588/3316282945_b8b5533d4a_o.jpg


Austonian, up to floor 35:

http://farm4.static.flickr.com/3510/3316283409_a49a8379be_o.jpg

http://farm4.static.flickr.com/3309/3316284131_a7e2893fe3_o.jpg

http://farm4.static.flickr.com/3503/3317139824_b5601f3ded_o.jpg


Glass going up on the Centerpoint office building:

http://farm4.static.flickr.com/3577/3317111422_2b8af70a03_o.jpg

http://farm4.static.flickr.com/3305/3316284609_360f6e7bd6_o.jpg

http://farm4.static.flickr.com/3562/3317111716_e82a85f743_o.jpg


Spring:

http://farm4.static.flickr.com/3474/3316313579_7b5f1f4791_o.jpg


Rebar sprouting up at the W:

http://farm4.static.flickr.com/3299/3317139374_00b3cb0614_o.jpg


Sorry for the poor quality, this was taken while driving, on the 71 to N I-35 exit ramp:

http://farm4.static.flickr.com/3624/3317228062_d4dbfb11ed_o.jpg

[KevinFromTexas]

if anyone plans on going out to take pictures this weekend I am really curious to see what the view from south congress is looking like...somewhere around the austin motel.

I took a few from along South Congress on Tuesday. I'm wanting to go downtown tomorrow so I'll get a few more from along there. The Austonian is easily peeking over the top of 100 Congress now from South Congress. The Four Seasons Residences too is now visible from Congress & Ben White.

[Mopacs]

if anyone plans on going out to take pictures this weekend I am really curious to see what the view from south congress is looking like...somewhere around the austin motel.

Here are some shots taken two weeks ago. A little dated now, but interesting views from South Congress nonetheless:

http://images44.fotki.com/v1461/photos/7/54967/7192871/DSC_8610-vi.jpg

http://images28.fotki.com/v1028/photos/7/54967/7192871/DSC_8627-vi.jpg

http://images44.fotki.com/v1461/photos/7/54967/7192871/DSC_8639-vi.jpg

http://images25.fotki.com/v945/photos/7/54967/7192871/DSC_8640-vi.jpg

http://images12.fotki.com/v202/photos/7/54967/7192871/DSC_8643-vi.jpg

http://images20.fotki.com/v368/photos/7/54967/7192871/DSC_8646-vi.jpg

http://images12.fotki.com/v211/photos/7/54967/7192871/DSC_8560-vi.jpg

http://images44.fotki.com/v1468/photos/7/54967/7192871/DSC_8561-vi.jpg

http://images42.fotki.com/v1466/photos/7/54967/7192871/DSC_8573-vi.jpg

http://images42.fotki.com/v1466/photos/7/54967/7192871/DSC_8585-vi.jpg

http://images46.fotki.com/v1453/photos/7/54967/7192871/DSC_86051-vi.jpg

http://images20.fotki.com/v384/photos/7/54967/7192871/DSC_8609-vi.jpg

Driving north on Congress...

http://images44.fotki.com/v1468/photos/7/54967/7192871/DSC_8686-vi.jpg

http://images46.fotki.com/v1453/photos/7/54967/7192871/DSC_8689-vi.jpg

http://images46.fotki.com/v1453/photos/7/54967/7192871/DSC_8697-vi.jpg

http://images44.fotki.com/v1467/photos/7/54967/7192871/DSC_8705-vi.jpg

http://images47.fotki.com/v1454/photos/7/54967/7192871/DSC_8761-vi.jpg

Spring, from the pedestrian bridge:

http://images47.fotki.com/v1479/photos/7/54967/7192871/DSC_8480-vi.jpg

Looking back, from Ceasar Chavez

http://images42.fotki.com/v1466/photos/7/54967/7192871/DSC_8839-vi.jpg

May not look like much now, but it appears The Austonian will sit prominently when viewed driving south down The Drag:

http://images29.fotki.com/v1011/photos/7/54967/7192871/DSC_84571-vi.jpg

View from NW Austin:

http://images42.fotki.com/v1466/photos/7/54967/7192871/DSC_9334-vi.jpg

[KevinFromTexas]

Oh wow, that Drag view will be nice. Almost 18 blocks away...

[jowens]

Oh wow, that Drag view will be nice. Almost 18 blocks away...


I happened to notice that this week also. It will be a very nice view!

[Scottolini]

It is over 18 blocks away. The nearest portion of the Austonian fronts 3rd Street. This photo is taken from around 23rd Street. So, it's actually about 20 blocks.:tup:

[LoneStarMike]

Great photos priller and mopacs! I've been too lazy to get out lately.

BTW priller, your new avatar looks just like my cat, Wilson (http://i241.photobucket.com/albums/ff158/LoneStarMike/Wilson01.jpg)

[priller]

It's my cat, Mojito.

[migol24]

Oh wow, that Drag view will be nice. Almost 18 blocks away...sucks! most of these views already taken i thought of months ago... too bad, i don't have a camera :D especially that very same shot from the drag.

i'm glad someone finally took a picture from the east side though...

[TXLove]

great shots both Priller and Mopacs!!!

[Northcrossed]

Dillard’s closing Highland store
Austin Business Journal - by A.J. Mistretta Online editor

http://www.bizjournals.com/austin/stories/2009/03/02/daily15.html

Dillard’s Inc. plans to close its store in Highland Mall as declining shopper demand causes it to re-examine its operations nationwide.

The store manager confirmed the closing and that store employees had been notified but said it’s unclear exactly when the closure would take place.

...

The local news is the latest blow for a struggling Highland Mall. J.C. Penney closed its doors at Highland in 2006. That large anchor space has since remained vacant, reducing traffic on that side of the mall and contributing to the decline in retailer demand in the center as a whole.

[Scottolini]

Highland Mall is screwed. Oh well, it has a ton of redevelopment potential.

[M1EK]

Highland Mall has nearly zero redevelopment opportunity - the area is very much overserved by retail compared to the population it can catch (remnant of times before there was so much retail out in the hinterlands, just like Northcross).

Without substantial increases in residential density (no, Mueller's not enough) in the local area, don't expect anything good to happen here - especially with more urban well-placed projects like the Triangle cutting off its potential air supply.

[Scottolini]

I was assuming that Highland's redevelopment would include a substantial residential component. Think Mueller, East Avenue, Crestview Station, the Triangle, etc.

[Scottolini]

And think about the commuter rail line across the street, M1EK. This is a TOD waiting to happen!;) :jester:

[M1EK]

Don't get me started, dammit. I'm at another company's office building and already depressed at, well, Huntsville.

Highland Mall won't be redeveloped in any meaningful way for a couple of decades. That's my prediction.

[Saddle Man]

It'll probably end up being a Walmart.

[JRCool]

It'll probably end up being a Walmart.

Well lets hope, if it is, that its proposed as an urban one like the northcross one, and kept that way, not scaled down to a normal, sprawling wal mart like all the rest.

I'm still so mad about that.

I mean, I'm no fan of wal mart, but if its gonna be there, why not go for the more appealing, condensed, urban one?

Stupid northcross neighborhood association or whoever they are.

[Northcrossed]

It'll probably end up being a Walmart.

^^^ Good one!

And they'll close the Northcross store and the 183/I-35 store because they're too close. That's the Walmart way.

[Saddle Man]

Is West Campus opting out of VMU?

https://www.ci.austin.tx.us/council_meetings/item_attachments.cfm?meetingid=165&itemid=9771&item=38

[M1EK]

Yes, basically - once Laura Morrison got elected, the bargain of VMU for McMansion was a goner. Write your city council members if you want, but it won't do any good; the voters spoke, and they rejected all density everywhere by putting her in office.

[StoOgE]

Well lets hope, if it is, that its proposed as an urban one like the northcross one, and kept that way, not scaled down to a normal, sprawling wal mart like all the rest.

I'm still so mad about that.

I mean, I'm no fan of wal mart, but if its gonna be there, why not go for the more appealing, condensed, urban one?

Stupid northcross neighborhood association or whoever they are.

actually, they wound up getting what they wanted, a 99K square foot walmart that is less than half the size of the original plan. More green space, less impervious cover and reduced hours.

The Walmart will also not open until some time in 2010 it looks like. Construction is going really really slowly for whatever reason. I wonder if Walmart isn't reconsidering altogether at this point given the economy and reduced scope of the store.

[M1EK]

There's no real change in green space; and the parking garage is now a surface parking lot. You've been swallowing too much RG4N misinformation.

[Scottolini]

What RG4N "really":rolleyes: wanted was an urban mixed-use redevelopment. So when Wal-Mart wanted to build a multi-level store with structured parking they fought tooth and nail. So now they get a typical single floor Wal-Mart with a sea of asphalt!:shrug:

[Saddle Man]

Laura Morrison is the devil.

[HOUSTONIAN57]

Well I found this planned for Austin. I don't know if you Austinites know about this already but, I have'nt seen it in this thread.

Hotel Van Zandt 17 stories.

http://www.jmirealty.com/projects/project_detail.php?property_id=21&type=3

Renderings:

http://i294.photobucket.com/albums/mm99/YahTrickYah57/emerging_poster_jan091pdf-AdobeRead.jpg

http://i294.photobucket.com/albums/mm99/YahTrickYah57/HVZ20Image20A.jpg

JMI Realty is developing the Hotel Van Zandt, a 307-room, 17-story, Kimpton Boutique Hotel conveniently located minutes away from the convention center, the Warehouse District and other popular downtown Austin destinations. When complete, the hotel will include amenities such as three levels of underground parking, a three-meal restaurant, a 6,800 square foot pool deck and bar, approximately 12,000 square-feet of meeting space and a 1,300 square foot excercise facility.

Situated in the newly minted Waterfront District of downtown Austin, the project will be directly adjacent to and share amenities with The Shore, a Trammell Crow Company condominium project. The Van Zandt is expected to attract both business and leisure travelers given its opportune location. It is two blocks southeast of the Austin Convention Center, one block east of Town Lake, 1.8 miles from the Texas Capitol Building, and 1.6 miles from the University of Texas at Austin.

The Van Zandt will be the only boutique hotel in downtown Austin and is designed to capture the unique attitude and culture of the community. JMI Realty believes that a trendy, upscale boutique hotel in downtown Austin will stand out among the competition in the market.

http://www.ci.austin.tx.us/downtown/downlo...oster_jan09.pdf



San Diego-based JMI Realty may start construction this year on a hotel project on Lady Bird Lake.

[crewer]

Well I found this planned for Austin. I don't know if you Austinites know about this already but, I haven't seen it in this thread.

It's on the first page of this thread. I thought the project was either put on hold or scrapped.

[HOUSTONIAN57]

It's on the first page of this thread. I thought the project was either put on hold or scrapped.

Oh I did'nt notice; but, the first page does'nt have a rendering of the Tower.

The Pdf. I posted gives a number of updates on other developements planned for Austin.


7RIO

Plans are on hold for a 32-story condominium tower at W. 7th Street and Rio Grande by Dallas-based development company CLB Partners. The 158-unit project will also have about 7,400 square feet of new retail space on the ground floor. The project, being designed by local architectural firm Rhode:Partners, is expected to cost more than $50 million.

Ovation

Atlanta-based Novare Group Holdings LLC and Austin’s Andrews Urban LLC, developers of the 360 Condominiums, hope to break ground this year on a 35-story condo tower on a portion of Block 51, bordered by Sixth, Nueces, Fifth and San Antonio streets. The project will include 436 condos and approximately 20,000 sq. ft. of ground-level retail and restaurant space.

http://www.ci.austin.tx.us/downtown/downlo...oster_jan09.pdf

[Scottolini]

It's on the first page of this thread. I thought the project was either put on hold or scrapped.
If it is on hold, it has not been announced. There have been delays, and the condo portion has been scrapped, but the developer still says the hotel project is moving forward. We'll see.

[Mopacs]

More shots from this past weekend (Sunday, 3/1). This was one incredibly clear afternoon, so taking photos was almost obligatory.

The following set centers around the Spring condominiums and environs:

http://images45.fotki.com/v1450/photos/7/54967/7192871/P1100361-vi.jpg

The aparments in the foreground were built almost on top of the Union Pacific railroad

http://images43.fotki.com/v1389/photos/7/54967/7192871/P1100368-vi.jpg

Looking east down the tracks

http://images45.fotki.com/v1451/photos/7/54967/7192871/P1100371-vi.jpg

Condos at Spring give you front door access to the Amtrak station

http://images46.fotki.com/v1453/photos/7/54967/7192871/P1100386-vi.jpg

http://images46.fotki.com/v1433/photos/7/54967/7192871/P1100377-vi.jpg

http://images24.fotki.com/v768/photos/7/54967/7192871/P1100419-vi.jpg

http://images44.fotki.com/v1470/photos/7/54967/7192871/P1100410-vi.jpg


http://images46.fotki.com/v1445/photos/7/54967/7192871/P1100414-vi.jpg

http://images44.fotki.com/v1471/photos/7/54967/7192871/P1100418-vi.jpg

http://images24.fotki.com/v873/photos/7/54967/7192871/P1100421-vi.jpg

http://images42.fotki.com/v1466/photos/7/54967/7192871/P1100428-vi.jpg

http://images23.fotki.com/v808/photos/7/54967/7192871/P1100451-vi.jpg

http://images47.fotki.com/v1454/photos/7/54967/7192871/P1100452-vi.jpg

http://images12.fotki.com/v236/photos/7/54967/7192871/P1100453-vi.jpg

The following were taken atop the old Whole Foods garage on Lamar Blvd

http://images23.fotki.com/v803/photos/7/54967/7192871/P1100471-vi.jpg

http://images44.fotki.com/v1467/photos/7/54967/7192871/P1100502-vi.jpg

http://images46.fotki.com/v1452/photos/7/54967/7192871/P1100481-vi.jpg

http://images25.fotki.com/v943/photos/7/54967/7192871/P1100486-vi.jpg

http://images46.fotki.com/v1453/photos/7/54967/7192871/P1100508-vi.jpg

Driving down 2nd Street

http://images43.fotki.com/v1386/photos/7/54967/7192871/P1100532-vi.jpg

http://images44.fotki.com/v1449/photos/7/54967/7192871/P1100536-vi.jpg

http://images44.fotki.com/v1449/photos/7/54967/7192871/P1100540-vi.jpg

http://images44.fotki.com/v1467/photos/7/54967/7192871/P1100545-vi.jpg

http://images42.fotki.com/v1466/photos/7/54967/7192871/P1100557-vi.jpg

More of Spring and the West End

http://images47.fotki.com/v1462/photos/7/54967/7192871/P1100337-vi.jpg

http://images44.fotki.com/v1448/photos/7/54967/7192871/P1100330-vi.jpg

http://images46.fotki.com/v1446/photos/7/54967/7192871/P1100333-vi.jpg

Looking south on Lamar from 3rd Street/railroad overpass.

http://images45.fotki.com/v1451/photos/7/54967/7192871/P1100395-vi.jpg

http://images42.fotki.com/v1466/photos/7/54967/7192871/P1100398-vi.jpg

Looking west on 5th Street, toward the rising Compass Bank building

http://images16.fotki.com/v300/photos/7/54967/7192871/P1100336-vi.jpg

And here are some miscellaneous shots...

http://images42.fotki.com/v1318/photos/7/54967/7192871/P1100283-vi.jpg

Downtown from Mopac and 183 in North Austin

http://images45.fotki.com/v1200/photos/7/54967/7192871/P1100180-vi.jpg

Far West Blvd at Mopac

http://images47.fotki.com/v1479/photos/7/54967/7192871/P1100232-vi.jpg

Hope you enjoyed.

[crewer]

If it is on hold, it has not been announced. There have been delays, and the condo portion has been scrapped, but the developer still says the hotel project is moving forward. We'll see.

I did a little hunting around and came across the latest rendering of the Van Zandt. I'm sure most on here have already seen it.

http://tayloroldham.files.wordpress.com/2008/08/hotel-van-zandt.jpg?w=400&h=500

The article, published back in August, stated that construction was to start in October. So perhaps, maybe, it's still going to go, but I seem to recall hearing (inside scoop) that it was placed on hold. Wouldn't surprise me in this economy.

[HOUSTONIAN57]

The article, published back in August, stated that construction was to start in October. So perhaps, maybe, it's still going to go, but I seem to recall hearing (inside scoop) that it was placed on hold. Wouldn't surprise me in this economy.

Its not on hold, your 'inside scoop' information is false, the pdf I posted was made and released in January of this year.

[crewer]

Its not on hold, your 'inside scoop' information is false, the pdf I posted was made and released in January of this year.

I see what you're saying. The link you posted was broken, but I found the file on the City of Austin website. It looks like you were referencing the poster that was updated in January. I wouldn't put much stock in that right now. It includes multiple projects that have since been canceled or placed on hold.

[nixcity]

Yes, basically - once Laura Morrison got elected, the bargain of VMU for McMansion was a goner. Write your city council members if you want, but it won't do any good; the voters spoke, and they rejected all density everywhere by putting her in office.
Maybe this will turn out being okay, fortunately the VMU is already all over west campus, yes it still could be denser, but at least it has progressed a lot. Now maybe they can focus on better infrastructure for the area, improving/widening sidewalks should be a priority. Also, maybe now a lot of the plan for Riverside will be easier to pull off, just refocussing the density.

[jowens]

Downtown from Mopac and 183 in North Austin

http://images45.fotki.com/v1200/photos/7/54967/7192871/P1100180-vi.jpg


The 3 buildings at Ben White & IH-35 always makes the west side of DT more "filled in" from this view.

Great stuff MOPACS!!

[priller]

Some photos from today, mostly at the W. They're actually setting up some platforms for the 2nd floor!

http://farm4.static.flickr.com/3578/3331663171_c3148c9343_o.jpg

http://farm4.static.flickr.com/3381/3331663745_038390e282_o.jpg

http://farm4.static.flickr.com/3402/3331663473_9634c2ac21_o.jpg

http://farm4.static.flickr.com/3387/3332498520_fc9461704f_o.jpg

http://farm4.static.flickr.com/3548/3332498174_60bab93f10_o.jpg

http://farm4.static.flickr.com/3403/3332500368_64d38f6e3f_o.jpg

http://farm4.static.flickr.com/3340/3331664297_0bfe5110ab_o.jpg

http://farm4.static.flickr.com/3538/3332499748_6c7d61a4d7_o.jpg

[LoneStarMike]

Awesome photos mopacs & priller! Thanks!

[()_T]

I don't know if you guys heard of this but, its not on the first page on this thread.

Republic Park 16-stories

http://www.zieglercooper.com/projects.asp?indid=41&projid=102

In response to Austin´s metropolitan population and employment growth, Gables Residential purchased a .75 acre site fronting on Republic Park Square and is moving forward with a development of mixed-use urban residential tower with street level retail. The 16 story tower consists of 222 apartments, 14,650 sf of retail and an elevated pool and club facility overlooking Republic Park from the 6th level rooftop.

The architectural expression reaches out to the cultural heritage of its warehouse neighborhood, a series of brick-clad buildings that now house a vibrant retail life. Formally speaking, the architectural composition is fragmented into four (4) building blocks that break down the scale of the large tower. A two story retail base is punctuated with glass storefront and retail canopies and expands the Great Streets program along Fourth Street and Guadalupe Street to encourage sidewalk cafes and an active pedestrian scene.

The progressive design features a large, overscale brise de soleil fronting on Republic Park. This prominent architectural feature provides shade to the pool and clubhouse levels and architectural interest from the park. The materials palette for the design include aluminum glass, brick, and bluestone accents at the retail street level and a combination of brick and stone accents for the residential tower. Views from the tower and the balconies provided at every apartment unit will extend to the Capitol on the north and Town Lake on the south, and of course Republic Park to the west.

STRIVING FOR LEED CERTIFICATION

Renderings:

http://i294.photobucket.com/albums/mm99/YahTrickYah57/RP1.jpg

http://i294.photobucket.com/albums/mm99/YahTrickYah57/proj894.jpg

http://i294.photobucket.com/albums/mm99/YahTrickYah57/RP.jpg

http://i294.photobucket.com/albums/mm99/YahTrickYah57/RP2.jpg

[JMancuso]

i was just in austin yesterday and...holy crap has downtown changed.

[shanny]

took this yesterday:

http://pic15.picturetrail.com/VOL630/3951350/14814640/357376577.jpg

[jgouger]

Speaking of urban sprawl, so apparently it looks like Houston is planning on a fourth loop with Grand Parkway. I went to look at a master planned community in NW Houston and the sales agent there was touting how the new Texas 99 and future NW version of Westpark Tollway would make commuting to downtown that much faster. Sigh... If I ever move back to Houston, I'm either finding a job in the Medical Center or Downtown and living in one of those areas surrounding it.

Anyways... any chance with all of the federal spending money that is being given out now that Austin's Federal Courthouse may have the funding for FY09? I think that is a very interesting building and would certainly add much needed office on that side of Downtown.

[Strayone]

And now something to distract from the usual day to day topics, have a look at these photo's from long ago.
The Tx Capitol in the mid 1800's?
http://i131.photobucket.com/albums/p302/strayone61/03-11-09_1239.jpg

This must have been the renovation of the Capitols'... big shindig!
http://i131.photobucket.com/albums/p302/strayone61/03-11-09_1240.jpg

Before they put that, um ...lovely Statue on top of the Capitol.:D
http://i131.photobucket.com/albums/p302/strayone61/08-28-08_1721.jpg

[Saddle Man]

Damn credit crunch.

http://www.statesman.com/business/content/business/stories/other/03/12/0312delays.html

[crewer]

And now something to distract from the usual day to day topics, have a look at these photo's from long ago.

That little-domed capitol burned to the ground in 1881 (thank God).

Here's a little myth-buster for any of you who believe that the present Texas capitol has the tallest dome of all state capitols. Though it is taller than the US capitol's, it is beat out by the Illinois Capitol dome (http://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Illinois_State_Capitol_pano.jpg/755px-Illinois_State_Capitol_pano.jpg) (361 ft. compared to the Texas dome of 308 ft.). And yes, Louisiana's capitol is the tallest, but we're talking domes here.

[Northcrossed]

Credit crunch putting a hold on more Austin projects

By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, March 12, 2009

http://www.statesman.com/business/content/business/stories/other/03/12/0312delays.html

The recession and frozen credit markets have put more Austin projects on hold, including proposed hotels downtown and in North Austin and a large condominium project on East Riverside Drive.

JMI Realty is ready to start work on the Hotel Van Zandt, a 327-room boutique hotel at Red River and Davis streets, at the eastern edge of downtown. But obtaining financing for the hotel is "very, very difficult," said Greg Clay, senior vice president with JMI, which recently moved its headquarters to Austin from San Diego.

"We are ready to start construction on the hotel project, but there are no lenders willing to make loans on new construction," Clay said Wednesday. "We are having some dialogue with lenders, but even with a lot of equity in the deal, the banks are not willing to actually make loans. We have lots of jobs ready to be created with this project, but until the banking environment improves, we will be on hold."

Also on ice are CWS Capital Partners' plans to build hundreds of apartments and condos on East Riverside, just east of South Congress Avenue. The original plans for three towers as high as 200 feet set off a major debate over waterfront development, and CWS later scaled back the height to 96 feet and reached a compromise with the project's opponents. The company had planned to start the project this year. "Obviously, financing is an issue for everyone right now until the capital markets return," said Greg Miller, vice president of investments for Texas-based CWS Capital Partners. "Until the capital markets stabilize and return to normal, it will be a very difficult environment to develop in."

In North Austin, Atlanta-based Novare Group and its local partner Andrews Urban are holding off on a 28-story tower that would house condominiums and a 145-room Twelve Hotel at Endeavor Real Estate Group's Domain mixed-use project. The developers say the delay of the $100 million-plus project stems from the postponement of three major retail projects at the Domain: new stores for Nordstrom, Saks Fifth Avenue and Whole Foods Market Inc. "We intend to defer on our residential community at Domain, as well as the Twelve Hotel in the same building, until such time as we are clear about the status of the retail, apartments and the Whole Foods," said Taylor Andrews, president of Andrews Urban. "The challenge with mixed use is that even if one of the uses is delayed, it can impact the feasibility of the others." Under the revised timetable, Nordstrom and Saks — as well as 490 apartments, 450,000 square feet of additional retail space and 125,000 square feet of offices — would not open until fall 2012. The Whole Foods store opening would be pushed back to May 2012, about a year later than planned.

The lending environment is difficult in all markets, JMI's Clay said, even in those like Austin that are said to be faring better than others because of job growth. "It is especially difficult to get loans over $30 million," Clay said. "But even the small loans from local banks are more difficult to get today and will only get more difficult in the future as regulators review the local banks' asset base and require additional capital infusions."

Bob Barnes, president and chief executive of IBC Bank in Austin, said bank credit is generally less available now than it was six to 12 months ago. However, Barnes said loans are available "for well-capitalized borrowers with experience and demonstrated business plans or projects." "Essentially, there is little room for speculative projects right now," Barnes said. His bank provided the construction loan for the Barton Place condominium project under construction on Barton Springs Road.

Some developers are plugging away on the financing front, and some say they are beginning to see encouraging signs of banks' interest in getting back into the lending game. The Louisville, Ky.-based Poe Companies still plans to build an art-themed hotel and condo project on Cesar Chavez Street across from the Austin Convention Center. "We're committed to the project and committed to Austin," said Michael Bonadies, president and CEO of 21c Museum Hotels. "We are optimistic but patient and are working to obtain financing."

(edited to create paragraphs)

[priller]

They're moving up the platforms again today at the Austonian. Up to floor 37.

[hookem]

They're moving up the platforms again today at the Austonian. Up to floor 37.
They must be getting close to having to raise the crane again, right? When they do, I think crane will be taller than Frost and 360.

[Scottolini]

At this point, it may very well be raised to what will be it's peak height. There are already less than 20 floors left, so that would seem logical. But then again, I am no expert.:haha:

[Strayone]

While on the Mopac 183 flyover I noticed that The Austonian is very close to the height of The Ashton which is around 412 ft. tall. So another 270 ft. or so to go.

[OU812]

In North Austin, Atlanta-based Novare Group and its local partner Andrews Urban are holding off on a 28-story tower that would house condominiums and a 145-room Twelve Hotel at Endeavor Real Estate Group's Domain mixed-use project. The developers say the delay of the $100 million-plus project stems from the postponement of three major retail projects at the Domain: new stores for Nordstrom, Saks Fifth Avenue and Whole Foods Market Inc. "We intend to defer on our residential community at Domain, as well as the Twelve Hotel in the same building, until such time as we are clear about the status of the retail, apartments and the Whole Foods," said Taylor Andrews, president of Andrews Urban. "The challenge with mixed use is that even if one of the uses is delayed, it can impact the feasibility of the others." Under the revised timetable, Nordstrom and Saks — as well as 490 apartments, 450,000 square feet of additional retail space and 125,000 square feet of offices — would not open until fall 2012. The Whole Foods store opening would be pushed back to May 2012, about a year later than planned.



this probably means no 28-story tower till 2012 as well. bummer. I was looking forward to seeing some height up in these parts.
btw, i drove by there the other day and it appeared there was some groundbreaking going on for the Nordstroms. kind of a weird thought to build a luxury retailer in light of the rough economy.
i'm surprised the Westin hotel is moving forward.

[KevinFromTexas]

Here's another Flickr member who just started taking some construction pics. And he seems to have gotten pics of some of the people in charge. I guess he doesn't meekly wander around the periphery of the projects like I do.

I can't link directly to his photos, but here's the main page for his set:

http://www.flickr.com/photos/stevehopson/sets/72157613711090407/

Bob Albanese is in one of those. He's the man that gave me the heights for The Austonian. He was very helpful and informative. :tup: