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View Full Version : AUSTIN | W Hotel Austin & Residences | 472 FT | 37 FLOORS | T/O



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priller
Jun 10, 2009, 1:57 AM
You know, this building is really going to be a beast when it's done. The Austonian is so slender and the tower is just barely more than 1/2 block at its longest. The W's tower is almost a whole block wide and will be as tall as the 360's roof deck. It will look massive from north and south.

AustinSkyscrapers
Jun 10, 2009, 7:26 PM
You know, this building is really going to be a beast when it's done. The Austonian is so slender and the tower is just barely more than 1/2 block at its longest. The W's tower is almost a whole block wide and will be as tall as the 360's roof deck. It will look massive from north and south.

It will sure be a beast! Actually, the Austonian is only 1/3 of its block!
I went to the ACC building in Southwest Austin today. Too bad I didn't have my camera with me today and I only went to the little bookstore instead of the main building. The good thing is that I could see the skyline at least decently from there. I could just barely to the slightest bit make out where they were working on W Austin Hotel & Residences and the two cranes used. I did see the Austonian and its crane+cab pretty well. When W is done it will be prominent from there, but blocking the Ashton which I also saw from there.

Thymant
Jun 12, 2009, 6:30 PM
However, I wonder if the effect of this being so large would actually be a good thing.

AustinSkyscrapers
Jun 12, 2009, 6:33 PM
It will do a lot to the skyline, but I'm not sure if it's going to work out.

priller
Jun 16, 2009, 1:07 AM
From today. W is starting to emerge behind city hall.

http://farm4.static.flickr.com/3625/3630185919_972543b374_o.jpg

AustinSkyscrapers
Jun 16, 2009, 3:45 AM
Nice photo priller.

KevinFromTexas
Jun 16, 2009, 3:59 AM
So it's at the 6th floor now. Once it reaches the 7th, it'll be at 100 feet tall.

Raining Inside
Jun 16, 2009, 4:05 AM
It won't be long before the crane will need to be raised!

priller
Jun 16, 2009, 9:40 PM
However, I wonder if the effect of this being so large would actually be a good thing.

Hmm, I went back and looked at the original renderings and the tower portion is not going to be quite as wide as I was thinking. So maybe not quite the monster I was envisioning.

AustinSkyscrapers
Jun 16, 2009, 9:46 PM
That was what I was thinking. It wouldn't be a total monster. As you can see, Austonian, Four Seasons Residences, and 360, very prominent structures, aren't total monsters. It would still be a biggie, as it would have a good sized width.

KevinFromTexas
Jun 16, 2009, 10:54 PM
It had slipped my mind, but yes, the tower won't run the whole width of the block from west to east. It's still about 75 percent of the block's width though. Most blocks downtown are 275 feet wide, so 75 percent of that would be 205 feet wide. Still pretty big. For comparison sake, 300 West Sixth is supposed to be 227 feet wide (the tower portion, not measured at the base).

AustinSkyscrapers
Jun 17, 2009, 6:14 PM
Big it sure is!

JACKinBeantown
Jun 17, 2009, 8:04 PM
Big it sure is!

The force is with him, but ready to be a Jedi he is not. ;)

AustinSkyscrapers
Jun 17, 2009, 8:40 PM
What's that supposed to mean?

priller
Jun 17, 2009, 9:47 PM
Yoda speak.

AustinSkyscrapers
Jun 17, 2009, 10:07 PM
Ya I know but what's that supposed to mean in real life? In construction?

Raining Inside
Jun 17, 2009, 11:32 PM
When you become a Jedi you will know.

photoLith
Jun 18, 2009, 2:17 AM
I quickly walked around this area where the scraper is being built about a month ago and wow. That entire couple block area around the tower is looking great. There were tons of people walking around and lots of shopping and resturaunts. Reminded me of a tiny Michigan Avenue sort of area.

I have one quick question. Why has Austin been booming so much lately? It all of the sudden just got tons of new projects and beautiful new towers and most residential. Why did this happen now and not in the past? Are there just that many new tech jobs opening up around there, whats the deal?

AustinSkyscrapers
Jun 18, 2009, 2:56 AM
Well it all started with 360.... Maybe because of that of what you said, new tech jobs coming around.

Might be because that developers wanted those empty lots filled up, and Austin becoming a great city!

I put the Austin skyscraper booms in three and name them the "Austin Boom"-1970's-80's, the "Technology Boom"-1999-2004, and this one, the "Residential Boom"-2006-Present

priller
Jun 19, 2009, 12:23 AM
Why has Austin been booming so much lately? It all of the sudden just got tons of new projects and beautiful new towers and most residential. Why did this happen now and not in the past? Are there just that many new tech jobs opening up around there, whats the deal?

I don't think there's a simple answer to the question. There are a number of things that came together to produce our current building spree:

1) Pent-up demand -- As little as 5 years ago there were very few choices for downtown living. For a city the size of Austin, the amount of downtown residences was way too low.

2) City programs. The "Great Streets" program Austin started years back, with W. 2nd street being the pilot project. The 2nd St. makeover was a big success and showed that the city's model for revitalizing moribund downtown blocks really works. In addition, the city decided that it was cheaper for them, in terms of maintenance and service, to have increased residential density, and started encouraging high-rise developers to build here.

3) Favorable demographics -- Austin's place on so many "best of" lists and favorable job market caused people to start moving here in droves. More people = high housing demand.

4) Active downtown -- While there were few choices for living downtown, there were lots of reasons for coming downtown, as Austin has always have a very lively downtown scene with 6th Street and the warehouse district.


I'm sure there are other main reasons, but that's what came off the top of my head. It's a really good question.

AustinSkyscrapers
Jun 19, 2009, 11:02 PM
Any updates on this building yet?

Raining Inside
Jun 21, 2009, 12:54 PM
.

AustinSkyscrapers
Jun 22, 2009, 3:40 PM
Still on the 6th floor.

AustinSkyscrapers
Jun 23, 2009, 7:05 PM
If this helps or anything, here's a photo of the whole plan of the W, as priller's was only a cut.

http://img166.imageshack.us/img166/7983/sideelevationsj2.jpg
This is the site where I found it. (http://forum.skyscraperpage.com/showthread.php?t=124346&page=203)
Posted by ivanwolf
Somehow, the plan lists the building as 546 feet. Maybe because it counts the whole entire height, starting from the bottom of the underground parking.

StoOgE
Jun 24, 2009, 1:44 AM
If this helps or anything, here's a photo of the whole plan of the W, as priller's was only a cut.
Posted by ivanwolf
Somehow, the plan lists the building as 546 feet. Maybe because it counts the whole entire height, starting from the bottom of the underground parking.

That is the case. It is showing the elevation. If you notice ground level is listed at 100 feet.

shakman
Jun 24, 2009, 3:37 PM
Which would mean the tower will be 446 ft tall. Look at top elevation.

Raining Inside
Jun 24, 2009, 4:23 PM
Which would mean the tower will be 446 ft tall. Look at top elevation.
The diagram is for the 35-story proposal. The building was expanded to 37.

AustinSkyscrapers
Jun 24, 2009, 4:39 PM
Well, if it helps or anything. Just follow W's progress up to floor 35 and then you can use other things to do the remaining floors. 2 floors isn't too much to handle eh?

tgbAustinite
Jun 24, 2009, 5:34 PM
official height from the developers is 476 ft.

AustinSkyscrapers
Jun 24, 2009, 6:36 PM
Yes I know that...

476
-446
-------
30

Well, you get the point.

KevinFromTexas
Jun 24, 2009, 6:59 PM
That was an older design when the tower was wider. They revised it slightly and made it more slender and taller. The 476 foot height I got came from the architect. And the building is supposed to have 36 floors, not 37.

AustinSkyscrapers
Jun 24, 2009, 7:10 PM
Well you mean this?

Old:
http://www.austintowers.net/at/condos/austin_downtown_condo/w_hotel_files/page28_1.jpg
Image Itself (http://www.austintowers.net/at/condos/austin_downtown_condo/w_hotel_files/page28_1.jpg)
The Website (http://www.austintowers.net/at/condos/austin_downtown_condo/w_hotel.html)

http://bostonrealestateobserver.com/wp-content/uploads/2008/11/austin-w-hotel-residences.jpg
Image Itself (http://bostonrealestateobserver.com/wp-content/uploads/2008/11/austin-w-hotel-residences.jpg)
The Website (http://bostonrealestateobserver.com/category/usa-real-estate/)

SecretAgentMan
Jun 24, 2009, 10:10 PM
The section above is what is on file with the city. So if they have changed the height, they have yet to file a site plan correction for it.

StoOgE
Jun 25, 2009, 3:19 AM
The section above is what is on file with the city. So if they have changed the height, they have yet to file a site plan correction for it.

or the city has failed to update the public files.

Given that the green water treatment page still has all the proposals that wouldn't shock me.

Raining Inside
Jun 25, 2009, 11:16 AM
That was an older design when the tower was wider. They revised it slightly and made it more slender and taller. The 476 foot height I got came from the architect. And the building is supposed to have 36 floors, not 37.

The W website says 37. Here's a Penthouse floor plan on the 37th floor:

http://www.block21residences.com/pdf/PH4.pdf

AustinSkyscrapers
Jun 25, 2009, 5:33 PM
Ah. Let's stop arguing and someone, fetch some updates.

KevinFromTexas
Jun 25, 2009, 6:50 PM
The W website says 37. Here's a Penthouse floor plan on the 37th floor:

http://www.block21residences.com/pdf/PH4.pdf

I believe the reason they call it the 37th floor is because they skipped the 13th floor. So the 13th floor becomes the 14th floor and so on to the "37th" even though it's really only the 36th floor. This is a skyscraper tradition having to do with superstition about the number 13.

Scottolini
Jun 25, 2009, 6:55 PM
So does 360 actually only have 43 floors? Frost only 32?

Saddle Man
Jun 25, 2009, 6:56 PM
.

KevinFromTexas
Jun 25, 2009, 7:02 PM
Not every building does it that way. Office buildings typically do not do that. It's mostly residential buildings and especially hotels that do.

AustinSkyscrapers
Jun 25, 2009, 8:24 PM
So it's superstition ehh?

Saddle Man
Jun 25, 2009, 10:39 PM
.

AustinSkyscrapers
Jun 25, 2009, 11:17 PM
Red is also lucky in China. :)

Raining Inside
Jun 26, 2009, 1:14 AM
Red is also lucky in China. :)

That's why they have a lot of red high rises and the floor counts usually end in 2 or 8.

priller
Jun 27, 2009, 8:01 PM
The W is really moving along now. Already starting on the 8th floor.

http://farm3.static.flickr.com/2428/3665272817_fd7e4fef69_o.jpg

http://farm4.static.flickr.com/3376/3665270693_0155392915_o.jpg

http://farm4.static.flickr.com/3138/3665270173_070c84f2d4_o.jpg

http://farm3.static.flickr.com/2591/3666072052_aa72e12a21_o.jpg

http://farm3.static.flickr.com/2611/3666072820_e2fe233ceb_o.jpg

http://farm3.static.flickr.com/2445/3666073234_3da52473b0_o.jpg

AustinSkyscrapers
Jun 27, 2009, 8:29 PM
Now it is progressing faster than ever before. Does anyone know the fpw? It is probably around 0.8. Thanks for updating this 8th floor.

AustinSkyscrapers
Jul 2, 2009, 7:05 PM
Things are really going along...

KevinFromTexas
Jul 3, 2009, 4:59 AM
Yeah, I saw it yesterday evening while crossing the South First Street bridge. It's definitely poking above City Hall now.

AustinSkyscrapers
Jul 3, 2009, 4:33 PM
May someone post a picture of the current progress of the building now?
Looks like it went double time lol.

priller
Jul 15, 2009, 4:33 PM
I just realized that they moved the gray crane on Sunday. If you look at this old photo you can see there is a third crane base in the NE corner. That's where they moved it to, so now the gray crane is along the east side of the tower.

http://farm4.static.flickr.com/3176/3013072587_da6f1f2a50_o.jpg


I believe someone on the board said they were planning to move the crane once the tower portion was underway. So I guess the gray crane will now grow with the tower. But I'm still a bit confused about the yellow crane, as it still looks like it's too close to the tower to stay as it is for much longer.

shakman
Jul 15, 2009, 4:42 PM
Good observation.

AustinSkyscrapers
Jul 15, 2009, 10:30 PM
No, not that, precise observation.

priller
Jul 19, 2009, 1:45 PM
From 7/18.

http://farm3.static.flickr.com/2481/3732717047_9919293f0f_o.jpg

http://farm3.static.flickr.com/2516/3733516260_5d80fb73ca_o.jpg

http://farm3.static.flickr.com/2474/3732716711_d4585dfc61_o.jpg

http://farm4.static.flickr.com/3505/3732716083_ce6a71f183_o.jpg

AustinSkyscrapers
Jul 19, 2009, 2:13 PM
Thanks for the pictures.

WAustinResident
Jul 24, 2009, 1:05 AM
Hey everyone, I'm new here. I've loved skyscrapers since I was a little kid.

I am going to be moving into this building once its ready. I'd love to help provide some information from an insiders perspective.

Cheers!

KevinFromTexas
Jul 24, 2009, 4:06 AM
^Welcome! Yes, please do share. Would love to see the photos from the building once it's finished.

AustinSkyscrapers
Jul 24, 2009, 1:14 PM
~Welcome WAUstinResident to the Official SkyscraperPage Board~

I too loved skyscrapers when I was little too, though I am still a little kid.

WAustinResident
Jul 27, 2009, 3:33 PM
I've received word that the W hotel will be giving site tours in the next month. This is great cause we will be able to get some interior pictures and pictures of the views.

AustinSkyscrapers
Jul 28, 2009, 5:18 PM
Go check it out for us, and try beating the heat.

WAustinResident
Aug 3, 2009, 8:17 PM
I can't wait to get those first pics from the inside.

I figure since this board is slow ill tell why I choose this building over the Austonian and the Four Seasons which are the other two main competitors for this building.

High floors.... With the hotel taking the bottom floors, the condos start on higher floors. To be on the same floor in the Austonian would have cost almost 20% more because of its size. Even more at the 4 season where it is its own tower, with the hotel in a separate building.

Hotel features.... I enjoy all the amenities and features, as a single person I enjoy the hustle and bustle of the hotel lobby, and the 3 bars and sitting rooms are going to be very modern which fits my style. Although the Four seasons has this, it feels more like mom and dad's hotel than one I would stay at.

Modern Styling.... The Austonian and W are almost equal in this. The four seasons has more of an old world style that doesn't suit me as well.

Square Footage This is where the W came in last, with the highest price per sq foot of all 3 buildings it has smaller spaces than the other two. In the end the space in choose is bigger than my current space so an extra 300 sq ft at the Austonian wouldn't have made a large difference.

Conclusion

In the end the W was first or second in every category except sq footage. With all the hotel amenities the size of the unit isn't as important. The sales staff at all 3 were very professional and courteous and did their best to sell their properties without bashing the competition.

It was a close call between all three but the W just won out with its hipper modern styling and hotel amenities. to make up for the sq. footage issues i just got a bigger unit and moved down a few floors.

if anyone has any questions ill be happy to answer them

priller
Aug 3, 2009, 9:46 PM
Yeah, the W is in a great location, for sure.

I had heard you also get seating at Austin City Limits. Is that true? Was that a factor in your decision? And what about all the other amenities they mention -- whatever, whenever -- how big a deal was that for you?

NThomas
Aug 4, 2009, 1:02 AM
I can't wait to get those first pics from the inside.

I figure since this board is slow ill tell why I choose this building over the Austonian and the Four Seasons which are the other two main competitors for this building.

High floors.... With the hotel taking the bottom floors, the condos start on higher floors. To be on the same floor in the Austonian would have cost almost 20% more because of its size. Even more at the 4 season where it is its own tower, with the hotel in a separate building.

Hotel features.... I enjoy all the amenities and features, as a single person I enjoy the hustle and bustle of the hotel lobby, and the 3 bars and sitting rooms are going to be very modern which fits my style. Although the Four seasons has this, it feels more like mom and dad's hotel than one I would stay at.

Modern Styling.... The Austonian and W are almost equal in this. The four seasons has more of an old world style that doesn't suit me as well.

Square Footage This is where the W came in last, with the highest price per sq foot of all 3 buildings it has smaller spaces than the other two. In the end the space in choose is bigger than my current space so an extra 300 sq ft at the Austonian wouldn't have made a large difference.

Conclusion

In the end the W was first or second in every category except sq footage. With all the hotel amenities the size of the unit isn't as important. The sales staff at all 3 were very professional and courteous and did their best to sell their properties without bashing the competition.

It was a close call between all three but the W just won out with its hipper modern styling and hotel amenities. to make up for the sq. footage issues i just got a bigger unit and moved down a few floors.

if anyone has any questions ill be happy to answer them
Do residences have a separate pool from hotel guests?

WAustinResident
Aug 4, 2009, 3:46 AM
Yes there are priority tickets for the ACL and a few other perks they have not mentioned yet to do with that. I think you get like 13 tickets free per year as well. This was a nice selling point, I am an amateur musician and love going to shows, so having priority tickets before they go on sale, and a few free shows per year. This is a perk that none of the other 2 projects could really touch.

There are 2 pools one for residents and one for both hotel guests and residents. The 2 pools was appealing to me first because I like to swim and its twice the space, secondly the hotel pool will always have different and new people at it so if i feel like being social I can go out there, or the resident pool is great for just having a private time.

As far as the whatever whenever. I at first was skeptical, thinking it was just good marketing, but I spoke with several residents from other W buildings in my research and found that the service is very inclusive. Basically there is a residential concierge and you call them with anything having to do with your home. All maintenance as long as its less than an hour is free. If you need groceries, if you want a coffee in your car in the morning, if you want your closet organized by color they do it. 24/7 a phone call away. some examples if you are coming home from dinner with a date, you can have them clean up your place and put a bottle of champagne on ice for you. for that they charge you only the bottle of champagne.



Some of the other amenities that swayed me:
pet service,I have a cat and dog and having someone watch them and play with them during the day free of charge is great. will make them alot happier.

owners rate on hotel rooms for guests, Owners get a discount at the hotel they live at for guests. I ALWAYS have people coming and going, being able to stash most of them in the hotel will be excellent. I didn't need a guest room because of this feature.

once again the location is the best of all 3 buildings in my opinion. I think once the concert hall is open and the hotel, that corner will be very active and happening.

Finally resale value, with the economic collapse, the W is the last big project to get funded and start construction in Austin. Unless the 21c project gets built which could be until 2014, it is the last major project to come on line in austin for some time, So i think that will help the resale value of the project.

breathesgelatin
Aug 4, 2009, 5:48 AM
holy crap. I want to live there.

TXLove
Aug 4, 2009, 7:53 AM
Yes there are priority tickets for the ACL and a few other perks they have not mentioned yet to do with that. I think you get like 13 tickets free per year as well. This was a nice selling point, I am an amateur musician and love going to shows, so having priority tickets before they go on sale, and a few free shows per year. This is a perk that none of the other 2 projects could really touch.

There are 2 pools one for residents and one for both hotel guests and residents. The 2 pools was appealing to me first because I like to swim and its twice the space, secondly the hotel pool will always have different and new people at it so if i feel like being social I can go out there, or the resident pool is great for just having a private time.

As far as the whatever whenever. I at first was skeptical, thinking it was just good marketing, but I spoke with several residents from other W buildings in my research and found that the service is very inclusive. Basically there is a residential concierge and you call them with anything having to do with your home. All maintenance as long as its less than an hour is free. If you need groceries, if you want a coffee in your car in the morning, if you want your closet organized by color they do it. 24/7 a phone call away. some examples if you are coming home from dinner with a date, you can have them clean up your place and put a bottle of champagne on ice for you. for that they charge you only the bottle of champagne.



Some of the other amenities that swayed me:
pet service,I have a cat and dog and having someone watch them and play with them during the day free of charge is great. will make them alot happier.

owners rate on hotel rooms for guests, Owners get a discount at the hotel they live at for guests. I ALWAYS have people coming and going, being able to stash most of them in the hotel will be excellent. I didn't need a guest room because of this feature.

once again the location is the best of all 3 buildings in my opinion. I think once the concert hall is open and the hotel, that corner will be very active and happening.

Finally resale value, with the economic collapse, the W is the last big project to get funded and start construction in Austin. Unless the 21c project gets built which could be until 2014, it is the last major project to come on line in austin for some time, So i think that will help the resale value of the project.

OK i see why you chose there!:) Im in the hotel industry and would like to work there!!!!:yes:

AustinSkyscrapers
Aug 4, 2009, 1:59 PM
W updates anyone? :???:

WAustinResident
Aug 4, 2009, 2:39 PM
OK i see why you chose there!:) Im in the hotel industry and would like to work there!!!!:yes:

The final reason which i hate to say cause it has to do with other buildings, but oh well, full disclosure right...

One of my concerns is the buildings not selling and becoming rental units, go into auction or some other solution that reduces the value of current owners. So how far along in sales was important. The Austonian and their developers would not say what percentage of the building was sold, and that kind of scared me away. Both the Four Seasons and The W were forthcoming with their sales, the Four Seasons was over 65% and the W was right at 50% at the time. Although there have been a few more units go under contract since that time.

I also timed my purchase for when the market was at what I thought was the worst, which was late spring early summer. Mortgages were hard to come by and a traditionally slow time of the year I figured the best deals could be had.

KevinFromTexas
Aug 5, 2009, 10:10 PM
7/27

The tower frame is starting to become more and more noticeable from I-35 now.

http://img16.imageshack.us/img16/7751/p1300797edit.jpg

Cranes.
http://img268.imageshack.us/img268/190/p1300962edit.jpg

You can just barely see the frame below the yellow crane here. (Left side of the pic above the highway sign).
http://img22.imageshack.us/img22/4994/p1300760edit.jpg

A wider view. It'll definitely bring the skyline farther west.
http://img396.imageshack.us/img396/445/p1300748edit.jpg

Scottolini
Aug 5, 2009, 10:45 PM
It'll fill in a gap very nicely.
http://img16.imageshack.us/img16/7751/p1300797edit.jpg

hookem
Aug 5, 2009, 11:51 PM
The final reason which i hate to say cause it has to do with other buildings, but oh well, full disclosure right...


You completely sure about that full disclosure? Cause I'm starting to have a little tingle of a doubt ;)

AustinSkyscrapers
Aug 6, 2009, 5:04 PM
Thanks for the W update. As expected.

NThomas
Aug 10, 2009, 5:05 PM
Stratus says it may be forced to stop work on W project
Austin Business Journal
August 10, 2009
Full Article (http://www.bizjournals.com/austin/stories/2009/08/10/daily3.html)
Stratus Properties Inc. said Monday it's urgently looking to secure new financing for its W Austin Hotel & Residences project downtown. But if the developer and its partner Canyon-Johnson Urban Fund II LP cannot line up a new equity partner or come up with the funding another way, it may be "required to delay further construction of the project until additional financing is available."

Stratus (Nasdaq: STRS) and Canyon-Johnson entered into their development deal on the $300 million W project in May 2008 and subsequently lined up a construction loan with Corus Bank NA to finance costs above the $128 million commitment on the part of the developers.

According to a filing with the Securities & Exchange Commission, on June 26 the loan agreement with Corus was assigned to a subsidiary of Stratus, which is jointly managed by Stratus and Canyon-Johnson, in exchange for a pay down of $250,000 of the outstanding principal balance of $2.1 million. As a result, Corus is no longer the lender and in the second quarter Stratus recognized a $200,000 loss on extinguishment of debt.

According to Stratus, as of the end of the second quarter, it had invested $35.3 million in the project and Canyon-Johnson $48.7 million. The company says moving forward it will fund 40 percent of the remaining project costs and Canyon-Johnson 60 percent until the required capital totaling $128 million is reached. But once that point is reached, they'll need a new source of capital to continue construction.

The joint venture partners say they are pursuing other options for financing the future construction costs on the project. Such options may include additional equity contributions by Stratus and Canyon-Johnson, financing from other financial institutions, admitting new equity partners, or a combination of those alternatives...

AustinSkyscrapers
Aug 10, 2009, 5:33 PM
Hmm, Stratus forced to stop W...

priller
Aug 10, 2009, 5:54 PM
I certainly hope it doesn't come to that.

KevinFromTexas
Aug 10, 2009, 7:43 PM
Oh man, I sure hope they don't have to stop construction. It would seriously suck seeing how this building is front and center on the skyline. I wonder if those rumors a while back of it having stopped construction then have anything to with this news. I doubt it, but it's food for the skeptics.

WAustinResident
Aug 10, 2009, 8:03 PM
well they wont have to stop just yet...

The contract stipulates the developers (stratus and Canyon Johnson) must pay the first 128 million of construction costs. So far they have just gotten to 84 million meaning there is still 44 million left...

So they could still get quite a bit done before it comes to that point.

Also it said if they couldn't secure financing they could self finance the project or find other outside investors...

Regardless i don't see a 20 story unfinished building in downtown austin happening anytime soon. I think this project finds its financing and gets completed. I think it won't be as profitable as they had hoped but most of the profits will go to finance charges not a drop in unit price.

i wouldn't expect the 44 million they have left on hand to run out for another 4-6 months.

NThomas
Aug 10, 2009, 8:57 PM
I don't think it'll stop yet either, but does anyone remember the Intel shell? :uhh:

priller
Aug 10, 2009, 9:08 PM
Yep. It wasn't nearly as far along as the W, though.


http://farm1.static.flickr.com/184/402067994_f437ea30ce_o.jpg

http://farm1.static.flickr.com/126/402067576_701e433599_o.jpg

CHAPINM1
Aug 10, 2009, 10:06 PM
I'm not worried at all about this one. I gut tells me things will be just fine and contruction will continue according to plan.

WAustinResident
Aug 10, 2009, 10:19 PM
I agree, the canyon johnson fund has over 3 billion in equity and its the majority owner here. they could easily make a cash call and simply dilute Stratus.

Plus banks looking to lend will think this is a strong project, of all large cities Austin is one of the most promising, and the building has over 55% in sales at this point with 14 months to go until it opens.

I know i'm biased, but i just can't see a major stoppage on this property.

We will see in about 90 days if they don't secure some more money.

hookem
Aug 10, 2009, 10:27 PM
I would think it's much easier to obtain financing for a hotel project than an all-condo one... seems like they could just convert a few condo floors into additional hotel floors, and they'd be fine. Their % sold would go up, and the hotel market in Austin is definitely good enough to absorb those additional needed rooms. I'm not too worried about this project becoming a shell, although a reduction in height may be in the cards.

KevinFromTexas
Aug 12, 2009, 11:17 PM
8/10

Starting on the 14th floor soon.
http://img195.imageshack.us/img195/8444/p1320042edit.jpg

Once this one gets up to about the 20th floor, there will be just 2 skyscrapers here that would have existed before 2000. One American Center and 301 Congress are visible also which existed before that year, but they're only partially visible. This a very different skyline than it was in 1999. At first glance, it would be nearly unrecognizable.
http://img14.imageshack.us/img14/9190/p1320044edit.jpg

http://img14.imageshack.us/img14/7613/p1320059edit.jpg

priller
Aug 13, 2009, 2:25 AM
They actually started the 14th today.

AustinSkyscrapers
Aug 13, 2009, 4:08 PM
Looks like their construction buff is still working. 15th floor probably next week.

WAustinResident
Aug 13, 2009, 8:04 PM
looks like they will have to raise the yellow crane soon.

AustinSkyscrapers
Aug 13, 2009, 11:16 PM
Might raise when floor 16 or 17 is mopping the layers.

LoneStarMike
Aug 17, 2009, 8:30 AM
August 16, 2009

From the South First Street Bridge
http://i241.photobucket.com/albums/ff158/LoneStarMike/Austin%202009/August033.jpg

AustinSkyscrapers
Aug 17, 2009, 4:59 PM
Nice shoot LoneStarMike.

WAustinResident
Aug 18, 2009, 9:54 PM
Here is the latest update from the W, no talk of financing trouble.


http://i60.photobucket.com/albums/h40/Jacquescas/Aug09ConstructionUpdate__header.jpg

Scottolini
Aug 19, 2009, 12:52 AM
If there figures are correct regarding the number of units under contract, and an apparent uptick in number of contracts signed recently, I have a good feeling this project will find the necessary financing.

KevinFromTexas
Aug 19, 2009, 4:10 AM
So it looks like they raised the blue/gray crane. It's almost 300 feet tall.

http://farm3.static.flickr.com/2542/3830391698_b4174fe8a8_o.jpg
By Jon LaChance - http://www.flickr.com/photos/jonlachance/3830391698/

AustinSkyscrapers
Aug 19, 2009, 5:49 PM
The yellow crane really needs to be raised...

priller
Aug 19, 2009, 5:55 PM
The yellow crane was raised, on Monday.

AustinSkyscrapers
Aug 19, 2009, 6:08 PM
Oh okay. Most pics don't show that though...

hookem
Aug 19, 2009, 8:32 PM
When I was running by there yesterday (Tuesday), the yellow crane looked to have been raised by only 2-3 sections max. It's still much shorter than the blue one.... is the yellow crane for the non-tower part of the building?

AustinSkyscrapers
Aug 20, 2009, 2:47 AM
Not sure. Its most likely though that yellow one is for lower levels.

NYC2ATX
Aug 20, 2009, 4:18 AM
So it looks like they raised the blue/gray crane. It's almost 300 feet tall.

http://farm3.static.flickr.com/2542/3830391698_b4174fe8a8_o.jpg
By Jon LaChance - http://www.flickr.com/photos/jonlachance/3830391698/

WOW!!! Great photo! It's like whoa, where did that city come from? :banana:

priller
Aug 30, 2009, 3:24 PM
I've been looking at the W the last few days and wondering if they're about done with the hotel floors. Looking at Mopacs' recent photo of the W it's clear they're currently working on the transition floor between the hotel and condos:

http://images50.fotki.com/v1559/photos/7/54967/7192871/P1170124-vi.jpg

http://farm3.static.flickr.com/2499/3871097794_6dcd9012c7_o.jpg


I then superimposed his photo on one of the renderings from the W web site.

http://farm3.static.flickr.com/2061/3870314447_fa836e1f78_o.jpg

Scottolini
Aug 30, 2009, 4:13 PM
You're so awesome, Priller!

Jdawgboy
Aug 30, 2009, 6:47 PM
Wow, when you think about it the W Hotel and Residencies is more residencies than hotel. Why didn't they add more rooms for the hotel portion especially since there is demand for hotel rooms in downtown?