AUSTIN | Hotel ZaZa & Apartments | 305 FEET | 24 FLOORS | Complete - Page 6

MichaelB · #**101** Posted **Apr 25, 2014, 1:23 AM**

Quote:

Originally Posted by ahealy

I'll take aloft over this any day.

Oh heck yeah.

The ATX · #**102** Posted **Apr 25, 2014, 1:53 AM**

This project is obviously in trouble. They can't even put a fence around the site and pretty billboards on all four corners.

Digatisdi · #**103** Posted **Apr 25, 2014, 1:58 AM**

On one hand I'd much prefer the Aloft proposal and I'd take that over this one any day, on the other hand, I'd really like the infill ZaZa would bring to the site.

Then again, it's not in a CVC so maybe there could be a push for something taller as other lots outside of CVCs are snapped up

wwmiv · #**104** Posted **Apr 25, 2014, 6:12 AM**

I honestly think this project died, which I'm okay with. There are better (taller) uses for this lot in the future.

JoninATX · #**105** Posted **Apr 25, 2014, 6:18 AM**

Quote:

Originally Posted by wwmiv

I honestly think this project died, which I'm okay with. There are better (taller) uses for this lot in the future.

Their website says "Coming soon to Austin ". I'm starting to think there watching Austin hotel market to see if it will hold out. Remember we still got the massive Fairmont that will be going up next month. So I guess we'll sit back and play the waiting game.

Digatisdi · #**106** Posted **Apr 25, 2014, 6:38 AM**

Quote:

Originally Posted by JoninATX

Their website says "Coming soon to Austin ". I'm starting to think there watching Austin hotel market to see if it will hold out. Remember we still got the massive Fairmont that will be going up next month. So I guess we'll sit back and play the waiting game.

However the fact that they said they'd have a statement by the end of March and it's approaching the end of April and there's been no such statement gives me pause because honestly it feels like the longer they go on without a statement, the more it's hurts its chances of being built. If I were looking at this as an investor I'd think "Well if they can't make a statement on time I don't know how if I could trust them to build the hotel in time"

Again, while I'd prefer something taller, I like the design and the infill it'll bring to the area, I don't think it's dead yet, but honestly I really don't think things are looking good.

The ATX · #**107** Posted **Apr 25, 2014, 6:54 AM**

The Zaza project reminds me of the original 21c project: inexperienced developers of a budding niche boutique hotel chain get in over their heads with their biggest project to date.

Although I thought with Gables on board this was a pretty sure thing.

SecretAgentMan · #**108** Posted **Apr 25, 2014, 11:11 AM**

Chill everybody. Their site plan has not been released over some minor legal papers. Groundbreaking is anticipated in June or July.

SkyPie · #**109** Posted **Apr 25, 2014, 12:02 PM**

Quote:

Originally Posted by SecretAgentMan

Chill everybody. Their site plan has not been released over some minor legal papers. Groundbreaking is anticipated in June or July.

That's good news. I agree that this will be good infill and with both apartments and a hotel, will bring needed activity around Republic Square park. I like this project.

ahealy · #**110** Posted **Apr 25, 2014, 4:04 PM**

Quote:

Originally Posted by skypie

will bring needed activity around republic square park.

this

GoldenBoot · #**111** Posted **Apr 25, 2014, 10:39 PM**

Quote:

Originally Posted by Digatisdi

If I were looking at this as an investor I'd think "Well if they can't make a statement on time I don't know how if I could trust them to build the hotel in time"

An "investor," whether in this property or an adjacent one, is not going to be sitting on the sideline waiting for a public announcement. They will be on the field and in the trenches. The commercial real estate development industry is a small and very tight knit one. Pretty much everyone is "in the know" on most properties and projects. To reiterate: any savvy "investor" will always have inside information (knowledge which is not, or has not yet become public) on the project in question.

I would agree that it is frustrating for the general public when announcements are not made. On that note, no developer is obligated to release any information about their projects...so, again, yes, it may be frustrating; but, it is their prerogative. Meeting a public media release "deadline" has absolutely nothing to do with whether or not they are capable of successfully developing a project.

KevinFromTexas · #**112** Posted **May 19, 2014, 6:30 AM**

Dead? I noticed their site plan admin expired in February, and there's been no activity on it since October.

https://www.austintexas.gov/devrevie...erRSN=10874636

The ATX · #**113** Posted **May 19, 2014, 7:08 AM**

Quote:

Originally Posted by KevinFromTexas

Dead? I noticed their site plan admin expired in February, and there's been no activity on it since October.

https://www.austintexas.gov/devrevie...erRSN=10874636

It does say "waiting on legal" as the status like SAM said. But I vote for dead because of the inactivity, and it just seems to be quietly fading away like dead projects do. At least the Fairmont is still having new permit requests and pretty billboards installed.

wwmiv · #**114** Posted **May 19, 2014, 7:30 AM**

I never thought this one would make it.

ahealy · #**115** Posted **May 19, 2014, 12:34 PM**

I love the density this project brings to 4th...but I was never sold on the design..Crossing fingers something better goes into this spot. Perhaps taller and more attractive.

Global · #**116** Posted **May 19, 2014, 1:26 PM**

Quote:

Originally Posted by Hill Country

It does say "waiting on legal" as the status like SAM said. But I vote for dead because of the inactivity, and it just seems to be quietly fading away like dead projects do. At least the Fairmont is still having new permit requests and pretty billboards installed.

It's not dead. My wife works for Gables, and they are still very much talking like it's going to happen. They sold off a bunch of downtown properties this month because they're putting their assets into this new project.

GoldenBoot · #**117** Posted **May 19, 2014, 5:54 PM**

Quote:

Originally Posted by KevinFromTexas

Dead? I noticed their site plan admin expired in February, and there's been no activity on it since October.

https://www.austintexas.gov/devrevie...erRSN=10874636

Ladies and gentlemen, may I present:

Hotel Nada!

All jokes aside, I'd still like to see this project come to fruition.

Jdawgboy · #**118** Posted **May 20, 2014, 2:28 AM**

Quote:

Originally Posted by Global

It's not dead. My wife works for Gables, and they are still very much talking like it's going to happen. They sold off a bunch of downtown properties this month because they're putting their assets into this new project.

Do you know of any specific timelines or what is going on with the permit process?

KevinFromTexas · #**119** Posted **May 20, 2014, 2:32 AM**

Quote:

Originally Posted by ahealy

I love the density this project brings to 4th...but I was never sold on the design..Crossing fingers something better goes into this spot. Perhaps taller and more attractive.

I actually like the design. I think the renderings are not doing it justice. We have so few brick towers so far. It could be a nice change from all the glass. A brick facade tower would be perfect for the warehouse district - a sort of nod to all the old brick buildings there. The height isn't terrible either, but 100 to 200 more feet would be better.

Global · #**120** Posted **May 20, 2014, 1:44 PM**

Quote:

Originally Posted by Jdawgboy

Do you know of any specific timelines or what is going on with the permit process?

I'll ask my wife to check on it. Last I heard was that they expected construction to start early summer.