John Schuler and Ron Thrower have been fighting this uphill battle for years now. And the neighborhood loathes them. I have a hard time seeing this development getting off the ground as currently proposed. In fact, I’m very surprised to see that Council Member McCracken is backing this development. Especially since he was the one who spearheaded the height-slashing on the tower component of Constellation Property Group’s (the Aussies) Star Riverside project, from 190’ to 110’.
With that regard, Constellation is awaiting final word on their site plan approval. However, site preparations have begun. The $70 million development will be constructed in three phases. Construction is expected to begin on phase one which includes the below –grade parking structure, and two, 6-story, lakeside buildings (68 units). This phase is to be completed by mid 2008. Phase two, which planners are anticipating a 2008 groundbreaking, will consist of one, 9-story, 83-unit building on the property’s SE corner (Riverside Dr. @ Manlove St.).
Finally, phase three, may begin construction in 2009 and consist of one 11-story, 100-unit tower on the property’s SW corner (Riverside Dr. @ I-35 North Frontage Rd.). This is the building which was originally planned to be their “iconic” 190’, 18-story structure.
All-in-all, it’s going to be a great addition to Austin and the E. Riverside Corridor! I can’t wait for their Red River project to break ground in the Waterfront District sometime in 2008.
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AUSTIN (City): 974,447 +1.30% - '20-'22 | AUSTIN MSA (5 counties): 2,473,275 +8.32% - '20-'23
SAN ANTONIO (City): 1,472,909 +2.69% - '20-'22 | SAN ANTONIO MSA (8 counties): 2,703,999 +5.70% - '20-'23
AUS-SAT REGION (MSAs/13 counties): 5,177,274 +6.94% - '20-'23 | *SRC: US Census*
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