$120M condo project near Zilker OK'd - construction in 30 days?

[ATXboom]

Friday, February 29, 2008 - 12:05 PM CST
$120M condo project near Zilker OK'd
Austin Business Journal

http://austin.bizjournals.com/austin...ml?jst=b_ln_hl

Final approval on Thursday from the Austin City Council has paved the way for construction to start on the BartonPlace condo project.

The $120 million, 270-unit development will go up at 1600 Barton Springs Road. Constructive Ventures -- the group behind such projects as Saltillo Lofts, 2124 and Este -- has partnered with Austin restaurateur Rick Engel on this latest endeavor.

Construction should begin within 30 days on BartonPlace, which has already generated $40 million in presales.

The development team has signed a private agreement with the Zilker Neighborhood Association limiting the development of the portion of the property that fronts Barton Springs Road in order to preserve the local businesses that make up Austin's "Restaurant Row." The developers are also pledging a $500,000 cash contribution for a local nonprofit to provide affordable housing in the area, and will be aim to meet a 3-star green building standard.

"From the very beginning our team felt a strong sense of responsibility to redevelop this property in a way that I hope will be emulated by others who also care about preserving Austin's unique character and culture," says Engel. "I think BartonPlace does that, and we're very proud that the City Council agrees."

The project is being designed by BokaPowell Architects and construction financing is being provided by IBC Bank.

[KevinFromTexas]

This is that project that would replace one of those RV trailer parks. Not sure if the original design has changed or not, but initially they had said it would be two buildings with 6 floors and 75 feet tall.

Here is the project's website:
http://www.bartonplaceaustin.com/

Architect's website. Click on "Full screen recommended">Portofolio>Residential and then below that click on 15.
http://www.bokapowell.com/

[Saddle Man]

I like it.

[KevinFromTexas]

Yes. I like the good mix of glass and stone. Good choice of colors too. And those barrel vaulted roofs are very attractive.