Austin | 3rd & Congress | Feet? | Up to 90 Floors

[ATX2030]

Judge approves $95M sale of prime downtown development site once controlled by Nate Paul

https://www.bizjournals.com/austin/n...ies-tower.html

Paul Thompson – Assistant Managing Editor, Austin Business Journal
May 18, 2022

This snippet caught my attention....

'Provided the transaction ultimately closes, the partners hope to eventually build a mixed-use tower on the site that could feature a high-end hotel, office space, condos and ground-floor retail, sources said.

While the development team is still early in the planning process, they are said to be looking at architects to design what could potentially be one of the tallest towers in the Austin skyline. Sources familiar with the deal suggested the tower could ultimately rise as high as 90 stories — making it the tallest tower in Texas.

Others played down the potential of a record-breaking tower at the site, especially considering the uncertain status of the sale and economic conditions that could be unpredictable over the coming months and years. An existing ground lease at the site is another ongoing issue that could impact a potential project timeline."

[paul78701]

Originally Posted by ATX2030

Judge approves $95M sale of prime downtown development site once controlled by Nate Paul

https://www.bizjournals.com/austin/n...ies-tower.html

Paul Thompson – Assistant Managing Editor, Austin Business Journal
May 18, 2022

This snippet caught my attention....

'Provided the transaction ultimately closes, the partners hope to eventually build a mixed-use tower on the site that could feature a high-end hotel, office space, condos and ground-floor retail, sources said.

While the development team is still early in the planning process, they are said to be looking at architects to design what could potentially be one of the tallest towers in the Austin skyline. Sources familiar with the deal suggested the tower could ultimately rise as high as 90 stories — making it the tallest tower in Texas.

Others played down the potential of a record-breaking tower at the site, especially considering the uncertain status of the sale and economic conditions that could be unpredictable over the coming months and years. An existing ground lease at the site is another ongoing issue that could impact a potential project timeline."

90 stories?! If that really pans out, I would think that would have to be at least 1100 feet tall.

[drummer]

That would be slightly taller than most of its neighbors at that site - if that were to ever happen.

[The ATX]

Even our first supertall 98 RR might not hold the tallest building title very long.

[enragedcamel]

Have there been any updates on the Railyard project?

[migol24]

Well, what do you know? That's the block I said should have a supertall.

[Sigaven]

I sure hope they are looking more at the Pelli Clarke Pelli's and SHoPs than the Genslers and Pages, to design a 90 story tower.

[ahealy]

Originally Posted by Sigaven

I sure hope they are looking more at the Pelli Clarke Pelli's and SHoPs than the Genslers and Pages, to design a 90 story tower.

THIS. Please dear god, no more Page or Gensler.

They're great and all, but you can capture a majority of their projects with one simple skyline snap. I'd love to see more round and organic towers like Pelli Sail or something with white or pink granite. Can you imagine one of our tallest towers sheathed in granite?

[migol24]

Funny that you mention SHoP. Didn't they design the Brooklyn Tower? I particularly always imagined this block to have something similar to the Brooklyn Tower. Let's just hope that my predictions keep coming true.. you never know.

[GoldenBoot]

Originally Posted by paul78701

90 stories?! If that really pans out, I would think that would have to be at least 1100 feet tall.

Using the same floor-to-floor ratio as mixed-use 98 RR, a 90-story tower would be in the ballpark of 1,250'.

[Urbannizer]

Split this topic into its own thread for more exposure.

[GoldenBoot]

I know 101 W. 3rd is the current physical address...however, if anything does get built here, it will most certainly have a 200-block Congress Avenue address - and not something on W. 3rd Street.

[The ATX]

We could go with 3rd & Congress.

[The ATX]

(Not so) World Class Capital hasn't exhausted all their legal options to prevent the sale, so it may be a while before something happens with the site. The potential new owners have deep pockets and could pull off a big project. From the ABJ article:

The $95 million deal was reached in April with a shell company called Third and Congress Owner LLC — a special purpose fund managed by Wildcat Capital Management, a New York-based real estate investment firm with a multibillion-dollar portfolio.

Sources told Austin Business Journal that Wildcat is partnering on the deal with developer DHA Capital, formerly of New York and now based in Austin. DHA Capital Managing Partner Daniel Hollander is the development partner on the deal, while Wildcat is the financial partner.

[WestAustinite]

Originally Posted by The ATX

(Not so) World Class Capital hasn't exhausted all their legal options to prevent the sale, so it may be a while before something happens with the site. The potential new owners have deep pockets and could pull off a big project. From the ABJ article:

It will be interesting to see what happens because it does not seem like DHA develops many high rises: https://www.dhacap.com/portfolio

[Geckos_Rule]

Originally Posted by WestAustinite

It will be interesting to see what happens because it does not seem like DHA develops many high rises: https://www.dhacap.com/portfolio

Conversely, if you ignore that one in New Rochelle, every single one of those others looks pretty decent at worst, and amazing at best for a mid-rise building. So perhaps they have good taste in picking architects...?

[papertowelroll]

Originally Posted by Geckos_Rule

Conversely, if you ignore that one in New Rochelle, every single one of those others looks pretty decent at worst, and amazing at best for a mid-rise building. So perhaps they have good taste in picking architects...?

You know we're getting the New Rochelle one tho

[drummer]

Don't we already have a couple of the New Rochelle version?

[bobbywest87]

Originally Posted by drummer

Don't we already have a couple of the New Rochelle version?

Exactly, and that’s why we need another one. They’re following in the prestigious footsteps of the great Hanover triplet towers.

[We vs us]

So far as I can tell, the actual property is L shaped. I'll be interested to see where exactly they decide to place a 90 story tower in there, and how it relates to the Austonian.