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  #181  
Old Posted Aug 20, 2017, 4:43 AM
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Originally Posted by Dcbrickley View Post
Looks like Lauderette is expanding.
Good observation. I never heard of Laundertte until your post. I looked them up and they occupy a former laundromat (hence their name) on Holly St. in East Austin. They seem to be fairly upscale, and a poster child for gentrification: neighborhood laundromat > high end hipster restaurant. Here's the location on Streetview:




Here's the link to the restaurant:
http://launderetteaustin.com/
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  #182  
Old Posted Aug 20, 2017, 4:44 AM
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Having recently returned from NY, I wish the development team would instruct Gensler to add an angled roof and spire to this project.
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  #183  
Old Posted Aug 20, 2017, 4:48 AM
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Too bad the article is behind a paywall. It's very clearly obvious that some San Antonians are pretty jealous. Pitty...I'm very excited to see this building rise.
I just checked the link, and it's not behind a paywall for me. Try using a Chrome incognito window to open the link.
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  #184  
Old Posted Aug 20, 2017, 4:52 AM
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Here's the Express-News article in case anyone is having trouble accessing it:

Quote:
A San Antonio residential developer is about to tackle its biggest project yet: an 850-foot, 62-story skyscraper with 345 luxury apartments and half a million square feet of office space.

But it will be in Austin.

Lynd Development Partners, a firm based on the Northwest Side known for building luxury apartment complexes around The Rim, is teaming up with Lincoln Property Co. of Dallas on the tower, which is expected to be Austin’s tallest building by more than 150 feet, said Mike Lynd Jr., the firm’s president and CEO. It will be at the corner of Sixth and Guadalupe streets, an area of Austin’s downtown that is crowded with construction cranes for new skyscrapers.

“We didn’t aspire to build the tallest building in Austin,” Lynd said. “We look at projects economically. I don’t look at projects to make my ego feel good.”

The tower’s construction is expected to start in nine months; the offices will take about two years to build, while the residences will be finished in four years, Lynd said. The development partners are under contract to buy the 1.6-acre property, which is currently the site of an extended-stay hotel.

The partners plan to wait until development plans are complete to line up financing, Lynd said. He’s not sure yet what the tower’s cost will be.

The tower, which was first reported by the Austin American-Statesman, will take advantage of the booming real estate market in Austin, especially in its downtown. Austin’s educated workforce, its reputation as a hip city for Millennials and efforts by the city’s business leaders to market it nationwide are attracting companies and residents, Lynd said. Companies such as Amazon, Facebook and Homeaway have expanded their workforces in the city in the last year, according to the Austin Chamber of Commerce.

Another advantage for Austin’s downtown is that the city has few residential submarkets, Lynd said — in other words, a large portion of its demand is centered downtown, while in San Antonio it is spread among hubs such as The Rim area, the Medical Center and the far West Side.

Lynd Development brought Lincoln Property Co. on board to handle the tower’s office component. The high cost of the property made it uneconomical to only develop it with residences, Lynd said. He declined to share what the purchase price will be, but the property was assessed at $19.5 million this year by the Travis Central Appraisal District.

The tower, which does not yet have a name, is roughly three times the size of any project that Lynd Development has tackled before, he said. The firm focused on building garden-style apartment complexes until 2010, when it constructed its first high-rise — the Env, a 28-story luxury apartment tower near Chicago’s riverfront. After the success of that project, it built high-rises in Austin, Denver and Miami.

LOCAL

Sara Strickland contracted typhus in 2009 when she was a graduate student at Rice University and living off-campus. A couple of possums had gotten into the crawl space of a house and more than likely had fleas, which can spread the disease. She became sick with fever, headache, chills, sweats, then a rash and dehydration. She had to be hospitalized before doctors diagnosed that it was typhus. She was treated with antibiotics and released in four days but says it took about a year for her to fully recover. She is living in Washington D.C. now. Typhus making a comeback in Texas Volunteer Kortney Johnson plays with toddlers at The Children's Shelter in San Antonio on Dec. 31, 2016. Johnson holds a birthday party including gifts and cake for every child who has a birthday while they are staying at the shelter. Johnson is stationed at Ft. Sam Houston while serving in the Army and has volunteered with different organizations every place he has been stationed. Soldier volunteers to help children in need Migrant worker Santos Jimenez, 79, ties up loose branches on grape vines at Newsom Vineyards near Plains. The vineyard is one of several in the High Plains that has been damaged by herbicide used on cotton fields. Dying vines: how herbicides are damaging, and destroying, High Dressed as a Quice–eras, young women protest SB4 in front of the State Capitol, Wednesday, July 19, 2017. The bill known as the "show me your papers," bill will take effect on September 1st. The Quince–era is the coming of age for a girl in the Hispanic culture. Bathroom bill fight over ‘for now,’ with credit, blame going Miranda Vigil (right) witnessed the terrorist attack in Barcelona during a trip last week to Spain, where her mother, Kyndra Vigil (left), was studying dance in Madrid. San Antonio woman witnessed horror in Barcelona Boxes of helmets await as kids get backpacks and safety gear as well school supplies and vaccinations at the Garza Community Center back to school fair as on August 19, 2017. Hundreds prepare for school year at Northwest Side fair WASHINGTON, DC - JULY 26: Sen. John Cornyn (R-TX) listens to testimony during a Senate Judiciary Committee hearing titled 'Oversight of the Foreign Agents Registration Act and Attempts to Influence U.S. Elections' in the Hart Senate Office Building on Capitol Hill, July 26, 2017 in Washington, DC. On Tuesday, the committee withdrew its subpoena for former Trump campaign chairman Paul Manafort as he agreed to turn over documents and continue negotiating about being interviewed by the committee. (Photo by Drew Angerer/Getty Images) Cornyn retains his dignity amid continued tumult in Congress
“With every project that you develop, you get better. You improve and you listen,” Lynd said.

The firm probably won’t pursue another project on the scale of the 62-story tower anytime soon, Lynd said. There are few properties in Austin where such a giant building could be constructed because of the limited size of the city’s downtown, its zoning laws and regulations preventing buildings from blocking views of the Texas State Capitol, he said.

He’s hopeful that he can one day build a high-rise in San Antonio, but the city lags behind Austin in demand for urban living. Another problem is that national investors don’t pay much attention to the Alamo City, he said.

“There are some high-rises that have been announced here. We just have to be careful about how much,” Lynd said. “The issue with San Antonio is … it just has a very limited amount of demand.”

Downtown San Antonio’s apartment market seems to be heating up, though. Two high-end apartment complexes, Cellars at Pearl and the Maverick, have been completed in the downtown area this year. A few other high-rise residential projects are in the works, including an $83 million, 21-story apartment tower across the street from City Hall.

“San Antonio is just a little bit behind Austin, but I think we are making tremendous projects here,” Lynd said. “It’s just a matter of time.”
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  #185  
Old Posted Aug 20, 2017, 5:01 AM
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The entire article was free when I clicked on it from Facebook.

San Antonio developer Lynd to build tallest building … in Austin

By Richard WebnerAugust 18, 2017 Updated: August 18, 2017 3:10pm

The tower’s construction is expected to start in nine months; the offices will take about two years to build, while the residences will be finished in four years.

The tower’s construction is expected to start in nine months; the offices will take about two years to build, while the residences will be finished in four years.

A San Antonio residential developer is about to tackle its biggest project yet: an 850-foot, 62-story skyscraper with 345 luxury apartments and half a million square feet of office space.

But it will be in Austin.

Lynd Development Partners, a firm based on the Northwest Side known for building luxury apartment complexes around The Rim, is teaming up with Lincoln Property Co. of Dallas on the tower, which is expected to be Austin’s tallest building by more than 150 feet, said Mike Lynd Jr., the firm’s president and CEO. It will be at the corner of Sixth and Guadalupe streets, an area of Austin’s downtown that is crowded with construction cranes for new skyscrapers.

“We didn’t aspire to build the tallest building in Austin,” Lynd said. “We look at projects economically. I don’t look at projects to make my ego feel good.”

The tower’s construction is expected to start in nine months; the offices will take about two years to build, while the residences will be finished in four years, Lynd said. The development partners are under contract to buy the 1.6-acre property, which is currently the site of an extended-stay hotel.

The partners plan to wait until development plans are complete to line up financing, Lynd said. He’s not sure yet what the tower’s cost will be.

The tower, which was first reported by the Austin American-Statesman, will take advantage of the booming real estate market in Austin, especially in its downtown. Austin’s educated workforce, its reputation as a hip city for Millennials and efforts by the city’s business leaders to market it nationwide are attracting companies and residents, Lynd said. Companies such as Amazon, Facebook and Homeaway have expanded their workforces in the city in the last year, according to the Austin Chamber of Commerce.

Another advantage for Austin’s downtown is that the city has few residential submarkets, Lynd said — in other words, a large portion of its demand is centered downtown, while in San Antonio it is spread among hubs such as The Rim area, the Medical Center and the far West Side.

Lynd Development brought Lincoln Property Co. on board to handle the tower’s office component. The high cost of the property made it uneconomical to only develop it with residences, Lynd said. He declined to share what the purchase price will be, but the property was assessed at $19.5 million this year by the Travis Central Appraisal District.

The tower, which does not yet have a name, is roughly three times the size of any project that Lynd Development has tackled before, he said. The firm focused on building garden-style apartment complexes until 2010, when it constructed its first high-rise — the Env, a 28-story luxury apartment tower near Chicago’s riverfront. After the success of that project, it built high-rises in Austin, Denver and Miami.

The firm probably won’t pursue another project on the scale of the 62-story tower anytime soon, Lynd said. There are few properties in Austin where such a giant building could be constructed because of the limited size of the city’s downtown, its zoning laws and regulations preventing buildings from blocking views of the Texas State Capitol, he said.

He’s hopeful that he can one day build a high-rise in San Antonio, but the city lags behind Austin in demand for urban living. Another problem is that national investors don’t pay much attention to the Alamo City, he said.

“There are some high-rises that have been announced here. We just have to be careful about how much,” Lynd said. “The issue with San Antonio is … it just has a very limited amount of demand.”

Downtown San Antonio’s apartment market seems to be heating up, though. Two high-end apartment complexes, Cellars at Pearl and the Maverick, have been completed in the downtown area this year. A few other high-rise residential projects are in the works, including an $83 million, 21-story apartment tower across the street from City Hall.

“San Antonio is just a little bit behind Austin, but I think we are making tremendous projects here,” Lynd said. “It’s just a matter of time.”

RWebner@express-news.net

@rwebner

Richard Webner
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  #186  
Old Posted Aug 20, 2017, 6:59 PM
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So the office portion will open while the residential portion is still under construction? The residential portion will take an additional two years to complete? Sounds like phase one and phase two to me, and that makes me uncomfortable. Those "phase two" things often never happen. Final thought with regards to the office portion, will there be tenants willing to put up with an additional two years of construction on the site, which would undoubtedly produce inconvenience and disruption from time to time and interfere with normal operations in the office portion.
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  #187  
Old Posted Aug 20, 2017, 7:38 PM
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Originally Posted by austlar1 View Post
So the office portion will open while the residential portion is still under construction? The residential portion will take an additional two years to complete? Sounds like phase one and phase two to me, and that makes me uncomfortable. Those "phase two" things often never happen. Final thought with regards to the office portion, will there be tenants willing to put up with an additional two years of construction on the site, which would undoubtedly produce inconvenience and disruption from time to time and interfere with normal operations in the office portion.
My thinking is that they may have a big tenet lined up whom understands the timeline and logistics of a two stepped/phased build. Perhaps the big Question for the team is how many residential units can they sell? Austin residential projects have been selling out quickly in recently offered buildings. Hopefully this means additional floors will be added to the building during the office build, while they are possibly selling the residential units and gauging the market.

Last edited by AusTex; Aug 20, 2017 at 7:42 PM. Reason: added words for clarity
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  #188  
Old Posted Aug 20, 2017, 10:31 PM
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Quote:
Originally Posted by AusTex View Post
My thinking is that they may have a big tenet lined up whom understands the timeline and logistics of a two stepped/phased build. Perhaps the big Question for the team is how many residential units can they sell? Austin residential projects have been selling out quickly in recently offered buildings. Hopefully this means additional floors will be added to the building during the office build, while they are possibly selling the residential units and gauging the market.

I believe that is exactly what they plan to do hence why it's being marketed as 62 stories but could end up rising into the 70+ floor range when all is said and done.

The article did clarify something for me which is that they haven't secured or at least "officially" secured financing. However I've found in some cases when developers say they haven't secured financing publicly, it doesn't necessarily mean that there isn't financing forthcoming.

I still feel confident that this building has a high chance of getting built.
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  #189  
Old Posted Aug 22, 2017, 2:58 AM
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Originally Posted by ILUVSAT View Post
Too bad the article is behind a paywall.
There's sneaky little ways to get around that
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  #190  
Old Posted Aug 26, 2017, 2:58 AM
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C'mon guys, a failure out of the gate? The site plan was CC rejected. No worry though, that's just an Admin mistake.

https://abc.austintexas.gov/web/perm...rtyrsn=5189526
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  #191  
Old Posted Aug 26, 2017, 3:03 AM
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Originally Posted by The ATX View Post
C'mon guys, a failure out of the gate? The site plan was CC rejected. No worry though, that's just an Admin mistake.

https://abc.austintexas.gov/web/perm...rtyrsn=5189526
Can I ask how you know it is an admin mistake or are you just being hopeful or perhaps snarky?
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  #192  
Old Posted Aug 26, 2017, 5:14 AM
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Does that mean they have to make it shorter because it was rejected? Cause that's such a bummer...
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  #193  
Old Posted Aug 26, 2017, 1:46 PM
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"Rejected" just means there was something wrong with the initial application and the City's Case Manager for the project rejected it. There's no way to know what was wrong, but this doesn't seem to be an unusual occurrence. They'll just correct the problem and re-file.
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Last edited by The ATX; Aug 26, 2017 at 6:38 PM.
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  #194  
Old Posted Aug 26, 2017, 3:03 PM
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Here are some more views of the model from Gensler.






https://www.instagram.com/blume_george/
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  #195  
Old Posted Aug 26, 2017, 3:54 PM
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Thanks ATX! Seeing it next to the model of Third + Shoal truly depicts just what a monster this will be.
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  #196  
Old Posted Aug 26, 2017, 4:19 PM
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In this collection of models, the one on the far right looks like it might be 4th & Red River.

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  #197  
Old Posted Aug 26, 2017, 4:50 PM
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The architect's Instagram site is where the model photos came from. He also has the renderings posted, and he makes this comment on the renderings:

Quote:
6th + Guadalupe. Tallest building in Austin in 4 years. 850'. And counting.
https://www.instagram.com/blume_george/
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  #198  
Old Posted Aug 26, 2017, 11:42 PM
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The architect's Instagram site is where the model photos came from. He also has the renderings posted, and he makes this comment on the renderings:

And counting.

https://www.instagram.com/blume_george/
Hmm, I hope so but it seems interesting to me to make these detailed 3d prototypes only for them to be changed if they add height. I suppose maybe the base wouldn't change any so these would still be useful for everything else besides the upper portion.
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  #199  
Old Posted Aug 27, 2017, 12:46 AM
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FYI... the cool thing about the model you are looking at is that it is a 3D printed model.
That's cool because that means they are probably will to create more models along the development process. ( saw that In architects notes on the images)

Thats also cool... because that means and intern did not spend weeks building it. ( It's sad because that means they might not have enough work to keep more interns on! )
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  #200  
Old Posted Aug 27, 2017, 6:03 AM
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Man, I would love to see them throw all those models together for a 3D printed model of downtown. It would be really something to have that on display somewhere.
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