AUSTIN | Waterline (98 Red River) | 1,022 Feet | 73 Floors | U/C - Page 43

The ATX · #**841** Posted **Jul 5, 2019, 8:50 PM**

This is on the agenda for the July 9 Planning Commission meeting as part of the site plan extension. It is only for the original three Waller Park Place towers and not the rumored 1,000,000 sq. ft. office tower on the parking lot on Driskill.

http://www.austintexas.gov/edims/document.cfm?id=322983

The ATX · #**842** Posted **Jul 10, 2019, 1:19 PM**

No surprise. The site plan extension passed on consent. But one item concerning Red River right of way along this project will be updated on the site plan extension:

http://www.austintexas.gov/edims/document.cfm?id=323191

The City must be planning on some roadway improvements in the area.

freerover · #**843** Posted **Jul 10, 2019, 2:02 PM**

Quote:

Originally Posted by The ATX

No surprise. The site plan extension passed on consent. But one item concerning Red River right of way along this project will be updated on the site plan extension:

http://www.austintexas.gov/edims/document.cfm?id=323191

The City must be planning on some roadway improvements in the area.

Probably straightening Red River.

The ATX · #**844** Posted **Aug 25, 2019, 12:55 AM**

Relax, relax, there is no new news. But I was wondering if anyone working in commercial real estate has heard anything more about the ~1,000,000 Sq. Ft. office tower planned for the parking lot next to IHOP? It was first mentioned by the 90 Rainey developer when that project was announced.

In May it was announced that the We Company had $2.9 Billion available in its Ark Fund to finance projects like this. So they have the money to develop this project if its one of their priorities.

austlar1 · #**845** Posted **Aug 25, 2019, 3:26 AM**

Quote:

Originally Posted by The ATX

Relax, relax, there is no new news. But I was wondering if anyone working in commercial real estate has heard anything more about the ~1,000,000 Sq. Ft. office tower planned for the parking lot next to IHOP? It was first mentioned by the 90 Rainey developer when that project was announced.

In May it was announced that the We Company had $2.9 Billion available in its Ark Fund to finance projects like this. So they have the money to develop this project if its one of their priorities.

I have a feeling that the We Company is banking this real estate in much the same manner that previous owners have done. They are burning through massive amounts of cash and have huge lease obligations all over the country. It is hard to see them developing these parcels as planned given their current financials. I guess more will be known after their IPO next month. Presumably they are eager to grow their WeLive brand, which is slated to be a major component of whatever they might build here.
https://www.cnbc.com/2019/08/14/wewo...g-for-ipo.html

H2O · #**846** Posted **Aug 25, 2019, 1:54 PM**

We Work / We Live / We Play / We 'tail

austlar1 · #**847** Posted **Sep 13, 2019, 8:03 PM**

https://www.reuters.com/article/us-w...-idUSKCN1VY12V

WestAustinite · #**848** Posted **Sep 13, 2019, 8:43 PM**

I can't imagine this project ever getting built by WeWork, nor can I imagine WeWork surviving the next recession given their enormous long term lease obligations.

freerover · #**849** Posted **Sep 13, 2019, 10:01 PM**

Quote:

Originally Posted by WestAustinite

I can't imagine this project ever getting built by WeWork, nor can I imagine WeWork surviving the next recession given their enormous long term lease obligations.

They still haven't received their 5 year extension to the site plan which expired earlier this year. They have until April 21, 2020 to satisfy city notes.

Jdawgboy · #**850** Posted **Sep 13, 2019, 10:39 PM**

My hope is something spectacular will be built on this site. I just think it will be a completely different development than what has been proposed from the original version to the most recent incarnation.

We vs us · #**851** Posted **Sep 24, 2019, 8:51 PM**

Oh hey. WeWork's embattled CEO is stepping down, but will stay chairman of the board.

Also, they've been testing the idea of laying off about a 1/3 of their workforce.

So, you know, everything's cool and normal ahead of the (nonexistent?) IPO.

https://www.theinformation.com/artic...d-of-workforce

The ATX · #**852** Posted **Sep 24, 2019, 11:05 PM**

I see this as the third strike (Sutton being #1 & McCourt Global being #2) for this project as proposed. WeWork is burning through too much cash and has to stop the bleeding.

urbancore · #**853** Posted **Sep 25, 2019, 12:03 AM**

Hopefully Nate will swoop in.

austlar1 · #**854** Posted **Sep 25, 2019, 4:19 AM**

Quote:

Originally Posted by The ATX

I see this as the third strike (Sutton being #1 & McCourt Global being #2) for this project as proposed. WeWork is burning through too much cash and has to stop the bleeding.

Prior to Sutton, wasn't there a two or three building complex proposed to house a late 1990s sexy local software company (can't recall name) on the original creek-side parcels? I guess that proposal differed significantly from the Sutton, McCourt Global, WeWork plan, but the overall site seems to be plagued with false starts. I wonder whether anything will get built there in the current construction cycle?

Jdawgboy · #**855** Posted **Sep 25, 2019, 5:17 AM**

Quote:

Originally Posted by urbancore

Hopefully Nate will swoop in.

Good one!

Jdawgboy · #**856** Posted **Sep 25, 2019, 5:19 AM**

Quote:

Originally Posted by austlar1

Prior to Sutton, wasn't there a two or three building complex proposed to house a late 1990s sexy local software company (can't recall name) on the original creek-side parcels? I guess that proposal differed significantly from the Sutton, McCourt Global, WeWork plan, but the overall site seems to be plagued with false starts. I wonder whether anything will get built there in the current construction cycle?

I thought those were further over to where the Four Seasons Residences now stands and the "Another world class project metal shed" site. Wasn't it Vignet or Vignett or something.

ToTheSky · #**857** Posted **Sep 25, 2019, 11:46 AM**

Quote:

Originally Posted by Jdawgboy

I thought those were further over to where the Four Seasons Residences now stands and the "Another world class project metal shed" site. Wasn't it Vignet or Vignett or something.

That was it, Vignette. Back when B2B was the new hot catch phrase right before the first incarnation of the all things intarwebnet flamed out in the Y2K tech crash.

austlar1 · #**858** Posted **Sep 25, 2019, 6:22 PM**

Quote:

Originally Posted by Jdawgboy

I thought those were further over to where the Four Seasons Residences now stands and the "Another world class project metal shed" site. Wasn't it Vignet or Vignett or something.

I think the Vignette proposal was for the block along the creek where The Chain Drive and the buildings in front of The Chain Drive facing Red River once stood.

KevinFromTexas · #**859** Posted **Sep 25, 2019, 7:57 PM**

This was the Vignette proposal. They originally showed two towers, with a third site for another. The tower on the far left was the previous design for the Four Seasons Residences.

Articles
https://www.austinchronicle.com/news/2000-08-25/78401/
https://www.austinmonitor.com/storie...e-run-scoring/

Four Seasons Residences 2000 proposal.

This was the first design I ever saw for the Four Seasons Residences.

Jdawgboy · #**860** Posted **Sep 25, 2019, 9:48 PM**

So basically it covered both areas.