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  #841  
Old Posted Jul 5, 2019, 8:50 PM
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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
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Last edited by The ATX; Jul 8, 2019 at 7:39 PM.
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  #842  
Old Posted Jul 10, 2019, 1:19 PM
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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.
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  #843  
Old Posted Jul 10, 2019, 2:02 PM
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Originally Posted by The ATX View Post
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.

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  #844  
Old Posted Aug 25, 2019, 12:55 AM
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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.
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  #845  
Old Posted Aug 25, 2019, 3:26 AM
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Originally Posted by The ATX View Post
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
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  #846  
Old Posted Aug 25, 2019, 1:54 PM
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  #847  
Old Posted Sep 13, 2019, 8:03 PM
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  #848  
Old Posted Sep 13, 2019, 8:43 PM
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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.
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  #849  
Old Posted Sep 13, 2019, 10:01 PM
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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.
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  #850  
Old Posted Sep 13, 2019, 10:39 PM
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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.
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