Austin | Hanover Republic Square | 516 Feet | 44 Floors | Complete - Page 8

We vs us · #**141** Posted **Apr 8, 2019, 12:58 AM**

Quote:

Originally Posted by The ATX

This one should be starting soon - at least the demo part. Building permits for the demo were issued today for all three buildings. The demo was previously approved, but the building permits allow for the start of the actual demo. Permits for capping the water and waste water were filed today as well.

I'm embarrassed to say I completely forgot that this one was happening. And hell -- I walk past those awful storefronts almost every day.

Here's a question -- what are the chances of the Chase garage + 4 levels of offices in the pic below being redeveloped? It's one of those parcels I see almost daily that seems way underutilized for its location.

Jdawgboy · #**142** Posted **Apr 8, 2019, 1:34 AM**

Quote:

Originally Posted by We vs us

And hell -- I walk past those awful storefronts almost every day.

They are aweful club and bar fronts actually.

Sigaven · #**143** Posted **Apr 8, 2019, 4:54 AM**

Quote:

Originally Posted by We vs us

I'm embarrassed to say I completely forgot that this one was happening. And hell -- I walk past those awful storefronts almost every day.

Here's a question -- what are the chances of the Chase garage + 4 levels of offices in the pic below being redeveloped? It's one of those parcels I see almost daily that seems way underutilized for its location.

I've been wondering the same thing. The entire street front is just open parking garage - not a single retail space. Redeveloping that block would really help to liven up that street.

StoOgE · #**144** Posted **Apr 8, 2019, 1:12 PM**

Quote:

Originally Posted by We vs us

Here's a question -- what are the chances of the Chase garage + 4 levels of offices in the pic below being redeveloped?

In the long-run? 100%. There is no way that stays so underdeveloped with everything happening around it.

We vs us · #**145** Posted **Apr 8, 2019, 1:46 PM**

Quote:

Originally Posted by StoOgE

In the long-run? 100%. There is no way that stays so underdeveloped with everything happening around it.

The other parcel in that area I'm interested in is the parking garage attached to the Chase tower, just one block further west. That one screams out for redevelopment, too.

I'm pretty sure that everything that isn't nailed down is a candidate for a taller building at this point.

StoOgE · #**146** Posted **Apr 8, 2019, 5:03 PM**

The only garage I want surviving is the one with Garage the bar in it.

KevinFromTexas · #**147** Posted **Apr 8, 2019, 5:40 PM**

Quote:

Originally Posted by We vs us

The other parcel in that area I'm interested in is the parking garage attached to the Chase tower, just one block further west. That one screams out for redevelopment, too.

I'm pretty sure that everything that isn't nailed down is a candidate for a taller building at this point.

I would so love to see that garage go away. Just don't take the Chase Bank Tower. I'm kind of a softy for it. By the way, if that building were demolished it would be the first time one of our former tallest were torn down. It didn't hold the title for long, only a year, but still.

We vs us · #**148** Posted **Apr 8, 2019, 5:49 PM**

Interestingly:

Chase Tower in downtown Austin to hit market

https://www.statesman.com/news/20190...-to-hit-market

Quote:

The 21-story Chase Tower in downtown Austin will go on the sales block starting next week.

The building, which has been renovated since the current owners acquired it in 2017, is on a full city block at 221 W. Sixth St. The tower is 90 percent leased, with tenants including WeWork, Facebook and Procore Technologies.

The tower was completed in 1974 and has about 390,000 square feet of space.

“We are hitting the market next week,” said Mike McDonald, vice chairman in Cushman & Wakefield’s Dallas office, which is taking the lead in marketing the building.

McDonald said the building could command a price of $240 million, or about $625 per square foot. At $240 million, the sale price would be $65 million more than the $175 million ($449 per square foot) that Goldman Sachs Asset Management and Lincoln Property Co. paid in early 2017.

Sigaven · #**149** Posted **Apr 8, 2019, 6:03 PM**

Quote:

Originally Posted by We vs us

The other parcel in that area I'm interested in is the parking garage attached to the Chase tower, just one block further west. That one screams out for redevelopment, too.

I would hope that every standalone garage downtown will be redeveloped eventually. Even the one for the monarch tower.....

paul78701 · #**150** Posted **Apr 8, 2019, 6:27 PM**

Quote:

Originally Posted by KevinFromTexas

I would so love to see that garage go away. Just don't take the Chase Bank Tower. I'm kind of a softy for it. By the way, if that building were demolished it would be the first time one of our former tallest were torn down. It didn't hold the title for long, only a year, but still.

Redeveloping that garage would be a tough sell. It could be difficult to find interim parking for the building.

I would just be happy if they redeveloped the ground floor of that building to make it more active and/or allow for retail.

Jdawgboy · #**151** Posted **Apr 8, 2019, 6:44 PM**

This is going a bit off topic but I can't remember which thread it was posted in.

Who was it that recently posted they had heard from someone in real estate about how tight the DT market is and that virtually all the new office space that us under construction is pretty much spoken for.. If that's the case then I would venture a guess that both Republic Square and 6× are a sure bet on happening. I also think that there must be some yet to be announced office towers in the works that we don't know about. How much longer before we hear of an office tower in the 50+ story range? You'd think it's right around the corner considering the kind of demand there is.

And of course that will drive even more residential towers like Hanover.

The ATX · #**152** Posted **Apr 8, 2019, 6:47 PM**

According to this right of way permit the demo is scheduled to take place between 04/13 to 05/31.

https://abc.austintexas.gov/web/perm...pertyrsn=91742

AusTxDevelopment · #**153** Posted **Apr 8, 2019, 7:30 PM**

Quote:

Originally Posted by paul78701

Redeveloping that garage would be a tough sell. It could be difficult to find interim parking for the building.

I would just be happy if they redeveloped the ground floor of that building to make it more active and/or allow for retail.

It would be difficult to make the ground floor into retail. It's currently Chase's drive thru bank. The south side is the ramp to get into/out of the garage, the east side is the entrance to Chase's drive thru, and the west side is the exit to Chase's drive through. You have cars coming & going from three sides. The north side faces a narrow alley. It's connected to Chase Bank Tower by a skybridge, however the buildings are owned by separate companies. Unico owns Lavaca Plaza and Goldman Sachs owns Chase Bank Tower.

Maximusx1 · #**154** Posted **Apr 8, 2019, 8:11 PM**

Quote:

Originally Posted by AusTxDevelopment

It would be difficult to make the ground floor into retail. It's currently Chase's drive thru bank. The south side is the ramp to get into/out of the garage, the east side is the entrance to Chase's drive thru, and the west side is the exit to Chase's drive through. You have cars coming & going from three sides. The north side faces a narrow alley. It's connected to Chase Bank Tower by a skybridge, however the buildings are owned by separate companies. Unico owns Lavaca Plaza and Goldman Sachs owns Chase Bank Tower.

I have always thought this is where our signature tower will go. It is surrounded by 4 of the top 10 most important streets in town. All of the buildings in the block are tear down candidates and there is no CVC. While the post office block will be big and important, I think this is where our monster tower will be.

Syndic · #**155** Posted **Apr 8, 2019, 11:13 PM**

While I'd also love for that garage to be redeveloped, I have to admit that I have a strange appreciation for it right now. The top level is a nice peaceful place to go at night and get a good view of the city. There's not many easily accessible places like that where you can easily go and get a good view.

paul78701 · #**156** Posted **Apr 9, 2019, 1:51 AM**

Quote:

Originally Posted by AusTxDevelopment

It would be difficult to make the ground floor into retail. It's currently Chase's drive thru bank. The south side is the ramp to get into/out of the garage, the east side is the entrance to Chase's drive thru, and the west side is the exit to Chase's drive through. You have cars coming & going from three sides. The north side faces a narrow alley. It's connected to Chase Bank Tower by a skybridge, however the buildings are owned by separate companies. Unico owns Lavaca Plaza and Goldman Sachs owns Chase Bank Tower.

I was referring to adding retail or whatnot to the Chase building itself, not the garage. From the above article about the Chase building being sold, however, the building and lobby (and whatever else) on the ground floor were recently renovated. So fat chance at that happening after the sale of the building.

I was saying that tearing down the garage adjacent and attached to the Chase building would be tough to do. I wasn't referring to the garage in the quoted photo.

People are talking about two separate garages here, thus the confusion.