Austin | River Park - 4700 Riverside (Formerly Project Catalyst) | Proposed

[The ATX]

This passed on second reading with a closer vote than the first reading 6-5. First reading was 9-2. Third reading looks to be on 09/19.

https://www.kvue.com/article/news/lo...2-f6761cdb0216

[freerover]

Originally Posted by The ATX

This passed on second reading with a closer vote than the first reading 6-5. First reading was 9-2. Third reading looks to be on 09/19.

https://www.kvue.com/article/news/lo...2-f6761cdb0216

Casar, Garza, Pool, Alter and Tovo opposed.

I just don't buy the displacement argument with this complex. The turnover is insanely high that anyone at one of the phases that is closing will have a unit to transfer to and the developer is giving them moving funds. %90 of residents leave the complex within 2 years.

[mumu]

Originally Posted by freerover

Casar, Garza, Pool, Alter and Tovo opposed.

I just don't buy the displacement argument with this complex. The turnover is insanely high that anyone at one of the phases that is closing will have a unit to transfer to and the developer is giving them moving funds. %90 of residents leave the complex within 2 years.

Project Catalyst is probably not going to pass. All it'll take is one more vote of no. The concern is not so much with residents at this complex, but that 4 million square feet of office space will accelerate the rapid redevelopment ( gentrification ) of many of the other older apartment complexes in the neighborhood that are still fairly cheap market rate affordable.

I think its failure will be short sighted. Lots of the older garden style apartments can be replaced with new higher density buildings with many affordable type units, while also adding far more market rate apartments on a major bus or rail transit corridor too.

This neighborhood is going to be gentrified whether anyone likes it not; it's just a matter of how fast and how to make the best of it.

Project Catalyst's land will become 40-50 foot buildings only, with no affordable units. It'll still be gentrified.

[The ATX]

Originally Posted by mumu

Project Catalyst is probably not going to pass. All it'll take is one more vote of no. The concern is not so much with residents at this complex, but that 4 million square feet of office space will accelerate the rapid redevelopment ( gentrification ) of many of the other older apartment complexes in the neighborhood that are still fairly cheap market rate affordable.

I think its failure will be short sighted. Lots of the older garden style apartments can be replaced with new higher density buildings with many affordable type units, while also adding far more market rate apartments on a major bus or rail transit corridor too.

This neighborhood is going to be gentrified whether anyone likes it not; it's just a matter of how fast and how to make the best of it.

Project Catalyst's land will become 40-50 foot buildings only, with no affordable units. It'll still be gentrified.

Yup, just one more turncoat on CC will kill it as it proposed as you stated. But the developer will make changes and probably develop the area in a more piecemeal, less connected way as well as less dense and less urban. The keep Central Austin Suburban mindset needs to go away.

[austlar1]

Originally Posted by The ATX

Yup, just one more turncoat on CC will kill it as it proposed as you stated. But the developer will make changes and probably develop the area in a more piecemeal, less connected way as well as less dense and less urban. The keep Central Austin Suburban mindset needs to go away.

^^^It would be incredibly short sighted to reject this development. Surely some sanity will prevail when this comes up for a final vote. This could be such a tax revenue win for the city over the long haul. The developers need to get their PR act together for a final compelling effort to push this over the finish line. The opposition is mau-mauing the flak catchers here, and it seems to be working.

[freerover]

Final vote was suppose to be today. The developer has asked for the zoning case to be postponed until Oct. 17. Armbrust & Brown PLLC attorney Michael Whellan, representing the applicants, said they needed a few more signatures on tweaks to restrictive covenant provisions related to the property.

[mumu]

The 3rd and final vote is still on tomorrow as far as I know. This project is arguably the biggest concentrated area of up-zone the city will have made in a long time.
2pm+ is scheduled time.

[freerover]

Originally Posted by mumu

The 3rd and final vote is still on tomorrow as far as I know. This project is arguably the biggest concentrated area of up-zone the city will have made in a long time.
2pm+ is scheduled time.

They can't afford to lose a single vote from the mayor, Harper Madison, Jimmy, Page, Kitchen and Pio.

[427MM]

And then there was this:

ECHO and 4700 East Riverside to Provide Homes for 100 Homeless
for 5 years Plus $1.75 Million to Fund On-Site Support Services
MOU marks the largest commitment ever made by private companies to house the homeless in Austin

AUSTIN, TEXAS (Oct. 16, 2019) — The owners of the proposed 4700 East Riverside project have entered into an agreement with the Ending Community Homelessness Coalition (ECHO) to provide housing for 100 people currently experiencing homelessness for up to five years.

Additionally, the owners – namely Presidium and Nimes Real Estate – will donate $1.75 million over that time period to fund in-home healthcare and social workers to support the new residents, who will be located within the owners’ five apartment complexes along and near the East Riverside Corridor.

Presidium and Nimes have signed a Memorandum of Understanding (MOU) for the arrangement, which advocates for the homeless say represents the largest commitment ever made by private companies to house the homeless in Austin. Both ECHO and the owners will begin transitioning individuals currently experiencing homelessness upon approvals from the Austin City Council for the proposed mixed-use project called 4700 East Riverside, where the five complexes now stand.

“ECHO is grateful for this commitment to house some of Austin’s most vulnerable residents experiencing homelessness. Ending homelessness in Austin and Travis County will require partnerships with the private sector such as this one ,” said ECHO Executive Director Matt Mollica. “This arrangement provides access to a quality home for people experiencing homelessness in Austin. The commitment of supportive service dollars from Presidium and Nimes Real Estate is a crucial component to this agreement. ECHO will work closely with our community partners to ensure that the people moving into 4700 Riverside have access to the support they need to thrive in their new community.”

Michael Whellan, the attorney for 4700 East Riverside, agrees.

“This agreement ensures that 4700 East Riverside will make a significant contribution to the City’s Affordable Housing needs both immediately and long-term,” Whellan said. “Couple that with the way it improves mobility, connectivity and the environment – and you truly have one of the most beneficial proposals I think the community has ever had the opportunity to consider.”

A previous MOU between Presidium and ECHO that took effect this summer has already enabled 18 ECHO clients to move into apartments on the site owned by Presidium.

The contribution to housing the homeless is in addition to the property owners’ commitment to build 400 to 565 income-restricted Affordable Housing units onsite as part of the 4700 East Riverside mixed-use development. With an estimated value of $90 million, it’s the largest Affordable Housing commitment in a private development ever made in Austin’s urban core. Coupled with the newly signed MOU with ECHO, the owners behind the proposed 4700 East Riverside have committed well over $100 million to battle Austin’s affordability and homelessness crisis.

“These owners recognize that they are a part of this community, and it’s why they have gone to such great lengths to listen to what the community wants and needs. They’ve truly listened – and responded with this historic proposal,” Whellan said.


About ECHO
The Ending Community Homelessness Coalition (ECHO) is a 501(c)(3) non-profit organization and is the lead agency that plans and implements community-wide strategies to end homelessness in Austin and Travis County. We are the backbone for the homeless services system and work closely with nonprofits and government agencies to coordinate assistance and housing for people experiencing homelessness in our community.

For ECHO media inquiries, contact Matt Mollica. For 4700 East Riverside inquiries, contact Kate Miller Morton.

[wwmiv]

My ex boyfriend gets housing through ECHO. They desperately need the help. In particular, a lot of lgbtq youth go through them.

[427MM]

It will be interesting for sure. First reading went 9-2. Second reading 6-5. Now third reading--??? From the outside looking in it seems like an easy vote but politics....

[urbancore]

when is the vote?

if this goes south, I will be pissed. not shocked....but pissed off.

bout to reach out to AK now.

[Novacek]

Originally Posted by urbancore

when is the vote?

if this goes south, I will be pissed. not shocked....but pissed off.

bout to reach out to AK now.

I'm cautiously optimistic. Garza voted for the first time, and while she voted against on the second reading, I interpreted her comments at the time as signalling that she was willing to come back around if the developer provided more.

Who knows if this is enough to swing her, but it's definitely more (and extremely topical).

[freerover]

Originally Posted by Novacek

I'm cautiously optimistic. Garza voted for the first time, and while she voted against on the second reading, I interpreted her comments at the time as signalling that she was willing to come back around if the developer provided more.

Who knows if this is enough to swing her, but it's definitely more (and extremely topical).

It's also possible the homeless nugget could bring in Alter or Pool.

[KevinFromTexas]

The 100 homeless number is nice, but I think they could and should raise it to entice the council to go along with it. This rezoning is no doubt going to make it possible to add several thousand housing units. 100 seems like a mighty small number compared to what they'll be able to build. This area won't be as big as downtown or even the Domain, but it'll still be no less than what would amount to our "third downtown" eventually.

When I look at that area, I see it as prime land to be redeveloped. All it is now are 2 and 3 story apartment buildings surrounded by mazes of parking lots. I've always assumed that the area would see high rises. Riverside to me always looked like it should have been lined with high rises all the way to the airport.

[427MM]

Originally Posted by KevinFromTexas

The 100 homeless number is nice, but I think they could and should raise it to entice the council to go along with it. This rezoning is no doubt going to make it possible to add several thousand housing units. 100 seems like a mighty small number compared to what they'll be able to build. This area won't be as big as downtown or even the Domain, but it'll still be no less than what would amount to our "third downtown" eventually.

When I look at that area, I see it as prime land to be redeveloped. All it is now are 2 and 3 story apartment buildings surrounded by mazes of parking lots. I've always assumed that the area would see high rises. Riverside to me always looked like it should have been lined with high rises all the way to the airport.

Posted for third and final reading today Items 46, 47 and 48 on the agenda http://www.austintexas.gov/departmen...191017-reg.htm

First vote--nine for, Casar and Garza against
Second vote--six for, Casar, Garza, Tovo, Pool and Alter against
Third vote--...???

[freerover]

Speakers are there to speak on it. Not sure how many.

[austlar1]

Somebody please post update.

[freerover]

Originally Posted by austlar1

Somebody please post update.

They are dealing with homeless ordinance. LOTS of speakers.

[austlar1]

I feel like I am waiting for election results. I really want this thing approved.