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Another weird thing about this project is that they had their "official groundbreaking" and photo Op prior to the start of Demo and later announced that construction would start in April.
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I wouldn't be shocked if the WC is over-leveraged.
If so, and regarding the Lakeway project, I would be sooooo pissed off if I were a resident and they abandon that massive multi-family project. It's such an eyesore right now. I think this kid is over-his-skis... |
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And, regarding that, this last weekend I saw a few trucks going in and out of that site. Seems as if more prep work is happening. |
Looks like it's on hold indefinitely.
https://www.linkedin.com/posts/linke...member_android |
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Austin has a shortage of housing. So, this project would be welcomed - IF one was able to secure construction financing. I think they may be having some difficulty there. |
Even though I liked the bronze accents I’m actually glad this didn’t workout because I still think the original super tall was a publicity stunt probably to raise capital/recognition and I will forever be mad they got our hopes up.
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I’m more saddened by the fact they’ve given up Avenue Lofts for a grassy lot. Why not wait until they’re certain everything’s a go? Yet another developer leaves us with a dead zone Downtown. ������
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So this is dead, for sure?
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Unreal! What a clown. I knew this wasn't ever going to materialize
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Avenue Lofts was actually a rather special building. There is very little good "Moderne" architecture in Austin, and the Avenue Lofts building was a pretty good example of the style. We let it go to easily.
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The other structure on site was a beautiful home on the inside. I spent a Halloween weekend with the owners and their niece (a friend in college) once as an undergrad.
I suspect we are only annoyed at the demo because of the let down of no new build tower. It makes it even worse that the tower was downsized from initially great plans. At least with this site, at this rate, unless whatever proposal emerges from the ashes is an amazing skyline altering design, we are all setting ourselves up for the further disappointment of another downsize and value engineered final result. |
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I mean, I get it. But the post feels more squirrelly than it should. |
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