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Postal Service completes sale of downtown Austin station
By Brian Gaar
AMERICAN-STATESMAN STAFF
Published: 8:04 p.m. Friday, May 18, 2012

Quote:

The U.S. Postal Service has completed the sale of its downtown station at West Sixth and Guadalupe streets to Atlanta-based Novare Group and its Austin partner, Andrews Urban, the development firms said Friday.

The Postal Service will continue to use the facility until early 2013, "pending a final determination of the new location of its retail operations serving downtown Austin" according to a news release.

In January, the Postal Service said its downtown carrier operations would be relocated to its station at 3903 S. Congress Ave.

Novare Group and Andrews Urban, which developed the 360 condominiums, a 44-story high-rise near the downtown post office site, haven't said what they plan to do with the property.

In December, Andrews Urban President Taylor Andrews had said the site would be redeveloped, with options including office, residential, retail and/or hotel uses. The firms partnered with an affiliate of Austin's Endeavor Real Estate Group on the purchase.

"This is a key block in Austin, and we and Novare are both very pleased to have completed the acquisition and to be working with Endeavor," Andrews said.

"We are very fortunate to have the opportunity to partner with Novare and Andrews Urban on what we believe is one of the finest pieces of real estate in the city," said Jamil Alam, managing principal of Endeavor Real Estate Group.

Terms of the deal weren't released, but the property has an appraised value of $17.1 million, according to the Travis County Central Appraisal District.

...

Read More : http://www.statesman.com/business/po...e=rss_business

...

http://www.statesman.com/multimedia/...c_1472125c.jpg

some of these projects seem like eternity for them to take off. novare is one of them.

Can someone refresh my memory? What was planned for that post office location?

Quote:

Originally Posted by Syndic (Post 5706581)

Can someone refresh my memory? What was planned for that post office location?

http://img638.imageshack.us/img638/5360/image1pck.jpg

Further back than that they wanted to develop two towers across the street from each other. One would be 35 floors and around 450 to 480 feet tall, while the other was planned as 40+ floors and up to 550 feet.

With all of our recent downtown development, I've noticed a trend. This is something that's starting to worry me:

http://www.carfreeinbigd.com/2012/04...all-block.html

If we're talking about creating density, shouldn't that also include density of buildings, as opposed to just density of people?

That isn't planned for the post office site as far as I know...I believe IBC is adjacent to the PO.

Quote:

Originally Posted by JoninATX (Post 5706587)

http://img638.imageshack.us/img638/5360/image1pck.jpg

$147 million Waller Creek Tunnel Project beneath downtown on time, budget :D
http://www.statesman.com/news/local/...n-2365543.html

^^^ Yes there is a parade of dump trucks hauling away dirt every day at the site. Good to see they're on schedule.

Quote:

Originally Posted by priller (Post 5707002)

^^^ Yes there is a parade of dump trucks hauling away dirt every day at the site. Good to see they're on schedule.

YNN has a story running this weekend with footage from inside the tunnel. It's a surprisingly big tunnel.

Quote:

Originally Posted by ahealy (Post 5706880)

$147 million Waller Creek Tunnel Project beneath downtown on time, budget :D
http://www.statesman.com/news/local/...n-2365543.html

I guess there is a first for everything, even Austin. lol. They better not jinx this!

This is a very cool picture from that article.

http://www.statesman.com/multimedia/...__1473491c.jpg

Waller Creek is a pathetic trickle most of the time. That tunnel should definitely handle some flood action.

Quote:

Originally Posted by Hill Country (Post 5707038)

Waller Creek is a pathetic trickle most of the time. That tunnel should definitely handle some flood action.

What's going to make it so nice is that water will be flowing year round. I anticipate that section of the city is going to explode, starting with the new Manchester convention center hotel. Also hear the city is trying to sell the PD HQ so that will open up another stretch to new development.

Quote:

Originally Posted by Austin1971 (Post 5707126)

Also hear the city is trying to sell the PD HQ so that will open up another stretch to new development.

where did you hear this? would like for this to happen at least some time in the near future.. that pd hq is a huge stinker and it sucks more that its on 7th st right next to i-35. it's just placed in such a terrible location and plus the building is hideous!

Quote:

Originally Posted by migol24 (Post 5707264)

APD has had a new HQ on their wishlist for a while. It was even proposed to be put on the bond list this year, but was eventually put on hold for other projects.

Quote:

Originally Posted by migol24 (Post 5707264)

Once the tunnel opens those parcels of land taken out of the flood plain will double maybe even triple in value. My guess is the city is waiting for an offer they can't refuse. The PD HQ was not purpose built. It was originally built in the early 80's to be the HQ of a bank but the deal fell through. The city bought it cheap. It's a horrible use of space. There's a huge atrium which is not practical for a PD. Maybe Trump will buy it and knock it down and build a nice scraper....

Quote:

Originally Posted by ahealy (Post 5706862)

That isn't planned for the post office site as far as I know...I believe IBC is adjacent to the PO.

Your right, it was a 40st. residential tower that was going to take its place.

Quote:

Originally Posted by JoninATX (Post 5707782)

A better picture of The Whitley building.

http://www.loopnet.com/Attachments/D...97CB5B5E__.jpg

http://www.loopnet.com/Listing/17650...zos-Austin-TX/

Cool, thanks.

Here it is a little bigger.

http://www.loopnet.com/xnet/mainsite...se&ExactDim=-1
http://www.loopnet.com/xnet/mainsite...se&ExactDim=-1

Quote:

Originally Posted by BevoLJ (Post 5707814)

Cool, thanks.

Here it is a little bigger.

http://www.loopnet.com/xnet/mainsite...se&ExactDim=-1
http://www.loopnet.com/xnet/mainsite...se&ExactDim=-1

It's not totally terrible after all. My biggest thing is the ground level retail... I am hoping they put something useful in.

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