The Austonian | 683 Feet | 56 Floors
 

Searched the formum and could not find a thread dedicated to the Austonian. Wow, hard to believe!

Anyway, saw some news from Spain that Spain's largest construction company is declaring bankruptcy.

http://news.moneycentral.msn.com/pro...715&id=8896092

This spured me to investigate the Austonian construction company and ran across the following:


"Grupo Villar Mir,a construction and fertilizer conglomerate, was awarded the Grand Prix in Spain's second Best of European Business competition on October 18. (2006)

Spain's Minister of Industry, Joan Clos, presided over the gala event featuring more than 130 of the country's top business representatives and leading politicians in the prestigious Casino de Madrid. The highlight of the evening was the presentation of the Grand Prix award to Juan Miguel Villar Mir, President of Grupo Villar Mir, who had skillfully combined growth and European expansion into a successful strategy, according the high-level jury of the country's business leaders and leading academics."

....

Grand Prix

The Grand Prix of the competition was awarded to Grupo Villar Mir. Established in 1987, Grupo Villar Mir (GVM) is the largest Spanish family-owned industrial group with international activities. Its worldwide presence covers Latin America, North America, Africa, Europe, Asia and Australia in its various activities. GVM is involved in construction, property, fertilizers, ferro-alloys, energy production, engineering and IT systems. The jury awarded this special prize to the company, citing its means of creating growth throughout Europe, through its operations with OHL, Fertiberia and Ferroatlátlantica. The company ranked number one in the country in terms of acquisitions with relevant operations of these subsidiaries. Grupo Villar Mir had become the EU leader in the fertilizer sector and number three in Spain in the construction business. The jury praised its knowledge and expertise in turning around non-profitable companies in mature, competitive sectors.


http://www.best-of-european-business...ns_Finest.html


Looks like this company is well rounded. The fertilizer business around the world is on fire, so is energy and metals. Didn't do further research, but this company should be doing great in its other markets.

Interesting info. Convenient to be in both "ferro-metals" and construction. Probably gives them an advantage.

And the main Austonian construction thread is here:

http://forum.skyscraperpage.com/show...124186&page=10

Exciting time for us here in Austin, this is the first truely tall tower that will grace our skyline. Should compliment the city well.

Austonian Update
 

Thursday, July 31, 2008 - 1:33 PM CDT
Developer: Austonian proceeding as planned
Austin Business Journal

Seeking to dispel rumors that the luxury condo project is in trouble, developers of The Austonian on Thursday held a news conference on the building's recently completed 10th floor, unveiling new renderings and offering assurances that the 56-story tower will be completed as planned.

The Spanish company behind the $200 million project, Grupo Villar Mir, "believes in Austin and the long-term health of this market," says Terry Mitchell, strategic marketing director for the tower. Mitchell called "almost comical" the rumors percolating in the market that the developer might finish the lower floors and hold-off construction on the tower itself, or even change the use of the building altogether. Today, reporters were shown that work has already begun on the building's 11th floor, the first residential floor above the 10th floor amenity level that will include a pool, dog park, cabanas and other features.

Still, the development team declined to say how many of the building's 188 units have been sold, citing company policy. Mitchell did say the project brought in $6 million in sales in the last four weeks. About 75 percent of the buyers so far are Austin-area residents, he says.

A little over a month ago, Gottesman Residential, the company that had been tapped to sell The Austonian's units was replaced by another local brokerage company, Moreland Properties. Mitchell says while both companies are good, they offer different expertise, and a decision was made to go with a larger group that could reach a wider audience.

Asked why he believes the rumors about the project's health have persisted, Mitchell says he believes it's the competition. There are more than 2,000 condo units under construction across Central Austin with another 2,000 or so planned in projects that have yet to break ground.

"In all my years in the real estate business, it's usually the competition that's the source of rumors," Mitchell says.

When it's completed in spring 2010, The Austonian will be the tallest skyscraper in Austin, roughly 170 feet taller than Frost Bank Tower.

Benchmark Development, the Austin-based subsidiary of Grupo Villar Mir, is the developer of The Austonian. Ziegler Cooper Architects of Houston designed the project, and Balfour Beatty Construction is the contractor.

can I just say....DUH!

Hey man! I figured this would get your attention! So has the shape of the building shifted at all from the model in the sales center?

Back in BCS?

Strange. Isn't this now the second time they've felt the need to come out and dispel rumors about the project stopping?

Here is a different article on the same conference from The Statesman:

http://www.statesman.com/business/co...801condos.html

Austonian developers say continuing sales prove rumors wrong

By Shonda Novak
AMERICAN-STATESMAN STAFF
Friday, August 01, 2008

Hoping to end rumors that the Austonian condominiums project is in trouble, the developer said Thursday that construction won't stop until the $275 million, 56-story tower is completed in early 2010.

Rumors have circled that construction would halt when the first 10 floors — retail and parking levels — were completed. The developers held a press conference Thursday to mark the start of work on the 11th floor, where the first units will be.

"We are very pleased to put an end to the speculation and rumors by announcing that we have completed construction of the 10-story base and have begun construction of the residential tower. Sales have exceeded expectations, and this project is full steam ahead," said Terry Mitchell, strategic marketing director for the Austonian.

In the past four weeks, Mitchell said buyers have put down nonrefundable deposits of 10 percent on five units, representing about

$6 million in sales. Austin-based Benchmark Development won't disclose how many contracts have been signed to date. The 188 residences start at $559,000, rising to more than

$8 million for some of the penthouse units.

Benchmark's parent is Grupo Villar Mir, a Spanish industrial group with international activities.

Although some developers may be halting projects amid the economic downturn, Mitchell said, Grupo Villar Mir and Benchmark are taking "a very long-term view for Austin. They have tremendous confidence in the Austin economy over the long term."

Just googled it and found back on June 13th they also felt the need to dispel the same rumors. Here is the article from June 13th on the subject:

http://www.statesman.com/business/co...austininc.html

Don't believe rumor, insider says; the Austonian will rise as planned

Rumors are common in today's real estate market, but developers of the Austonian condominium tower downtown say one that's been floating around about their project is not true.

The buzz was that the developers would suspend construction once the parking garage was done and then assess market conditions before deciding whether to proceed on the $275 million project.

"The Austonian was designed to stand as a 56-story, sleek and elegant residential tower. There are not and will never be any plans to modify its height or to stop construction in order to assess the market," said Terry Mitchell, strategic market director for the Austonian. "We project the base podium (the first 10 floors) will be complete by early August, at which time construction on the tower will begin, with roughly one story completed per week."

The money behind the Austonian is Grupo Villar Mir, one of the biggest companies in Spain, whose subsidiary is Austin-based Benchmark Development.

Benchmark has been developing communities in Austin for almost 20 years, Mitchell said.

"GVM is known for its luxury developments around the world and is strongly committed to developing the Austonian as its U.S. centerpiece," he said.

The building has barely changed. Most notable changes are in the interior. The exterior for the most part has changed very little from the time that I started the internship in January to now.

and I AM back in BCS!

http://www.urbanaustin.org/images/th..._Rendering.jpg

SOURCE: Ziegler Cooper Architects & UrbanAustin.org

Hi Ya GB.... was looking at their site this week. It is interesting how different a rendering can look with various lighting effects!

A few shots from this Saturday (2/8/08).

http://img175.imageshack.us/img175/2...352edituo1.jpg

http://img107.imageshack.us/img107/9...353editje0.jpg

http://img107.imageshack.us/img107/8...355editdh9.jpg

Anyone see this on the austinist.com site?

http://austinist.com/2009/02/24/phot...nstruction.php

I love this picture of the Austonian. :) Can you say WOW?!

http://farm4.static.flickr.com/3323/...bc7ea04c_o.jpg

This building is kicking ass. The more it rises the more I am impressed by it. I would love to be able to live in one of the top levels...:slob:

It's now the tallest building in Austin.

I read somewhere it was the tallest residential building in Texas. Amazing to think that we have all these high rise condos in Austin and the more populated San Antonio has basically nothing in that department (though they do have high rise hotels).

I will never live there but I'm glad Central Texans have more choices in places to call home.

It will actually become the tallest all residential building west of the Mississippi. :P

Hell I wouldn't mind even living on a level in the teens! If I need my look out and beyond fix, I'd just head up to the fitness room on the 56th floor (good incentive to work out too ;) )

What if you lived in the crown? :???:

I'd be the highest person in Austin. http://i138.photobucket.com/albums/q...a/rastacq1.gif