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Old Posted May 27, 2012, 5:56 PM
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WestAustinite WestAustinite is offline
Old West Austin
 
Join Date: Jan 2007
Location: Austin
Posts: 248
I give the tower portion of this project less than a 10% chance of ever seeing the light of day and that's being generous. What banker in their right mind would loan $145 million to build a 47 story residential tower outside the core of downtown? And to a non-profit with zero experience in development? Don't get me wrong, the museum portion seems fabulous and their press release says they have "identified" one third of the funding for the $95 million it would take to build that. Plus they are too late for the bond party. They should have announced this a year ago and try to build momentum for it with the public. One last thought. Do you really want a 47 story tower looming over the capital? It would really be out of place. Great architecture however, would to see it built in the heart of downtown.
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