[KevinFromTexas]

https://www.austinmonitor.com/storie...urthouse-site/

County prepares to strike lucrative deal for failed courthouse site

Tuesday, July 11, 2017 by Caleb Pritchard

Instead of a new civil courthouse, how about a massive, privately financed mixed-use development that will pour millions of dollars into public coffers?

The Travis County Commissioners Court will vote today to approve a deal with two firms – Lincoln Property Company and Phoenix Property Company – that will give them a 99-year ground lease on the land.

The Lincoln-Phoenix proposal envisions a titanic mix of office, residential, retail and parking. Per the county’s stipulations, the developer must adhere to stringent construction worker protections that align with the city of Austin’s Better Builder Program, a set of conditions endorsed by the Workers Defense Project. The firms will also ensure that 10 percent of all housing on the site is reserved for “low-to-moderate-income residents, based on the city’s Density Bonus Program,” according to a county press release. Furthermore, Lincoln-Phoenix will make a “major donation” to the Austin Parks Foundation to support the restoration of Republic Square Park just to the property’s north. The amount of that donation has not yet been revealed.

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http://www.statesman.com/news/local/...xL2l9r6kwdEiM/

Travis County strikes deal with developers over failed courthouse site

Taylor Goldenstein
5:00 p.m Tuesday, July 11, 2017

Travis County officials announced a deal Tuesday with a pair of developers who will build on the vacant county-owned block at 308 Guadalupe Street where officials originally hoped to build a new civil courthouse.

The lease with Lincoln Property Company and Phoenix Property Company, which plan to build a mixed-use project on the site, will bring Travis County nearly $430 million in lease payments over the next 99 years. Officials started looking for developers to buy or lease the site last year, after voters in 2015 rejected a bond proposition to build a courthouse on that site.

Travis County will receive an initial $13.4 million payment at closing on Wednesday. That money and the future revenue from the site will help officials pay for a new civil courthouse elsewhere, officials said.

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These are the only renderings we've seen so far, but it's believed this isn't the current plan since the county only just now selected a developer.


https://www.stgdesign.com/308-guadalupe


https://www.stgdesign.com/308-guadalupe


https://www.stgdesign.com/308-guadalupe