Quote:
The two half-blocks along Fourth Street, between Brazos and Trinity streets, are selling for $104 million, said Mark Strub, a Realtor and owner at Railyard.
That means the 70,694-square-foot site is fetching a price of about $1,471 per square foot — likely an Austin record for a land sale.
Because the condos at Railyard are owned by different people, closing the deals will take a bit longer than if there was just a single seller. Owners began signing closing documents Oct. 25 and that will continue through Oct. 30, Strub said. The official closing won't occur and owners won't be paid until everyone has signed.
The Railyard Condominiums Owners’ Association approved the sale to Karlin in December 2018. Strub said the association hired CBRE Group Inc. after receiving in January 2018 an unsolicited offer from another company to buy the property.
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I love Karlin's renderings of the potential development on that site. I want to hope that both towers happen... that's just what Austin needs. More height in that part of the downtown, it'll help extend the skyline even more and will plug in a hole in the skyline near the convention center. The convention center is multiple blocks in size and a complete lowrise, so in skyline shots that area of downtown looks underdeveloped and short right now, kinda like a hole in the skyline.
But if they build to the potential that they've advertised then Austin will get a new tallest with the first tower, a supertall, not to mention the second tower's height being in the ballpark of the current two tallest buildings in Austin, which are the Independent and Austonian.