AUSTIN | Project Updates Thread Part II

[Urbannizer]

The Belvedere Phase I

[Urbannizer]

Bankruptcy case dismissed over land that holds the downtown IHOP

The bankruptcy case of the World Class Holdings entity that owns downtown Austin’s IHOP restaurant has been dismissed, possibly opening up a pathway back to foreclosure of the property that could one day hold a big skyscraper. World Class CEO Nate Paul says he's eager to make debt payments — but lenders aren't taking them.

The IHOP still has a few more years on its lease — perhaps perfect timing for a developer to take it to new heights when the real estate sector improves.

[ROCrot]

Originally Posted by Urbannizer

"World Class CEO Nate Paul says he's eager to make debt payments"

Okay, then... Mr. Crooked Pants says he wants to pay what he owes in order to regain control of the land... but then what? He hasn't developed squat.

When he has still a rising star on the local real estate scene... namely prior to being busted and all his shenanigans became public, he had been acquiring properties left and right and claiming to have a "buy and hold strategy."

Welp, he held onto the properties through the runup in values, including during the pandemic, but neither developed anything (and charge top dollar for rents) nor sell at the market high... a.k.a. "buy low, sell high."

Instead, he just formed a series of shell companies to obfuscate the true financial condition of "World Class Holdings," among other reasons, and the only thing he seemed to ever build was a house of cards.

[The ATX]

Originally Posted by ROCrot

Okay, then... Mr. Crooked Pants says he wants to pay what he owes in order to regain control of the land... but then what? He hasn't developed squat.

When he has still a rising star on the local real estate scene... namely prior to being busted and all his shenanigans became public, he had been acquiring properties left and right and claiming to have a "buy and hold strategy."

Welp, he held onto the properties through the runup in values, including during the pandemic, but neither developed anything (and charge top dollar for rents) nor sell at the market high... a.k.a. "buy low, sell high."

Instead, he just formed a series of shell companies to obfuscate the true financial condition of "World Class Holdings," among other reasons, and the only thing he seemed to ever build was a house of cards.

That sums it up pretty well.

[Urbannizer]

Tru By Hilton

[foreverrushing31]

I still just can't believe that damn empty wall on the Guad side. Insane.

[Urbannizer]

Palace Laundry

Structure finally up. Now opening sometime this year.

[ROCrot]

Originally Posted by Urbannizer

Palace Laundry

Structure finally up. Now opening sometime this year.

I've already imagined gillynova's vid on Insta from his visit after it opens.

[Urbannizer]

6th&Blanco

[randalls]

Nice to see this one coming along. This block has had non-stop construction for a few years with everything that went up across the street as well. Can't wait for the street to be free and clear when this one is done.

[Urbannizer]

Some shots today from ground level

[Urbannizer]

UMLAUF’s vision plan reimagines one of Austin’s quietest cultural gems

ustinites may know the UMLAUF Sculpture Garden + Museum as a tucked-away space near Zilker Park—lush, serene, and steeped in artistic legacy. But few realize they’re only seeing a third of the whole story. A bold new vision aims to change that.

With the ambitious Historic Preservation, Expansion, and Unification (HPEU) Plan now finished, the UMLAUF aims for a future that combines art, accessibility, and ecology. Led by the design firm Page, now Stantec, the project consolidates decades of dreams into a single cohesive master plan and will seek the public’s help to turn it into reality.

[ahealy]

Originally Posted by Urbannizer

UMLAUF’s vision plan reimagines one of Austin’s quietest cultural gems

This is a welcome change considering the current set up of UMLAUF is a total disappointment. I did volunteer work there several times and can't tell you one sculpture I recall. Seemed just like an urban garden/wedding venue.

They should take note from the McNay in SA.

[Urbannizer]

809 Congress Ave

Full demo planned for redevelopment.

https://www.bizjournals.com/austin/news/...bgyn5nVEcNvXw_aem_AI-xP-Nmhn7__CFMk5WhGg

[Urbannizer]

Mexic-Arte scores Downtown lifeline at Austin History Center

With its Congress Avenue building headed for demolition, the Mexic‑Arte museum just landed a crucial downtown lifeline. On thursday, austin city leaders signed off on a temporary relocation plan that will move the museum into the austin history center while its longtime home is torn down and rebuilt.

The deal keeps mexic‑arte in the downtown mix and is designed to let the nonprofit keep rolling out exhibitions, classes, and community programs while construction is underway. City documents say the move is meant to safeguard the collection and preserve the museum’s spanish‑language and community programming during the renovation.

As outlined by the city of austin, the council approved a 36‑month lease with an optional 12‑month extension for roughly 12,072 rentable square feet at the austin history center at an annual lease rate of $100. Under the agreement, mexic‑arte will not pay operating expenses, but it will cover janitorial and security costs for after‑hours events and follow the austin public library’s fee schedule. The lease also requires yearly reporting on exhibitions, tours, and educational programming while the downtown site is being reconstructed.

[foreverrushing31]

Is the 419 Congress demo part of the same project as the museum redevelopment James from Towers reported on two years ago?

[Urbannizer]

Yep it's the same project. Towers had renderings of the building but the design has changed a bit since then.

https://www.exigoarch.com/cultural-center-1-1-1-1-1-1-1-2

[The ATX]

Cool. I still liked that old hamster wheel design more.

[Riverranchdrone]

Originally Posted by Urbannizer

Yep it's the same project. Towers had renderings of the building but the design has changed a bit since then.

https://www.exigoarch.com/cultural-center-1-1-1-1-1-1-1-2

That is like the only good art museum on Congress.

[ahealy]

Originally Posted by Riverranchdrone

That is like the only good art museum on Congress.

Well, aside from The Contemporary (which is more of a gallery / venue), it's the only thing close to a museum on Congress.