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New Projects
My apologies if this was posted or referred to earlier, but I came across this in the Austin Business Journal. I've heard that the bank tower portion of the project is moving quickly along, supposedly around 17 stories. The second tower may be 30+. Anyone have additional information on this?
Another downtown Austin building boom?
At least two office towers in the works; some doubt near-term financing
Austin Business Journal - by Jake Dirr ABJ Staff
At least two new office buildings are being planned for downtown Austin and would be among several buildings competing to land a 200-employee law firm. Signing a tenant like that would entice banks to finance such a project.
Austin-based Cypress Real Estate Advisors plans a 120,000-square-foot, six-story, Class A office building at 800 W. Sixth St., said David Cox, Cypress vice president of development.
Also, the stalled Ovation development, originally reported to be a 37-story condo tower on Block 51 by Atlanta-based Novare Group Inc. and Austin-based Andrews Urban LLC, is being revamped. It now involves a partnership with International Bank of Commerce and more office space than originally planned, Andrews Urban principal Taylor Andrews said in an e-mailed statement.
The plan revisions are in the beginning stages, and specifics will be available in mid-2010, he said.
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