Future of Solaris Apartments, 1516 Burton? Best views of Downtown in Austin.

[mumu]

Solaris is 43 buildings on a 20 acre hill just off Riverside that has probably the most run down, crime infested apartment complex in the city. It's mostly affordable, tax-credit housing, but I've heard it has an expiration, but I don't know when.

At the same time, this hill has the best views of Downtown I've ever seen, from ground level. West Lake areas have nice views but they're farther out, 3-4 miles versus 1-2 miles from Solaris.

If it weren't for the tax credit that presumably ties up the property I'd think this site would be redeveloped with dozens of staggered 4-6 story type buildings up the hill its on. It's less than half a mile from the Oracle complex under construction as well.

Does anyone know more about this location and its future?