AUSTIN | Waterline | 1,034 Feet | 73 Floors | T/O - Page 13

GoldenBoot · #1 Posted **Feb 11, 2015, 10:29 PM**

Quote:

Originally Posted by austlar1

Good news, but I wish they would provide a timeline or firm start date for their project.

Maybe they couldn't due to the change in the scale of the project and the negotiation process in securing the new tracts of land (I believe the "new" site is comprised of at least one or two tracts of land)?!?

Maybe, now that they have the land, they can focus on how the project will be designed and evolve?!? Thus, being able to provide a timeframe to the general public in the near future?!? With new renderings?!?

The fact that there is potential of a larger project should be taken as a positive sign.

austlar1 · #2 Posted **Feb 12, 2015, 3:20 AM**

Quote:

Originally Posted by GoldenBoot

Maybe they couldn't due to the change in the scale of the project and the negotiation process in securing the new tracts of land (I believe the "new" site is comprised of at least one or two tracts of land)?!?

Maybe, now that they have the land, they can focus on how the project will be designed and evolve?!? Thus, being able to provide a timeframe to the general public in the near future?!? With new renderings?!?

The fact that there is potential of a larger project should be taken as a positive sign.

Wow, GoldenBoot, we seem to have switched positions with regards to certain aspects of this project. I remember when it was first announced that you had very strong doubts about McCourt and his sincerity regarding this project. I was the one who came on like gangbusters with glowing reports about McCourt's vast wealth and his even wealthier Guggenheim partners. My take was that they could get this built if they wanted to build it. Now I am of the opinion that they are waiting to see what develops in terms of demand for office space, hotel rooms, and high end condos after the current wave of building subsides. The purchase of the additional land is a very safe long term investment. Since the property could probably be resold easily it could even be considered a fairly liquid investment. I will be surprised to see anything start here in 2015 or even in 2016. I sincerely hope I am wrong.

Tech House · #3 Posted **Feb 12, 2015, 4:09 AM**

Quote:

Originally Posted by austlar1

I will be surprised to see anything start here in 2015 or even in 2016. I sincerely hope I am wrong.

The mg.com website hasn't backed off their original intention to start construction by the end of 2014: http://www.mg.com/our-work/

Who knows what's going on. Fifth and West seemed to come out of nowhere, maybe this one is making progress behind the scenes and we'll be pleasantly surprised as we were with the Fairmont, after a long period of hearing nothing.

However, I was a bit discouraged by one thing as I reviewed the McCourt website: all of their projects are proposed, they don't have anything in their portfolio other than vacant lots, concepts, and a lot of generic gloss.

Still, it's nice to see their mission statement about building high-profile projects in global gateway cities, with Austin being included alongside NY, Miami, and LA. And the slideshow on their homepage http://www.mg.com/ places Austin in some very elite company. Our skyline is quaint by comparison with the other 3 (which are...? Doha? Shanghai? and...?), but there's something very distinctive and appealing about it. No doubt the capitol view corridors contribute to the sense of spaciousness which helps to feature each building, and there is a lot of variety for such a small number of buildings. Waller Park Place will contribute very nicely to that variety, and to broadening the span of the skyline.

austlar1 · #4 Posted **Feb 12, 2015, 6:09 AM**

Quote:

Originally Posted by Tech House

The mg.com website hasn't backed off their original intention to start construction by the end of 2014: http://www.mg.com/our-work/

Who knows what's going on. Fifth and West seemed to come out of nowhere, maybe this one is making progress behind the scenes and we'll be pleasantly surprised as we were with the Fairmont, after a long period of hearing nothing.

However, I was a bit discouraged by one thing as I reviewed the McCourt website: all of their projects are proposed, they don't have anything in their portfolio other than vacant lots, concepts, and a lot of generic gloss.

Still, it's nice to see their mission statement about building high-profile projects in global gateway cities, with Austin being included alongside NY, Miami, and LA. And the slideshow on their homepage http://www.mg.com/ places Austin in some very elite company. Our skyline is quaint by comparison with the other 3 (which are...? Doha? Shanghai? and...?), but there's something very distinctive and appealing about it. No doubt the capitol view corridors contribute to the sense of spaciousness which helps to feature each building, and there is a lot of variety for such a small number of buildings. Waller Park Place will contribute very nicely to that variety, and to broadening the span of the skyline.

360 Tenth Ave in NYC is supposedly "under construction", but I don't think much has happened yet at the site. McCourt and his partners are involved in developing 360 10th Ave in the Hudson Yards redevelopment district over the Penn Station rail yards in Manhattan. 360 Tenth will cost close to $3 billion, which seems almost unbelievable to me. He and his Guggenheim partners brought in the Hines Group as co-developers. I think that McCourt and partners may be pretty leveraged at this point unless they are using a lot of OPM (Other People's Money) to build this project. That could be one reason why they are slow to get started here in Austin. They have everything to gain by waiting a year or so.

http://therealdeal.com/blog/2014/09/...h-ave-project/

arodela1 · #5 Posted **Feb 23, 2015, 4:23 PM**

I love Austin and though I live in Indiana, I'm always amazed to see the Austin skyline. Its so beautiful. But I, too, don't think the Waller project will take off anytime soon, and if it does, I hope they don't shorten the height as they've done with so many other projects.

Spaceman · #6 Posted **Feb 23, 2015, 8:09 PM**

Quote:

Originally Posted by arodela1

i love austin and though i live in indiana, i'm always amazed to see the austin skyline. Its so beautiful. But i, too, don't think the waller project will take off anytime soon, and if it does, i hope they don't shorten the height as they've done with so many other projects.

bingo!!!

The ATX · #7 Posted **Mar 8, 2015, 1:08 PM**

This goes to the Planning Commission Tuesday.

http://www.austintexas.gov/edims/document.cfm?id=227084

Tech House · #8 Posted **Mar 8, 2015, 1:53 PM**

Quote:

Originally Posted by Hill Country

This goes to the Planning Commission Tuesday.

http://www.austintexas.gov/edims/document.cfm?id=227084

Looks promising, with staff recommending approval. What's the usual procedure from here, and is this a very meaningful step forward or does this not provide any sense of a likely timeline? I'm not familiar with the process here.

The ATX · #9 Posted **Mar 8, 2015, 11:39 PM**

I believe this is it, but I'm not 100% certain. The project does not need a zoning variance, so the City Council's approval isn't needed. Although the Planning Commission will approve this, the developer will still have more to do to satisfy all of the city building requirements prior to approval of the site plan.

corvairkeith · #10 Posted **Mar 12, 2015, 3:14 PM**

Looks like the old Chain Drive burned down last night.

http://www.statesman.com/news/news/l...n-austi/nkTSn/

jngreenlee · #11 Posted **Mar 12, 2015, 3:22 PM**

Quote:

Originally Posted by corvairkeith

Looks like the old Chain Drive burned down last night.

http://www.statesman.com/news/news/l...n-austi/nkTSn/

This was Sutton's plan all along...collecting the insurance claim on that building. Now the parcels get sold to T. Stacey for the next deal.

wwmiv · #12 Posted **Mar 12, 2015, 3:35 PM**

Quote:

Originally Posted by corvairkeith

Looks like the old Chain Drive burned down last night.

http://www.statesman.com/news/news/l...n-austi/nkTSn/

The new Chain Drive is much better anyway, so I'm not bummed.

austlar1 · #13 Posted **Mar 12, 2015, 6:44 PM**

Quote:

Originally Posted by corvairkeith

Looks like the old Chain Drive burned down last night.

http://www.statesman.com/news/news/l...n-austi/nkTSn/

Well, that means they have made a bit more progress in clearing the site. I guess construction must be right around the corner.

LoneStarMike · #14 Posted **Mar 12, 2015, 8:18 PM**

Quote:

Originally Posted by corvairkeith

Looks like the old Chain Drive burned down last night.

http://www.statesman.com/news/news/l...n-austi/nkTSn/

I don't think it was the old Chain Drive that burned down. It was the pedicab place next door. Other articles identified the building as being at 502 Willow Street. Chain Drive was at 504 Willow.