AUSTIN | Waterline (98 Red River) | 1,022 Feet | 73 Floors | U/C - Page 97

ILUVSAT · #**1921** Posted **Mar 31, 2022, 12:45 AM**

I guarantee y'all that this baby's going to cost well north of $520 million to construct.

The W and JW Marriott towers, years ago, cost $325-$375 million to construct (as a reference). And prices have certainly not come down since.

ArchGuy1 · #**1922** Posted **Apr 1, 2022, 4:24 AM**

Does anyone know if 98 Red River will have a public observation deck near the top. I think an observation deck would be a no brainer for this building, considering it's height and the fact that Austin is becoming a world class city. An observation deck here would become one of the most popular tourist attractions for Austin.

sewaneetigers · #**1923** Posted **Apr 1, 2022, 5:30 AM**

Quote:

Originally Posted by ILUVSAT

I guarantee y'all that this baby's going to cost well north of $520 million to construct.

The W and JW Marriott towers, years ago, cost $325-$375 million to construct (as a reference). And prices have certainly not come down since.

I bet it's somewhere around $600mm

StoOgE · #**1924** Posted **Apr 1, 2022, 4:27 PM**

Taking estimated construction cost from a filing is probably not the best way to get at the final cost of a project.

GoldenBoot · #**1925** Posted **Apr 1, 2022, 5:40 PM**

^^^Exactly.

It's going to be much higher than what was "estimated."

$192 PSF for constriction of a 1,022', 2.7MM SF building? One can barely build a SFR for that price.

I read somewhere that high-rise construction costs in this section of the country could run at least $600-$700 PSF. I'll try to find the source and post it.

Remember, most media reports of cost are only referring to the financed amount (which does not include the developers' equity - 20%-40% typically in high-rises).

ILUVSAT · #**1926** Posted **Apr 2, 2022, 3:59 PM**

I'm not sure you could buy a house in Austin for less the $225-$250 PSF.

sewaneetigers · #**1927** Posted **Apr 2, 2022, 6:04 PM**

Quote:

Originally Posted by ILUVSAT

I'm not sure you could buy a house in Austin for less the $225-$250 PSF.

Probably more around $315 PSF, on average.

ILUVSAT · #**1928** Posted **Apr 2, 2022, 9:40 PM**

Quote:

Originally Posted by sewaneetigers

Probably more around $315 PSF, on average.

Agreed (in certain specific neighborhoods). That is not a metro-wide average.

sewaneetigers · #**1929** Posted **Apr 3, 2022, 5:27 AM**

Quote:

Originally Posted by ILUVSAT

Agreed (in certain specific neighborhoods). That is not a metro-wide average.

I am using 1,500 SQF/house as my baseline which gets you $317/SQF in the metro and $390 in Austin. You're spot on if you use 2,000 SQF/house.

ahealy · #**1930** Posted **Apr 3, 2022, 6:59 PM**

So a couple months until we see actual rebar on site? Anyone have inside info on when this will actually start?

The ATX · #**1931** Posted **Apr 3, 2022, 7:57 PM**

Quote:

Originally Posted by ahealy

So a couple months until we see actual rebar on site? Anyone have inside info on when this will actually start?

Whenever there is no formal announcement about an official groundbreaking, the ROW closures for construction start are the best indicator. The dates on those permits are a moving target. But the latest start date as of last week was 05/14.

ahealy · #**1932** Posted **Apr 3, 2022, 8:02 PM**

Quote:

Originally Posted by The ATX

Whenever there is no formal announcement about an official groundbreaking, the ROW closures for construction start are the best indicator. The dates on those permits are a moving target. But the latest start date as of last week was 05/14.

Beautiful! Thank you

The ATX · #**1933** Posted **Apr 8, 2022, 10:21 PM**

The City added the link to the approved plans to the site plan. But the link is broken. This happens way too often, and it eventually gets fixed. Sometimes in a couple business days, sometime it takes a few weeks. But I'm pretty sure 1,022' is the final height.

Billy Cannon · #**1934** Posted **Apr 8, 2022, 10:48 PM**

Quote:

Originally Posted by ahealy

So a couple months until we see actual rebar on site? Anyone have inside info on when this will actually start?

Foundation work should begin end of this month, early next month

ahealy · #**1935** Posted **Apr 8, 2022, 11:01 PM**

Quote:

Originally Posted by The ATX

The City added the link to the approved plans to the site plan. But the link is broken. This happens way too often, and it eventually gets fixed. Sometimes in a couple business days, sometime it takes a few weeks. But I'm pretty sure 1,022' is the final height.

Ugh, of course....It better friggin stay at 1,022'.

Quote:

Originally Posted by Billy Cannon

Foundation work should begin end of this month, early next month

Thanks! Me coming here for updates on groundbreaking

agsatx88 · #**1936** Posted **Apr 10, 2022, 3:56 PM**

Looks like some utility work is going on at the parking lot where the construction offices are supposed to be staged. A concrete pad was poured and some large underground conduit installed. Not sure if it is related to this project since it would seem kind of strange for them to go with something this permanent/durable for temporary offices. Although, they will be there until at least 2027 so. Could also be an EV charging station.

H2O · #**1937** Posted **Apr 10, 2022, 7:27 PM**

It probably is a transformer pad for temporary construction power. That is sometimes needed when there are multiple trailers. Seaholm did the same on the Independent site when they used the property for construction trailers and staging.

HWellen · #**1938** Posted **Apr 13, 2022, 1:48 AM**

Anyone else see this promotional video?

https://www.reddit.com/r/Austin/comm...tm_name=iossmf

sjk · #**1939** Posted **Apr 13, 2022, 5:03 AM**

Quote:

Originally Posted by HWellen

Anyone else see this promotional video?

https://www.reddit.com/r/Austin/comm...tm_name=iossmf

Urbanizer posted it on the projects thread. Love it!

The ATX · #**1940** Posted **Apr 13, 2022, 3:28 PM**

Approved elevations were added to the site plan this morning. The building is still 1,022'.