AUSTIN | Southeast Austin/Riverside Corridor Updates - Page 12

Urbannizer · #**221** Posted **Jul 9, 2024, 5:03 AM**

Alexa Riverside Phase II

Slow progress

Jdawgboy · #**222** Posted **Jul 9, 2024, 5:58 PM**

That thing is a BEAST. We should have more higher floor residential buildings like that along Riverside.

mumu · #**223** Posted **Jul 10, 2024, 4:05 AM**

Quote:

Originally Posted by Jdawgboy

That thing is a BEAST. We should have more higher floor residential buildings like that along Riverside.

Given all the apartment vacancy they probably want to extend the build time in order to extend the construction loan period as long as possible, hoping for a 2026 recovery.

The interest rate on permanent financing, typically required once they start to lease, is likely at least double that of the construction loan.

Urbannizer · #**224** Posted **Aug 1, 2024, 5:11 AM**

Here's a rendering of the River Park project that hasn't been shared before. I take it was part of Phase I, but doubt it'll start anytime soon.

https://www.bogza.com/work/office-mixed-use

https://www.bogza.com/wp-content/upl...0-2-scaled.jpg