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  #1901  
Old Posted Dec 14, 2006, 4:23 AM
MichaelB MichaelB is offline
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Good Luck Stooge...... my gut is it is not right for the area. Do you think if folks wait higt end development would eventually replace North Cross?

Just to promote discussion..... how would you feel if it was a new Target? Do you think the objection is to all big box or to Walmart?

It would be great to see that huge tract become mixed use ( I know that has been stated before on the forum) What retail would you like to see there?
     
     
  #1902  
Old Posted Dec 14, 2006, 8:14 PM
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I agree. My sister lives 4 blocks north of Northcross and is evidently one of the few who is excited to have a new grocery option so close to her house. Currently, she has to drive all the way to the Far West H-E-B to buy her groceries. Oh, don’t suggest that she go and shop at the small, dirty and fruit fly-infested Sun Harvest store (which is no longer a “locally-owned” store. It’s owned by Boulder-based Wild Oats Market – Whole Foods’ biggest competitor)! She’ll laugh and possibly slap you – if she’s in a good mood. Hee, hee. Just kidding…

I really believe it’s purely an issue with a 215,000 square foot, 24-hour “urban” Wal-Mart being proposed for Northcross - and not that Lincoln’s redevelopment of Northcross is going to add traffic to the area (which already sees and hears several NAFTA trains roll past the western border of the neighborhood).

So, as MichaelB has brought up for discussion; if you had the ability to suggest, to Lincoln Property Co., the type of re-development you would like to see constructed at Northcross, what would it be or look like? Let’s brainstorm…

I actually think a Wal-Mart is good for the area. Even though the neighborhoods nor the City of Austin have any legal right to stop the development of a Wal-Mart, it would be nice to see the following: Wal-Mart agrees to build the center under specific design agreements set forth from meetings with the neighborhood organizations (e.g., making sure that it will be an urban, “green” design with local materials used for the façades). Also, Wal-Mart agrees to limit their business hours from, let’s say, 10 a.m. to 10 p.m. (similar to a Target).
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Last edited by GoldenBoot; Dec 14, 2006 at 11:01 PM.
     
     
  #1903  
Old Posted Dec 15, 2006, 10:09 PM
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GOLDEN BOOT....I understand what you are saying.... I have never been a Walmart fan, but I am not sure about the leagal capacity to stop development. I do think the big "W" has gotten smarter with there varied approach, and that may be a sign that neighborhood pressure has worked. SO..... I agree that it is perfectly legit to ask the store to be respectful of an area..... limiting hours would be a simple way to start. Thinking more in terms of how little space can I use instead of how much space can I obstain... may be another in city know for it's "Green Building" incentive programs.

It does seem that they have reonsidered the economics of the area by the design of the store and the products. Ah, sh*T...... am I really trying to be economically PC for Walmart? Hell.... let them build out in the far burds! THey need to brand a new smaller store that is less of a land hog.... they have Sam's at the bottom rung. Keep the big box for the less "sensitive to the land" areas of th country..... North Carolina comes to mind. And find another way to market yourself to the urban centers! HEB has Central Market.....

As for the development as a whole.... Walmart is not the culprit! I think the neighborhood should be putting presure on the developer the same way the triangle was modled..... Then the Walmart becomes less of a dominate factor.... and certainly not the 24 hour magnet.... If there was presure to use the land better ( more "green" develppment) ... like, oh, lets say: mixed use residential.... then no one would ever consider a 24 hour Walmart!
     
     
  #1904  
Old Posted Dec 18, 2006, 7:45 PM
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St. David's is asking to build higher at 32nd Street in Central Austin. They want approval for 120 feet and they say that later they may want to build as high as 175 feet there.

From the Austin American-Statesman
http://www.statesman.com/news/content/news/stories/local/12/18/18stdavids.html

St. David's plans future growth for Medical Center campus
Hospital's plans to build higher along Red River concerns nearby homeowners

By Kate Miller Morton
AMERICAN-STATESMAN STAFF


Monday, December 18, 2006

In a dense, urban area fronting Interstate 35, St. David's Medical Center has little room to expand its 51-year-old campus on East 32nd Street any way but up.

This year, the hospital won city approval to put a 120-foot-high medical office building, nearly twice as high as its tallest building, on the southeastern portion of its 14-acre property.

Now, it is seeking approval for much greater height and density limits for the entire campus.

St. David's is asking the city to approve a long-term develop- ment plan that would grant the hospital permission to build as high as 175 feet along I-35 and as high as 90 feet along Red River Street. Current zoning restricts the hospital to 60 feet.

Filings with the city indicate that St. David's could add as much as 455,200 square feet to the 700,000-square-foot hospital by 2025, but the hospital does not say specifically what it will build, when it will build it or what type of services would be added.

If the plan is approved, the hospital would not have to go back and negotiate height and density with the city and surrounding neighborhoods each time it undertook an expansion project, as it has in the past.

"We wanted to establish a limit with regards to height, density and transportation needs that would take us forward for the next few years," said Malcolm Belisle, St. David's vice president of corporate services.

Belisle said St. David's wanted "everyone to agree that this is an overall master plan and get it approved so we don't have to do this over and over again."

The request has unsettled some residents of the nearby Hancock and Eastwoods neighborhoods who are already grappling with a developer's attempts to win city approval for buildings as high as 245 feet on the Concordia University campus at I-35 and 32nd.

There, a group led by Andy Sarwal is seeking to build 1,400 apartments and condos, 300,000 square feet of predominantly medical office space, and 400,000 square feet of retail shops on the 22-acre site. The development would begin after the Lutheran university completes a move to a new campus off RM 620 within two years.

Eastwoods Neighborhood Association President Dana Twombly said the neighborhood does not oppose the increased height limits proposed by St. David's along I-35. The neighborhood did not fight the variance granted by the Board of Adjustments in May that allows the hospital to build a medical office building up to 120 feet at the corner of 30th Street and I-35.

But the neighborhood is concerned about the 90-foot heights proposed for Red River near single-family homes as well as a proposed 125-foot tower in the middle of the campus.

The neighborhood wants the city to require a minimum setback of 130 feet, but St. David's has proposed putting the buildings as close to the street as its current facilities.

The open-ended nature of the plan is another concern.

Twombly said St. David's is trying to justify a nebulous agreement by arguing that it must meet the needs of the growing community but can't predict specifically what those needs will be.

"We understand that to a certain extent, but there are elements (of the plan) that they can agree to here and now (to create) a good, superior development," Twombly said, citing setbacks and financial contributions to nearby parks as examples.

The hospital's plan was recommended by the Planning Commission and passed by the City Council on first reading this month. It will probably go before the council again in January.

Council Member Lee Leffingwell said he would like to hear more details about the hospital's immediate needs and plans but understands that it wants to plan long term and be assured that the site can meet all of its needs before investing more in the medical center.

He said he would also like to see the organization do more to address neighborhood concerns about heights along Red River.

"I'd like to see if we can work something out — hold it at a 60-feet height maximum until 50 feet back from the road and then step up to 90 feet gradually so you don't get that canyon effect and huge massing of buildings right on the street," Leffingwell said.

Approving greater heights closer to I-35 would not be a problem for him, he said.

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  #1905  
Old Posted Dec 20, 2006, 6:50 PM
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11-Story Embassy Suites Hotel and Conference Center project is pushing forward in San Marcos, between Austin and San Antonio. The complex will be located about a mile north of the popular outlet malls at Exit 200

This is from news8austin.com
http://www.news8austin.com/content/top_stories/default.asp?ArID=176716
Video: http://www.news8austin.com/shared/video/video_pop.asp?destlist=40588

San Marcos hotel, conference center one step closer to reality

12/19/2006 6:46 PM
By: Veronica Castelo




A luxury 11-story hotel with 250 rooms and a 75,000 square-foot conference center near the outlet malls in San Marcos has been in the works for nearly three years.


Mayor Susan Narvaiz said the meeting space is in demand."There's no other full service hotel between San Antonio and
Austin with this kind of meeting space. It's needed not only in our community for our daily demands but for the people desiring to meet in the center," Narvaiz said.


The city chose to work with Missouri-based hotelier John Q. Hammons. Up to this point, city manager Dan O'Leary said Hammons has been cautious to move forward."He's been noncommittal up to this point. He waits. He doesn't take a step until he's sure he wants to take the next step. It's been frustrating for us because we always like to move a little quicker," O'Leary said.


Hammons finally sealed the deal last week but the council had to promise to forgive a $1.5 million loan for the land. Narvaiz said she and the other members of the council unanimously approved the deal in exchange for a groundbreaking on or before March 12.

"He's serious about us but this is true to the style we have learned he has done with many cities. It's not different for San
Marcos," Narvaiz said.


Some cities across the country have given up on the cautious hotelier, but O'Leary said San Marcos will not be one of them.
"This is the best deal that we've seen out there on this kind of project. Secondly, we know what kind of product he produces in the end. We've looked at many of his conference center hotels. They are all very nice and very first class. Those are the two reasons we have stuck this out," O'Leary said. The project will cost the city about $22 million. Hammons will operate the conference center and hotel and pay 30 percent of the debt. O'Leary, Narvaiz and Castoldi are all confident the completed project will prove good things really do come to those who
wait.
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  #1906  
Old Posted Dec 20, 2006, 7:34 PM
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News8austin has a year-end review of Downtown Development in 2006. Some of the info seems a bit dated. Here is the article and Video:

Article: http://www.news8austin.com/content/top_stories/default.asp?ArID=176672

Video: http://www.news8austin.com/shared/video/video_pop.asp?destlist=40579


Year's Best: Downtown development
12/19/2006 5:00 AM
By: Reagan Hackleman

For 20 years, Harold Scherz has lived just south of downtown near Town Lake. Besides a tree or two, he has an unobstructed view of the entire downtown skyline. It's a pretty good view. It's getting filled up there in the city," Scherz said. The view has gone through some changes over the years. Most recently, the Mexican American Cultural Center is under construction near his house.

But Scherz said he hasn't seen any major changes since the mid-80s. And they say history repeats itself."The skyline, in fact, will be quite different in just a few years," said Austin Mayor Will Wynn.
Wynn is happy to see downtown finally live up to its potential.

"We want our downtown, like all downtowns, to be sort of the living room of your community. You want it to be safe, clean and welcoming to visitors and have a nice skyline. Austin is quickly doing that and we should be proud of that," Wynn said.

So what will the Austin skyline look like in five years?

Three buildings are already under construction:
  • Monarch with 29 floors located at West Avenue and West Third Street with a completion date of fall 2007.
  • 101 Colorado with 36 floors located at Colorado and First Street with completion set for fall 2008.
  • 360 with 44 floors located at Nueces and West Third Street to be completed by fall 2008.
The other three projects are in the final planning stages and
construction will start soon:
  • Spring Condominiums with 36 floors at West Third and Bowie streets. It's set to be started next February.
  • 5th & Congress planned to top out as Austin's new tallest building with 47 floors at the corner of East Fifth Street and Congress. Construction is set to begin next spring.
  • Marriott Hotel complex with 26 floors located at East Second Street and Congress. Plans have yet to be filed with the city and project comes with a bit of controversy because it would require the relocation of Las Manitas.
Development is seen in the number of cranes over the downtown skyline. About 3,800 condominium units are under construction, which means about 5,000 more people in the next few years. Roughly 5,300 people live in the downtown Austin area now. By 2015, 25,000 people are expected to move in.

There are also a number of hotel projects under development. The largest, a $185 million complex on Congress Avenue, will add 1,100 rooms and 600 jobs.
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  #1907  
Old Posted Dec 21, 2006, 4:15 PM
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The old Wellesley Inn Hotel on the south shore of Town Lake (NE corner of Riverside Drive and I-35) is about to undergo demolition, making way for a new condo tower complex. The tallest building will top out at around 110' This is long in the making....

http://www.statesman.com/business/content/business/stories/realestate/12/21/21riverside.html


REAL ESTATE
Goodbye inn; hello $1 million condo

Demolition to begin, making way for $70 million condo development on East Riverside.




By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, December 21, 2006

Within a few weeks, demolition is scheduled to begin on the Wellesley Inn & Suites to make way for a $70 million development where the first condominiums will cost from $700,000 to $1 million.
The 254-unit luxury condo project along East Riverside Drive is also expected to expedite a long-awaited extension of the Town Lake hike-and-bike trail.

The developer, Constellation Property Group, plans to donate all furniture and fixtures in the 115-room inn to the SafePlace domestic violence shelter and Habitat for Humanity. Demolition is scheduled to start in late January.

Constellation received approval earlier this year from the City of Austin for its Star Riverside project, slated for four acres at the northeast corner of East Riverside Drive and Interstate 35 along Town Lake's southern shore.
The project is part of a residential building boom of apartments and condominiums in and around downtown, a trend fueled by buyers as diverse as young professionals and empty nesters seeking an urban lifestyle.

The stretch of East Riverside Drive between I-35 and Lakeshore Boulevard is attracting keen interest because of its proximity to downtown and Town Lake and its lower land prices. Some developers are converting apartment projects into condominiums, while others are planning projects that would add thousands of residential units.

Constellation's project will have four buildings, the tallest of which will be 110 feet, or 11 stories, said Chris White, a senior associate with Constellation, an Australian firm with U.S. headquarters in San Diego.
Constellation's earlier plans to build as high as 200 feet drew opposition from some neighborhood groups.

The tallest building will be the one nearest the interstate. A 90-foot building will be closest to Riverside on the southeast side. Two 60-foot buildings will replace the motel. There also will be a three-level underground parking garage for 400 cars.

Construction is expected to start in mid-2007 on the first phase — two 60-foot buildings with 68 units. Most of those units will have three bedrooms and average 1,500 square feet, with prices from $700,000 to $1 million. The first residents would arrive in mid-2008, White said.

Work on the second phase, the 90-foot building, is expected to start in mid-2008, with the final phase starting a year later. Pricing has not been set for those condos, which would have one and two bedrooms.
Constellation says it will grant an easement to the city to extend the hike-and-bike trail, which advocates eventually would like to see linked with the trail at Lakeshore Boulevard.

The company also says it will donate $250,000 toward a boardwalk or pontoon bridge on the river beneath I-35. This would close a gap in the hike-and-bike trail that now forces runners to cross a busy intersection. The multimillion-dollar boardwalk project, which could be a few years away, would connect the trail from the east with parkland west of the interstate.

"Closing the Riverside gap will make the trail a lot more useful and will help the entire trail system handle the increased use from the residential developments that are happening downtown and along the trail," said Griffin Davis, chairman of the Town Lake Trail Foundation, which has been working with Constellation.

If other developers along Riverside Drive and Lakeshore Boulevard follow Constellation's lead, "it will create an outstanding east-west pedestrian hike-and-bike corridor into downtown, finally tearing down the physical and symbolic barrier I-35 creates between east and west Austin," said Dan Garrison, a foundation member.

To address neighbors' concerns about adding traffic to an already heavily traveled intersection, White said the entrance and exit to the condos will be from a side street, Manlove St.

Further east, near Riverside and Lakeshore and south of Town Lake, Cypress Real Estate Advisors Inc. plans to build a $400 million to $500 million development with townhomes, condos and apartments. Austin-based Cypress hopes to start construction in late 2007, adding about 2,500 residential units over eight years, said Steve Clark, a Cypress partner. The developer plans to have buildings of varying heights, including two of up to 12 stories.

Prices for the condos and townhomes would start in the low $200,000s, and rents would start at about $1,100 a month.
Clark said the less expensive land will enable Cypress to build a project with more moderately priced units than downtown, where he said condos typically start in the low $400,000s.
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  #1908  
Old Posted Dec 21, 2006, 6:13 PM
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Manlove Street...there's a photo op.


Good to see this moving along, albeit shorter.
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  #1909  
Old Posted Dec 21, 2006, 6:24 PM
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Quote:
Originally Posted by KevinFromTexas View Post


Manlove Street...there's a photo op.


Good to see this moving along, albeit shorter.
Even at 90-110 feet, I think the two tallest buildings will really stand out, front and center, as you approach the curve at Riverside on I-35 (starting at Oltorf). Are there any renderings floating around?
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  #1910  
Old Posted Dec 21, 2006, 6:27 PM
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Quote:
Originally Posted by Mopacs View Post
Are there any renderings floating around?
I see there is a 'teaser' image on Constellation Property Group's website:

http://www.constellationproperty.com/website/?page=soon



"Star Riverside - Austin, Texas

Star Riverside is an elite opportunity to own the finest residence at the best address in Downtown Austin – Town Lake.
An iconic design by leading international architects Marchese and Partners, Star Riverside offers space, functional modern architecture and integration with the environment.

The use of glass and louvers add exterior interest – delivering exactly the right amount of air, light and privacy.
With its use of the best materials and its capacity to adjust to individual needs and desires, it is a prestige residential environment that functions beautifully on the edge of the lake, and in close proximity to the best that vibrant Downtown Austin has to offer."
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  #1911  
Old Posted Dec 24, 2006, 11:18 PM
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I'm looking forward to the Star Riverside project. Hopefully it's just the beginning of what will be a massive redevelopment of the whole Riverside corridor.
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  #1912  
Old Posted Dec 28, 2006, 2:12 PM
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triangle master plan?

I was curious as to where I could find the master plan for the triangle (not outdated, as on the city website). They are still building out there, and they have a lot more room, but I can't find anything about what's going up out there. Emporis lists a 'triangle tower' .. and it seems like I've seen a rendering for that midrise (maybe 10 floors?). Does anyone know?

On the subject of the triangle, I guess they're having a hard time getting retail/restaurant tenants. I know I wouldn't consider moving out there, but I suppose it's doing well since they're moving ahead with construction (of what, I don't know, haha). I know they talked about having a Randall's there. I wonder if there is a grocer still planned. I'm glad to see flipnotics putting a second location there.
     
     
  #1913  
Old Posted Dec 28, 2006, 3:20 PM
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So was the Bridges on the Park mentioned in this thread? Too large of a thread to search.
     
     
  #1914  
Old Posted Dec 29, 2006, 8:04 AM
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Quote:
Originally Posted by WesternGulf View Post
So was the Bridges on the Park mentioned in this thread? Too large of a thread to search.
Here's what I dug up.

Here is the building's website. They've actually updated it since I last checked.
http://bridgesonthepark.com/

Construction photos, really just the crane from certain angles.
http://forum.skyscraperpage.com/showthread.php?p=2338246&highlight=Bridges+Park#post2338246

Some here also, these are a bit closer.
http://forum.skyscraperpage.com/showthread.php?p=2315016&highlight=Bridges+Park#post2315016

There's also a thread on it at my forum, the Austin Skyscraper Forum. It has a small article piece, plus the rendering.
http://austinforum.8.forumer.com/viewtopic.php?t=129


This building is supposed to have 6 floors. I believe it'll be around 75 feet tall or so.
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  #1915  
Old Posted Dec 29, 2006, 6:26 PM
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Quote:
Originally Posted by urban_J View Post
I was curious as to where I could find the master plan for the triangle (not outdated, as on the city website). They are still building out there, and they have a lot more room, but I can't find anything about what's going up out there. Emporis lists a 'triangle tower' .. and it seems like I've seen a rendering for that midrise (maybe 10 floors?). Does anyone know?

On the subject of the triangle, I guess they're having a hard time getting retail/restaurant tenants. I know I wouldn't consider moving out there, but I suppose it's doing well since they're moving ahead with construction (of what, I don't know, haha). I know they talked about having a Randall's there. I wonder if there is a grocer still planned. I'm glad to see flipnotics putting a second location there.
I work across the street from The Triangle, and it seems to be doing very well. Right now there are only a small handful of retail tenants open (most notably the popular Mandola's restaurant, along with a T-mobile store and a cleaners). But I understand there are many more to come. The next phase of the project is now under cosntruction, which is largely retail, on the Lamar side of the tract. From what I've seen, leases are either in place or in negotiations with the following establishments:

Current Phase:

-Mandola's Italian Restaurant (open)
-T-Mobile (open)
-Mesa Cleaners (open)
-Flipnotics Cafe
-Which Wich

New Phase (under construction):

-Office Max
-Chase Bank
-Mama Fu's
-Tino's Greek Cafe
-Yumei Sushi
-Galaxy Cafe
-Flying Saucer Draught Emporium
-Fish City Grill
-Speciality Liquor

Here's the retail site plan from Cencor Urban's website:



Most of the original tenants anounced (years back) are no longer part of the project, including Barnes and Noble and Randall's. As for the 10-story tower, there is still room for additional construction near the southern end of the project, next to the interior park... It is the only section of the project not built or currently u/c. You can spot the building immediately to the left of the Pond on this site plan (from TriangleAustin.com...which is a bit dated, as far as the retail layout goes):



Here are some renderings that were released some years ago. The designs have changed, but current site plans still seem to indicate a place for a tall residential tower in the center of this pic:







Recent aerial from Simmons Vedder. The second phase is now well-underway at the top of this photo, along Lamar Blvd):



Here are some pics I took earlier this year:







View from the Parking Garage



More info
http://www.triangleaustin.com/
http://www.cencorrealty.com/search/view.asp?PrimaryKeyID=304
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Last edited by Mopacs; Dec 29, 2006 at 6:41 PM. Reason: Added new photos/renderings
     
     
  #1916  
Old Posted Dec 29, 2006, 10:28 PM
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Thanks for posting this information, Mopacs. I live just a few blocks away from the Triangle and am very excited for phase two to be completed, not only because it will enhance the area, but because of all the great restaurant choices it is bringing. I like this project a lot.
     
     
  #1917  
Old Posted Dec 30, 2006, 8:59 AM
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re:re:triangle

Wow, cool info! Thank you for the extensive reply, mopacs. Those photos reminded me of the brick paver drives thru the project, which impressed me the first time I saw them. I think we ended up with some tasteful plug-in design (and much better than those earlier renderings, I must say!). A friend of mine and I were discussing one time what is going to happen to the state hospital just to the west. I supposed that eventually it would be relocated (perhaps to a more serene environment?) to make way for denser infill. Oh well, only time will tell (and most likely a LONG time at that... I can't imagine anything being changed with that situation for a great while.. and anyway I kind of like the adjacency of 1000/month renters and mental patients ).
     
     
  #1918  
Old Posted Dec 30, 2006, 9:33 AM
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There's a blurb about T. Stacy's tower in this article near the end. I do wish they'd hurry up and build our new tallest.

From the Austin American-Statesman
http://www.statesman.com/business/content/business/stories/realestate/12/29/29congress.html

REAL ESTATE
Downtown office high-rise sold
Purchase by Denver firm, made with help of a local developer, is the latest in a series of downtown sales.

By Shonda Novak
AMERICAN-STATESMAN STAFF


Friday, December 29, 2006

A 35-year-old office building on Congress Avenue in downtown Austin will get a makeover after being acquired Thursday by a Denver-based real estate private equity firm.

Amstar Group LLC teamed up on the purchase of 823 Congress Ave. with local developer Tom Stacy, who in 1994 led the investment partnership that bought the 16-story building at the southeast corner of Ninth Street and Congress Avenue. Amstar and Stacy did not disclose the purchase price.

Stacy, president of T. Stacy & Associates, is managing partner of the new ownership group, which plans to spend more than $2.5 million next year to spruce up the dark bronze building inside and out, including a fresh coat of paint that will make it look like a new building, he said.

The improvements, including enhancements to its common areas, parking facilities and tenant spaces, will make the building more attractive to existing and new tenants as Austin's office market continues its upswing after several years in the dumps during the tech bust. Stacy's company will manage and lease the building, with a goal of bumping its occupancy rate, currently at 80 percent, to 95 percent over the next year, Stacy said.

The building is home to several high-profile tenants, including the Austin Museum of Art, the lobbying firm Hillco Partners and former Austin Mayor Bruce Todd's consulting firm.

With office occupancies and rents continuing to strengthen downtown, "it was a great time to sell to someone that wanted to stay with the building longer" and improve its image and operations to help it reach its potential, Stacy said.

The improvements, Stacy said, will make the second-tier building competitive with first-class office buildings downtown.

The location of the 181,381-square-foot building, two blocks south of the Capitol and two blocks north Sixth Street, piqued Amstar's interest.

"The current market fundamentals suggest Austin's office market is improving rapidly," Amstar Executive Director Doug Wiley said in a statement. "Net absorption is strong, rent growth is accelerating, new supply is not a significant threat and the economy is growing."

Amstar's acquisition follows several high-profile downtown office-building purchases in the past 14 months, fueled by the continued strengthening of Austin's office market.

In August, Chicago-based Equity Office Properties Trust snagged Austin's tallest building, Frost Bank Tower on Congress Avenue. The $188 million purchase price worked out to $354 a square foot, a state record.

The previous record was set in October 2005 when Equity bought 300 West Sixth, at Sixth and Lavaca streets, for $131.7 million, or $295 a square foot.

In June, California-based Triple Net Properties LLC bought the Chase Bank Tower in downtown Austin with local partner Endeavor Real Estate Group for an estimated $68 million.

Also earlier this year, Michigan-based Pomeroy Investment Corp. paid $24.4 million for 14-story One Commodore at 800 Brazos St. and the 20-story Capitol Tower, formerly Two Commodore, at 206 E. Ninth St. Pomeroy said it would spend more than $20 million on floor-to-ceiling makeovers for the downtown office buildings, including converting One Commodore into a mixed-use tower with about 80 condominiums, plus shops and offices.

Amstar doesn't own any other office buildings in Austin but has other holdings in Central Texas. Those include 190 acres near Marble Falls for a mixed-use development and 37 acres on RM 620 just north of Texas 71 and RM 2244 (Bee Cave Road) for a residential development.

With a portfolio that includes office, industrial, apartment, retail and hospitality holdings in major markets across the U.S., Amstar also is pursuing additional opportunities in the Austin area, although nothing has been placed under contract.

And Amstar said it is "looking forward to doing more deals in Austin" with Stacy, whose other projects include plans for a 47-story high-rise at Fifth Street and Congress Avenue to be designed by Pelli Clarke Pelli, an internationally known architectural firm. It would be built next to Stacy's Bank of America building, replacing the current annex.

The building is planned to have condominiums, shops, offices and possibly a hotel. There is no timetable for breaking ground, Stacy said.


Here's a picture I took of it early last year from the One American Center.
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  #1919  
Old Posted Jan 2, 2007, 6:06 PM
StoOgE StoOgE is offline
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the triangle is a really cool development that fits the area well (I think its an extension of the 38th and Lamar area North). I dont live too far from it (Hancock and Shoal Creek) and can cut over there pretty easily on a back road. Im really looking forward to some of those new eateries as well. I'd imagine its a nice place to live once all of this is finished.

By the way, if you want to know what I would like Northcross to become.. look at the triangle. I just dont want a 24 hour big box retailer. Not going to happen, but oh well.
     
     
  #1920  
Old Posted Jan 7, 2007, 8:59 AM
LiveattheOasis LiveattheOasis is offline
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Does anyone have any pics 360, AMLI or the Monarch up to date? I have been in Dallas the past three weeks and am sorely missing the continued rise of these buildings.
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