AUSTIN | Projects & Construction II

[Kevinb]

The Spring website has been updated to include some information about the upcoming conversion process:

http://www.springaustin.com/conversion/

The conversion process begins on 3.24.07

[Jdawgboy]

The Domain is very impressive, I love it to death. And does anybody know the size of the Macy's there because that place is HUGE I don't think any of the other macy's in Austin is that big.

[GoldenBoot]

Originally Posted by Kevinb

The Spring website has been updated to include some information about the upcoming conversion process:

http://www.springaustin.com/conversion/

The conversion process begins on 3.24.07

FYI:

According to the architectural drawings, Spring will be 431.67' from grade to roofline and 394.33' to the highest occupied floor (level 43/the penthouse's second floor). The mechanical penthouse begins on level 44 (405' above grade).

[lzppjb]

You're right, Mopacs. I go by trunk circumference as well. These are Texas Oaks, also known as Escarpment Oaks. They aren't the same as the ones you see in the deep south. They'll top out around 50 feet, but have a very wide crown. I've got one in south Austin about 110" in circum. So they do get pretty large. In fact, I just took pics of one in Lampasas on 183 that is 172". It was huge.

And please do take some more pics when you have a chance. I'd appreciate it.

[KevinFromTexas]

Originally Posted by lzppjb

You're right, Mopacs. I go by trunk circumference as well. These are Texas Oaks, also known as Escarpment Oaks. They aren't the same as the ones you see in the deep south. They'll top out around 50 feet, but have a very wide crown. I've got one in south Austin about 110" in circum. So they do get pretty large. In fact, I just took pics of one in Lampasas on 183 that is 172". It was huge.

And please do take some more pics when you have a chance. I'd appreciate it.

There's a an Oak tree hanging over Parmer Lane, (I believe), in North Austin just a few blocks west of I-35. That tree is truly huge. It hangs over 4 lanes of traffic. It's one of the most impressive trees in the city.

At GoldenBoot: awesome heights there for Spring! Thanks.

[KevinFromTexas]

Click on the link below for maps and photos.

From the Austin American-Statesman
http://www.statesman.com/business/content/business/stories/realestate/03/13/13sabine.html

REAL ESTATE
Downtown adding more condos to the mix
Walls are coming down as offices are turned into dozens of new residences.

By Shonda Novak
AMERICAN-STATESMAN STAFF

Tuesday, March 13, 2007

Downtown Austin's condo building boom is taking a twist, with several projects that are turning former office buidlings into residences.

Next up is Sabine on Fifth, a 10-story building of mostly empty offices that CWS Capital Partners LLC recently started transforming into 80 condominiums.

The building, at the northeast corner of Sabine and East Fifth streets, adjoins the Hilton Garden Inn.

Crews are gutting the building, where CWS plans to install new windows and walls, along with new plumbing, mechanical, electrical and heating and cooling systems.

Prices for the smallest one-bedrooms, with about 700 square feet, will start in the mid-$190,000s, lower than many of downtown's new residences, said Kevin Burns, owner of Urbanspace Realtors LLP, an Austin-based firm that is marketing the units.

The highest-priced units, with 1,461 square feet, will be in the mid-$500,000s.

Just a few blocks away, Pomeroy Investment Corp. said Monday it is considering adding 25 "ultra-luxury" condominiums atop Capitol Tower, one of two downtown office buildings the Bloomfield, Mich.-based firm bought in January. The 20th penthouse floor would be expanded and a 21st floor added, with the condos occupying floors 19 through 21.

Prices would range from the $800,000s to more than $1 million, said Jerry Reinhart, Pomeroy's president and chief executive. If the company decides to move forward, construction could start within 90 days, he said.

The rest of the building, which Pomeroy is renovating, would remain offices.

Nearby, Pomeroy is well under way converting the former One Commodore office building into Brazos Place, 74 condominiums at East Eighth and Brazos streets.

The smallest one-bedrooms, with 623 square feet, are priced at $189,900. The largest units, with 1,400 square feet, are priced at about $500,000. The largest unit, with 1,200 square feet plus a 900-square-foot balcony on the 13th floor, sells for $619,900. Units in the second phase will go on sale later this month, and prices will be higher, Reinhart said. The project also will include retail space and offices for sale and for rent.

The CWS and Pomeroy projects come amid a residential building boom, with numerous condo and apartment projects proposed or under construction south and east of downtown.

Though some real estate consultants say there's ample demand to fill all the projects, some real estate agents wonder whether the central business district could end up with more housing units than residents.

"I'm very concerned that there's a potential for a glut," said Leigh Gambrell, a real estate agent with Kovas and Associates Realtors, echoing views that a few agents have expressed privately. "You sacrifice space for location, and the downtown living experience appeals to a smaller segment of buyers."

With many of downtown's new condos starting in the $300,000s and topping $1 million, "it's just not an accessible price point," Gambrell said.

But developers are betting on continued strong demand for housing downtown. Pomeroy, for example, is spending $25 million in improvements for its downtown projects.

"We've experienced strong demand . . . and the number of units we're bringing onto the market is less than 100," said Reinhart. "And we believe there's sufficient demand to absorb those units, based on our own market research and the purchase agreements we have signed to date."

The CWS project coincides with plans to revive the nearby Waller Creek tunnel project. Rising costs have mired plans for the flood control project, now estimated to cost $124 million, but Austin appears to have found a partner — Travis County.

In coming weeks, the county is set to approve a new taxing district that will dedicate much of the new property tax revenue from the creek corridor to pay for the tunnel.

Greg Miller, vice president for investment, said CWS is committed to investing in parts of downtown that traditionally have been overlooked. He said the company will proceed with Sabine on Fifth regardless of whether the Waller Creek project moves ahead.

So here's what the Capitol Tower currently looks like. It has 20 floors, and the height I've found for it is 242 feet.


Now, this is the rendering they released last year. They would add a crescent shaped crown. Now with them saying that they might expand the 20th floor and add a 21st floor, plus the crown being up there, it may end up being almost 300 feet tall. This is interesting. I'm really curious to see how tall it'll end up being after the renovation.

[crewer]

Originally Posted by KevinFromTexas

Click on the link below for maps and photos....Now, this is the rendering they released last year. They would add a crescent shaped crown. Now with them saying that they might expand the 20th floor and add a 21st floor, plus the crown being up there, it may end up being almost 300 feet tall. This is interesting. I'm really curious to see how tall it'll end up being after the renovation.

I think I would start by imploding this eyesore and starting fresh! This has been one of my least favorite buildings since it was built. When it was under construction I remember thinking, "At what point does style and design kick in?" I mean look at it! There's more garage space than office space! The building should have been at least 15 stories taller. But then, we would have had an ugly building towering above all others.

Furthermore, slapping the equivalent of a radio telescope on top of the damn thing is about a step away from mounting one of Pinky's huge inflatable gorillas up there. I'm not getting it!

But, of course, that's just an opinion.

[KevinFromTexas]

Yeah, but luckily even though it's fairly tall, 242 feet tall, currently our 14th tallest, it really doesn't stand out much even though it's on the eastern edge of downtown. It kind of gets lost in the crowd. There are so many projects coming down the pipeline that I'm not really worried about it. It'll just get buried into obscurity among the others even with the possible height increase. Right now there are 4 other buildings that are under construction that will be taller than this one, and atleast 14 more that are either approved or proposed that will be taller. So when all is said and done in 2009, it could end up being at the most the 31st tallest in Austin, and with the height increase it may only move up 2 or 3 spots at the most.

[Mopacs]

Originally Posted by KevinFromTexas

Yeah, but luckily even though it's fairly tall, 242 feet tall, currently our 14th tallest, it really doesn't stand out much even though it's on the eastern edge of downtown. It kind of gets lost in the crowd. There are so many projects coming down the pipeline that I'm not really worried about it. It'll just get buried into obscurity among the others even with the possible height increase. Right now there are 4 other buildings that are under construction that will be taller than this one, and atleast 14 more that are either approved or proposed that will be taller. So when all is said and done in 2009, it could end up being at the most the 31st tallest in Austin, and with the height increase it may only move up 2 or 3 spots at the most.

I'm curious...with the added floors, do you think its possible they may scrap the crown design? I've never been a fan of this building either, but it could be improved somewhat if they radically change/reclad the exterior. Also, because of its proximity to the capitol, I think it will continue to stand out, more so than other buildings of comparable height (for better or for worse!).

And..speaking of the capitol and view corridors, this building ruined one of the best views of the Capitol... from I-35 south, as you make the downhill turn into the downtown area and river valley (between Woodland and Riverside Drive). Its akin to putting up a big ugly wall!

EDIT: Ok, the Federal building also partially blocked the capitol, as far back as the early 70s, when this postcard photo was taken (from I-35 at Riverside). Two Commodore Plaza (as it was known then), came in and finished the deal, with its 'wall':



And while we're on a historic kick, here is a scan I grabbed from an old Austin magazine:

[Mopacs]

Originally Posted by lzppjb

You're right, Mopacs. I go by trunk circumference as well. These are Texas Oaks, also known as Escarpment Oaks. They aren't the same as the ones you see in the deep south. They'll top out around 50 feet, but have a very wide crown. I've got one in south Austin about 110" in circum. So they do get pretty large. In fact, I just took pics of one in Lampasas on 183 that is 172". It was huge.

And please do take some more pics when you have a chance. I'd appreciate it.

Hey lzppjb,

Here's another photo taken from The Domain.. I suspect the tree pictured is one of the oldest on the "Century Oaks Terrace" main street. What would you estimate its age to be?



I believe this is the same tree, from another angle



And another... The big guy on the left must be at least 40-50 years old... perhaps more



More trees...from "Century Oaks Park" in the middle of the complex

[KevinFromTexas]

Originally Posted by Mopacs

And another... The big guy on the left must be at least 40-50 years old... perhaps more

I would say those are probably older than that. I say this because our lot has nothing but Elms and Oaks. My family has lived in this house since about 1964 and the Oaks were already well established then and quite large according to old photographs of the house from the late 60s. I'd say the one on the left is as old as 60 to 75 years old. Both of those are quite similar in size and shape to two we have in our front yard near the house. My grandmother's house nextdoor has one off the back porch that is about as big as both of those combined. The branches on that tree completely cover her house and much of the yard. Our house and her's when viewed from GoogleEarth are actually completely covered under a canopy of Oaks. It's hard to say, though, trees do better in some locations than others and grow faster or slower depending on the location and conditions. We have two Pecans in the backyard and one was always pinched for space, fighting for light and canopy space among the Oaks and a nearby Mamosa. That tree is about 15 years old now and is scrawny, while another one is about the same age and is a much healthier tree growing straight up with perfect branch structure.

[AustinGuy]

It's kind of curious that along with all of the new condo highrises, older office buildings are also being converted into condos. I'm glad that the city is working to get more people living downtown, but it seems that a two-pronged approach is needed where they also should try to get more jobs to be located downtown.

If downtown starts to take off in a major way in a few years, we could suffer from a serious lack of office space since the major projects in the works are almost all condos.

[Kevinb]

Originally Posted by GoldenBoot

FYI:

According to the architectural drawings, Spring will be 431.67' from grade to roofline and 394.33' to the highest occupied floor (level 43/the penthouse's second floor). The mechanical penthouse begins on level 44 (405' above grade).

GoldenBoot, does this indicate 9 foot interior ceilings for the residences?

[KevinFromTexas]

Originally Posted by Kevinb

GoldenBoot, does this indicate 9 foot interior ceilings for the residences?

More or less, yes. The link below says the units will have 8 foot 8 inch ceiling heights.

http://www.springaustin.com/conversion/Building%20Features%20and%20Finishes.pdf

[Northcrossed]

Originally Posted by KevinFromTexas

There's a an Oak tree hanging over Parmer Lane, (I believe), in North Austin just a few blocks west of I-35. That tree is truly huge. It hangs over 4 lanes of traffic. It's one of the most impressive trees in the city.

Braker, probably.

[Texas Tuff]

The Domain looks sooooo cooool!!!! I love it already without even seeing it in person! I will have to check that out for sure the next time I am in the Austin area. It reminds me of some of the "al fresco" shopping plazas I have seen on the West Coast (but this one looks even better than the ones I have seen in Southern California). I like how it has a Texas flair with the use of natural rock in various places, in addition to the trees you guys mention. It's a shame you couldn't have a place like the Domain closer to downtown. I suppose you could but I am sure space would be a prohibitive factor.

[Mopacs]

Originally Posted by tuffaso

The Domain looks sooooo cooool!!!! I love it already without even seeing it in person! I will have to check that out for sure the next time I am in the Austin area. It reminds me of some of the "al fresco" shopping plazas I have seen on the West Coast (but this one looks even better than the ones I have seen in Southern California). I like how it has a Texas flair with the use of natural rock in various places, in addition to the trees you guys mention. It's a shame you couldn't have a place like the Domain closer to downtown. I suppose you could but I am sure space would be a prohibitive factor.

Yep, would be nice a little closer to downtown, like north of UT or south of downtown. But you're right, there's no way a development of this size could be built so close into town, without a company purchasing and combining several tracts of land for a single, cohesive development, as is the Domain. Endeavor Real Estate group, earlier this decade, purchased the entire (former)IBM campus, and codeveloped the Domain retail center with Simon, the nation's largest mall developer/management company.

[crewer]

Originally Posted by AustinGuy

It's kind of curious that along with all of the new condo highrises, older office buildings are also being converted into condos. I'm glad that the city is working to get more people living downtown, but it seems that a two-pronged approach is needed where they also should try to get more jobs to be located downtown.

If downtown starts to take off in a major way in a few years, we could suffer from a serious lack of office space since the major projects in the works are almost all condos.

I was thinking the same thing when I read about this. It makes little sense to be eliminating office space for more condos. That won't last long, though.

So, any thoughts on the deterioration of the subprime mortgage sector and the domino effect resulting from it? Think it will have an impact on the demand for downtown condos?

[Strayone]

Yep The Domain has even caught my attention, and I don't like to shop. It looks like something I would imagine just west of downtown, Lamar and 6th, if they had planned it out better. No chance for this kinda complex near in without wipeing out huge areas of homes and businesses. But it would be cool if the South East area of Downtown could do a smaller version, like a plan a couple years ago. Don't hear much of the Waller ck plan anymore.

[crewer]

Originally Posted by Strayone

Yep The Domain has even caught my attention, and I don't like to shop. It looks like something I would imagine just west of downtown, Lamar and 6th, if they had planned it out better. No chance for this kinda complex near in without wipeing out huge areas of homes and businesses. But it would be cool if the South East area of Downtown could do a smaller version, like a plan a couple years ago. Don't hear much of the Waller ck plan anymore.

But the thing is, The Domain is still suburban shopping but in the context of new urbanism. It's not downtown and would look pretty goofy there. Keep in mind, though, that much of what's being built downtown will include a substantial amount of retail. So in essence, you'll have the same thing as the Domain in terms of shopping below housing; you just won't have the cutesy new streetscapes, which is okay. Plus, we're still looking at plenty of prime property on Congress Avenue that is empty and ready for development as the demand rises. If all goes as planned, we should see a nice healthy balance of offices, shopping and housing downtown.

In the meantime, though, people purchasing downtown condos must face the reality that they WILL be making regular trips out of downtown to do their runs to the "affordable" grocery stores, hardware, department, and specialty stores and theaters.