Man, we'll be stretching our skyline out some more with this one. It'll be located at the southeast corner of Red River Street & Luther Lane. Luther Lane is 3 blocks north of 32nd Street. So this building will be 35 blocks north of the river, basically directly across I-35 from Mueller...
Click on the link for a map of the area.
From the Austin American-Statesman
http://www.statesman.com/business/content/business/stories/realestate/09/27/0927hyatt.html
COMMERCIAL REAL ESTATE
Upscale Hyatt hotel to debut in Austin
Hotel will be part of $750 million Concordia campus redevelopment
By M.B. Taboada
AMERICAN-STATESMAN STAFF
Thursday, September 27, 2007
The transformation of the Concordia University campus into a $750 million major mixed-use development will include a high-end,
17-story hotel and condominium project featuring a new upscale concept from Global Hyatt Corp.
Global Hyatt and developer East Avenue Investment Group LP, which is leading the team behind the 2.75 million-square-foot redevelopment, will announce today a 210-room luxury Andaz hotel. The concept for Andaz hotels was unveiled this year, with the first one opening in London next month and two more in Manhattan in 2009.
East Avenue is redeveloping the 23-acre Austin campus into a hub of offices, shops and multifamily living. The project will be one of the tallest, densest projects outside the downtown area.
As part of the hotel project, about 150 condominium units that will have access to the hotel's services will sit atop the Andaz in a joint 182-foot structure. The condos will range between 800 and 2,700 square feet and will be priced from the $400,000s.
"We're very fortunate they selected our site for this new brand," said Andy Sarwal, head of the East Avenue Investment Group. "The attitude and characteristics of this particular hotel fit Austin very well."
The hotel, which is expected to open in 2010, will offer amenities such as a spa and fitness center and a 20,000-square-foot park-like roof that includes a cocktail lounge and restaurant.
It will have appeal in Austin for its high-quality amenities but also will reflect the city's casual atmosphere, Sarwal said.
"The Andaz concept will integrate well with this prime location and Austin's cosmopolitan energy," Steve Haggerty, global head of real estate and development for Global Hyatt, said in a statement. "Together, we intend to attract customers looking for fresh, uncomplicated luxury."
The hotel will be energy-efficient and will use ecologically friendly building materials. It will also offer organic food.
The university, near Interstate 35 and 32nd street, is relocating within 18 months to the former Schlumberger Ltd. Business campus off RM 620 in Northwest Austin.
The move will open up prime acreage in Austin's core, Sarwal said.
He added that the development will sit on a hill and provide views of the downtown skyline.
Construction is expected to begin by year's end, with two office buildings featuring ground-floor retail.
The plans, which call for 1,450 condominiums, 325,000 square feet of retail and 600,000 square feet of office space, initially caused neighborhood opposition because of building heights and anticipated traffic increases.
But the City Council cleared the way for the development by approving new zoning for the project in March, and neighbors backed final plans, which called for building height caps, some affordable housing and park improvements.
Hotel rendering:
Pirate Studios
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