AUSTIN | Projects & Construction II

[KevinFromTexas]

Ezra is pushing his calendars at his music gigs. He puts them on stage where people think at first they're CDs. So who's buying them? So far, he says, mostly drunks. Although he sees a wider audience.

[Nickelplate]

John Kelso is a douche! I guess he has nothing better to comment about except downtown development. Not that I blame him!!

[hookem]

Originally Posted by Strayone

Here are a couple of shots from near lamar nothing special but it has been a bit slow in here.

Love this pic. Such a beautiful contrast: the oldest thing in the pic -- older than all the buildings, trees, sidewalks, even pavement on the street (ok, except for the Seaholm smokestacks)... is the car that guy/gal is using as a daily driver (a mid-70's Lincoln Continental MK V, if I'm not mistaken)!

Sometimes I feel like that car .

[priller]

A crane calendar! Why didn't I think of that?

[oberthewhat]

My girlfriend brought me home that calendar just the other day, i figured it was one of you guys on here that made it. cranes rule!

[jgouger]

Congress Avenue Marriott project on hold

By Shonda Novak | Friday, December 5, 2008, 12:12 PM
http://www.statesman.com/blogs/content/s...2/05/citys_largest_hotel_project_on.html

Citing the sharp economic downturn, the developer of the 26-story, 1,000 room Marriott convention hotel project planned for Congress Avenue says the project is on hold.

“This is the most difficult time in recent memory to crystal ball the upcoming year due to the unparalleled severity of the economic downturn and the fact that the financial community remains in a “holding” pattern,” Deno Yiankes, White Lodging’s president and chief operating officer of investments and development based in Merrilville, Ind., wrote in an e-mail.

“This is likely to continue for several months until they fully understand what new federal rules & regulations they will be facing as the industry deleverages itself from the last several years of excess. We will not be in a position to comment on our downtown projects until after the new year.”

The last word was that construction on the $275 million Marriott, to be built on Congress between Second and Third streets, would start sometime in 2009. Yiankes gave no new projected start date.

The project, which would be Austin’s largest hotel development, has been controversial because it led to the displacement of several local businesses, including the Las Manitas Avenue Cafe. Las Manitas closed in August but is scheduled to reopen in a new location the restaurant owners own in the same block.

The Tesoros Trading Company folk art store next door to Las Manitas has already moved to South Congress, and Escuelita del Alma, a bilingual day care in the same block, found a new site in East Austin.

White Lodging has said the Marriott project would generate more than $7 million annually in property taxes and hotel occupancy taxes and employ 600 people. The latest plans had called for a 1,000-room hotel with 85,000 square feet of meeting, banquet and exhibition space.

Hotel industry consultants say 2009 is expected to be an extremely difficult year for hoteliers. However, the consultants expect a strong recovery for the Texas and Austin hotel markets in 2010 because of the relative strength of their economies.

[MichaelB]

Originally Posted by jgouger

Congress Avenue Marriott project on hold

By Shonda Novak | Friday, December 5, 2008, 12:12 PM
http://www.statesman.com/blogs/content/s...2/05/citys_largest_hotel_project_on.html

Citing the sharp economic downturn, the developer of the 26-story, 1,000 room Marriott convention hotel project planned for Congress Avenue says the project is on hold.

“This is the most difficult time in recent memory to crystal ball the upcoming year due to the unparalleled severity of the economic downturn and the fact that the financial community remains in a “holding” pattern,” Deno Yiankes, White Lodging’s president and chief operating officer of investments and development based in Merrilville, Ind., wrote in an e-mail.

“This is likely to continue for several months until they fully understand what new federal rules & regulations they will be facing as the industry deleverages itself from the last several years of excess. We will not be in a position to comment on our downtown projects until after the new year.”

The last word was that construction on the $275 million Marriott, to be built on Congress between Second and Third streets, would start sometime in 2009. Yiankes gave no new projected start date.

The project, which would be Austin’s largest hotel development, has been controversial because it led to the displacement of several local businesses, including the Las Manitas Avenue Cafe. Las Manitas closed in August but is scheduled to reopen in a new location the restaurant owners own in the same block.

The Tesoros Trading Company folk art store next door to Las Manitas has already moved to South Congress, and Escuelita del Alma, a bilingual day care in the same block, found a new site in East Austin.

White Lodging has said the Marriott project would generate more than $7 million annually in property taxes and hotel occupancy taxes and employ 600 people. The latest plans had called for a 1,000-room hotel with 85,000 square feet of meeting, banquet and exhibition space.

Hotel industry consultants say 2009 is expected to be an extremely difficult year for hoteliers. However, the consultants expect a strong recovery for the Texas and Austin hotel markets in 2010 because of the relative strength of their economies.

I bet the "Sisters" (from Las Manitas) are "entertained" by this news.

[Mopacs]

New mid-rise office development planned on Loop 360. Groundbreaking a ways off.

http://austin.bizjournals.com/austin/stories/2008/12/08/story4.html

Loop 360 offices planned

Developers will wait for economy to rebound
Austin Business Journal - by Kate Harrington ABJ Staff



A planned office project could bring 356,000 square feet of office buildings to the South Capital of Texas Highway corridor, also known as Loop 360.
Capital Ridge, once completed, would include two 178,000-square-foot, six-story office buildings and two 600-space parking garages on a 31-acre tract near the intersection of Bee Cave Road and Capital of Texas Highway, according to city of Austin documents.

The project has received approval from Austin’s Zoning and Platting Commission for a variance to build a driveway across ravines on the land, and the project as a whole is on track to get final approval from the city, says Brad Jackson, a senior environmental reviewer with the city.

But the $70 million office project likely won’t break ground soon, says Jeremy Smitheal, a partner with Austin-based Riverside Resources. Riverside is the owner and developer for Capital Ridge.

[crewer]

Originally Posted by jgouger

Congress Avenue Marriott project on hold

By Shonda Novak | Friday, December 5, 2008, 12:12 PM
http://www.statesman.com/blogs/content/s...2/05/citys_largest_hotel_project_on.html

Citing the sharp economic downturn, the developer of the 26-story, 1,000 room Marriott convention hotel project planned for Congress Avenue says the project is on hold.

No surprise here. The hotel industry is in trouble right now.

[austintilIdie]

So the slowdown is hitting Austin. Shall we assume Spring, W, Four Seasons, Gables, Legacy, Austonian, Ashton and such finish out the current boom, while 21C, Marriott and Tom Stacey and Novarre and others may stay on the shelf for easily up to a year, if not more, before downtown's next groundbreaking.

Wasn't a hotel a component in the Stacey plans?

[MichaelB]

Originally Posted by austintilIdie

So the slowdown is hitting Austin. Shall we assume Spring, W, Four Seasons, Gables, Legacy, Austonian, Ashton and such finish out the current boom, while 21C, Marriott and Tom Stacey and Novarre and others may stay on the shelf for easily up to a year, if not more, before downtown's next groundbreaking.

Wasn't a hotel a component in the Stacey plans?

It is so amazing to think we got 7 major buildings added to the skyline! Wow! That is great. Really glad this has slowed down. The pacing may be better for Austin in the long run.

[JGFrisco]

You know, folks like Kelso were why I left Austin 19 years ago. For years, guys like him cry and moan and complain about growth, and pine for the old days when Austin was Waco.

Thanks to guys like him, Austin tried hard to stop growth, and did not plan adequately. The city opposed highways, treatment plants, and other elements of a properly planned city. Kelso and his ilk are the reason that 290 is STILL not built in Oak Hill...the reason 183 is STILL not complete in places..the reason there is no adequate east-west link across the city.

Thanks John.

[Dan Denson]

Originally Posted by JGFrisco

You know, folks like Kelso were why I left Austin 19 years ago. For years, guys like him cry and moan and complain about growth, and pine for the old days when Austin was Waco.

Thanks to guys like him, Austin tried hard to stop growth, and did not plan adequately. The city opposed highways, treatment plants, and other elements of a properly planned city. Kelso and his ilk are the reason that 290 is STILL not built in Oak Hill...the reason 183 is STILL not complete in places..the reason there is no adequate east-west link across the city.

Thanks John.

I wouldn't really blame Kelso. He just a humorist and the intention is to make people laugh. He's not powerful enough to have caused the problems you mention. Others are, though. Overall, I feel the same way you do. Now, if we could only have timed traffic lights and safe bike paths.

[jgouger]

Originally Posted by JGFrisco

You know, folks like Kelso were why I left Austin 19 years ago. For years, guys like him cry and moan and complain about growth, and pine for the old days when Austin was Waco.

Thanks to guys like him, Austin tried hard to stop growth, and did not plan adequately. The city opposed highways, treatment plants, and other elements of a properly planned city. Kelso and his ilk are the reason that 290 is STILL not built in Oak Hill...the reason 183 is STILL not complete in places..the reason there is no adequate east-west link across the city.

Thanks John.

Yeah I agree with you. Despite the reservations of people of Yesteryear, Austin is quickly becoming a major city. Austin is not the place that it was even 20 years ago and seems to attract more people here every day. Fortunately they are trying to put in the infrastructure now to accommodate that growth.

I wouldn't be surprised that if within 10 years we crack the top ten largest cities list. Nor would I be surprised if in 20 years 5 of the top ten cities in the USA are in Texas.

[shanny]

if growth projections are correct and we double our population every twenty years the way we have been Austin will have 8 million people by 2050...definately on the top ten list

__________________________
Colin Pope
Austin Business Journal Staff

Flash back to 1950: Austin is a humble Texas town, a small city where politicians and college students converge. I-35 and other major roads have yet to be considered, and the town is an oasis for the 135,000 people who live here.

Now, flash forward to 2050: The Austin area is one of the largest metropolitan areas in the United States. It has outgrown San Antonio decades earlier, and its size and affluence rival the Boston area and eclipse the Detroit area. More than 7.8 million people now call Central Texas home.

[M1EK]

Originally Posted by JGFrisco

You know, folks like Kelso were why I left Austin 19 years ago. For years, guys like him cry and moan and complain about growth, and pine for the old days when Austin was Waco.

Thanks to guys like him, Austin tried hard to stop growth, and did not plan adequately. The city opposed highways, treatment plants, and other elements of a properly planned city. Kelso and his ilk are the reason that 290 is STILL not built in Oak Hill...the reason 183 is STILL not complete in places..the reason there is no adequate east-west link across the city.

Thanks John.

Kelso, as much as I dislike him, would probably have supported those roads. And if those roads had been built, Austin would be San Antonio (we wouldn't see new highrises; we'd see sprawl over 100% instead of 50% of our hill country suburbs, and the center-city would have been destroyed).

[Northcrossed]

Originally Posted by shanny

if growth projections are correct and we double our population every twenty years the way we have been Austin will have 8 million people by 2050...definately on the top ten list

Not during a depression, which is what we’re (humans/globally) going to be in for the next 15-20 years. We can’t build the housing to warehouse all those neo-Okies if lenders won’t lend. The more creative REO-holding banks will convert their vacant McMansions into flats, but the number of bodies needed to put greater Austin into the top 10 won’t be coming here because there won’t be jobs for them. It may be a little better here than elsewhere, but not enough for the Joads to take the chance of spending their last dollar to move here without any prospects. Other than that everything will be wonderful.

When we liquidate the last non-performing property, junk the last ReFi-funded SUV, burn-out the last pixel on the last giant plasma TV then we can start making things in this country again and have the jobs needed to pay back painfully-scrutinized 20%-down mortgages.

[jgouger]

Originally Posted by Northcrossed

Not during a depression, which is what we’re (humans/globally) going to be in for the next 15-20 years. We can’t build the housing to warehouse all those neo-Okies if lenders won’t lend. The more creative REO-holding banks will convert their vacant McMansions into flats, but the number of bodies needed to put greater Austin into the top 10 won’t be coming here because there won’t be jobs for them. It may be a little better here than elsewhere, but not enough for the Joads to take the chance of spending their last dollar to move here without any prospects. Other than that everything will be wonderful.

When we liquidate the last non-performing property, junk the last ReFi-funded SUV, burn-out the last pixel on the last giant plasma TV then we can start making things in this country again and have the jobs needed to pay back painfully-scrutinized 20%-down mortgages.

Have no fear! El Presidente Obama is here!

[Dan Denson]

Originally Posted by jgouger

Have no fear! El Presidente Obama is here!

Yes...he'll be a great deal better than what we've had for 8 years, but it's going to be difficult to undo all the damage.

[Nickelplate]

I smell a 1929 in 2009!! Cross your fingers folks as we become "Neo Mexico" The newest third world nation on the block!!