AUSTIN | Projects & Construction II

[StoOgE]

Companies are not going to move their HQ to Austin because F1 has come to town. That is just stupid, and I say that as someone who has been watching F1 since I was knee high to nothing.

F1 is huge for the economy, F1 is going to bring a lot of very high end retail downtown and may be the kick in the pants the city needs to get a damned train going from the airport to the track and downtown at some point.

It is going to bring in a lot of nice hotels downtown and some better restaraunts to the city and higher end nightclubs. It may even transform dirty 6th over time into something a bit more upscale.

The additional revenue may lead to infastructure improvements, mass transit, etc over time.

The race is going to be great for the city, and may spur it to make improvements that make it more desirable for large companies to open offices here. It is not, however, going to make Sears move here because the CEO goes to a race in Austin and thinks it's cool.

[wwmiv]

Originally Posted by StoOgE

Companies are not going to move their HQ to Austin because F1 has come to town. That is just stupid, and I say that as someone who has been watching F1 since I was knee high to nothing.

F1 is huge for the economy, F1 is going to bring a lot of very high end retail downtown and may be the kick in the pants the city needs to get a damned train going from the airport to the track and downtown at some point.

It is going to bring in a lot of nice hotels downtown and some better restaraunts to the city and higher end nightclubs. It may even transform dirty 6th over time into something a bit more upscale.

The additional revenue may lead to infastructure improvements, mass transit, etc over time.

The race is going to be great for the city, and may spur it to make improvements that make it more desirable for large companies to open offices here. It is not, however, going to make Sears move here because the CEO goes to a race in Austin and thinks it's cool.

I could not have said it better.

[KevinFromTexas]

The only way we could get any more headquarters thanks to F1 would be from companies that are involved in that industry, either something in fuel effeciency or aerodynamics or something less sexy like an auto parts manufacturer. But for anything that isn't related to F1 racing, the word is no. It's like counting on Austin getting more jobs and headquarters because of a major league sports team coming here. Of course those things don't hurt the local economy and business environment, but they're not things that create new demand, and companies don't just up and move their headquarters because of some new attraction.

[ahealy]

Originally Posted by StoOgE

F1 is huge for the economy, F1 is going to bring a lot of very high end retail downtown and may be the kick in the pants the city needs to get a damned train going from the airport to the track and downtown at some point.

I certainly hope so...

[Austin1971]

Only in Austin..........

ByFarzad Mashhood
AMERICAN-STATESMAN STAFF

A city panel decided Tuesday night not to approve chopping down a 57-foot pecan tree in favor of a high-rise office and residential tower downtown.

http://www.statesman.com/news/local/city-panel-votes-to-save-downtown-tree-1908541.html

[BevoLJ]

Will new Travis County civil courthouse project rise 66 stories?
By Juan Castillo
AMERICAN-STATESMAN STAFF
Updated: 5:19 a.m. Wednesday, Oct. 12, 2011
Published: 9:48 p.m. Tuesday, Oct. 11, 2011

A vision for a so-called downtown Travis County Central Campus master plan is coming into focus, with the site for the planned new civil courthouse potentially looming tall on the horizon.

But 66 stories tall?

Although it is still in the refinement stages and won't come up for a possible vote for at least another month, a consultant's plan includes a scenario in which the county would lease space in a 66-story tower with nearly 1.4 million square feet alongside an 18-story courthouse. The courthouse would be 510,000 square feet, with some space to lease to public agencies.

But Travis County Judge Sam Biscoe said Tuesday that the consultant was merely trying to show maximum capacity for development. Biscoe said a more realistic scenario would be much smaller.

Biscoe said the county is looking at the feasibility of a private-public partnership. "Whether that materializes is still a matter of question, but it makes sense to try to do that if possible," Biscoe said.

...

Under consultant Broaddus and Associates' plan, the scope of the potential high-rise represents the largest possible building that could be built under the proposed density limits in the city's downtown plan, which the City Council could vote on as early as next month. The vision doesn't reflect market demand, according to Broaddus.

...

http://www.statesman.com/news/local/will...oject-rise-1908368.html?cxtype=rss_local

[N90]

Originally Posted by BevoLJ

Will new Travis County civil courthouse project rise 66 stories?
By Juan Castillo
AMERICAN-STATESMAN STAFF
Updated: 5:19 a.m. Wednesday, Oct. 12, 2011
Published: 9:48 p.m. Tuesday, Oct. 11, 2011

Great news for Austin's skyline, just another month to go before we find out if its "realistic" enough for Travis County. It's going to have to battle T. Stacy to potentially become Austin's tallest skyscraper.

[StoOgE]

Originally Posted by KevinFromTexas

The only way we could get any more headquarters thanks to F1 would be from companies that are involved in that industry, either something in fuel effeciency or aerodynamics or something less sexy like an auto parts manufacturer. But for anything that isn't related to F1 racing, the word is no. It's like counting on Austin getting more jobs and headquarters because of a major league sports team coming here. Of course those things don't hurt the local economy and business environment, but they're not things that create new demand, and companies don't just up and move their headquarters because of some new attraction.

All of the teams are based in Europe. Even those owned in other countries, and almost all of the top level cars are run by true contsructors who build their own cars and engines, and those that don't build their own powerhouses buy engines from the better funded teams.

There isn't a giant industry that hovers around F1 just waiting on a track to open up to build car parts for the race cars. Getting a professional football team doesn't mean Russel athletic is going to open up a factory to make shoulder pads. Maybe if USF1 or something else actually gets off the ground they could base it in Austin, but I doubt that happens.

The F1 race is another SXSW with higher end clientel who are willing to drop a ton of money on the race. That's why we are getting a hotel with a helipad.

Austin has 10 years to get the infastructure built to make this a world class race. That is going to mean mass transit running from downtown to the race and getting the airport improved. A light rail system connecting the city center to the current rail line would be the step to take after that. Then you could see business investing along that line and less accessible parts of downtown/central Austin becoming desirable to build in for dining/drinking/sleeping.

The real hope here is that the city realizes this oppurtunity and is able to leverage the infastructure that needs to be built for this race into future events and companies seeing Austin as a desirable place to come.

10 years from now if we have a track out by the airport that you have to drive to like Texas Motor Speedway up in Denton and no further infrasructure created? We'll have an empty track hosting club sport events and F1 will have moved somewhere else in the country that might get it right.

The city has been handed a golden oppurtunity to do something big and use the race as the building point for something really special. Some cities have used the Olympics to transform themselves into something much better than they were, revitalize off parts of town, build transit lines, etc. that have improved the city for decades to come. And some cities squandered that chance. This is no different.

[ahealy]

Originally Posted by StoOgE

The F1 race is another SXSW with higher end clientel who are willing to drop a ton of money on the race. That's why we are getting a hotel with a helipad.

Which hotel is that?

[migol24]

Originally Posted by ahealy

Which hotel is that?

the manchester group convention center hotel... or whatever the hell is called.

[BevoLJ]

Originally Posted by ahealy

Which hotel is that?

The ones designing the one on Red River said (I think in an email to Kevin?) that they may not have that kick ass spire thingy because their clients want a helipad.

[Jdawgboy]

Originally Posted by StoOgE

Companies are not going to move their HQ to Austin because F1 has come to town. That is just stupid, and I say that as someone who has been watching F1 since I was knee high to nothing.

F1 is huge for the economy, F1 is going to bring a lot of very high end retail downtown and may be the kick in the pants the city needs to get a damned train going from the airport to the track and downtown at some point.

It is going to bring in a lot of nice hotels downtown and some better restaraunts to the city and higher end nightclubs. It may even transform dirty 6th over time into something a bit more upscale.

The additional revenue may lead to infastructure improvements, mass transit, etc over time.

The race is going to be great for the city, and may spur it to make improvements that make it more desirable for large companies to open offices here. It is not, however, going to make Sears move here because the CEO goes to a race in Austin and thinks it's cool.

I really disagree with your statement it is not stupid, why don't you look up the other cities that host F1 races and tell me no companies moved to them since they began hosting. I think you will be hard pressed to find any I will stand by my statement.


By the way I take offense to you using the word stupid, as directed at me. So I would expect you to keep your tone down or change your wording.

Also past articles have stated it is not out of the question that companies will look at Austin now that the track will be here as opposed to before.

[wwmiv]

Originally Posted by Jdawgboy

I really disagree with your statement it is not stupid, why don't you look up the other cities that host F1 races and tell me no companies moved to them since they began hosting. I think you will be hard pressed to find any I will stand by my statement.


By the way I take offense to you using the word stupid, as directed at me. So I would expect you to keep your tone down or change your wording.

Also past articles have stated it is not out of the question that companies will look at Austin now that the track will be here as opposed to before.

I'm sorry, but you are simply wrong.

[NYC_Longhorn]

JDawg is right... This is a no-brainer... Of course F1 will attract companies... it already has... Not to mention a major medical center, and a variety of other businesses.... F1 is a serious serious deal... and to say that such a large event won't be a huge game changer is really ignorant... and I'm saying that as someone who never has watched racing and doesn't care about it.... It doesn't take an expert to understand economic impact....

I'm with you JDawg.... and not just because I don't like bullies on our forum... someone needs to say it....

[wwmiv]

Originally Posted by NYC_Longhorn

JDawg is right... This is a no-brainer... Of course F1 will attract companies... it already has... Not to mention a major medical center, and a variety of other businesses.... F1 is a serious serious deal... and to say that such a large event won't be a huge game changer is really ignorant... and I'm saying that as someone who never has watched racing and doesn't care about it.... It doesn't take an expert to understand economic impact....

I'm with you JDawg.... and not just because I don't like bullies on our forum... someone needs to say it....

... F1 is not going to attract companies to relocate here on the basis of its existence here alone, and the medical school idea has been floating around for many years prior to F1.

Yes, it will have an economic impact, but in the same vein as any of the other high profile once a year events that happen in Austin: they attract consumers who spend money which gives us a large cash influx.

Companies locate in whichever locality that will give them the best deal. F1 takes up starkly little space in that calculus, and the idea that it would be the primary factor is laughable.

[ROCrot]

I think it's hilarious that some people actually think that a major company would move its headquarters somewhere just because a racetrack was being built, and races held! Implausible, laughable, ridiculous, and ludicrous are 4 terms that immediately spring to mind!

[wwmiv]

This comment was inappropriate and I apologize.

[StoOgE]

Originally Posted by Jdawgboy

I really disagree with your statement it is not stupid, why don't you look up the other cities that host F1 races and tell me no companies moved to them since they began hosting. I think you will be hard pressed to find any I will stand by my statement.


By the way I take offense to you using the word stupid, as directed at me. So I would expect you to keep your tone down or change your wording.

Also past articles have stated it is not out of the question that companies will look at Austin now that the track will be here as opposed to before.

Calm down. No one called you stupid. Just the thought that companies are going to move here simply because there is a race is a poorly thought out position.

And you are talking to someone who has watched at least 10-15 F1 races a year for the last 20 years of my life. I get up at 2-6AM most Sundays (to the chargrin of many a past girlfriend) to watch these things. I have a very intimate knowledge of exactly what goes on with F1, go look at my post history when this thing was first announced, I'm not one of the multitude of "experts" that has popped up in Austin in the last 12 months. I can also tell you a good many of the largest races in Europe take place in effectively the middle of nowhere and outside of some hotels popping up, there are no large companies sitting next to Silverstone or Spa.

Here are a list of F1 host cities, of the areas that have experience massive growth I would argue it's because they are world class cities and not because they host an F1 race

Melbourne, Australia
Kuala Lumpur, Malasia
Shanghai, China
Istanbul, Turkey
Barcelona, Spain
Monte Carlo, Monaco
Montreal, Canada
Valencia, Italy
Silverstone, England
Nürburg, Germany
Budapest, Hungary
Spa, Belgium
Monza, Italy
Marina Bay, Singapore
Suzuka, Japan
Yeongam, South Korea
Dehli, India
Abu Dhabi, Abu Dhabi
São Paulo, Brazil

F1 is a chance for Austin to do great things that might lead to these companies. But it isn't a magic bullet that is going to bring them in because they like going to a race.

How many major record labels closed down their LA or New York offices and moved to Austin because of SXSW?

[wwmiv]

Originally Posted by StoOgE

Here are a list of F1 host cities, of the areas that have experience massive growth I would argue it's because they are world class cities and not because they host an F1 race

Melbourne, Australia
Kuala Lumpur, Malasia
Shanghai, China
Istanbul, Turkey
Marina Bay, Singapore
Yeongam, South Korea
Dehli, India
Abu Dhabi, Abu Dhabi
São Paulo, Brazil

Well... I'm not sure I completely agree with this. Of the cities that experienced rapid growth (I've only included those in the quoted text), I'd posit that it was a combination of two factors:

A) immigration magnets.
B) third world with high birth rates.

I'd also posit that F1 races were located in these cities primarily because of their growth or potential for growth. In other words, the growth caused F1, not F1 caused the growth. It was those factors that made these cities world class. The cities omitted from the quote were already world class and have been experiencing slow growth or, even, slight shrinkage because of demographic trends. A corollary to my position is this: the fact that an F1 race is located in them is simply symptomatic of their world class or near world class status, not that F1 caused that status.

[N90]

See being hypocritical about "what can be" is implausible at this point. I realize a lot of you are skeptics but lets wait until the summer of 2013 to say whether or not F1 had any business impacts on Austin at all.

F1 = More tourism. More tourism = more shopping, dining, and lodging construction. More construction = more jobs. More jobs = an expanding economy.

I cant tell you that companies are going to be moving here because of F1, because frankly I just don't know that since we're a year away from it but what I can tell you is that Austin's name recognition if it hosts F1 properly and advertises properly will soar throughout the world. With a large name recognition Austin has the potential to see more private investment from overseas developers, which is just as good if not sometimes better than companies moving their headquarters to Austin. I would actually prefer that happening more, look at Miami which has like 5 F500 companies compared to its peers quadrupling or at the very least tripling that but it receives so much foreign investment for its developments because of its popularity around the world. That would be better for Austin, IMO.

I say that we all leave Jdawg alone, he could be as right as any of us with his hypothesis. By summer of 2013 you'll know what impact F1 will have in Austin's economy or by then at least will know where F1 is taking Austin.