AUSTIN | Waterline | 1,034 Feet | 73 Floors | T/O - Page 32

GoldenBoot · #**621** Posted **Apr 9, 2016, 6:35 PM**

Insert cricket noise here...

The ATX · #**622** Posted **Apr 9, 2016, 9:23 PM**

Quote:

Originally Posted by GoldenBoot

Insert cricket noise here...

I think the demo noise scared off the crickets. But they are in the process of moving back in right now.

Jdawgboy · #**623** Posted **Apr 19, 2016, 7:44 PM**

This one is just driving me nuts. No official word on when, if anything is going to happen.

Just clear the land and let it sit for a few years...

OKTX · #**624** Posted **Apr 19, 2016, 8:07 PM**

I spoke with a prominent local developer last week and asked him about this project and Zaza. For Waller, he said they don't have all of the financing and it's looking more and more likely that this would happen next cycle unless a new equity partner steps up to the plate. There has been significant tightening in credit markets across the US, so getting a complete cap stack is getting tougher. Hope I'm wrong...

GoldenBoot · #**625** Posted **Apr 19, 2016, 8:12 PM**

Quote:

Originally Posted by Jdawgboy

This one is just driving me nuts. No official word on when, if anything is going to happen.

Just clear the land and let it sit for a few years...

Yes. Exactly. The land is now, actually more valuable than it was with the buildings on it (especially with an approved site plan for ~1.4 million SF of space).

Save yourself from a coronary and move on from this project. This one may very well be Tom Stacy - Mark 2.

If Sutton does build something on this site, it will more than likely not resemble what is currently proposed. Remember, he kept slightly downsizing it with every news or rendering release. Initially, the largest tower was going to approach 60 stories.

austlar1 · #**626** Posted **May 13, 2016, 10:28 PM**

For what it might be worth, Wikipedia is now referring to 360 10th Ave, McCourt Globals much vaunted $3billion NYC project, in the past tense. According to the Wiki post, "360 Tenth Avenue is an unbuilt skyscraper in the Hell's Kitchen neighborhood of Manhattan in New York City. It would have been 772 ft (235 m) tall and have 61 floors." I can't find any post 1914 posts on this project with a Google search. I think we can just hang it up with the Waller Creek project. Seems like the site along the creek is hexed. All the projects announced for that spot never get built.

JoninATX · #**627** Posted **May 13, 2016, 10:36 PM**

Oh I mean't to tell u guys, that the Waller site is now a bmx park. Do to the fact that everytime I drive by, bikers are doing tricks off the concrete slabs.

drummer · #**628** Posted **May 14, 2016, 1:22 AM**

^ At least it's being used for something.

JoninATX · #**629** Posted **May 14, 2016, 7:27 PM**

Quote:

Originally Posted by drummer

^ At least it's being used for something.

Right!

Spaceman · #**630** Posted **May 15, 2016, 3:01 AM**

Quote:

Originally Posted by austlar1

For what it might be worth, Wikipedia is now referring to 360 10th Ave, McCourt Globals much vaunted $3billion NYC project, in the past tense. According to the Wiki post, "360 Tenth Avenue is an unbuilt skyscraper in the Hell's Kitchen neighborhood of Manhattan in New York City. It would have been 772 ft (235 m) tall and have 61 floors." I can't find any post 1914 posts on this project with a Google search. I think we can just hang it up with the Waller Creek project. Seems like the site along the creek is hexed. All the projects announced for that spot never get built.

The Waller Creek "River Walk-Tunnel" has been jinxed since day one..Now this McCourt project is DOA..Even that old abandoned house south of Moonshine sits unused for years..Maybe ghosts that occupy that old house are putting the Gris Gris on that area..WTF is going on??

urbancore · #**631** Posted **Jun 22, 2016, 4:58 PM**

rumor is that Sutton just got the Villas on TL under contract $50mish

Jdawgboy · #**632** Posted **Jun 22, 2016, 5:27 PM**

So I guess that means they will demolish the villas and have that whole section of DT either cement slabs or parking lots. The segment of the Waller Creek Walk between CC and the river is going to look horrible.

JAM · #**633** Posted **Jun 22, 2016, 5:45 PM**

Quote:

Originally Posted by Dcbrickley

rumor is that Sutton just got the Villas on TL under contract $50mish

58 units, that avgerages 862k per unit. Not a bad deal for owners if true. Can't imagine someone paying that much and turning it into a parking lot.

Jdawgboy · #**634** Posted **Jun 22, 2016, 5:57 PM**

Quote:

Originally Posted by JAM

58 units, that avgerages 862k per unit. Not a bad deal for owners if true. Can't imagine someone paying that much and turning it into a parking lot.

I hope your right. They could leave as is for now but at least from how I see it, Sutton is more about land grabbing than it is about development. They may be designing some sort of massive multiblock "development" plan and maybe some flashy renderings but it's probably simply to show other potential developers what could be developed.

I think we can all agree that Waller Park Place as originally proposed is dead and maybe it's a good thing in the long run because something much more grand could be on the distant horizon but I agree with Goldenboot, we aren't going to see anything happen this cycle and depending on what the global market will be like in a year or two years from now, we may not see much of anything built for several years.

OKTX · #**635** Posted **Jun 22, 2016, 7:28 PM**

Actually, it looks like this one has momentum. Hotel/Condo's planned to break ground EOY'16 and multi sometime next year.

https://www.bisnow.com/austin-san-an...61686?rt=20046

lzppjb · #**636** Posted **Jun 22, 2016, 8:07 PM**

Is that picture of the 3 WPP towers + a new Villas tower?

AusTxDevelopment · #**637** Posted **Jun 22, 2016, 8:12 PM**

Quote:

Originally Posted by OKTX

Actually, it looks like this one has momentum. Hotel/Condo's planned to break ground EOY'16 and multi sometime next year.

https://www.bisnow.com/austin-san-an...61686?rt=20046

EOY 16 is only 5-6 months away. According to that article they don't have permits or a hotel brand signed up yet, although he says he's close on the hotel. It takes about 9 months to get a permit through the city for something this large. Under-construction by the end of 2017 is doable if he's got everything teed up and ready to go, including construction loans, contractors, permits, hotel brand buy-in, etc. Sutton Co. is not know for being incredibly proactive. I'm guessing he's being optimistic about the start dates because he's speaking at the Bisnow Multifamily Conference. He still has a window to pull this off so I wouldn't count him out. I'm not entirely optimistic that it will happen this development cycle, however. [In both of these quotes, the emphasis is mine.]

Quote:

Likewise, he’s already nearly finalized the flags for the Waller Park Place hotel project, and says that market is strong.

Quote:

Mac hopes to be under construction on the multifamily/office building by the end of 2017; he tells us his team will start the permit process almost immediately.

Edited to add the picture from that article:

lzppjb · #**638** Posted **Jun 22, 2016, 8:17 PM**

The way I read it is WPP by EOY 2016, or early 2017. This new tower @ the Villas by EOY 2017.

We vs us · #**639** Posted **Jun 22, 2016, 8:52 PM**

So does this mean the development now has 4 towers? The original 3 + the one for the Villas?

austlar1 · #**640** Posted **Jun 22, 2016, 9:11 PM**

I think it means that Sutton got their hands on some more land. Everything else is just hot air, including the wishful thinking coming out of Mac's mouth. He has been promising start dates on this project for about three years now, and nothing ever comes of it. I think JDawgboy pretty much nailed it in his post earlier today. It is interesting that there now seems to be no mention of McCourt Global in this (or other recent) press releases. Does that mean that McCourt's allegedly very deep pockets are no longer involved in this deal?