AUSTIN | Project Updates Thread Part II

[drummer]

Silly people who want to live downtown....but not really.

[deerhoof]

CBRE expecting something massive on Downtown lot owned by Travis County:

"It will transform it, enhance it and add to it. It's one of the largest developments we've ever seen, should it be completed," said Peter Jansen with CBRE Public Institutions.

"We've sent this out around the world and thousands of people have looked into this opportunity. We're expecting a very intense competition," said Jansen.

http://keyetv.com/news/local/prime-piece-of-downtown-austin-property-up-for-grabs

[AustinGoesVertical]

Originally Posted by deerhoof

CBRE expecting something massive on Downtown lot owned by Travis County:

"It will transform it, enhance it and add to it. It's one of the largest developments we've ever seen, should it be completed," said Peter Jansen with CBRE Public Institutions.

"We've sent this out around the world and thousands of people have looked into this opportunity. We're expecting a very intense competition," said Jansen.

http://keyetv.com/news/local/prime-piece-of-downtown-austin-property-up-for-grabs

Proposals in by early November, a decision by Valentine's Day! This is moving faster than I thought. Key note in the verbiage is "It's one of the largest developments we've ever seen." Without context, that piques a great deal of interest. If it's in the context of Austin, then it being "one of" would put it more on the Waller Park Place level. I'm holding out hope for two point towers with underground parking and a public plaza. Ideally an 800 ft level office tower with a 500-600 ft hotel and residential building diagonal from it.

A signature 1,000 ft tower would be the dream. I imagine something like the Comcast Center in Philly.

[Sigaven]

Originally Posted by The ATX

Community Impact as a short article about the Town Lake Villas project. The Shore HOA is opposing it because of traffic issues. But we all know that is BS because it's always about the views.

https://communityimpact.com/austin/city-...street-district-development-add-density/

"traffic congestion" is the go-to argument to oppose any development! Wonder if these are the same people who voted againt light rail...

[We vs us]

Originally Posted by AustinGoesVertical

Key note in the verbiage is "It's one of the largest developments we've ever seen."

That's weird to me. CBRE MUST see larger opportunities in Austin, no? The Domain comes to mind, or certainly parcels out by the airport or you know, wherever.

If "largest" = "prestigious" or "high profile" then maybe I can understand it. #quibbling

[GoldenBoot]

CBRE is just doing it's job...marketing the property. Don't put too much into their gibberish right now. They say one thing and immediately back down from said statement (as to not go too far out on a limb in suggesting something way out-of-the realm of possibility). Having said that, please do not go expecting a 1000-footer to be constructed on that site. Not even a 900-footer. I'm not saying is not a possibility, but, it's highly unlikely.

There is really nothing to see here at the moment.

Yes, there is a great potential for an iconic development. However, with construction financing becoming increasingly difficult to obtain, it will be very interesting to see what actually might go vertical on this site. At the earliest, we may possibly see something more finite in 2018/2019 - with construction commencing (possibly) in 2019/2020.

We shall see...

[We vs us]

Originally Posted by GoldenBoot

CBRE is just doing it's job...marketing the property. Don't put too much into their gibberish right now. They say one thing and immediately back down from said statement (as to not go too far out on a limb in suggesting something way out-of-the realm of possibility). Having said that, please do not go expecting a 1000-footer to be constructed on that site. Not even a 900-footer. I'm not saying is not a possibility, but, it's highly unlikely.

There is really nothing to see here at the moment.

Yes, there is a great potential for an iconic development. However, with construction financing becoming increasingly difficult to obtain, it will be very interesting to see what actually might go vertical on this site. At the earliest, we may possibly see something more finite in 2018/2019 - with construction commencing (possibly) in 2019/2020.

We shall see...

Agreed . . . I'm a sales and marketing guy, so definitely recognize the suggestive selling, but think the suggestiveness is interesting. It went down an avenue I wouldn't have expected.

[lzppjb]

Might get to see some of that Asian money develop something huge.

[The ATX]

Once again Community Impact proves itself to be the best local source for key development updates. And once again Austin City Council punts.

10/13 for Town Lake Villas:
https://communityimpact.com/austin/city-...street-district-development-add-density/

10/20 for the Grove:
https://communityimpact.com/austin/centr...controversial-development-near-rosedale/

[LoneStarMike]

I saw this on the Planning Commission's page:

http://www.austintexas.gov/edims/document.cfm?id=262587

It's just a zoning change review sheet, but it's for the SE corner of Lamar & Koenig on land owned by the TXDOT across Koenig from the DPS.

The applicant proposes to have a mixture of ground floor commercial uses and multifamily units above. North Lamar Boulevard is a core-transit corridor where vertical mixed use development is intended.

[SNIP]

The North Loop Neighborhood Plan recommends mixed use development throughout the planning area and specifically references N. Lamar Blvd and Koenig Lane as a location where it is desired. The ability to also include affordable housing in return for a density bonus was also a consideration for
the staff recommendation.

[SNIP]

This zoning case is located on the southeast corner of N. Lamar Blvd and W. Koenig Lane, on a 3.7 acre vacant tract of land owned by TXDOT, which is located in the North Loop Neighborhood Planning Area. Surrounding land uses includes the Texas Department of Public Safety to the north and east, and retail and commercial uses to the south and west. The proposed use is a vertical mixed use project, with 331 units of residential housing and 30,000 sq. feet of ground floor retail.

Connectivity

The Walkscore for this site is 80/100, meaning most errands can be accomplished on foot and public transportation is located within walking distance to this property. There are public sidewalks located in this area but this busy intersection with wide arterial streets makes this a
problematic place to walk.

North Loop Neighborhood Planning Area (NLNPA)

The NLNP Future Land Use Map Designates (FLUM) this portion of the planning area as ‘Mixed Use’ and Zone CS-V is permitted under this future land use designation. The NLNPA FLUM specifically calls out the northwest corner of this planning area, which includes this site, as a Neighborhood
Urban Center Special Use

[jbssfelix]

Originally Posted by LoneStarMike

I saw this on the Planning Commission's page:

http://www.austintexas.gov/edims/document.cfm?id=262587

It's just a zoning change review sheet, but it's for the SE corner of Lamar & Koenig on land owned by the TXDOT across Koenig from the DPS.

Yes, I believe a key takeaway from this is that the state is applying for zoning ahead of time on this project, vs selling it unzoned as in the drama that is currently The Grove at Shoal Creek.

[Urbannizer]

Westview

316 W. 12th Street will undergo renovations. Rooftop terrace and a restaurant will be new additions to the ~100,000 sq ft building.









Current look:

[The ATX]

That's a nice improvement. That location was one of the six CVC filings I posted a few pages back. Now we know what project that was for.

[Novacek]

Originally Posted by jbssfelix

Yes, I believe a key takeaway from this is that the state is applying for zoning ahead of time on this project, vs selling it unzoned as in the drama that is currently The Grove at Shoal Creek.

It's possible that the state is trying to save Austin from a later headache.

I think it's more likely though that in this case, having VMU zoning ahead of time increases the potential price (and gain for the state), while in the case of the Grove having traditional zoning might have depressed the price.

[AusTxDevelopment]

Lead Commercial is marketing the Carmelo's land site for sale for potential redevelopment. 504 East 5th Street. The below image was taken from their marketing flyer. It's really just an enhanced massing to show what is possible on the site.



Existing Carmelo's: https://www.google.com/maps/place/504+e+...4m2!3m1!1s0x0:0x139baa70212b140f!6m1!1e1

[We vs us]

Originally Posted by AusTxDevelopment

Lead Commercial is marketing the Carmelo's land site for sale for potential redevelopment. 504 East 5th Street. The below image was taken from their marketing flyer. It's really just an enhanced massing to show what is possible on the site.



Existing Carmelo's: https://www.google.com/maps/place/504+e+...4m2!3m1!1s0x0:0x139baa70212b140f!6m1!1e1

Wow. Does all of Carmelo's go away in this scenario, or just the parking lot? For some reason I'm remember that only the parking lot was being checked for a CVC.

[AusTxDevelopment]

Originally Posted by We vs us

Wow. Does all of Carmelo's go away in this scenario, or just the parking lot? For some reason I'm remember that only the parking lot was being checked for a CVC.

From the flyer it appears just the parking lot. And there is a CVC running across the corner so that's why the massing shows a wedge cutout. It also appears that Carmelo's restaurant is 100% in the CVC so nothing tall can replace it.

[wwmiv]

Anything tall built here would partially obstruct views of the Hilton on the I-35 northside approach into downtown. That would be a HUGE deal visually. Unfortunately, because of where the CVCs are in this part of town, whatever ends up being built here would be the maximum extent of coverage of the Hilton from the north approach. Furthermore, it is sadly impossible to block visual of the Hilton from the east.

https://www.google.com/maps/d/viewer?mid=1OmWNgmriRu9gDHuwrrVaRxb03W8&hl=en_US

[The ATX]

The CVC determination is complete. This is from the determination and shows how a CVC affects the site leading to the angled rendering:


https://www.austintexas.gov/devreview/b_showpublicpermitfolderdetails.jsp?FolderRSN=11578922

[The ATX]

Here's the link to the 21 page flyer:

https://res.cloudinary.com/cslistings/im...x.xceligent.com/Attachments/282/11486282