AUSTIN | Project Updates Thread Part II

[drummer]

I tend to agree with wwmiv on this one. Lots of surface lots that are available, but it's not my money.

What year was that one in the photo built?

[KevinFromTexas]

Originally Posted by drummer

i tend to agree with wwmiv on this one. Lots of surface lots that are available, but it's not my money.

What year was that one in the photo built?

2004.

[The ATX]

Here's what I have for Austin's tallest buildings that are completed or topped out and are at least 300'. We need a couple of taller buildings (The Repub & 6XG should take care of that.), but we are getting quite a bit of depth in the 300'-500' range.

[Sigaven]

Originally Posted by wwmiv

No. Go for parking lots first. These complexes contain more density than a high rise will. Unit count will be lower because the prince point will be higher.

I agree with you on parking lots but I'd be glad to see this ugly faux historicist building go. If it was well-done architecturally I'd have different feelings. But it's ugly suburban — in the middle of downtown - get rid of it!

[NYC2ATX]

Originally Posted by The ATX

There is a CVC on most of the block. But if this was going to be replaced with a tower, a point tower could be built roughly where the parking garage is.

Originally Posted by ATXboom

That is really prime residential real estate. That development and the 2nd street 4 story buildings grossly undershot. Gotta imagine we aren't too far off from those 2nd street buildings getting demolished for something legit.

The correlation between these two examples is interesting. If I'm not mistaken, the Silicon Labs buildings on 2nd Street were designed in such a way that more new residential or office space could be built in the future on top of the north halves of both blocks, which are actually very cleverly obscured parking structures with ground-level retail.

I personally find shorter apartment structures like these to bring a balance of different scales and street-level experiences to a downtown like Austin's; something that you lose with wall-to-wall towers. However, I would eagerly welcome some construction on top of these standalone parking structures. Bring 'em on.

[drummer]

Originally Posted by KevinFromTexas

2004.

Wow. So, if it is demolished for a new tower in the next 1-3 years, would that be any sort of record for shortest existence downtown for a building? Less than 20 years.

[MichaelB]

Originally Posted by Sigaven

I agree with you on parking lots but I'd be glad to see this ugly faux historicist building go. If it was well-done architecturally I'd have different feelings. But it's ugly suburban — in the middle of downtown - get rid of it!

[Sigaven]

Originally Posted by NYC2ATX

The correlation between these two examples is interesting. If I'm not mistaken, the Silicon Labs buildings on 2nd Street were designed in such a way that more new residential or office space could be built in the future on top of the north halves of both blocks, which are actually very cleverly obscured parking structures with ground-level retail.

Interesting! I'd rather see those buildings stay because they are quite nice looking and high quality. If it's true that more can be built on top, even better!!

[deerhoof]

Originally Posted by The ATX

A CVC determination was filed today for 404 Rio Grande. That's this apartment building. There is a CVC on most of the block. But if this was going to be replaced with a tower, a point tower could be built roughly where the parking garage is. The permit is being billed to the Phoenix Property Company which was Lincoln's partner on the Republic tower when it had a residential component planned.

CVC:
https://abc.austintexas.gov/web/permit/p...=12041587&t_selected_propertyrsn=3047206

You can see a big reason why a developer may want this site despite the challenges. The spot where a tower would rise looks directly down Shoal Creek toward Town Lake which means the views would be preserved indefinitely in that direction. Also, the tower would be a very similar size to 5th & west which is in the upper left hand cover of this photo.

[We vs us]

Holds true to my Railyard Condo Theorem — any currently developed low rise block in the CBD is a target for tower development. We’re to the point where it’s open season on even fully occupied 4-5 story buildings.

[AusTxDevelopment]

Nate Paul scores more on Cesar Chavez with some green and maybe luck from the Irish

https://atxrealestatenews.com/2018/10/01...ome-green-and-maybe-luck-from-the-irish/

Real estate phenom Nate Paul has now secured three corners of one of the most heavily traveled intersections in Texas — I-35 and East Cesar Chavez Street.

In the past several months Paul’s company, World Class Capital Group, has purchased several lots in the area — a geographic tether that dates back to WCC’s acquisition of the IHOP property in 2016.

[deerhoof]

Does this guy buy property in other cities, states, or countries? Seems like he isn't very diversified if all he buys is downtown Austin property, but I could be uninformed on many of his other purchases.

Originally Posted by AusTxDevelopment

Nate Paul scores more on Cesar Chavez with some green and maybe luck from the Irish

https://atxrealestatenews.com/2018/10/01...ome-green-and-maybe-luck-from-the-irish/

[AusTxDevelopment]

Originally Posted by deerhoof

Does this guy buy property in other cities, states, or countries? Seems like he isn't very diversified if all he buys is downtown Austin property, but I could be uninformed on many of his other purchases.

He buys property but never develops anything. He allegedly had a multi-million dollar luxury hotel deal in NYC fall out, but other than storage facilities, he's all talk when it comes to development. World Class Capital does own storage facilities in 11 states: https://www.world-class.com/great-value-storage/

[We vs us]

Hidden lede in that article: he bought the Carmello's site, too.

[The ATX]

Originally Posted by We vs us

Hidden lede in that article: he bought the Carmello's site, too.

Well, we can now say the "Depot Hotel" project with the nice Rhode Partners visionary rendering won't be built. Sutton at least flips land to developers who can build stuff. WCC just holds on to it.

[GoldenBoot]

As much as we would like to see Nate actually develop a tower on one of his sites...it's more than likely not going to happen (as we already know - he's not a developer of towers). However, I will say he knows what he's doing. His net worth is now north of $800 million and I don't think he's quite 40 yet.

[sammyk]

Originally Posted by GoldenBoot

As much as we would like to see Nate actually develop a tower on one of his sites...it's more than likely not going to happen (as we already know - he's not a developer of towers). However, I will say he knows what he's doing. His net worth is now north of $800 million and I don't think he's quite 40 yet.

He's barely over 30.

[We vs us]

Originally Posted by The ATX

Well, we can now say the "Depot Hotel" project with the nice Rhode Partners visionary rendering won't be built. Sutton at least flips land to developers who can build stuff. WCC just holds on to it.

Such a shame. Carmello’s could have such a cool adaptive reuse thing going on.

[GoldenBoot]

Originally Posted by sammyk

He's barely over 30.

Yep. You're absolutely correct. He'll be 32 this coming February. Wow.

[We vs us]

It just occurred to me that by middle of 2019 -- say June -- we'll have seven active construction sites for major DT towers.

Marriott
Block 71
5th and Brazos
Alexan
6x
Republic Sq
Block 35
91 Red River

It seems pretty feasible that all of those will be underway within the next 9 mos.

I'm such a weirdo. Like Scrooge McDuck swimming around on a huge golden pile of skyscrapers.