AUSTIN | Project Updates Thread Part II

[austintilIdie]

Screw the Post Office block,. This should be the signature tower site we have been envisioning. Observation deck yes please.

[StoOgE]

If you had told anyone a decade ago that Republic square may wind up being the "heart" of downtown they would have laughed at you. But the 2nd street district and Greenwater redevelopment have really pulled downtown.

This area while still not developed at all is destined to be the area that unites the traditional downtown footprint aligned on Congress) with the new areas on the West side.

If we can get some of these guys off the ground this year (Republic, 6x) it'll be the start of something really special and a hell of a far cry from the days of the abandoned Intel shell.

[AusTxDevelopment]

Originally Posted by The ATX

The Hobby building may be up for sale. It's 1.75 acre block with no CVCs.

https://www.statesman.com/news/20190328/...hobby-state-office-building-hot-property

These are some pictures from that Statesman story. Yikes.

[urbancore]

Hell yeah!

[East7thStreet]

Curious as to the value of this lot?

With the half block at 5th and Brazos rumored to be going for ~50 million would that make the Hobby block worth ~$100 million (minus demo costs).

And what would be the demo costs of a building this size....there is underground parking which would make it more difficult I'm guessing.....

[Jdawgboy]

A friend of mine works in the Hobby building and she had told me some crazy things about how bad that building is.

I will say I do like the dark maroon portion of the building mainly because there is no other building in DT with that color facade. Would like to see that color in another new tower since they will be tearing it down.

[Billy Cannon]

Originally Posted by East7thStreet

Curious as to the value of this lot?

With the half block at 5th and Brazos rumored to be going for ~50 million would that make the Hobby block worth ~$100 million (minus demo costs).

And what would be the demo costs of a building this size....there is underground parking which would make it more difficult I'm guessing.....

I can’t answer any of your price questions but I say that Oscar Orduno and DPR succsufully imploded block 71 and that block had a talller building and a larger below grade garage. That being said demoing the hobby and garage should be feasible physically and financially, if somebody is willing to foot the bill.

[the Genral]

Originally Posted by AusTxDevelopment

These are some pictures from that Statesman story. Yikes.

This is the kind of deterioration you see in abandoned buildings. Someone should be held responsible for making these poor people work in that environment. It has to affect their own quality of work. This is not only sad, but disgraceful and degrading. They should relocated everyone immediately and blow the place up. And they should let all the workers there collectively push the button. 🞵🞵🞵🞵, looks like they couldn't even afford duct tape.

[lzppjb]

My cousin has worked there the last 2 years. She is saying that it's really not that bad. That the Statesman found the really bad spots to highlight, but that it's not as bad overall.

But obviously the State feels otherwise.

[the Genral]

Originally Posted by lzppjb

My cousin has worked there the last 2 years. She is saying that it's really not that bad. That the Statesman found the really bad spots to highlight, but that it's not as bad overall.

But obviously the State feels otherwise.

Well 🞵🞵🞵🞵, that just shot my rant to pieces.

[lzppjb]

Originally Posted by the Genral

Well 🞵🞵🞵🞵, that just shot my rant to pieces.

Maybe she's blind.

[KevinFromTexas]

This grabbed my attention. KXAN reported along with that convention center report that there is a $1 billion condo project planned for Rainey Street.

https://www.kxan.com/news/local/austin/2...izClpUJbOLpIMkcChC4mZmRwLO-f6TOLl6ElQVyE

Additionally, several new condos are coming to Rainey Street, one project is even budgeted at $1 billion!

That has to be for the Waller Park Place/WeWork site. This article from July of 2018 said then that it was a billion dollar project:

https://www.bizjournals.com/austin/news/...eks-partners-for-1-billion-downtown.html

Developer seeks partners for $1 billion downtown project near Rainey Street, Austin Convention Center

[KevinFromTexas]

https://www.bizjournals.com/austin/news/...-pinnacle-tower-in-southwest-austin.html

ACC may sell Pinnacle tower in Southwest Austin

The Austin Community College District will try to sell part of its campus property in Southwest Austin.

The ACC Board of Trustees voted April 1 to declare its Pinnacle Campus building — which has become somewhat of a high-rise icon in low-rise Southwest Austin — as surplus property and authorize posting the nine-acre tract for sale. The college closed the building at 7748 U.S. Highway 290 West last May to evaluate repairs and long-term plans.

The 108,000-square-foot structure was built in 1984 as a standard office building — and the college thinks that may be a better use moving forward.

[paul78701]

Originally Posted by lzppjb

My cousin has worked there the last 2 years. She is saying that it's really not that bad. That the Statesman found the really bad spots to highlight, but that it's not as bad overall.

But obviously the State feels otherwise.

It may seem that way to her visually. I'm also sure that the reporters looked for the worst photo visuals to drive home the point. However, the laymen observer/reporter might not see the deeper issues. I know I probably wouldn't. The staff that maintains the building surely has more in depth knowledge of the problems "inside the walls"...so to speak.

[NYC2ATX]

Originally Posted by KevinFromTexas

https://www.bizjournals.com/austin/news/...-pinnacle-tower-in-southwest-austin.html

Oh man! AND right on the heels of moves being made to rebuild the 290/71 wye. This property will be PRIME for development

[austin242]

I actually find this to be sad. ACC will soon have 0 full fledged campuses in south Austin when Riverside starts renovations (south Austin campus is not big enough to be a real campus). North Austin has 4 when Rio Grande opens back up. ACC really needs to build a new campus in south Austin somewhere.

[lzppjb]

I did a couple searches here and on the permit site. Couldn't find anything.

What's the story on 1836 San Jacinto?

https://www.stgdesign.com/1836-san-jacinto

EDIT: Found it. https://austin.towers.net/mixed-use-offi...ard-at-employees-retirement-system-site/

[KevinFromTexas]

Originally Posted by lzppjb

I did a couple searches here and on the permit site. Couldn't find anything.

What's the story on 1836 San Jacinto?

https://www.stgdesign.com/1836-san-jacinto

EDIT: Found it. https://austin.towers.net/mixed-use-offi...ard-at-employees-retirement-system-site/

There was also a document I found saying it would be 132 feet with 9 floors, so technically a high rise, albeit a short one.

[The ATX]

Originally Posted by lzppjb

I did a couple searches here and on the permit site. Couldn't find anything.

What's the story on 1836 San Jacinto?

https://www.stgdesign.com/1836-san-jacinto

EDIT: Found it. https://austin.towers.net/mixed-use-offi...ard-at-employees-retirement-system-site/

FYI...
Posts about that project are in the Capitol Complex thread since it's next to 1801 Congress.

[lzppjb]

From a poster over on surly:

Met with a major developer of Austin downtown. Said office space rents are out of control and multiple buildings that he hasn't even broken ground are already filled from technology companies coming from the Bay.