Back from dead, sorta.
https://www.austintexas.gov/edims/document.cfm?id=383631
https://www.bizjournals.com/austin/news/2022/05/20/austin-convention-center-plans.html
[QUOTE]The Austin Convention Center has revealed a proof of concept for the redevelopment of the downtown economic engine that hosts more than 300,000 visitors annually, offering a glimpse into a tremendous undertaking that aims to keep the city competitive with peers across the country.
Members of the convention center’s executive team on May 18presented a preliminary plan for a revamped facility that is expected to generate more than $250 million in additional annual revenue.
Austin Convention Center Department Director Trisha Tatro and Chief Administrative Officer Katy Zamesnik told members of the Austin Tourism Commission the redevelopment is expected to take four years and cost between $1.2 billion and $1.4 billion, funded by the center’s own revenue and the city’s hotel occupancy tax, which was increased in 2019. They told the commission the final price tag could be lower as definitive designs of the new facility do not yet exist.
“We are basing this off of a proof of concept,” Tatro said. “We have included a large amount of contingency that we expect to come down.”
The department estimates that the expansion, as planned, would have a total annual economic impact of $753.8 million, up from its current estimate of $468.8 million. The project is also estimated to create 1,622 jobs, according to its report.
As proposed, the project would be a complete reconstruction of the convention center at its current location at 500 E. Cesar Chavez St., on the east side of downtown. It would actually result in a smaller footprint but grow to 709,000 rentable square feet by building out additional meeting space underground. The center currently offers just over half of that with a total of 376,000 rentable square feet.
This project would be the biggest transformation in the convention center’s 30-year history. It opened in 1992 and was significantly expanded in 2002, roughly doubling in size.
Some city leaders have expressed opposition to the current plan. In April, Austin's Downtown Commission approved a recommendation to City Council to carry out a request for proposals for residential or office spaces for the upper floors of the site, according to the Austin Monitor.
Last year, members of the commission questioned the decision not to pursue the redevelopment as a public-private partnership and place the cost on the private sector.
Under the plan presented by Tatro and Zamesnik, the redevelopment will allow for public-private development opportunities.
The pandemic decimated the national convention business, but activity at Austin's facility is ramping back up as trade shows and corporate celebrations once again hit the road. Austin Convention Center is fielding business inquiries that match pre-pandemic levels, and is operating at about 70% capacity, officials said.
The Austin Convention Center aims to release a request for qualifications for architectural and engineering services followed by a request for proposal for construction services. The contracts would then require approval from City Council before any work could begin.
Preliminary plans for the city-owned facility call for more underground space, growing the convention center's available meeting space from 65,000 square feet to 152,000 square feet. Total exhibition space would grow from 247,000 to 372,000 square feet.
The center’s available ballroom space is planned for expansion from 64,000 to 85,000 square feet. About 100,000 square feet of multipurpose space would be added under the current plan.
The renovation would also establish space for a new train platform as envisioned in Project Connect, the massive expansion of Austin’s transit system that will include new light rail lines, a downtown subway and an expanded bus system.
Photo: The Austin Convention Center Department's proof of concept for redevelopment shows how a new facility could be laid out, with Second and Third streets reopened.
“We are trying to achieve cost savings, which is why we are trying to actualize both projects on a similar timeline,” Zamesnik told the commission. “The project remains financially feasible.”
The expansion would also result in additional green space along the Red River Cultural District and a street-level gallery featuring local artists.
Zamesnik emphasized the project would “include public benefits without public money,” funded by those visiting Austin.
What would a new convention center bring to the table for Austin, its businesses?
Plans to expand the facility on its current site took hold after convention center leaders and nearby property owners hit an impasse in April 2021 on westward expansion. That resulted in a plan to tear down the existing building and start over.
The current size of the convention center has led Austin to lose out on some large events. Backers of the expansion say it would allow the city to continue to host major events like South by Southwest and attract new conventions while facilitating economic growth and improving mobility through the city’s public transportation initiatives.
Plans for the redeveloped convention center would also include reopening Austin’s downtown streets to "multi-modal traffic," according to the department's presentation to the Austin Tourism Commission.
"Our goal is to bring the local community back," Tatro said. "It allows us to reconnect east and west."
Last year, Austin did not appear on a ranking for the top U.S. convention destinations compiled by Secaucus, New Jersey-based Northstar Meetings Group. Houston ranked No. 3 while Dallas was No. 5 and San Antonio was No. 13./QUOTE]
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