Austin | Wilson Tower (410 E. 5th) | 519 Feet | 44 Floors | On Hold

[ahealy]

Originally Posted by austlar1

Given all the tech layoffs and possible looming recession, you might have quite a wait. I know. I know. I've been wrong before, but I just have a feeling.

I know. I try not to even think about Waterline shrinking to a 600 footer lmao

[urbancore]

Originally Posted by ahealy

I know. I try not to even think about Waterline shrinking to a 600 footer lmao

Serious question, have we ever had, or is it common to make drastic changes to a skyscraper's height while under construction?

I bet the underwriters wouldn't like that too much, as they have already signed off on the budget and the $ has been promised by the banks (they would be in default if they didn't fund their portion) I know anything can happen, it just seems to me like it would be a disaster.

Also, as I recall, the Austonian caught a LOT of flack for breaking ground in the middle of the '08 recession ('09 if memory serves), and by the time they were ready for units to close we were emerging from the recession and it was a success. I thought they looked pretty smart, and defended their decision to start. Some I argued with said that the building would sit vacant for a decade, and that the light bill wouldn't be paid...so it would stand as this dark beacon of hubris.

I believe that Austin will again, ride this turbulent time, better than most. I also, think the recession won't be as bad as we've seen in the past ('88, '99, '08 come to mind) and by this time next year...Austin will return to 3%+ job growth, which as we all know drives all real estate markets.

By the time the Wilson and Waterline are completed, this weird time will be in our rear view. Maybe we will be looking at another looming...after all that will be about 3.5 years from now.

[The ATX]

Originally Posted by urbancore

Serious question, have we ever had, or is it common to make drastic changes to a skyscraper's height while under construction?

The W was U/C during when the Great Recession started, and one of the three equity/financial partners went bankrupt. There were rumors that the project would be reduced in height, but the project found more financing.

[loonytoony]

Originally Posted by urbancore

Serious question, have we ever had, or is it common to make drastic changes to a skyscraper's height while under construction?

I bet the underwriters wouldn't like that too much, as they have already signed off on the budget and the $ has been promised by the banks (they would be in default if they didn't fund their portion) I know anything can happen, it just seems to me like it would be a disaster.

Also, as I recall, the Austonian caught a LOT of flack for breaking ground in the middle of the '08 recession ('09 if memory serves), and by the time they were ready for units to close we were emerging from the recession and it was a success. I thought they looked pretty smart, and defended their decision to start. Some I argued with said that the building would sit vacant for a decade, and that the light bill wouldn't be paid...so it would stand as this dark beacon of hubris.

I believe that Austin will again, ride this turbulent time, better than most. I also, think the recession won't be as bad as we've seen in the past ('88, '99, '08 come to mind) and by this time next year...Austin will return to 3%+ job growth, which as we all know drives all real estate markets.

By the time the Wilson and Waterline are completed, this weird time will be in our rear view. Maybe we will be looking at another looming...after all that will be about 3.5 years from now.

We've had projects outright scrapped, but none that were scaled down to my knowledge.

[austlar1]

Originally Posted by loonytoony

We've had projects outright scrapped, but none that were scaled down to my knowledge.

Speaking of scrubbed projects, there was most famously the Intel Building. Construction on that building was halted mid-way, and the erected portion was later demolished to make way for the new Federal Building. For a year or two, in great Keep Austin Weird fashion, some kind of aerial acrobatic troupe performed live acts on the unfinished shell.
https://www.bluelapislight.org/history
https://www.austinchronicle.com/news/2007-02-23/449480/

[loonytoony]

Originally Posted by austlar1

Speaking of scrubbed projects, there was most famously the Intel Building. Construction on that building was halted mid-way, and the erected portion was later demolished to make way for the new Federal Building. For a year or two, in great Keep Austin Weird fashion, some kind of aerial acrobatic troupe performed live acts on the unfinished shell.
https://www.bluelapislight.org/history
https://www.austinchronicle.com/news/2007-02-23/449480/

I went to a few of those shows. They were fun! Similar to Cirque de Soleil but on the side of a building.

[bobbywest87]

Originally Posted by ahealy

I know. I try not to even think about Waterline shrinking to a 600 footer lmao

Don’t speak of such evils.

[ahealy]

Originally Posted by bobbywest87

Don’t speak of such evils.

We gotta say it, talk it out and make sure it never happens

[urbancore]

Originally Posted by loonytoony

I went to a few of those shows. They were fun! Similar to Cirque de Soleil but on the side of a building.

My wife and I saw one of the shows as well. Very cool.

Do you recall who put on the show, was it a local dance/performance company?

I'm always reinvigorated when something positive comes from a negative situation. Makes not worry so much about the kids. Plenty to be negative about, but plenty to be excited for too.

Especially the Wilson!

[loonytoony]

Originally Posted by urbancore

My wife and I saw one of the shows as well. Very cool.

Do you recall who put on the show, was it a local dance/performance company?

I'm always reinvigorated when something positive comes from a negative situation. Makes not worry so much about the kids. Plenty to be negative about, but plenty to be excited for too.

Especially the Wilson!

Blue Lapis! They're still around too.

https://www.bluelapislight.org/

[StoOgE]

Yeah - I saw them at the power plant randomly one night having a nightcap at Boiler9 (RIP)

[Mopacs]

Wilson Capital's 80-story skyscraper plan hits snag

https://www.bizjournals.com/austin/n...hits-snag.html

A developer’s plan to build an apartment tower rising 1,035 feet above downtown Austin has hit a minor snag: it failed to gain approval from the city's Design Commission during a recent review...

[StoOgE]

Sounds like the large plaza is going to need to have some kind of public use. The issue seems to be 100% with public benefit - i.e. not enough retail and too much hardscape that doesn't benefit the public.

I want towers built but I am 100% ok with this sort of pushback - it helps us keep a more vibrant activated downtown.

[The ATX]

The issues brought up by the DC are all easy to fix, and the density bonus will be approved at the next meeting. This was a typical 1st DC meeting for a project. No worries despite the ABJ headline.

[Armybrat]

Originally Posted by urbancore

Serious question, have we ever had, or is it common to make drastic changes to a skyscraper's height while under construction?

I bet the underwriters wouldn't like that too much, as they have already signed off on the budget and the $ has been promised by the banks (they would be in default if they didn't fund their portion) I know anything can happen, it just seems to me like it would be a disaster.

Also, as I recall, the Austonian caught a LOT of flack for breaking ground in the middle of the '08 recession ('09 if memory serves), and by the time they were ready for units to close we were emerging from the recession and it was a success. I thought they looked pretty smart, and defended their decision to start. Some I argued with said that the building would sit vacant for a decade, and that the light bill wouldn't be paid...so it would stand as this dark beacon of hubris.

I believe that Austin will again, ride this turbulent time, better than most. I also, think the recession won't be as bad as we've seen in the past ('88, '99, '08 come to mind) and by this time next year...Austin will return to 3%+ job growth, which as we all know drives all real estate markets.

By the time the Wilson and Waterline are completed, this weird time will be in our rear view. Maybe we will be looking at another looming...after all that will be about 3.5 years from now.

The Harmon Tower in Las Vegas was designed as a 49 story building, but the steel contractor screwed up some rebar during construction.
As a result, It topped out at only 28 floors, was never occupied, and eventually demolished:

https://en.wikipedia.org/wiki/The_Harmon

[obemearg]

Originally Posted by Armybrat

The Harmon Tower in Las Vegas was designed as a 49 story building, but the steel contractor screwed up some rebar during construction.
As a result, It topped out at only 28 floors, was never occupied, and eventually demolished:

https://en.wikipedia.org/wiki/The_Harmon

Another cool example is the Metropolitan Life North Building in New York which was intended to rise around 1300ft but the design was modified to only rise to 451 ft.

https://www.archdaily.com/975817/wha...ve-looked-like

https://en.wikipedia.org/wiki/Metrop...North_Building

[resansom]

ABJ article says that the building failed to gain approval from the Design Commission:

https://www.bizjournals.com/austin/n...hits-snag.html

[ILUVSAT]

Originally Posted by resansom

ABJ article says that the building failed to gain approval from the Design Commission:

https://www.bizjournals.com/austin/n...hits-snag.html

This subject has been discussed in the five previous posts...Doesn't seem to be a big problem. As ATX said, this is not an unusual outcome from an initial DC meeting (especially for a project of this size).

[drummer]

Originally Posted by resansom

ABJ article says that the building failed to gain approval from the Design Commission:

https://www.bizjournals.com/austin/n...hits-snag.html

It just talked about the public benefit/interaction at the street-level being the issue, right? Read it but I've slept since yesterday.

[Green Country]

Originally Posted by obemearg

Another cool example is the Metropolitan Life North Building in New York which was intended to rise around 1300ft but the design was modified to only rise to 451 ft.

https://www.archdaily.com/975817/wha...ve-looked-like

https://en.wikipedia.org/wiki/Metrop...North_Building

Another example is the 17-story building in Tulsa now known as Oneok Plaza. It was originally planned by Cities Service Oil Company to be 52 stories; not longer after construction began they scaled it back 37 stories. When it reached 16 stories, they halted construction. A year later, after being sold to Oneok, construction resumed, but topped out at 17 stories.