Domain/North Austin Development Updates

[Novacek]

Originally Posted by H2O

Just in time for the start of a new MLS season, so they will probably have to wait almost a year to actually break ground. Thanks City of Austin!

What’s your complaint?

Are you assuming construction can’t occur during the season? Arena tower (before the pause) had no problem doing so.

[H2O]

Originally Posted by Novacek

What’s your complaint?

Are you assuming construction can’t occur during the season? Arena tower (before the pause) had no problem doing so.

I could be wrong, but I wouldn't expect them to start during the season so they can continue to use the site for parking. Obviously they can't build the project entirely in one off-season (or maybe even two or three, including the seasons in between) but I would think they would want to start the season with some certainty over parking utilization and not change mid-season. On the other hand, I am also anticipating they will want to start on the north building seating expansion in the stadium soon, and they definitely will want to schedule that in the off-season.

[paul78701]

Originally Posted by H2O

I could be wrong, but I wouldn't expect them to start during the season so they can continue to use the site for parking. Obviously they can't build the project entirely in one off-season (or maybe even two or three, including the seasons in between) but I would think they would want to start the season with some certainty over parking utilization and not change mid-season. On the other hand, I am also anticipating they will want to start on the north building seating expansion in the stadium soon, and they definitely will want to schedule that in the off-season.

I don't believe the developer of this project is associated with the team/stadium at all. So I doubt any parking concerns will be a factor.

[IluvATX]

Originally Posted by H2O

I could be wrong, but I wouldn't expect them to start during the season so they can continue to use the site for parking. Obviously they can't build the project entirely in one off-season (or maybe even two or three, including the seasons in between) but I would think they would want to start the season with some certainty over parking utilization and not change mid-season. On the other hand, I am also anticipating they will want to start on the north building seating expansion in the stadium soon, and they definitely will want to schedule that in the off-season.

Maybe I’m not following closely enough, but is this going in the exact spot where Arena tower was going? Isn’t that a big hole in the ground?

[Novacek]

Originally Posted by H2O

I could be wrong, but I wouldn't expect them to start during the season so they can continue to use the site for parking. Obviously they can't build the project entirely in one off-season (or maybe even two or three, including the seasons in between) but I would think they would want to start the season with some certainty over parking utilization and not change mid-season. On the other hand, I am also anticipating they will want to start on the north building seating expansion in the stadium soon, and they definitely will want to schedule that in the off-season.

Who is “they” in this context?

Despite the name, afaik Verde Square isn’t being developed by Austin FC or Precourt.

“However, Krieger said Precourt is not involved with the development of Verde Square.”

https://communityimpact.com/austin/north...office-space-to-site-next-to-q2-stadium/

The land formerly was owned by 27 Real Estate Ventures, which I believe _is_ Precourt. But it was transferred to an LLC that seems to link back to Karlin.

Sure until they start building the parking brings in some small revenues to the developers, but I wouldn’t expect them to delay the project based on that.

[StoOgE]

None of the guaranteed parking are on those spaces, thare are all just pavemint app paid spots. I doubt the income from 50 dollar parking spots a few times a year is worth delaying construction.

[Novacek]

Originally Posted by IluvATX

Maybe I’m not following closely enough, but is this going in the exact spot where Arena tower was going? Isn’t that a big hole in the ground?

No, this is the parcel(s) just to the south of that. Formerly the location of the strip of stores that was torn down to put in the Bright Verde way

[Urbannizer]

This appears to be a separate project where Lighting Inc is currently. You can see placeholder buildings for Verde Square behind it.

https://www.vitaecapitalinvestments.com/arena/

Flyover of the site at 2:38

https://vimeo.com/790812417

LP Member interest in the Narrow Road Group project, Arena.
Directly adjacent to the Q2 Soccer Stadium, this apartment development involves 3 buildings. Total units will be 434-1,040.
Austin, Texas.

[KevinFromTexas]

So, that says three buildings, but there are 4 others behind those. What project are those part of?

It's amazing the number of towers being planned up there. I can already see the Domain from a few places around South Austin, and it's only going to get better. 300 feet is already showing up nicely, so pushing that 500 foot threshold is really going to be something.

[We vs us]

Wow. Maybe I need to take back all those disparaging remarks I made about all that second downtown stuff.

[KevinFromTexas]

I mean, it's downtown height, but I still wouldn't think of it as feeling anything like downtown. There could be 900 foot buildings there in this built form it has and it still wouldn't feel like downtown. That's not a bad thing either, just different. I look at it like the Galleria/Uptown in Houston. Tons of height and bulk, but still does not feel like a downtown at all.

[myBrain]

LOVE the green cladding, especially how it's on theme with the team.

[H2O]

Originally Posted by Novacek

Who is “they” in this context?

Despite the name, afaik Verde Square isn’t being developed by Austin FC or Precourt.

“However, Krieger said Precourt is not involved with the development of Verde Square.”

https://communityimpact.com/austin/north...office-space-to-site-next-to-q2-stadium/

The land formerly was owned by 27 Real Estate Ventures, which I believe _is_ Precourt. But it was transferred to an LLC that seems to link back to Karlin.

Sure until they start building the parking brings in some small revenues to the developers, but I wouldn’t expect them to delay the project based on that.

'They' is Precourt, Ironwood and Karlin. Scot Kreiger worked with Precourt from the beginning to acquire the properties so they could extend Bright Verde Way through, but they had intentions to develop the property from the beginning. They brought in Karlin, who they worked with at Parmer Pond to do the actual on the ground development work. I think Scot's comment that Precourt is not involved at all needs to be taken with a grain of salt. Scot has been fronting from the start to reduce political friction of Precourt's name at City Hall. By now, Precourt has built a pretty good local reputation, but he still has at least one detractor at City Hall who is a smart enough politician to play nice, but with a barely concealed sneer. I think she would love to see Precourt fail or develop the kind of reputation he had in Columbus so she could say "I told you so!"

I mean, the retail building is actually branded with an Austin FC logo. Would a totally unaffiliated project be able to do that? Not to mention that the hotel has holes punched through it to visually and literally connect Verde Square Plaza to Q2 Stadium. And the plaza appears to include a videotron for watch parties. Unlike Arena Tower and other adjacent developments, this project was designed from day one to be an enhancement to the Q2 game day experience.

[H2O]

Originally Posted by KevinFromTexas

So, that says three buildings, but there are 4 others behind those. What project are those part of?

It's amazing the number of towers being planned up there. I can already see the Domain from a few places around South Austin, and it's only going to get better. 300 feet is already showing up nicely, so pushing that 500 foot threshold is really going to be something.

The four buildings behind are an approximation of Verde Square (not very accurate I believe) and Arena / Stadium Tower or whatever they are now calling the pit.

[drummer]

Originally Posted by KevinFromTexas

I mean, it's downtown height, but I still wouldn't think of it as feeling anything like downtown. There could be 900 foot buildings there in this built form it has and it still wouldn't feel like downtown. That's not a bad thing either, just different. I look at it like the Galleria/Uptown in Houston. Tons of height and bulk, but still does not feel like a downtown at all.

I agree. Would certainly need more of a grid at least for pedestrian use and street interaction. They could play their cards right and have a huge win with this, but density in and of itself is at least helpful.

[paul78701]

Originally Posted by drummer

I agree. Would certainly need more of a grid at least for pedestrian use and street interaction. They could play their cards right and have a huge win with this, but density in and of itself is at least helpful.

It would also need a lot more cohesive ground floor retail that is readily accessible by pedestrians.

[ahealy]

OMG!!!! Bring on the taller towers!! I cannot wait for these to break ground!!!!

We desperately need more towers with anything but blue glass huge win for Domain.

[Novacek]

Originally Posted by paul78701

It would also need a lot more cohesive ground floor retail that is readily accessible by pedestrians.

I mean, that would be great and all, but huge sections of downtown are lacking that too.

[drummer]

Originally Posted by Novacek

I mean, that would be great and all, but huge sections of downtown are lacking that too.

Valid point. The proximity to the stadium would hopefully encourage some stuff here in the final version. And with so much existing and future development, including nearby transit (rail/bus) traffic, it makes sense in my simple mind.

[Novacek]

Anyone actually totaled up the number of housing units in Burnet/Domain today and in progress (verde square, Broadmoor, etc.)?

I could try to do it myself, but I'm feeling lazy.

The original 2007 master plan allowed for up to 40k, and there's been a few upzonings since then. Seems likely they're on track for close to that or even more long term.

"Overall, the 2035 North Burnet/Gateway
Master Plan anticipates the area could
accommodate the development of approximately 40,000 residential dwelling units,
12 to 13 million square feet of o ce and
commercial space, 4 to 5 million square
feet of retail space, 3,000 to 4,000 hotel
rooms and 5 to 6 million square feet of
industrial warehouse and service center
space over the next 25 to 30 years."

https://www.austintexas.gov/sites/defaul...20Areas/19_NorthBurnetGateway/nbg-np.pdf

There could eventually be 100k people living there.