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

[ILUVSAT]

Originally Posted by lonewolf

i don't think the design works at this scale

I agree!

[ILUVSAT]

Originally Posted by myBrain

Is it that surprising? Isn't this a local developer who hasn't built a tower of any size before?

I believe Wilson Capital is apart (or was) in the development of The Travis/80 Rainey.

Originally Posted by myBrain

I have to agree that the design no longer works at these proportions. The rounded roof now looks stumpy. Like a tombstone.

Yes...that's perfect. This does look like a tombstone now. Fitting - since he "killed" that amazing original design.

[DougRockstead]

Sonnuva... that sucks.

Someone needs to update the diagrams page. ^@%&%$#%%$^%$^



[QUOTE=Urbannizer;9924619]Uh oh, that was short-lived. She’s been chopped in half. The garage is also no longer rounded at the corners.

https://www.wilsontower.com/

[AusTex]

They really cut this beauty in half?

What about the numbers not working with a smaller tower? Wilson said they did not plan on designing the tallest tower in Texas, but the the numbers just worked out that way. I too wonder if this building ever gets built now. I still love the design, however it does need to be taller than the last rendering.

[the Genral]

I am willing to compromise and settle for 3/4 of the original proposal if I can get the developer to come to the table with me. I'm anything but unreasonable.

[GoldenBoot]

Originally Posted by AusTex

Wilson said they did not plan on designing the tallest tower in Texas, but the the numbers just worked out that way.

Kairoi & Lincoln said the exact same thing with regard to Waterline. But,...


This smells of a financing issue. Wilson may have realized that he, alone, was not going to secure a construction facility for the original proposal. There really is no reason to make such a dramatic cut in scope of this tower other than that. Additionally, he will not be able to garner the prices in this squatty version of the tower as he could have with the original design.

I, too, do not feel confident that this will get built (at least with Wilson as the sole developer).

Kairoi, alone, would not have been able to build 6xGuad AND Waterline without Lincoln as a development partner.

Very sad. Very sad.

[loonytoony]

Originally Posted by ATX2030

Not surprising. Here's hoping they push it out a few years and build it as the supertall they originally proposed.

Hey loonytoony what the hell happened?

I don't knowwwww, but I'm sad now. She was going to be a beaut.

My guess is the economic uncertainty going around these days - and I hate to say it - but this may not be the only one that gets nixed or downsized as a result.

[bobbywest87]

Originally Posted by loonytoony

I don't knowwwww, but I'm sad now. She was going to be a beaut.

My guess is the economic uncertainty going around these days - and I hate to say it - but this may not be the only one that gets nixed or downsized as a result.

I hesitate to even mention this, but has there ever been an instance of a tower being downsized mid-construction?

[ATX2030]

Originally Posted by loonytoony

I don't knowwwww, but I'm sad now. She was going to be a beaut.

My guess is the economic uncertainty going around these days - and I hate to say it - but this may not be the only one that gets nixed or downsized as a result.

Great info as always. Thanks

[LiveattheOasis]

Originally Posted by bobbywest87

I hesitate to even mention this, but has there ever been an instance of a tower being downsized mid-construction?

I can’t imagine, once financing is in place and so much is set into motion, it would seem to take a lot.

When other projects downsize, that would seem to help those already under construction.

[loonytoony]

Originally Posted by bobbywest87

I hesitate to even mention this, but has there ever been an instance of a tower being downsized mid-construction?

The closest thing would be the old Intel building. They essentially abandoned it mid-build. Here's an old article about it: https://www.austinchronicle.com/news/2007-02-23/449480/

If I were a betting man, I'd say anything already under construction is safe. Anything still in planning is perhaps not as certain.

[DanielG425]

If they could meet in the middle and make this thing ~700ft tall then it would be a win. It looks weird stumpy, and it looked a bit disproportional as a supertall.

[ATX2030]

SOMETHING SURE AS HELL IS NOT ADDING UP HERE!!!!!!

Wilson Capital answering the call for more housing in the Austin metro
Thousands of new apartments in the works

By Cody Baird – Staff Writer, Austin Business Journal
Apr 21, 2023

https://www.bizjournals.com/austin/news/...x_testVariant=cx_21&cx_artPos=1#cxrecs_s

A local developer of multifamily housing is turning a lot of dirt to cover the Austin area's shortfall in housing.

Since December, Wilson Capital — the firm behind downtown’s proposed tallest-in-Texas building, the 80-story Wilson Tower — has begun “meaningful work” on 708 apartments in the Austin area, with the latest groundbreaking taking place in March, founder and president Taylor Wilson said. The apartments join another 1,894 units Wilson Capital already has under construction, with another 885 units planned to start construction this year, including within Wilson Tower.

The under-construction apartments represent a significant ramping up of operations for Wilson Capital, which ranked No. 5 on ABJ's most recent list of the area's largest multifamily development firms. In 2021, it reported 1,191 units under construction or delivered.

The new housing will go a long way in helping the city meet its demand for more apartments, with the city needing more than 100,000 additional apartments by 2035, according to one estimate.

“Multifamily has proven to be a resilient asset class in a wide variety of economic climates, and we firmly believe in the fundamentals and long-term growth of Austin,” Wilson said in a statement.

There will be a period from 2025-2027 when fewer multifamily projects will be delivered, he predicted, and Wilson Capital’s goal is to be among the projects delivered in that time frame.

Wilson Capital’s most recent project is The Bower, which broke ground in Pflugerville at 705 E. Olympic Dr. in March. The 263,350-square-foot project will have 294 apartments ranging from 646 to 1,407 square feet. The Bower is expected to be delivered in the fourth quarter of 2024 with leasing largely occurring in 2025, Wilson said.

The developer is also building apartments in Lakeway, having broken ground on The Jovie Lakeway in February. The active adult community is for those aged 55 years and up, and is located in the Tuscan Village planned unit development. It will consist of two buildings with 210 apartments ranging from 657-1,282 square feet. The Jovie Lakeway is expected to be delivered in the fourth quarter 2024 with leasing largely occurring in 2025.

Wilson Capital broke ground on Local at Dripping Springs in December. Located at 27110 Ranch Road 12, it will be a 172,028-square-foot project built in two phases. It will consist of three buildings and a clubhouse, with the first phase seeing 174 apartments rise and the second phase seeing 32 more built. The average size of the units is 538-1,427 square feet, and the project is expected to be delivered in the third quarter 2024.

Clark Wilson Builder is the general contractor attached to all three projects. Meeks Partners is attached to The Bower as architect, WDG Architecture is attached to Jovie Lakeway as architect and Humphreys and Partners is attached to Local as architect.

Wilson said that changing market conditions, particularly rising construction costs and interest rates, have caused Wilson Capital to be selective about which projects move forward, adding that some projects that made sense in 2021 or 2022 might not work in today’s economic environment.

To that end, the developer is still targeting a 2024 groundbreaking for Wilson Tower, which would become the tallest tower in all of Texas upon completion at 1,035 feet tall. Plans for that project hit a snag in January when it failed to gain approval from the city’s Design Commission. Commissioner Aan Coleman specifically cited the lack of public space as an issue.

Wilson Tower is still expected to break ground later this year, Wilson said, adding: “We are making some changes in response to the Design Commission’s feedback as well as changing market conditions.”

[Nickelplate]

I refuse to believe this building will be built until 1 of 2 things occur:
1) A rendering with extreme amounts of foliage incorporated above street level, bats flying in V formation and shadow people gesturing ever so gracefully.
2) It is named the JW Marriott Residences.

[GoldenBoot]

Originally Posted by ATX2030

Wilson said that changing market conditions, particularly rising construction costs and interest rates, have caused Wilson Capital to be selective about which projects move forward, adding that some projects that made sense in 2021 or 2022 might not work in today’s economic environment.

To that end, the developer is still targeting a 2024 groundbreaking for Wilson Tower, which would become the tallest tower in all of Texas upon completion at 1,035 feet tall. Plans for that project hit a snag in January when it failed to gain approval from the city’s Design Commission. Commissioner Aan Coleman specifically cited the lack of public space as an issue.

Wilson Tower is still expected to break ground later this year, Wilson said, adding: “We are making some changes in response to the Design Commission’s feedback as well as changing market conditions.”

Is he saying he had to slash the tower due to financing issues? Has he over leveraged is company - and Wilson Tower is going to suffer from that?!?

The author of the article seems to allude to the fact that the tower will remain a supertall. However, unless it is a direct quote from Wilson, himself, I would chalk it up to a journalist "assuming" the tower is still a go as originally planned - without directly asking Wilson for clarification.


P.S.
How do we know it's 44 stories now? Did I miss something? I noticed on the Wilson Tower website that they have downsized the number of units from 450 to 351. But, I didn't see anything regarding number of floors.

[siriusdog]

Can this be an April Fool's Day prank that they forgot to send out 20 days ago and just getting to it?
Definitely a big letdown if true. I agree that the proportions seemed stretched out as a supertall and would look better as a 700 footer.

[ATX2030]

Originally Posted by GoldenBoot

Is he saying he had to slash the tower due to financing issues? Has he over leveraged is company - and Wilson Tower is going to suffer from that?!?

The author of the article seems to allude to the fact that the tower will remain a supertall. However, unless it is a direct quote from Wilson, himself, I would chalk it up to a journalist "assuming" the tower is still a go as originally planned - without directly asking Wilson for clarification.


P.S.
How do we know it's 44 stories now? Did I miss something? I noticed on the Wilson Tower website that they have downsized the number of units from 450 to 351. But, I didn't see anything regarding number of floors.

Hard to believe Wilson or an associate hasn't read the article and contacted the author and told him the tower has been cut in half. Somebody dropped the ball here. Regardless your right GoldenBoot since the website has the cut in half version on the site.

[KevinFromTexas]

Meh. I didn't think the design merited the supertall height status. This is more like the Aloft and Hyatt Centric, and I'm good with that.

And now this will be the little toaster that couldn't.

[paul78701]

Originally Posted by GoldenBoot

P.S.
How do we know it's 44 stories now? Did I miss something? I noticed on the Wilson Tower website that they have downsized the number of units from 450 to 351. But, I didn't see anything regarding number of floors.

450 to 351 is a 22% reduction in units. Even if those 99 cut units are the largest units in the building, it doesn't add up that the building was roughly cut in half.

I'm not doubting that they've downsized, but I'm starting to wonder if the downsizing may not be as extreme as we've been lead to believe. It seems that more updates may be yet to come.

[ILUVSAT]

Originally Posted by KevinFromTexas

Meh. I didn't think the design merited the supertall height status. This is more like the Aloft and Hyatt Centric, and I'm good with that.

And now this will be the little toaster that couldn't.

I respectfully disagree with you. This tower's design was fantastic as a supertall - world class. However, it looks very odd as a 500-footer. Also, this tower will eventually disappear behind several towers as tall or taller in the coming decade. It's a real shame.

I agree with those who believe it would look better as a 700'-800' tower - if not the full 1,035-footer - rather than this version.