AUSTIN | Waterline | 1,034 Feet | 73 Floors | T/O - Page 22

AustinGoesVertical · #1 Posted **Jan 16, 2016, 8:03 PM**

Quote:

Originally Posted by wwmiv

No, I would have been very unhappy. That happening would have huge dampening effects on future developments because investors would no longer see Austin as an attractive market.

No they weren't empty because of lack of demand, just for some reason WWP decided not to even finish the inside (for lack of their own funding... or some other reason, idk, it was a dream lol) but they looked great so let's hope that part of the foreshadowing is true.

wwmiv · #2 Posted **Jan 16, 2016, 9:41 PM**

Quote:

Originally Posted by AustinGoesVertical

No they weren't empty because of lack of demand, just for some reason WWP decided not to even finish the inside (for lack of their own funding... or some other reason, idk, it was a dream lol) but they looked great so let's hope that part of the foreshadowing is true.

The actual reason wouldn't matter, the perceived reason would still be that Austin's market couldn't stomach the development and it would result in a freeze of new stock.

KevinFromTexas · #3 Posted **Jan 16, 2016, 5:58 AM**

How awesome and amazing would it be to have three 600+ foot tall buildings under construction at the same time? This one, The Independent and the Block 71/UT block redevelopment.

drummer · #4 Posted **Jan 16, 2016, 7:23 AM**

^ Indeed. I was kidding about it failing, by the way. I certainly don't want any project to fail due to lack of interest.

GoldenBoot · #5 Posted **Jan 16, 2016, 4:45 PM**

I'd feel a whole lot better about this project if they were not only beginning site preparation but also had already announced/released/began the following (in no particular order): financiers (who, specifically, is providing construction and development loan facilities), hotel operator, general contractor, pre-sales for condos, new renderings, pre-leasing of office space, pre-leasing of retail space, pre-leasing of apartments, etc.

None of the aforementioned information has been made publicly available. So, simple demolition of the existing, run-down structures really does not mean a whole lot. It also does not mean this specific project is moving forward. It is what it is...demoing old buildings.

MichaelB · #6 Posted **Jan 16, 2016, 10:26 PM**

Quote:

Originally Posted by GoldenBoot

I'd feel a whole lot better about this project if they were not only beginning site preparation but also had already announced/released/began the following (in no particular order): financiers (who, specifically, is providing construction and development loan facilities), hotel operator, general contractor, pre-sales for condos, new renderings, pre-leasing of office space, pre-leasing of retail space, pre-leasing of apartments, etc.

None of the aforementioned information has been made publicly available. So, simple demolition of the existing, run-down structures really does not mean a whole lot. It also does not mean this specific project is moving forward. It is what it is...demoing old buildings.

Always the voice of reason, thank you.
I agreee, Demo can only mean demo.
We see several empty blocks downtown that were demolished in the past couple years without a project being built: ZaZa ( thought it may happen) and almost the entire 1700 block of Guadalupe ( where the dog and duck , etc were)
Hell, so much of what has been built downtown in the last decade was built of empty lots that were demolish in the 80s on spec.... and many still stand empty.
So... while I do hope this project happens.... demo is not a sure indicator.... espescially condering the laundry list of unknowns listed above.

Jdawgboy · #7 Posted **Jan 17, 2016, 10:45 PM**

I walked by the site Friday night and thought the same thing. Demo doesn't mean construction is imminent. Unless there is a public announcement or some sort of official news release then it's hard to say this is moving forward.

They may simply be creating new surface parking lots.

drummer · #8 Posted **Jan 18, 2016, 1:55 AM**

Quote:

Originally Posted by Jdawgboy

I walked by the site Friday night and thought the same thing. Demo doesn't mean construction is imminent. Unless there is a public announcement or some sort of official news release then it's hard to say this is moving forward.

They may simply be creating new surface parking lots.

If they do that, all of you folks need to do a sit-in protest.

the Genral · #9 Posted **Jan 17, 2016, 11:26 PM**

Or maybe they are cleaning up the property to make it more attractive to a potential buyer...

austlar1 · #10 Posted **Jan 18, 2016, 2:32 AM**

With the price of oil sinking and stock markets tumbling here and everywhere else, I suspect this is not going to get started anytime soon. Economic conditions are too uncertain. Look on the bright side. Parking has become problematic in that part of town.

The ATX · #11 Posted **Jan 24, 2016, 1:49 PM**

I went by the site early - too dark for pictures - this morning. It looks like all of the remaining buildings are in various stages of demolition. In about a week the site should be cleared. I hope it doesn't stay that way for too long.

Jdawgboy · #12 Posted **Jan 24, 2016, 6:37 PM**

Quote:

Originally Posted by The ATX

I went by the site early - too dark for pictures - this morning. It looks like all of the remaining buildings are in various stages of demolition. In about a week the site should be cleared. I hope it doesn't stay that way for too long.

Here's to hoping

Seems like a lot of projects are pushing forward all at once. I'd say if we don't hear any specifics on this in the next couple of months then it's not likely to happen.

I'm an optimist as much as I can be but I've learned over the years never to expect a project is happening for sure but rather be pleasantly relieved when construction begins.

ILUVSAT · #13 Posted **Jan 25, 2016, 1:24 AM**

As much as I was intreagued by the initial plan for this development, it's not going to happen as originally planned!

That is all I can say at this juncture.

The ATX · #14 Posted **Jan 25, 2016, 1:31 AM**

I'd rather see them go slow(er) and maybe just build the office tower first rather than dumb down the entire project.

The ATX · #15 Posted **Jan 25, 2016, 1:53 AM**

In that Bisnow article/fluffy goodness from last October that said this project would break ground after the first of the year (break buildings may be more accurate) Mac Pike also said he had a "hotel lined up for the project".

Based on the current market conditions I can the hotel and one of the residential buildings as well as the office portion going forward.

Re-post of the article: https://www.bisnow.com/austin-san-an...-preview-51105

AustinGoesVertical · #16 Posted **Jan 25, 2016, 4:04 PM**

Could you imagine this happening in its current iteration. That's like having three buildings the scale of (360, Frost Bank, and Seaholm) built simultaneously on the same site. That would be huge for Austin. At that corner, it would serve as a link between the convention center area and the Rainey St. district. Right now there's kind of an awkward gap up Red River between the Fairmont and Hotel Van Zandt.

AustinGoesVertical · #17 Posted **Jan 25, 2016, 4:21 PM**

One big concern for me is the state of the design. Those renderings for a project of this scale seem really subpar. (Just compare them to 5th and West's illustrations and you get the difference). I agree that I find it strange that there is no full-scale marketing push for this project. The architect's (IBI) page on it is worrisome (those dated, primitive renderings and a description of 21-floors for the office, 38 for the hotel/residential building, and 46 for the tallest residential structure). I mean, why wouldn't this firm want glowing renderings with accurate info?

ILUVSAT · #18 Posted **Jan 25, 2016, 5:25 PM**

The level of rendering one would receive is proportional to the amount of money paid for said rendering.

Thus, it can be deduced that Sutton did not pay very much for the renderings (when compared to active projects like The Independent, Fifth+West, Austin Proper, 500 West Second, etc.). Why would they? They are not sure if they can actually build this project. So, I don't blame them for not throwing money at pretty rendering.

Having said that, I find their original rendering to be far more interesting than the current one. Much better design, imo.

And yes, this will be a huge undertaking - if built in its current form. The amount of space which would be constructed is equivalent to the JW Marriott (~1.4 million SF).

Downtown_Austin · #19 Posted **Jan 27, 2016, 4:20 PM**

Demolition milestone at Waller Park Place. North of Willow is completely clear.

Jdawgboy · #20 Posted **Jan 27, 2016, 5:34 PM**

I had a sinking feeling it was going to be suface parking. They wouldn't have paid parking $10 plus monthly parking in front of ongoing demolition if they were going to start construction immediately after. It's going to be ugly parking lots for who knows how long. Just what we always wanted a long a soon to be flood controlled Waller Creek!