AUSTIN | Projects & Construction II

[JoMo]

Some of your posts in response to my post are just a bunch of rants and raves. I just posted my last comment about the Austonian because I was not the first one to hear about this. Otherwise I would have posted two weeks ago. No developer wants to do this so they are going to push of going public and continue marketing in hope of getting those last few sells to go along with the original plans. Some of you must have no idea how a building is built or the process of building a building. As an architect I know how much a building can change from the point of schematic design to the point a building receives it certificate of occupancy. I really want to see this building finished at its full planed height, I am a skyscraper geek just like all of you guys. The Austonian will really help to redefine the Austin skyline.

[priller]

I think we're all in agreement on that point -- we all really badly want this building to be completed as planned. It would be an enormous disappointment (not to mention incredibly short-sighted, imho) if they did decide to stop the building early. We're just looking for information that's more substantial.

And yes, you are correct that many of us here have little idea what all goes into constructing a skyscraper, since we're mostly fans and not in the business.

One question I have that maybe you can answer, JoMo. Do you know of other examples of a skyscraper whose height was cut down substantially during construction?

[Northcrossed]

^ Some of these are in use, others not:

http://en.wikipedia.org/wiki/Unfinished_building

Then there's this one:

http://query.nytimes.com/gst/fullpage.ht...57C0A965958260&sec=&spon=&pagewanted=all

And in Fort Worth:

http://www.fortwortharchitecture.com/woolwrth.htm

By the way, the Austin National Bank building at 5th & Congress was built with a heavy-enough foundation and vertical supports that it could later serve as the base of an office tower, but they built next door (6th & Congress) instead.

[JGFrisco]

I would find it really unlikely for this building to stop construction. Not saying it couldn't happen, but it's not likely. Why? Use logic.

This building will be, by a considerable margin, the tallest building in Austin. As such, there is a certain cachet to it. The units are significantly more expensive than most others in the market, and part of that is the opportunity to live in the tallest building in the city.

If you shut it down and stop, you immediately remove that cachet, and it's just another condo tower in a city full of them, at a time where sales are slowing signifcantly. Plus, I would imagine that many of the sales they do have are high up...in floors that would not exist. If they are, say, 25% pre-sold, but half of those are in the floors that weren't built, those are sales they are NOT getting back, and they would be cutting off their noses to spite their face.

I think that like or not, they are committed and they have to finish. It would be a really foolish move to stop now. If you are a lender and you are skeptical, you'll still hold out, because to stop construction is to probably guarantee a default, something you obviously don't want.

[shanny]

plus...financing is complete secure with Grupo Villar Mir, a multi billion dollar real estate giant, backing the project...this is the Spanish company's premier American project...i dont see this thing stopping until it reaches 682' 11''

bizjournal after 10th floor speculation:

The Spanish company behind the $250 million project, Grupo Villar Mir, "believes in Austin and the long-term health of this market," says Terry Mitchell, strategic marketing director for the tower. Mitchell called "almost comical" the rumors percolating in the market that the developer might finish the lower floors and hold-off construction on the tower itself, or even change the use of the building altogether.

[zx14]

ok guys I started this with a question not a rumor. The building will be built as planned. Forgive me

[NThomas]

Originally Posted by shanny

...or even change the use of the building altogether.

that one made me laugh...

[Northcrossed]

Work to start on Seaholm redevelopment late next year
By Shonda Novak

AMERICAN-STATESMAN STAFF

http://www.statesman.com/business/content/business/stories/realestate/12/16//1216seaholm.html

Construction could begin by late next year on the $117 million redevelopment of the former Seaholm Power Plant in downtown Austin.


Ricardo B. Brazziell /AMERICAN-STATESMAN
Taken with a 2 for $5 Walgreens disposable camera.

[Northcrossed]

Domain retail projects delayed a year
Whole Foods, Saks, Nordstrom on hold till 2012.

By Shonda Novak

AMERICAN-STATESMAN STAFF

http://www.statesman.com/business/content/business/stories/realestate/12/16/1216domain.html

In another casualty of the recession, three retail projects at the Domain in North Austin have been pushed back for a year.

A Nordstrom and a Saks Fifth Avenue, along with 450,000 square feet of additional retail space, 490 apartments and 125,000 square feet of office space, won't open until fall 2012, said Kirk Rudy, managing principal with the project's developer, Austin-based Endeavor Real Estate Group LLC.

The delay will push the opening of a Whole Foods Market to May 2012, also about a year later than planned, Rudy said.

[KevinFromTexas]

Originally Posted by shanny

or even change the use of the building altogether.

We could one up Knoxville for the world's tallest wig warehouse.

[OU812]

RE: Domain project
http://www.statesman.com/business/content/business/stories/realestate/12/16/1216domain.html

"work has started on a Westin Hotel..."

I'm surprised this hotel is still moving forward, that's good to hear!

[Jdawgboy]

Okay lets go ahead and put these false rumors out of circulation shall we.

Good afternoon Jeremy,

Yes, the building will be 56 stories and 683 ft tall. The top two floors will be common areas for the residents and their invited guests. The condominium units will range from the 11th floor to the 54th floors. Would you like more information on the condominiums?

Thank you,


Antonia Murphy
Moreland Properties at The Austonian
300 W. 6th Street, Suite 110
Austin, TX 78701
512.623.3633
www.theaustonian.com

--------------------------------------------------------------------------------
From: Austonian Sales [[email protected]]
Sent: Tuesday, December 16, 2008 1:33 PM
To: Antonia Murphy; Ashley Fisher
Subject: FW: Question about construction?



-------------------------------------------
From: [email protected][SMTP:[email protected]]
Sent: Tuesday, December 16, 2008 11:26:58 AM
To: Austonian Sales
Subject: Question about construction?
Auto forwarded by a Rule
I wanted to ask if the Austonian will be completed at full height of 56 floors and 683'? There are rumors going around that the building will be cut short at around 35 floors before the crown is added? I do not think its true but wanted to confirm that it is not. Thank you for your time.

Jeremy N. Sweredoski

[priller]

That was easy. Thanks for asking them, Jdawg.

[alexjon]

Originally Posted by Northcrossed

Domain retail projects delayed a year
Whole Foods, Saks, Nordstrom on hold till 2012.

By Shonda Novak

AMERICAN-STATESMAN STAFF

http://www.statesman.com/business/content/business/stories/realestate/12/16/1216domain.html

In another casualty of the recession, three retail projects at the Domain in North Austin have been pushed back for a year.

A Nordstrom and a Saks Fifth Avenue, along with 450,000 square feet of additional retail space, 490 apartments and 125,000 square feet of office space, won't open until fall 2012, said Kirk Rudy, managing principal with the project's developer, Austin-based Endeavor Real Estate Group LLC.

The delay will push the opening of a Whole Foods Market to May 2012, also about a year later than planned, Rudy said.

I put in a call, I told Nordies that Austin wasn't cool enough right now and to wait until the Austonian was finished.

Whole Foods, no clue-- that's your deal round there.

[Jdawgboy]

But we already have a Nordstroms at Barton Creek Square which is not far from my home. I don't mind waiting alittle while for another one.

[KevinFromTexas]

Thanks for sending that email Jdawgboy.

[alexjon]

Originally Posted by Jdawgboy

But we already have a Nordstroms at Barton Creek Square which is not far from my home. I don't mind waiting alittle while for another one.

Yes, but asking for another one? That has to go through THE BOARD.

You're approved, pending Austonian topping out. We'll even throw in a piano player and a Nordstrom Grill. e-Bar might not be so quick to appear.

[Strayone]

Did you notice the picture of the Seaholm aerial above had this from the photographer.

Ricardo B. Brazziell /AMERICAN-STATESMAN
Taken with a 2 for $5 Walgreens disposable camera.

I no longer feel like a fool using my phone as a camera!

[Northcrossed]

^

Originally Posted by Strayone

Taken with a 2 for $5 Walgreens disposable camera.

I added that part. The blurriness was probably distortion caused by the aircraft window.

[shanny]

Jdawg to the rescue!