Oh I mean't to tell u guys, that the Waller site is now a bmx park. Do to the fact that everytime I drive by, bikers are doing tricks off the concrete slabs.
So I guess that means they will demolish the villas and have that whole section of DT either cement slabs or parking lots. The segment of the Waller Creek Walk between CC and the river is going to look horrible.
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"GOOD TIMES!!!" Jerri Blank (Strangers With Candy)
58 units, that avgerages 862k per unit. Not a bad deal for owners if true. Can't imagine someone paying that much and turning it into a parking lot.
I hope your right. They could leave as is for now but at least from how I see it, Sutton is more about land grabbing than it is about development. They may be designing some sort of massive multiblock "development" plan and maybe some flashy renderings but it's probably simply to show other potential developers what could be developed.
I think we can all agree that Waller Park Place as originally proposed is dead and maybe it's a good thing in the long run because something much more grand could be on the distant horizon but I agree with Goldenboot, we aren't going to see anything happen this cycle and depending on what the global market will be like in a year or two years from now, we may not see much of anything built for several years.
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"GOOD TIMES!!!" Jerri Blank (Strangers With Candy)
EOY 16 is only 5-6 months away. According to that article they don't have permits or a hotel brand signed up yet, although he says he's close on the hotel. It takes about 9 months to get a permit through the city for something this large. Under-construction by the end of 2017 is doable if he's got everything teed up and ready to go, including construction loans, contractors, permits, hotel brand buy-in, etc. Sutton Co. is not know for being incredibly proactive. I'm guessing he's being optimistic about the start dates because he's speaking at the Bisnow Multifamily Conference. He still has a window to pull this off so I wouldn't count him out. I'm not entirely optimistic that it will happen this development cycle, however. [In both of these quotes, the emphasis is mine.]
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Likewise, he’s already nearly finalized the flags for the Waller Park Place hotel project, and says that market is strong.
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Mac hopes to be under construction on the multifamily/office building by the end of 2017; he tells us his team will start the permit process almost immediately.
I think it means that Sutton got their hands on some more land. Everything else is just hot air, including the wishful thinking coming out of Mac's mouth. He has been promising start dates on this project for about three years now, and nothing ever comes of it. I think JDawgboy pretty much nailed it in his post earlier today. It is interesting that there now seems to be no mention of McCourt Global in this (or other recent) press releases. Does that mean that McCourt's allegedly very deep pockets are no longer involved in this deal?
I lean toward austlar1's view of this, but I can't help but imagunrecognizabledditional towers in that area.
Throw in the Fairmont and 70 Rainey and we'll have an amazing southeast highrise cluster.
It will add a ton of depth to the skyline, west to Spring. Austin past will be almost unrecognizable.
They look like Donald Trump's sons, all shiny and void of soul. But we can be confident that nothing ugly is going to loom over Waller Creek. There are a lot of people putting in a lot of work to transform the Waller Creek conservation area, and there's a general plan that will be followed, which developers will have to go along with. So I'm not concerned about creekside parking lots, I just don't like these quadruplet sterile Houstonian skyscrapers. I hope they're just placeholders and that they don't represent anything like the final designs. To me, this would detract from the skyline, making it look more like 'any other modern city' instead of the fairly unique and immediately identifiable skyline we've got now. I certainly hope they don't build 4 towers of nearly-identical height, that would really look like suburban Houston.
Ha! come back a day later and there's a rendering and a blurb on a fluffpiece publication.
I still stand by my previous post. Unless I actually see a crane or cranes rise over the site, I won't be getting my hopes up about it.
The rendering itself is poorly made, it looks like someone just threw together some random generic towers, the scale is wrong and it just doesn't look professional at all. Also if they only just made the deal to buy the Villas it seems a bit quick to already have a large two tower development plan in place unless they planned it earlier if they happened to aquire that land.
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"GOOD TIMES!!!" Jerri Blank (Strangers With Candy)
The American-Statesman has an article on it today. It says the tallest tower will be 60-stories, and will be the tallest in Austin.
So, I'm a bit confused. Will these two new towers be included with the Waller Park Place project, or will they be a separate project? I think you guys getting the drift that this is a move to show what could be built there is probably right. It seems odd to buy more land adjacent to your project when you haven't even started work on it yet.
Project’s plans call for 60-story tower; would be Austin’s tallest
5:48 p.m. Thursday, June 23, 2016 | Filed in: Business
Developers are proposing a two-tower mixed-use project in Austin’s Rainey Street area that includes a 60-story tower that, if built, would become Austin’s tallest building.
The Sutton Co. of Austin and Dallas-based Koa Partners are partnering on the project, which envisions a 60-story skyscraper that would have 440 luxury apartments plus office space. A second smaller tower would have 200 condominiums and 200 hotel rooms, developers say.
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Last edited by KevinFromTexas; Jun 24, 2016 at 2:30 AM.
Tallest by number of floors...not necessarily actual height.
Plus, this is Sutton. Don't have any confidence in this project. Hell, he couldn't even get Waller Park Place off the ground. What makes anyone think he'll get this one done?
I will say one thing, he and his partners own a lot of prime real estate at the north section of Rainey.
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