AUSTIN | Waterline (98 Red River) | 1,022 Feet | 73 Floors | U/C - Page 39

Jdawgboy · #**761** Posted **Oct 20, 2018, 6:00 AM**

Quote:

Originally Posted by We vs us

Soooo.... what would’ve happened if they’d let the site plan lapse? If they truly didn’t intend on building on the land, why renew it again?

My thinking is if someone buys the property then they could move forward with building something rather than having to start all over with the permit process.

Tyrone Shoes · #**762** Posted **Oct 20, 2018, 10:46 AM**

I kinda figured this project was dead. Not actually dead but on life support and the family has been called to the hospital....

The ATX · #**763** Posted **Oct 20, 2018, 3:29 PM**

Quote:

Originally Posted by Tyrone Shoes

I kinda figured this project was dead. Not actually dead but on life support and the family has been called to the hospital....

The patient is barely hanging on. Most of the family went back home to wait a little longer.

GoldenBoot · #**764** Posted **Oct 20, 2018, 3:41 PM**

Quote:

Originally Posted by Jdawgboy

My thinking is if someone buys the property then they could move forward with building something rather than having to start all over with the permit process.

You are correct. Land with maximized entitlements in place is FAR more valuable than land itself. I still believe (and have for a very long time) that it was Sutton & McCourt's overall goal to maximize the value of the land and sell it to someone with more wherewithal to actually develop it.

Geckos_Rule · #**765** Posted **Nov 6, 2018, 4:08 AM**

https://therealdeal.com/2018/11/05/w...p-development/

WeWork is close to closing a deal to purchase the entire property from McCourt, and develop it themselves. Should be interesting, and seems like there’s a much better chance of something real happening with this site under them.

This is WeWorks first ever property development.

We vs us · #**766** Posted **Nov 6, 2018, 4:15 AM**

Oh wow

AustinGoesVertical · #**767** Posted **Nov 6, 2018, 4:32 AM**

This is huge. WeWork also operates WeLive, so we could see an interesting mix of office and residential under their brand. What a pivot, but an interesting one for WeWork, where their margin looks a lot better if they do flexible leasing on top of properties they own rather than are an umbrella tenant themselves. WeWork has been doing a lot in the tech space as well - buying up a variety of companies - so I wonder if they themselves might be a tenant creating their own satellite HQ. They’re well-funded, so this site has a much better chance of being developed now.

We vs us · #**768** Posted **Nov 6, 2018, 2:47 PM**

Especially if this is their inaugural development, I'd expect it to move quickly and to be as impressive as they can make it.

Huge win.

futures · #**769** Posted **Nov 6, 2018, 3:47 PM**

I wonder if those Gensler renderings were part of an initial vision for WeWork... (edit: page 370 of the updates thread)

Either way, this is really exciting.

AustinGoesVertical · #**770** Posted **Nov 6, 2018, 4:00 PM**

Quote:

Originally Posted by futures

I wonder if those Gensler renderings were part of an initial vision for WeWork...

Either way, this is really exciting.

Which ones? The statesman site renderings?

We vs us · #**771** Posted **Nov 6, 2018, 4:26 PM**

Not sure what Gensler renderings you're referring to, but this pic helped refresh my memory about exactly which plots we're talking about.

futures · #**772** Posted **Nov 6, 2018, 4:32 PM**

There were renderings posted in the stickied updates thread on page 370. Other users thought it might be the WPP site.

GoldenBoot · #**773** Posted **Nov 6, 2018, 5:37 PM**

Quote:

Originally Posted by futures

I wonder if those Gensler renderings were part of an initial vision for WeWork... (edit: page 370 of the updates thread)

Either way, this is really exciting.

I'd scrap the simcity-like "renderings" we've seen thus far. It's not going to be the same. I'd also expect at least a slight reworking of the site plan should WeWork actually close and commence development of the site.

wwmiv · #**774** Posted **Nov 6, 2018, 6:11 PM**

Quote:

Originally Posted by futures

There were renderings posted in the stickied updates thread on page 370. Other users thought it might be the WPP site.

There is no page 370.

Geckos_Rule · #**775** Posted **Nov 6, 2018, 7:31 PM**

Quote:

Originally Posted by GoldenBoot

I'd scrap the simcity-like "renderings" we've seen thus far. It's not going to be the same. I'd also expect at least a slight reworking of the site plan should WeWork actually close and commence development of the site.

Correct. They haven't officially closed the deal yet, I doubt they've done much work with regards to design, other than general plans for the number of buildings and size/height of each.

The ATX · #**776** Posted **Nov 6, 2018, 8:07 PM**

Quote:

Originally Posted by Geckos_Rule

https://therealdeal.com/2018/11/05/w...p-development/

WeWork is close to closing a deal to purchase the entire property from McCourt, and develop it themselves. Should be interesting, and seems like there’s a much better chance of something real happening with this site under them.

This is WeWorks first ever property development.

Good find. If the deal goes through I would expect a major rework of the project. Office is a relatively small component of it now.

KevinFromTexas · #**777** Posted **Nov 6, 2018, 8:31 PM**

I liked the tallest tower in the proposal there, but those others need work.

the Genral · #**778** Posted **Nov 6, 2018, 9:31 PM**

The tallest reminds me of 6X, next tallest, Spring, the shortest like a squeeze box, or an accordion if you prefer.

The ATX · #**779** Posted **Nov 6, 2018, 9:41 PM**

I don't think we ever had "real" renderings because I don't think they ever matched the floor counts in the approved and released elevations. But I don't care enough to go back and verify that by counting floors at this point.

KevinFromTexas · #**780** Posted **Nov 6, 2018, 11:12 PM**

I think you're right. The shortest one is the office tower, and it was supposed to be 333 feet, but it looks even shorter than that here. I don't even think that tallest one there is anywhere near 614 feet either.

I like the tallest one. It sort of reminds me of the Shoreline Plaza towers in Corpus Christi which have long been some of my favorite buildings for their quirkiness. They really are great tallest buildings, and being twins and the way they're oriented makes them great waterfront towers. If we were ever to get a set of twins, I wouldn't mind something like that.