Austin Projects & Construction

[GoldenBoot]

Originally Posted by messerproperties

I would like to work with developers. As of now, I don't really have much to invest. The experience would be a great learning tool, even if I were to hold a very low level position. Investing in future projects is definitely a long term goal. For now, I have developed a habit to maintain a network of potential investors, like family friends and acquaintences.

Thanks for your input!

You’re in for a tough battle! The development industry is a taxing field to crack!!!

Without several million dollars to invest, most developers don’t need you/your money. They already have deep relationships with several established lenders. Do not go into this job/career search with the intent to invest immediately. Plus, if you know anything about development – you would know that they “play with other people’s money.” The majority of developers do not invest their own dollars into projects. They negotiate a cut somehow (there are literally countless ways to do this).

Most developer shops are quite small and would only hire people with several years of experience. My suggestion to you is to make a list of commercial real estate leaders in Austin and set-up 15-minute “informational meetings” with them. Your goal here is to "network!" Do not go into these meetings asking for a job! They'll slam the door on you - if you even get in the door in the first place. Go into each of the meetings with the goal of garnering their input as to what they would be doing in your shoes. However, you need to have a clear aim as to what exactly want to do in the field – and don’t have a bottled, generic response like “I want to be a developer.” Be as specific as possible – otherwise these meetings will be a waist of your (and their) time!

Don't be surprised if you meet with a developer and they tell you to cut your teeth in the broker industry - and vice versa!!! Brokering may not be a bad idea – neither would attempt to join a construction or engineering firm. Don’t think that just because you have a degree that these firms will be “handing” you a job. “IF” they’re hiring, they want people who can demonstrate many years of personal, “real-life” experience in the field.

You might ask how do I know all of this… It’s what I did and how I landed a position in the field. I spent almost six months meeting (networking) with every commercial & MF (multi-family) residential real estate leader in the region.

Just remember that a developer is just one, small piece of the puzzle in commercial (and MF residential) real estate projects. Others include architects, engineers, real estate brokers, lawyers, civil and governmental consultants, financiers, analysts, city staff, neighborhood groups, etc., etc., etc… Each piece of the development puzzle is crucial. And a project cannot succeed without a team of individuals from various professions and civil organizations.

I’d be glad to give you any more input – just let me know…

If this is really what you want to do – then go for it! Don’t get discouraged and don’t give up!

-GB

[KevinFromTexas]

There may be a new project coming to this site. The location is 1201 Tinnin Ford Road. It's between South Lakeshore Drive and East Riverside Drive.

From the Austin Business Journal
http://austin.bizjournals.com/austin/stories/2006/04/10/daily42.html?surround=lfn

Town Lake condo project sold for redevelopment

Austin Business Journal - April 14, 2006

The Town Lake Village Condominiums have been sold for redevelopment.

The portion sold includes 71 units of a 74-unit complex at 1201 Tinnin Ford Road off Town Lake in Southeast Austin.

The buyer is Town Lake Village LLC, a subsidiary of Austin-based B. Knightly Homes, and was represented by Anne Markley of Broker Network Realty.

The Seller was a trust from Sebastopol, Calif. and was represented by Ellen Muskin of the Austin office of Hendricks & Partners.

[rjlevins]

Originally Posted by Mopacs

I think you're right jmanh, that massive parking lot (especially on the east side near Foley's) is rarely fully utilized, except on the busiest shopping days (Day After Thanksgiving and the following 4 or 5 Saturdays). The areas adjacent to Highland are hardly blighted either, with Hyde Park's northern areas just blocks away, across Koenig, and the western St Johns neighborhood (immediately to the north) is well-kept, IMO.

Also, a commuter rail stop is in the long-range plans for Highland Mall (the rail line is across Airport Blvd from the mall), and the Crestview Station redevelopment is less than a mile away (at Airport and Lamar). Without a doubt the Mall can't remain in the state that its in and survive. Not saying that the indoor mall portions will be demolished/reconstructed, but a dramatic repositioning is long overdue, and should incorporate some form of mixed-use development. Time will tell, of course...

I don't mean to start rumors, but I thought that was the plan all along. Highland Mall will become a transit station/retail complex similar to Mockingbird Station in Dallas, just with noisy and inefficient commuter rail instead of light rail.

[rad707]

Originally Posted by rjlevins

I don't mean to start rumors, but I thought that was the plan all along. Highland Mall will become a transit station/retail complex similar to Mockingbird Station in Dallas, just with noisy and inefficient commuter rail instead of light rail.

Right you are. Unfortunately, the tracks run on the West side of Airport Blvd. and not smack dab through the middle of the mall, but I suspect that Highland Mall will go under the same revitalization that the Dr. Pepper plant area did when Mockingbird station came to town.

When you think about it, both examples are in similar proximity to affluent neighborhoods. Highland Park and SMU = Mockingbird Station, Hyde Park and UT = Highland Mall Station. Similar results/demographic shifts?

Anything would be better than what we currently have...a paved dump.

[messerproperties]

Originally Posted by GoldenBoot

You’re in for a tough battle! The development industry is a taxing field to crack!!!

Without several million dollars to invest, most developers don’t need you/your money. They already have deep relationships with several established lenders. Do not go into this job/career search with the intent to invest immediately. Plus, if you know anything about development – you would know that they “play with other people’s money.” The majority of developers do not invest their own dollars into projects. They negotiate a cut somehow (there are literally countless ways to do this).

Most developer shops are quite small and would only hire people with several years of experience. My suggestion to you is to make a list of commercial real estate leaders in Austin and set-up 15-minute “informational meetings” with them. Your goal here is to "network!" Do not go into these meetings asking for a job! They'll slam the door on you - if you even get in the door in the first place. Go into each of the meetings with the goal of garnering their input as to what they would be doing in your shoes. However, you need to have a clear aim as to what exactly want to do in the field – and don’t have a bottled, generic response like “I want to be a developer.” Be as specific as possible – otherwise these meetings will be a waist of your (and their) time!

Don't be surprised if you meet with a developer and they tell you to cut your teeth in the broker industry - and vice versa!!! Brokering may not be a bad idea – neither would attempt to join a construction or engineering firm. Don’t think that just because you have a degree that these firms will be “handing” you a job. “IF” they’re hiring, they want people who can demonstrate many years of personal, “real-life” experience in the field.

You might ask how do I know all of this… It’s what I did and how I landed a position in the field. I spent almost six months meeting (networking) with every commercial & MF (multi-family) residential real estate leader in the region.

Just remember that a developer is just one, small piece of the puzzle in commercial (and MF residential) real estate projects. Others include architects, engineers, real estate brokers, lawyers, civil and governmental consultants, financiers, analysts, city staff, neighborhood groups, etc., etc., etc… Each piece of the development puzzle is crucial. And a project cannot succeed without a team of individuals from various professions and civil organizations.

I’d be glad to give you any more input – just let me know…

If this is really what you want to do – then go for it! Don’t get discouraged and don’t give up!

-GB

Thanks Golden Boot. That's some great feedback! I really apprechiate your ideas!

I will definitely contact you if I have any further questions.

[StoOgE]

Just thought I would give you guys a heads up... the jumbotron is being torn down at DKR, and a new one should be going up this summer. Its going to be a daktronics screen.. which is the company that builds those widescreen High Defintion stadium screens.

There are two different rumors on size.. 150'x50' which would make it the largest stadium screen in the world, by over 750 sq feet. The second rumor has it being 135'x50' which would make it just smaller than the Dolphins/Marlins new jumbotron, but would still make it alot bigger than anything in the NCAA.

I've also been told we can expect a similar sized one to go in the North endzone once construction is completed.

For reference this monster in Detroit is 97*37 feet. Even if the smaller screen size rumor is true, the new board at UT will be twice as big.



Im betting that the new board is probably 135*50 for the screen and 150*50 including the adds on the sides... thats probably the source of the two different rumors.



Unless it looks like the fins scoreboard and has no ads surrounding it.

Hopefully it will at least have a score on it. Unlike the current one.



The aggies new board going up this season will be 50 * 70 feet, not widescreen and not high definition... but it will still be a giant board.

[KevinFromTexas]

People forget sometimes how big these things are, myself included. Stadiums and arenas throw your sense of scale off.

By the way, for comparison, the UT Tower is 307 feet tall, and the tower shaft is 59x59 feet. Basically a 150x50 foot jumbotron would be as wide as the tower shaft itself, and as tall as the "1" on the side of the UT Tower as the "1" is lit using 11 floors in the building.

[greenbelt]

looking forward to more skyscraper news.

[rad707]

Originally Posted by greenbelt

looking forward to more skyscraper news.

Skyscraper news with a political twist:

It looks like Northwest Austin homeowners aren't all that thrilled at high density growth in the Austin suburbs:

https://www.notower.com/

Oh, and I cracked a smile over their not-so-subtle shout out to Houston.

[StoOgE]

Just to clear one thing up about the jumbotron.

The screen is rumors to be 135'-150' wide and 50' tall. I would guess the screen itself will be 50-100 feet off the ground. The Aggies screen is set to be 90' tall with a 50' screen height. So I would guess the total height of the structure to be about 100 feet.

To give that size a different perspective, the screen will be 30% larger than the endzone. Big Stadium or not, the size of this thing will ensure it looks big.

[LiveattheOasis]

I was watching tv today and an advertisement for the norwood tower came up on screen, so I checked the website. This may be old news to many, or it may not. Anyhow they refurbished the building and are selling it as the first skyscraper in Austin. It hasn't been talked about since I have been on here so I thought I would post the link and see if anyone had any more information or connection to what is/has been going on there.

http://www.norwoodtower.com

[bluedogok]

The largest stadium screen that I have seen is the one at Reynolds-Razorback Stadium at the University of Arkansas in Fayetteville. It was pretty much the entire width of the field.

GoldenBoot had some good advice, almost all of our firms work on the architecture side is developer driven, on the interiors side it is broker driven. Most of the developers that we deal with were brokers before becoming developers. As GB said, networking is the biggest key, brokers tend to move around and get hired by those that they worked with somewhere else, and that is how you typically move up the chain of command.

[KevinFromTexas]

Originally Posted by LiveattheOasis

I was watching tv today and an advertisement for the norwood tower came up on screen, so I checked the website. This may be old news to many, or it may not. Anyhow they refurbished the building and are selling it as the first skyscraper in Austin. It hasn't been talked about since I have been on here so I thought I would post the link and see if anyone had any more information or connection to what is/has been going on there.

http://www.norwoodtower.com

Here are the stats.

The Norwood Tower was never really Austin's first skyscraper. If you want to get technical, here's the list.


1 - Old University of Texas Old Main - 160 feet - 5 floors - 1899, (demolished in 1935). The UT Tower now stands where this building once did.

2 - Texas State Capitol - 311 feet - 4 floors - 1888

3 - Saint Edward's University Main - 133 feet - 4 floors - 1903, this building was originally built in 1889. But it burned to the ground in 1900, and had to be rebuilt 3 years later. It was the first highrise south of the river in Austin.

4 - Scarbrough Building - 8 floors - 1911. This building is around 115 feet tall. This is actually what is considered to be Austin's first true skyscraper since it was the first conventional building, (office building). It was the city's first steel "skyscraper". The building is at 522 Congress, at the southeast corner of 5th Street and Congress Avenue.

5 - Littlefield Building - 136 feet - 9 floors - 1912. This was Austin's 2nd skyscraper. It was originally 8 floors, but a 9th floor was added a year after it was completed.

6 - Stephen F. Austin Hotel - 172 feet - 15 floors - 1924. This was the first highrise hotel along Congress Avenue. It's also noted as being the first lighted highrise along Congress Avenue. It also stood as Austin's tallest hotel from 1924 until 1981 when the Hyatt was completed. This was also Austin's 2nd tallest building from 1924 until 1929 when the Norwood Tower was built.

7 - Norwood Tower - 180 feet - 15 floors - 1929. This was the 2nd tallest building in Austin beating the Stephen F. Austin Hotel. It was the tallest commercial office building in Austin from 1929 until 1971 when 823 Congress was built.

Check out Emporis.com for more info on Austin's buildings.

[KevinFromTexas]

Say, has anyone seen that billboard at 13th & Lamar for The Shore Condos? There's a nice big rendering on it.

[LiveattheOasis]

Yeah I drove by it yesterday and today, I looked too long the first time and had to slightly swerve coming near the median. The rendering looks impressive.

[LiveattheOasis]

Is there nothing going on in our city?

[LookingUp]

Originally Posted by LiveattheOasis

Is there nothing going on in our city?

1. Spring is almost over, but that project isn't...yet. They're finally being more realistic - hopefully they'll get some construction docs and a contractor so they know what their "amenity-free" building will cost.

2. Novare-360 has hired Ziegler Cooper (Architects in Houston) to make some changes to the original "Spire" design.

3. Shore has been unable to get the necessary permits to open their Marketing Trailers on 5th Street (Next to Apple Bar), but, they've spent some money on billboards.

4. Milago Apartments are still on schedule.

5. ZOM's Monarch has done their demolition, but they haven't secured their financing.

6. Amli is financed and has begun excavation.

7. Block 21 is still in negotiations with the City. Latest word is "they hope" to complete negotiations by July 1st. Not sure if this gives the "consultants" hired by the City enough time to generate huge fees.

8. 555 at the Hilton is still selling and finishing units at prices of $400-500 PSF.

9. No further word on the resurrection of the Four Seasons Condo deal. Signed deal.

10. MetLife Apts on 3rd and Colorado not financed yet.

11. Tom Stacy Tower is still interviewing architects. No design yet.

12. Legacy deal (near Milago) to announce soon. Should be 300-400 rental units.

Maybe somebody has more update info. These deals are only real when they have financing. Of the above 12 items - only 4 have their financing. The others are either hopeful or doubtful until then.

[LiveattheOasis]

Thanks Lookingup,

Isn't MetLife suppose to be beginning here in May? Or am I thinking of AMLI?

[crewer]

Originally Posted by LiveattheOasis

Thanks Lookingup,

Isn't MetLife suppose to be beginning here in May? Or am I thinking of AMLI?

I have friends working with developers who told me it is definitely breaking ground in May. So unless they were misinformed...

I find it hard to believe that Metlife would not have financing.

[KevinFromTexas]

Info on the 21 Rio project in West Campus.

http://www.merriman-maa.com/

^ Go to "Portfolio" - "Architecture" - "Educational"

21 Rio is at the top of that list. There's 4 renderings at the site.