KXAN reported on their 5:00 PM news that the new Novare apartment tower should break ground in May and be completed by summer 2013. (That's seems a little too quick of a construction time frame.) They also said it should look similar to the 360 Tower. That makes sense because all of Novare's towers are real similar.
Not at all really if you think about that they probably have been working on all the pre construction crap before they announced the building. Its only a 23 floor building, its not a 40 plus tower so I can see that timeframe happening with the exception of an unforeseen weather event happening that could cause construction to slow.
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Well, I just thought I remember walking down that street recently and seeing houses on the block, but it obviously was a different area. It just looked like some houses were blocked by trees in that photo that you couldnt see too well. Glad to know its vacant though.
The design is classic modern with a mostly glass exterior.
Which sounds different than the other building they are doing. Maybe they are just going to use much the same plan with different exterior to make it look different than the one in Atlanta? If so that is cool with me. =D
The other..
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We believe our addition of 320 apartment residences and ample and diverse ground floor retail to Rainey Street will play a significant role in fulfilling the city’s vision for the Waterfront District and provide needed tax revenue for the Waller Creek Tunnel project,” said Taylor Andrews, president of Andrews Urban.
Which just happens to be the same architects as the Atlanta project by the same name! Hum..........
Gotta LOVE the originality with these folks. I will say, they busted out a taller/sleeker version of "The Spire" for Austin... which I'm quite happy with
As an apartment locator, Lisa Sanders encounters the Austin area's rental squeeze on a daily basis.
Sanders, who works for All Austin Apartment Locating, recently went to show an apartment near Capital of Texas Highway (Loop 360) and RM 2222. Despite having called beforehand, the unit had leased by the time she and her client got there within an hour.
"It was a two-bedroom with a garage, for $1,209 a month, and it leased within minutes," Sanders said.
That's just how hot the Austin-area apartment market is these days, as heightened demand due to job and population growth and a lag in new projects have combined to make it the hottest sector of the commercial real estate market.
The Austin-area apartment market has been on a hot streak for at least 18 months, and while the rush for rentals is making for happy landlords, tenants are feeling the pinch in their pocketbooks, with rents hitting an all-time high.
The trend is expected to continue this year, experts say, as it will take time for supply to catch up to demand, even though the development pipeline for Central Texas is bulging with 10,000 to 12,000 planned apartment units as developers rush to fill the void.
Any estimates as to how tall the new apartment project will be?
The Shore is 22 floors and is 257 feet tall. Windsor on the Lake (formally Legacy) - the tower immediately to the south of this new building, is 339 feet tall with 31 floors.
So I'd guess it'll probably be 260 to 280 feet tall. It might be taller if they add any decorative top to it. And since it's Novare I'm sure they will.
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Gotta LOVE the originality with these folks. I will say, they busted out a taller/sleeker version of "The Spire" for Austin... which I'm quite happy with
LOL! Yeah.... it's a smart business plan. They do cut and paste projects. Which there is nothing wrong with. Many archtects and developers do it to some degree. I wish they had a little more forward thinking design sense. I know you know......
Samsung Electronics Co. plans to expand its just completed chip factory operations in Austin, according to a report by Bloomberg new service.
The South Korean electronics giant has asked for proposals from banks to borrow as much as $1 billion to expand production at its factory in Austin, which is one of the largest in North America.
The company had reported in early December that its latest plant expansion, which cost $3.6 billion, was running at full production.
Samsung’s Main Fab in Austin produces both flash memory and low-processor chips, including those made for Apple Inc.’s portable devices, including smart phones and tablets.
Apple is the largest customer for Samsung’s chip business, which is the second largest in the world. And sales of Apple smart phones and tablets have expanded enormously in the past year.
Isn't that latest $3.6 billion their second $3.5 billion expansion? I remember reading in all it is supposed to be a $9 billion project. Maybe this is the last little part? I had kinda figured that last part that just came online in Nov was the last part of it.
Samsung may spend $1 billion to upgrade Austin production
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Samsung Electronics Co. said Tuesday that it will spend heavily this year perhaps $1 billion or more to boost the production of its manufacturing complex in Austin for more advanced low-power processors for mobile devices.
The company disclosed its expansion plans after it told investment banks that it planned to issue up to $1 billion in bonds to pay for expansion in Austin. The bonds, when issued, would be the first international bonds from the South Korean company in 14 years.
"We will continue to invest in capital equipment for the factory, and it is a substantial investment," company spokeswoman Catherine Morse said in Austin.
The expansion announcement comes barely a month after Samsung said it had started high-volume production at the latest $3.6 billion addition to its manufacturing complex in Austin. The addition is known as the second phase of the company's 1.6 million-square-foot Main Fab production plant. Half the plant makes flash memory chips used in cellphones and other devices, but the newest part of the plant makes low-power integrated processors that are used in smartphones, tablets and other mobile devices.
Most of the company's additional spending in Austin this year will be for equipment going into the newest part of the factory complex. The additional equipment, however, probably won't result in a significant number of new jobs. Morse said she expects Samsung's local employment to "remain fairly steady" at about 2,400 employees.
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