AUSTIN | Projects & Construction II - Page 58

GoldenBoot · #**1141** Posted **Jul 18, 2007, 6:55 PM**

Summer (May through August), Thanksgiving and Christmas/New Year's are usually "downtimes" for development announcements or updates...

Dale · #**1142** Posted **Jul 18, 2007, 6:58 PM**

Any new news on The Austonian ?

Strayone · #**1143** Posted **Jul 18, 2007, 7:28 PM**

^Thats a good question! I went to their website to see if any new stuff was added, not sure if it has been expanded but that site is pretty impressive. I guess the cost to put the site together is a drop in the bucket compared to any other aspects of a project of this size. Still it would be nice to hear what's up now and then from the Austonian people.

GoldenBoot · #**1144** Posted **Jul 18, 2007, 9:33 PM**

^^Their site plan should receive final approval sometime within the coming 30-60 days. This will allow them to apply for and obtain the necessary building permits. All-in-all, there is still the likelihood that we could see ground being turned at the site by the end of 2007.

Dale · #**1145** Posted **Jul 18, 2007, 10:07 PM**

Okay, thanks guys. I had thought they'd said summer, but I also realize that you usually have the requisate delays.

andrew.A..T..X · #**1146** Posted **Jul 19, 2007, 2:29 AM**

Any news on t stacy's tower? When is that suppose to start up?

jgouger · #**1147** Posted **Jul 19, 2007, 2:36 PM**

By M.B. Taboada
AMERICAN-STATESMAN STAFF
Thursday, July 19, 2007

Almost two years to the day after it was announced, the much-debated Spring condominium tower will break ground Tuesday.

The 42-story tower at Third and Bowie streets will have nearly 250 units, with the top floor, originally designed to accommodate four penthouses, already purchased by one buyer as a single living space.

Spring, soon to be under construction at the corner of Third and Bowie streets, will tower above west downtown, which upset some neighborhood groups.

Developers declined to name the buyer but said he is an executive from Advanced Micro Devices. They did not disclose the price.

So far, 85 units are under contract, with the least expensive one-bedrooms already reserved. One-bedroom condos start at $237,000 and have 575 square feet. The majority of the condominiums, two-bedroom, two-bath units, range from $430,000 to $530,000.

When developers debuted their plans in July 2005 for a 36-story tower, some neighborhood groups just west of downtown protested that it would be too tall for the area and organized opposition to a zoning change that would allow for extra height. The debate has been repeated with some other edge-of-downtown projects. But downtown neighborhood and business groups rallied behind Spring, and in late 2005, the City Council approved the zoning change. Developers later amended their design to the current 42 floors — 36 for condos and the rest for parking and ground-floor retail.

After the additional height was approved, developers Robert Barnstone, Perry Lorenz, Larry Warshaw and Diana Zuniga agreed to give $125,000 to the Austin Parks Foundation and $125,000 to a nonprofit that helps low-income homeowners avoid foreclosure.

The project, designed by Rafii Architects of Vancouver, British Columbia, will be a point tower, with a slender design that allows each unit to have glass-walled living rooms and bedrooms overlooking the city. The project will be completed in 2009.

"It's going to be a beautiful anchor for the west end of downtown," Zuniga said. "It's the point tower design that makes the project unique. Instead of having long hotel-like corridors, you have a real sense of privacy" with floors having from four to eight units.

Amenities include an in-house fitness center, private guest quarters and a pool. Spring developers are building a joint parking garage under the tower with the Schlosser Development Corp., which has a retail project at Fifth Street and Lamar Boulevard that will be completed in spring 2009.

[email protected]; 912-2942

andrew.A..T..X · #**1148** Posted **Jul 19, 2007, 3:25 PM**

i sure wish they could push spring a little more downtown, its kinda out of place. Hope it doesnt block any views. But mabye 360 will fill in that gap a little bit....

GoldenBoot · #**1149** Posted **Jul 19, 2007, 4:02 PM**

^^There will be plenty of infill if all proposed structures become a reality: the 10 & 15-story Gables Park Plaza project due south of Spring; Seaholm's 22-story hotel/condo structure; Whole Foods'/Schlosser Developments' 6-8 story development at 6th & Bowie (more office space for Whole Foods); CLB Partners' 33/34-story tower at 7th & Rio Grande; the 37-story Novare project at 6th & Nueces; the 40+ story Novare project to be constructed on the site of the current US Post Office; and the 36-story W on Block 21. Those are just some of the developments happening between Guadalupe St & Lamar Blvd.

Obviously this does not include the towers already under construction (AMLI on 2nd, 360, and The Monarch).

Also, if AMOA ever gets things moving forward...they have planed to team-up with a developer to construct a multi-story tower and museum on their property north of AMLI on 2nd.

GoldenBoot · #**1150** Posted **Jul 19, 2007, 4:04 PM**

Quote:

Originally Posted by andrew.A..T..X

Any news on t stacy's tower? When is that suppose to start up?

Still in design...Site plan has yet to be filed with the city.

tildahat · #**1151** Posted **Jul 19, 2007, 7:21 PM**

Quote:

Originally Posted by jgouger

So far, 85 units are under contract, with the least expensive one-bedrooms already reserved. One-bedroom condos start at $237,000 and have 575 square feet. The majority of the condominiums, two-bedroom, two-bath units, range from $430,000 to $530,000.

I bet the teachers and firefighters are lining up for those half-mil two bedrooms.

Sorry, this one just pisses me off because I went to the mat for it in a BCNA debate over affordability and then they jacked up the prices. If I still lived there I would have zero credibility now next time I spoke up about something. At least things like the Austonian don't make any pretense of what they are.
Downtown isn't going to be any more interesting a neighborhood than Westlake if only the rich can live there. Hell, same thing increasingly applies to central Austin and 78704.

ATXboom · #**1152** Posted **Jul 19, 2007, 9:30 PM**

Welcome to major city prices... try to live near downtown Chicago, Boston, Seattle, San Diego, etc... Austin is still cheap and they manage to have some interesting city desitinations and neighborhoods.

An extreme example... Redeo drive is mainly full of tourists. People aspire

These developments are the high points... once established the lower cost options will be infill and fringe neighborhoods no different than any other major city.

Austin is just growing up.

In regard to Spring being isolated... I don't think so. Check out the model Priller built.... if/when all proposed development is complete... not to mention new projects that will eventually surface the skyline will run from I-35 at the bridge to Lamar with decent infill all along the way. It should look nice and impressive.

AustinGuy · #**1153** Posted **Jul 19, 2007, 9:45 PM**

Quote:

Originally Posted by ATXboom

Welcome to major city prices... try to live near downtown Chicago, Boston, Seattle, San Diego, etc... Austin is still cheap and they manage to have some interesting city desitinations and neighborhoods.

Much higher property taxes in Austin should keep our prices much cheaper than any of those cities listed at least until the property tax situation changes. I would argue that these units aren't all that much cheaper when you take property tax into account.

evergreen1 · #**1154** Posted **Jul 20, 2007, 1:28 AM**

I have sold a lot of condos downtown. I have also bought a downtown condo in Vencouver. During the 3 years after the purchase I watched 8 new buildings get built on every side possible. The only effect so far is that the value of my condo has doubled.

I am always amazed how some people think they have some advance insight by being able to anticipate a BUILDING THAT WILL BLOCK MY VIEW! Of course these same people want prime views of the main skyline we have. So its never directly clear how much of a liability a new building on the horizon is.

I can say from lots of experience of all the reasons not to buy a condo this is not one of them. A high rise has such massive view opportunities nothing else comes close for giving such a sense of majesty.

So MichaelB we don't "bristle" because you mention other buildings. We may bristle cause we have to explain something that makes us sound dismissive of a concern. As far as all the new buildings...its all good news. Good architecture and good placement. Please note the buildings all getting more slender and taller. The point tower has come to Austin and won't leave for a while.

crewer · #**1155** Posted **Jul 20, 2007, 2:43 AM**

Quote:

Originally Posted by tildahat

Sorry, this one just pisses me off because I went to the mat for it in a BCNA debate over affordability and then they jacked up the prices. If I still lived there I would have zero credibility now next time I spoke up about something. At least things like the Austonian don't make any pretense of what they are.
Downtown isn't going to be any more interesting a neighborhood than Westlake if only the rich can live there. Hell, same thing increasingly applies to central Austin and 78704.

Spring pisses me off, too. I like the building, but frankly I think it's a disaster waiting to happen. I expect to see huge numbers of condos available at "reduced prices". Pity the speculators who think they're going to flip at higher prices.

ATXboom · #**1156** Posted **Jul 20, 2007, 5:49 PM**

Evergreen is on the money.... the more people downtown the better for creating a "T" market.... deep and wide. Views don't drive up value... the market does.

I beleive austin is in a unique position to move into a T market cycle... once critical mass is reached it will be like a growing animal that just needs to be fed constantly at a good pace [not at current pace... but good pace].... this is similar to what happened in Seattle, Vancouver, etc.

jgouger · #**1157** Posted **Jul 20, 2007, 6:52 PM**

Hey everyone...

Just walked by 360's construction site earlier and it looks like they will be significantly increasing the crane this weekend. They have 8 crane sections on site that are 20-25' each. I'm guessing that will bring their crane up to its final height.

KevinFromTexas · #**1158** Posted **Jul 20, 2007, 9:22 PM**

^ I think it'll still be a bit taller than that. Right now the crane is around 350 feet tall. 8 sections at 25 feet would make 200 feet, bringing it to 550 feet. The building itself to the spire is planned to be 563 feet. So unless they put the spire on with a helicopter, (which might actually happen, though not likely), they'll need the crane to be taller. Cranes usually hover over a building by about 30 to 100 feet. The crane for Frost Bank Tower was 85 feet over the roof. It was actually 600 feet tall, the tallest crane Austin has ever had at that time.

DTAustin · #**1159** Posted **Jul 20, 2007, 10:49 PM**

Quote:

Originally Posted by crewer

Spring pisses me off, too. I like the building, but frankly I think it's a disaster waiting to happen. I expect to see huge numbers of condos available at "reduced prices". Pity the speculators who think they're going to flip at higher prices.

Besides the bait and switch pricing routine that the Spring developers pulled, the main problem is the size of the one bedroom floor plans. The single bedroom floor plans are too small and too expensive.

jordan · #**1160** Posted **Jul 21, 2007, 1:50 AM**

575 is very small, I cant see anyone paying that amount, for that space. Spring my need to rethink that one.