AUSTIN | Loren Hotel & Condos (211 S. Lamar) | 104 FEET | 8 FLOORS | U/C - Page 8

The ATX · #**141** Posted **Dec 2, 2015, 4:21 AM**

There was a brief mention of this project in a recent Austin Monitor article about Austin's density rules:

Quote:

The so-called Taco PUD at Riverside Drive and South Lamar Boulevard, which was approved with the proviso that the developer pay a fee-in-lieu of about $438,000, has not begun construction. The developer “is probably going to wait until the next cycle,” according to his attorney, Steve Drenner.

The article:
http://www.austinmonitor.com/stories...ore-stringent/

drummer · #**142** Posted **Dec 2, 2015, 6:17 AM**

All that kinda stuff makes my head hurt. I know it's important and I appreciate the need for regulations (when appropriate)...but man...so many conditions.

wwmiv · #**143** Posted **Dec 2, 2015, 10:34 AM**

That doesn't surprise me, actually. On the plus-side, however, that also means there's potential for them to capitalize on early mover status during the next cycle by increasing the scale of the project.

futures · #**144** Posted **Dec 2, 2015, 10:58 PM**

Really disappointing. Now we have a terrible eyesore at a wonderful location for years to come.

Ironically, by passing these requirements, developers now have more hurdles to get through to add more density (at any price point)...which could make things even more expensive.

Tech House · #**145** Posted **Dec 3, 2015, 1:38 AM**

Quote:

Originally Posted by futures

Really disappointing. Now we have a terrible eyesore at a wonderful location for years to come.

Ironically, by passing these requirements, developers now have more hurdles to get through to add more density (at any price point)...which could make things even more expensive.

I hope it's not many years to come. What is meant by "the next cycle" --- is this based on the tendency for development to come in waves, or is it referring to an exogenous cycle of some sort? I drove past that site a few days ago and was wondering what was going on with this project. It's one of my absolute favorite and it pissed me off when the NIMBYs were opposing it. How primo is that location? Walk to downtown or walk to Barton Springs, 15 minutes either way. That does not suck.

futures · #**146** Posted **Dec 23, 2015, 12:05 AM**

This project is dead. A Miami based restaurant chain, Pollo Tropical, is moving into the old Taco Cabana building.

At least we won't have an abandoned building.

JoninATX · #**147** Posted **Dec 23, 2015, 12:07 AM**

Quote:

Originally Posted by futures

This project is dead. A Miami based restaurant chain, Pollo Tropical, is moving into the old Taco Cabana building.

At least we won't have an abandoned building.

At least it's something.

drummer · #**148** Posted **Dec 23, 2015, 12:15 AM**

Wait, are you serious about it becoming Pollo Tropical or whatever?

paul78701 · #**149** Posted **Dec 23, 2015, 1:26 AM**

Quote:

Originally Posted by drummer

Wait, are you serious about it becoming Pollo Tropical or whatever?

He is. This was announced in the "Coming Soon" section of the most recent Community Impact paper. I wouldn't necessarily say the project is dead. It could just be on hold for a while.

I got the impression from quotes from Huston Street (that's who was behind this project), that he is a conservative investor that's afraid that things in Austin are getting too heated and was thinking about postponing for a bit. I wish I could remember and cite where I saw his comments, but it was a while ago that I read them.

Tech House · #**150** Posted **Dec 23, 2015, 2:40 AM**

This is ridiculous. Any investor who is nervous about developing one of the most prime pieces of real estate in Texas is a doddering fool. I wish this were an April Fool's prank. Is there anyone who doubts that the already-approved development would quickly sell out? They should at least test the market to see, I think they'd sell out before they break ground.

austlar1 · #**151** Posted **Dec 23, 2015, 4:04 AM**

I think the developer or property owner is a relative novice, and it would appear that they fear losing control or ownership of the project by bringing in other investors or lenders. Everything I have read about the property owner/s suggests this to be the case. If they would just sell the property, I bet it would be instantly developed.

wwmiv · #**152** Posted **Dec 23, 2015, 5:09 AM**

Quote:

Originally Posted by futures

This project is dead. A Miami based restaurant chain, Pollo Tropical, is moving into the old Taco Cabana building.

At least we won't have an abandoned building.

Pollo Tropical is owned by the same people who own Taco Cabana.

drummer · #**153** Posted **Dec 23, 2015, 5:35 AM**

Lame.

Tech House · #**154** Posted **Dec 23, 2015, 8:54 AM**

Beyond lame. This is one of the biggest disappointments of 2015. In case anyone has forgotten what was to become of that little junk yard, here's a refresher:

Quote:

Originally Posted by KevinFromTexas

Renderings from that link:

View from northeast

View from west

View from north

View from northwest

View from southeast

View from north along Barton Springs

wwmiv · #**155** Posted **Dec 23, 2015, 6:46 PM**

Maybe something better will happen once it gets redeveloped.

drummer · #**156** Posted **Dec 24, 2015, 1:40 AM**

Optimism is needed here. Thanks for that, haha.

tie_guy · #**157** Posted **Dec 30, 2015, 8:32 PM**

WELP

http://austin.eater.com/2015/12/30/1...ot-south-lamar

drummer · #**158** Posted **Dec 31, 2015, 12:25 AM**

I'm gonna pretend I didn't see that...and I'll keep denying that anything is there until something awesome goes up...

Tech House · #**159** Posted **Jan 3, 2016, 3:16 AM**

Quote:

Originally Posted by drummer

I'm gonna pretend I didn't see that...and I'll keep denying that anything is there until something awesome goes up...

That's a good plan, and I will join you in your denial. If enough of us deny it then maybe it will disappear. Same for global warming, the deficit, our gray hairs and middle-aged bellies (where applicable), and death itself.

The ATX · #**160** Posted **Mar 13, 2016, 9:30 AM**

I thought we were done discussing this apparently cancelled project. But the Taco Cabana was demolished this past week. I was under the impression that it was just going to be remodeled and reopened as a Pollo Tropical.

Also, the first Austin area Pollo Tropical is U/C in Kyle. They have several S.A. locations.