Update on the Post office development. There will be further news out on Monday also.
From the Austin American-Statesman
http://www.statesman.com/business/content/business/stories/realestate/08/26postoffice.html
Post office receives 6 offers for space
Developers submit ideas for transforming a prime tract in downtown Austin.
By Shonda Novak
AMERICAN-STATESMAN STAFF
Saturday, August 26, 2006
The U.S. Postal Service has received a half-dozen proposals for the prime block that houses its downtown Austin branch at Fifth and Guadalupe streets.
The Postal Service solicited offers from developers earlier this month to redevelop the block and build a new post office on part of the site or within a block of it.
Just before close of business Friday — the deadline for submissions — the Postal Service received six proposals, spokesman Sam Bolen said.
An exact count will occur Monday; some offers still may be delivered over the weekend, Bolen said.
The post office isn't releasing the names of the developers or details of their proposals, saying the process will remain confidential until a proposal is selected.
Officials in various postal departments will evaluate the proposals. A decision is expected by the end of September, Bolen said.
Some city officials, including Mayor Will Wynn, have long pushed for denser development on the block, where the post office occupies only about one-fourth of the site.
Atlanta-based Novare Group Inc. and its local development partner, Andrews Urban LLC, are among the bidders, according to correspondence between the City of Austin and U.S. Postal Service officials.
The two developers are building a 44-story condominium tower at West Third and Nueces streets.
"Our goal is to support Austin's vision for a diverse and vibrant core, so it's definitely something we'll pursue," Billy Holley, a developer for Austin projects at Novare Group, said earlier this month. Company officials could not be reached for further comment Friday. Wynn touted Novare's proposal in an April 17 letter to Michael Wolfe, a Postal Service official.
A new high-rise development at the existing site would not only be a "significant contribution to the revitalization of the area around Republic Square," Wynn wrote, but also would generate additional tax revenue and help advance the city's goal of creating a vibrant, 24-hour downtown.
Bolen acknowledged that the post office had an offer in hand but decided to seek other proposals "to explore all conceivable offers."
In an April 9 e-mail to the Austin American-Statesman, Wynn said he has been working to "have the mistake of the current downtown post office corrected" since his days as chairman of the Downtown Austin Alliance, which represents downtown business and property owners.
"In addition to poor design and a horrific pedestrian environment, the staggering underutilization of the land is sinful," Wynn wrote.