There's a new 32-story condominium tower planned for West 7th Street & Rio Grande Street between Rio Grande and Nueces Street. The building will sit directy north of Katz's.
Rendering:
CLB PARTNERS
32-story condo may spring up downtown
From the Austin American-Statesman
http://www.statesman.com/business/content/business/stories/realestate/10/20//20downtown.html
DOWNTOWN AUSTIN
Condo high-rise could be Katz's Deli neighbor
CLB Partners plans 32-story project downtown at West Seventh and Rio Grande.
By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, October 19, 2006
CLB Partners plans to build a 32-story condominium high-rise at West Seventh and Rio Grande streets, extending the downtown residential development boom.
Pending approvals from the city, the project could get underway next spring, with its 160 units ready for residents in late 2008, said Bobby Nail, a partner in CLB's Austin office.
The building will be designed by the Austin-based architectural firm of Rhode:Hurt. The firm also is designing CLB's six-story Bridges on the Park project, under construction at Lamar Boulevard and Riverside Drive. Brett Rhode, one of Rhode:Hurt's founding principals, also was involved in the design of CLB's Austin City Lofts on West Fifth Street.
The new project would be built at the southeast corner of West Seventh and Rio Grande, behind Katz's Deli. A one-story building with several short-term office tenants would be razed to make way for the high-rise. The project would be built around the Ranch 616 restaurant.
"I always build around my favorite restaurants," Nail said.
Bridges on the Park wraps around the former Paggi House, which is being renovated and will reopen early next year as a new high-end restaurant and wine bar.
Prices are expected to start in the low $300,000s, with the largest units topping $4 million.
Nail said the parking garage will be built in the part of the site where height is limited to protect views of the state Capitol.
From the Austin Business Journal
http://austin.bizjournals.com/austin/stories/2006/10/16/daily29.html?jst=b_ln_hl
Austin Business Journal - 2:40 PM CDT Thursday
by A.J. Mistretta
Staff writer
In the latest move to transform the downtown skyline, a Dallas-based development company plans to build a 32-story condominium tower at the intersection of 7th Street and Rio Grande Avenue.
CLB Partners Ltd. and local landowner Mike McGinnis expect to break ground in spring 2007 on the unnamed project that would include 160 units and about 7,400 square feet of new retail space on the ground floor. The project is expected to cost more than $50 million.
Two floors of underground parking will be devoted to retail customers and five levels of above-ground parking for residents. A rooftop terrace, pool and spa will top the project.
The luxury units will range in size from 900 square feet on the lower levels up to 5,000 square feet at the top; the developer has not yet determined pricing.
Austin-based architecture firm Rhode:Hurt is designing the project and Austin-based Bury & Partners is handling the engineering.
The property extends from the corner of Nueces and 7th Street to Rio Grande and 7th Street, and includes the space occupied by restaurant and live music venue Ranch 616.
CLB Partners is working to preserve that business, granting the owners a 33-year lease and accommodating Ranch 616 with parking spaces in the tower.
"We think this is a very important part of our project," says Bobby Nail, partner in the Austin office of CLB Partners. "The Ranch is a project amenity as well as an Austin icon."
CLB Partners is the group behind the 82-unit Austin City Lofts, which was completed in 2003, and the 104-unit Bridges on the Park now under construction on South Lamar Boulevard. Nail says the Bridges project is already 40 percent pre-sold.
Nail says CLB Partners' past experience, coupled with Austin's forecasted job growth and lack of existing for sale housing in downtown, is leading the company to push forward quickly with the project. He says if construction starts as planned in spring of next year, the project could be ready for move-in by fourth quarter 2008.
The project has received the support of neighborhood groups such as the Old West Austin Neighborhood Association and the West End Austin Alliance. In his own letter in support of the project, Ranch 616 owner Kevin Williamson says he could not be more pleased about the plans.
"This business is my life," he writes. "This project does no less than save my business" by reducing the costs associated with parking.
A representative of the developers presented the project to the Downtown Austin Commission on Wednesday. CLB Partners is seeking a zoning change which would allow for greater density than is currently allowed. The commission unanimously approved the request. Next week, the project goes before the Austin Design Commission and the city's Planning Commission. It's set for a hearing before the City Council on Nov. 30.
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Not only that but already more proposals. If one proposal dosnt go through There will be another one right behind.
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