AUSTIN | Gables at Park Plaza | 223 FT | 18 floors | U/C | T.O.
Quote:
Friday, April 16, 2010 Downtown Austin’s first new multitenant office tower planned in nearly a decade 15 stories to rise next to Seaholm site
Austin Business Journal - by Francisco Vara-Orta ABJ Staff
Austin real estate developer Capital City Partners LLC is planning to build downtown’s first new major multitenant office tower in nearly a decade along the banks of Lady Bird Lake.
Dubbed Park Plaza, the planned 15-story tower will feature 189,000 square feet of predominately Class A office space off the northeast corner of West Cesar Chavez Street and Lamar Boulevard — next to the newly opened Gables Park Plaza residential complex. Gables owns the 1.8-acre tract where the new office building is planned, and has contracted with Capital City to build and lease the structure, which will also include approximately 10,000 square feet of ground-floor retail space. Dirt could turn as early as October.
While office vacancy rates have increased as a whole in the Austin market during the downturn, Class A office space downtown has historically fared better throughout the last decade well into the recession, with today’s rate at 17 percent compared to 25 percent in 2004 in the Central Business District, according to Oxford Commercial data.
Notice that the rendering also shows the completed Pfluger Pedestrian Bridge across Cesar Chavez.
And for reference, here are some models we've seen of the site showing the two buildings. Originally, the shorter of the two was planned to have apartments, that hasn't changed. But the taller one was planned as condos, now apparently it'll be all office space.
The design for the office tower is slightly different, but I have a feeling this model still gives a pretty good idea of the height, shape and placement of the 15-story building in relation to the shorter 8-story apartment building.
This also shows the Pfluger Pedestrian Bridge completed with the segment over Cesar Chavez.
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Yeah, it seems like the shape of the building hasn't changed much. This perspective is interesting. I'm a big fan of narrow pedestrian corridors like this.
Yeah, it's an interesting project. I'm looking forward to seeing that whole area built out and finished.
The height seems to be around 200 feet, which I think one article actually quoted. That's not too tall really, less than half the height of Spring, and at this point it would be the 3rd tallest in the West End. And eventually the 4th tallest if Shoal Creek Walk gets built just a few blocks to the north.
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My girlfriend has a dog named Kevin.
Yeah, it's an interesting project. I'm looking forward to seeing that whole area built out and finished.
The height seems to be around 200 feet, which I think one article actually quoted. That's not too tall really, less than half the height of Spring, and at this point it would be the 3rd tallest in the West End. And eventually the 4th tallest if Shoal Creek Walk gets built just a few blocks to the north.
I really like the way that area is turning out, especially as you approach it coming down CC off Mopac heading towards DT. It has a presence and grandeur that I can't quite place my finger on or put into words. The way the lawn is laid out, and how the hill rises up with Spring, Monarch and 360 in the background seems to invite one into the city. Especially as you approach it at dusk and everything is lit up but you can still make out the colors of the grass in the area.
Another downtown apartment project, this one by Gables Residential, is expected to start in early 2012. Gables Park Plaza II would be adjacent to the Gables Park Plaza project at North Lamar Boulevard and West Cesar Chavez Street.
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My girlfriend has a dog named Kevin.
__________________ Wizard's First Rule: People are stupid; given proper motivation, almost anyone will believe almost anything. Because people are stupid, they will believe a lie because they want to believe it's true, or because they are afraid it might be true.
I think this is quite possibly gonna be my favorite skyline view. And thanks mopacs for the photos. I have to say I missed your photos. You're very generous with them and looks like you put lots of work into them. Thanks again.
BTW, is it just me or does it look like the frame is bent on the second photo? I'm sure it's just the wood sustaining the frames or something but it looks like its gonna tip over and fall. lol
I think this is quite possibly gonna be my favorite skyline view. And thanks mopacs for the photos. I have to say I missed your photos. You're very generous with them and looks like you put lots of work into them. Thanks again.
BTW, is it just me or does it look like the frame is bent on the second photo? I'm sure it's just the wood sustaining the frames or something but it looks like its gonna tip over and fall. lol
That does looks like some shoddy construction from that perspective. I wonder how the rest of the building will stay supported if the first floor is like that?