AUSTIN | 70 Rainey | 419 FEET | 34 FLOORS | Complete - Page 20

The ATX · #**381** Posted **Aug 16, 2016, 7:54 AM**

The latest on the tower crane installation date (which has been postponed multiple times) is that it is now planned to go up between 09/12 & 09/14.

https://www.austintexas.gov/devrevie...erRSN=11531202

ivanwolf · #**382** Posted **Aug 16, 2016, 5:10 PM**

Quote:

Originally Posted by The ATX

They have been posting floor plans on their Facebook page since the project was announced. You'll have to scroll through their photos to find them. But it does seem like a major marketing failure to not include more info on their webpage.

Yeah I have seen like 5 or so but that has to be no where near the number or actual plans they will have. Those were likely just rough drafts to get interest up for marketing.

The ATX · #**383** Posted **Sep 2, 2016, 3:54 PM**

Columns are being poured, so this one is now officially U/C.

https://www.facebook.com/SeventyRainey/

The ATX · #**384** Posted **Sep 19, 2016, 8:23 PM**

The cranes base was installed.

https://www.facebook.com/SeventyRainey/

the Genral · #**385** Posted **Sep 20, 2016, 12:14 AM**

It looks crooked

Downtown_Austin · #**386** Posted **Oct 10, 2016, 9:08 PM**

I am ready to see this one start going vertical. Site has been curiously absent any workers for a week or so.

The ATX · #**387** Posted **Oct 10, 2016, 9:45 PM**

That's very troublesome. They started pouring cement for a column a month ago. For them to stop work after that is a definite sign that there is a problem with this project.

The ATX · #**388** Posted **Oct 10, 2016, 9:59 PM**

This project has had false "imminent starts" going back to the beginning of the year. The crane installation has been delayed a few times and IIRC the latest crane related permit expires on 10/27. The construction photo updates on their Facebook page have consisted of the official groundbreaking, a cement pouring photo Op and a photo of the crane base. All those give a sense of progress, but progress stopped after the crane base photo. Also, I don't recall mention of the financial/equity partner(s) in the groundbreaking articles. But I didn't go back and re-read any of them.

loonytoony · #**389** Posted **Oct 10, 2016, 10:27 PM**

Quote:

Originally Posted by The ATX

Also, I don't recall mention of the financial/equity partner(s) in the groundbreaking articles. But I didn't go back and re-read any of them.

I don't believe they have all financing secured yet.

austlar1 · #**390** Posted **Oct 11, 2016, 5:09 AM**

I have always been a bit skeptical about this project, mostly because of the rather improvised marketing efforts. Hope it is just a temporary pause.

The ATX · #**391** Posted **Oct 11, 2016, 5:54 AM**

Quote:

Originally Posted by austlar1

I have always been a bit skeptical about this project, mostly because of the rather improvised marketing efforts. Hope it is just a temporary pause.

They're marketing their units without a sales center which seems to be an unusual practice (at least in Austin.) Their webpage shows three of the seven penthouse units as sold, but they are definitely soft pedaling their marketing efforts. It almost seems like this is a spec building.

the Genral · #**392** Posted **Oct 11, 2016, 6:11 AM**

Pardon my ignorance, but what is a spec building? My guess is the buyers get to have their units built to their specifications rather than choose from a specific incorporated floorplan.

The ATX · #**393** Posted **Oct 11, 2016, 6:20 AM**

Quote:

Originally Posted by the Genral

Pardon my ignorance, but what is a spec building? My guess is the buyers get to have their units built to their specifications rather than choose from a specific incorporated floorplan.

It's spec as in speculative. Build it first; then worry about selling units.

GoldenBoot · #**394** Posted **Oct 11, 2016, 5:46 PM**

In this day and age, no financial partner (bank, REIT, etc) would fund construction of a spec high-rise condo development.

ATXPhil · #**395** Posted **Oct 18, 2016, 4:53 AM**

A friend of mine who lives on Rainey said he received a hearing notice for the developer with the Historical Commission and speculated that this may be why work has stopped. I believe the project has cleared all hurdles with the city but the Historical Commission hearing may be impeding this temporarily?

The ATX · #**396** Posted **Oct 18, 2016, 5:39 AM**

They have a post on their Facebook page from a few days ago saying they are in between phases and are just waiting for the "big crane" to arrive. I don't believe that and personally think they don't have all their financing lined up. This looks like another ZaZa. They have just been creating a perception of progress (and doing a good job of it I might add.) Even if it really is taking a while for their "big crane" to arrive, I would think that they would still be building columns and doing other site work while they wait.

Homecreek · #**397** Posted **Oct 18, 2016, 5:04 PM**

It could be something was found in the ground with possible historical importance. They would have to stop while it is analyzed.

KevinFromTexas · #**398** Posted **Oct 20, 2016, 12:45 AM**

New rendering of the podium amenity deck.

Quote:

70 Rainey features over 31,000 SQ. FT of private residential amenities including: an infinity edge pool, landscaped deck with cabanas, fire pits with seating, dog park, community garden, therapeutic plunge pool, gaming area, outdoor kitchen, yoga deck, steam showers, fitness facility, saunas, state-of-the-art theater, clubhouse and lounge, private dining, catering kitchen and more.

70 Rainey Luxury Condominiums - https://www.facebook.com/SeventyRain...type=1&theater

the Genral · #**399** Posted **Oct 20, 2016, 2:23 AM**

That looks like something out of a Thomas Kinkade painting. Seems a bit ambitious given our brutally hot summers. I think the best feature is the transition between the parking and residential tower. The vertical address number could be a 70 or an 'R'.

The ATX · #**400** Posted **Oct 20, 2016, 2:44 AM**

All I see are more smoke and mirrors. Let's see some actual sustained construction. I'm beginning to think that those two guys in the cement pour photo op a few posts up were actors and not actual construction workers.