AUSTIN | Waterline (98 Red River) | 1,022 Feet | 73 Floors | U/C

[texastarkus]

Proposed project: 3 downtown towers, one up to 65 stories


Two Austin developers are proposing a $500 million mixed-use project downtown that — if it happens — would change the skyline with three new towers, including a high-rise with condominiums and hotel rooms that could become Austin’s tallest building.

See AAS Article:

http://www.mystatesman.com/news/busi...atesman_launch

[_Matt]

This is great.

Minor annoyance: Does the tower really need to look so much like the Austonian?

[hookem]

Originally Posted by _Matt

This is great.

Minor annoyance: Does the tower really need to look so much like the Austonian?

That was my first thought, too. Would have liked to see some more interesting crowns. But I imagine with 3 similar towers, the types of crown you could use is very limited -- otherwise it would look strange. You couldn't have 3 towers with a common theme looking like Frost or 360.

I do like the asymmetry and variation of height, which is especially pronounced at the lower levels/base. I like that the actual "ground" level is almost undefined with greenery and open spaces on the tiers and the bridges. Should be a treat to walk around there.

[austlar1]

It is the sexiest building site in downtown Austin, especially the part along the creek across from the Four Seasons. It would be nice to get something special built there. The Fort Worth based equity partner does not have a very impressive real estate portfolio. They are mainly an oil and gas outfit. Here is a link to their RE holdings. http://www.klabzuba.com/realestate/portfolio.html

[KevinFromTexas]

Info from the article:

$500 million mixed use project

It'll occupy 3 acres at East Cesar Chavez and Red River streets near Waller Creek.

Condos/Hotel tower - 65 floors

Apartment tower - 35 to 45 floors

Office tower - 17 to 20 floors

The project would include retail and likely restaurant space in a riverwalk setting.

Groundbreaking - mid to late 2014.

They plan to file a site plan with the city within 90 days.

[JAM]

Looks too good to be true. I love how the rendering casts a shadow over the edge of the older condos that are nearby, as if they are saying, better lower your sale price or we will lower it for you I think they have the shadow wrong though. I don't think the sun gets that far north.

[The ATX]

WTF is that prominent roundish thing in the lower left of the the rendering?

[the Genral]

Originally Posted by Hill Country

WTF is that prominent roundish thing in the lower left of the the rendering?

Looks like the convention ctr to me.

[LoneStarMike]

Originally Posted by Hill Country

WTF is that prominent roundish thing in the lower left of the the rendering?

the Genral is right. It's the convention center.

[The ATX]

I never noticed that before. That must be the shortest, least significant observation lookout in Austin.

[KevinFromTexas]

It's actually a rotunda, but I would imagine there is a balcony up there somewhere for maintenance.

[migol24]

From the looks of the renderings it doesn't seem like the building will have much street interaction. I guess I can live with that... but it be nice if there were street interaction.

[AustinSky]

I hope this gets built. Being a Rainey Street resident I would love to see something like this added in my backyard, but after seeing what Sutton did with the property on Rainey Street I remain skeptical.

It really bothers me to think what Sutton did with that deal.

They received all those permits to remove all those awesome houses and then flipped the property to some Houston development company called the Dinerstein Companies. I hope to god that company doesn't build anything like they have in their portfolio. They should keep places like that in Houston and certainly not on Rainey Street! And from what I understand the building there will be 8 stories? Lame..

As for this place it seems like a carbon copy of the Austonian. Its like they just pasted the image and added it to their initial designs. Also that equity company has no history of developing something close to this scale on the real estate end of their portfolio. I would be absolutely shocked if this one gets built. Shocked!

Again, I hope it happens....but it seems more pie in the sky if anything.

[alwaysmiling]

Interesting take austinsky, can't say I don't disagree with you. Great looking renderings but seems far fetched with the fairmont going in across the street and all the other developments, but maybe there is room for it come the next 3-4 years. Every week I'm reminded that Austin has far outgrown supply of everything and even with new hotels, condos, and office space going in there is still high demand and room for more.... I guess time will tell but very cool that a 65 floor project might be on the horizon. AustinStrong!

[hookem]

I wonder what Austin's ratio of proposed to actually built tower projects for the last decade would be... and how it compares to other Texas cities.

I know lots of projects failed or were just pipe dreams (T Stacy), but even with those, it seems like 50%. Which is good, considering the bust happened during that time. Anyway, if that's the rate, between the Fairmont and this, we have at least a very good chance of a new tallest within about 2-3 years.

[KevinFromTexas]

KVUE did a mock rendering of the project. It should be noted that these are NOT the designs. ^The building on the left kind of looks like One Canada Square in London, and the one on the right is Houston's Memorial Medical Plaza (shrunk a bit). I'm not sure what building that is in the middle.

Proposed towers possibly Austin's tallest buildings

[Spaceman]

Originally Posted by hookem

I wonder what Austin's ratio of proposed to actually built tower projects for the last decade would be... and how it compares to other Texas cities.

I know lots of projects failed or were just pipe dreams (T Stacy), but even with those, it seems like 50%. Which is good, considering the bust happened during that time. Anyway, if that's the rate, between the Fairmont and this, we have at least a very good chance of a new tallest within about 2-3 years.

Hookem you are correct...Most of these projections are pie in the sky for sure..The Fairmount is 50% at best..This Rainey three tower complex has less than 5%..I would like to be more positive but this is all boots and no cattle. It gets boring after a time. Build it or shut the f--k up!!!!!

[H2O]

Originally Posted by Spaceman

Hookem you are correct...Most of these projections are pie in the sky for sure..The Fairmount is 50% at best..This Rainey three tower complex has less than 5%..I would like to be more positive but this is all boots and no cattle. It gets boring after a time. Build it or shut the f--k up!!!!!

With your abysmal record at predicting failure (virtually every project that has started construction since you joined this board), this project is certain to come to fruition.

[The ATX]

Originally Posted by H2O

With your abysmal record at predicting failure (virtually every project that has started construction since you joined this board), this project is certain to come to fruition.

Exactly. Spaceman is the most cynical person that I have never met.

[Spaceman]

Originally Posted by Hill Country

Exactly. Spaceman is the most cynical person that I have never met.

Right you are..I'm headed to watch the topping out of the planeterium and the cloud touching county complex..Also I'm meeting Tom Stacy in his office atop the 800 ft building at 5th and Congress..What???? Wait a minute, this just in..Someone says those projects are not being built........
By the way you quote Trent"Walking Funeral" Reznor and call me cynical..