Austin Development News

[JDawgboyATX]

Since suprisingly nobody has created a thread for the Austin Area, I will start one. Especially since there is so much going on. Here are just some of the few projects either proposed or are now under construction.

5th at Congress Tower

When built, this will be the tallest building in Austin or at least the developers hope it will. Another building has recently been announced that will be Challenging its height.

705' or possibly more...
47 stories.





Congress Condominiums

This building is proposed for the 200 block of Congress Avenue at 2nd street. The developers are claming this building will be the tallest in Austin.
height 700' at least, it could go higher.
48 stories.



360 tower
This building is currently under construction and will be the tallest building in Austin once built until the two mentioned buildings above get built.
height 581'
44 stories



101 Metlife

This building will hopefully start construction within the next month or two. It was recently re-designed from 28 stories to 36 stories.
height at least 400'




Ill get some more projects up ASAP. If anybody els has info for the Austin area please feel free to post. Would like to see as much info on the projects in the Austin area as we can get.

[Raleigh-NC]

That is one Hell of a list of truly large projects. I had no idea there were so many towers that compete for the next tallest in Austin. Great job!!! Keep us posted.

[JDawgboyATX]

Originally Posted by Raleigh-NC

That is one Hell of a list of truly large projects. I had no idea there were so many towers that compete for the next tallest in Austin. Great job!!! Keep us posted.

Yes there is a skyscraper war going on here, and Austin is undergoing a huge transformation in downtown. In just the past 2 years 30 projects have been announced, almost half of them are 20 stories or higher with announcments for new proposals happening at a rate of just under 2 months. Infact just yesterday another announcment came out about two 30 story twin towers for the southeast section of downtown. Here is the artical...

From the Austin American-Statesman
http://www.statesman.com/business/co...2townlake.html

DOWNTOWN DEVELOPMENT

Developer plans hotel, condominium towers on Town Lake

Developer planning 30-story skyscraper project by Town Lake



By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, June 22, 2006

An Australian developer plans to build two skyscrapers, one a luxury condominium tower and one a hotel, anchoring a $250 million project that would transform the skyline along Town Lake downtown.

The project is slated for the southwest corner of Red River and East Cesar Chavez streets. Constellation Property Group has a contract to buy the three-acre site, across the street from the Austin Convention Center, from local developers Perry Lorenz and Robert Knight.

Constellation's condo and hotel towers each would be about 30 stories. The project also would include ground-floor retail and an office building of about eight stories.

Part of the land was once envisioned as the site of a headquarters for software maker Vignette Corp., but that project evaporated with the tech bust. In the past year, however, rising demand for downtown living has spurred new interest in property east of Congress Avenue.

The 13-story Milago condominiums on Rainey Street opened in May. Ardent Residential plans an apartment and condominium high-rise adjacent to the Four Seasons Hotel. High Street Residential is developing a 22-story condominium/hotel project at Red River and Davis streets.

Constellation President Eugene Marchese said he expects the land sale to close in September.

With the necessary zoning in place, construction could start in mid-2007 and take about three years to complete, said Chris White, senior associate for Marchese + Partners International Pty Ltd., which designs Constellation's condo projects.

White said the designs would involve slender towers built above a several-story podium level. The so-called point tower approach allows for high density without blocky, view-obliterating structures.

"They'll be pretty special buildings to anchor that end of downtown," Marchese said.

Marchese said Constellation is negotiating with two hotel operators but declined to identify them, citing confidentiality agreements.

Constellation has another ambitious project in the works, at the northeast corner of Interstate 35 and Riverside Drive. If the City Council approves a needed zoning change today, the company plans to start work soon on the complex, which will have four condominium buildings of descending heights, with an 18-story tower on Riverside and four-story buildings along the shore.

The new downtown project, tentatively named Red River, is bounded on the west by Waller Creek, where city officials are trying to revive plans for a flood control project. The goal is to open the door to development that could result in an Austin version of San Antonio's popular River Walk district of cafes, shops, hotels and other attractions.

Constellation plans to meet with the city next month to discuss Waller Creek upgrades, Marchese said.

"We're excited about what they're doing, and they're certainly going to be excited about what we're doing," Marchese said.

The site's proximity to Waller Creek was one of its selling points, White said.

"Certainly the activation of Waller Creek is a critical element to the success of (our) project and will really open that area up to the public," White said.

Mac Pike, chairman of the Sutton Co., an Austin-based real estate development company, agreed.

"It's a great site that our company has looked at over the years, and we think that a project such as Constellation's could transform that area into a very viable retail/mixed-use destination in downtown."

A collection of small buildings on the site would be razed for the project.

Constellation's project is one of more than a dozen residential projects planned or under construction downtown as the city works toward a goal of having 25,000 people living there in the next 10 years.

As with other downtown residential projects, it costs to live in a vertical neighborhood. Marchese said one-bedroom units could start at about $350,000; two-bedroom units could start between $400,000 and $500,000; and units on the upper floors could range from $1.5 million to $2 million.

Austin is one of four U.S. cities in which Constellation has acquired land for condominium developments. The others are Phoenix, Las Vegas and San Diego.

Marchese founded Constellation 12 years ago in Sydney and has developed about 10,000 condominium units in Australia, he said.

snovak@statesman.com; 445-3856

[JDawgboyATX]

This was recently posted on the City Of Austin website showing some of the projects going up in part of downtown.



Here is the link to take a closer look.

http://www.ci.austin.tx.us/downtown/...west_may06.pdf


Honestly some of the info that they have put in there is old/outdated. Whoever made it didnt update the info on it. But the 101 Colorado will be 36 stories and the Spring will not start untill Jan 2007.

[Raleigh-NC]

Not that I ever underestimated Austin, but I am truly surprised that so many great proposals appeared at the same time. I am truly happy for you guys. That list with the projects is also a great source of information. Hopefully we can count on you for some construction updates

[nothcaylina]

Great to see. Austin is really on the move, and one of the truly best up and coming cities. Like Austin, the Raleigh-Durham area is beginning to grow upward--after long being considered a quality of life college area. Congrats to you guys, and I'd love to see some things like that in the Triangle.

[JDawgboyATX]

Originally Posted by Raleigh-NC

Not that I ever underestimated Austin, but I am truly surprised that so many great proposals appeared at the same time. I am truly happy for you guys. That list with the projects is also a great source of information. Hopefully we can count on you for some construction updates

I will definatly do my best at keeping up to date with the projects. Austin right now is going through a huge downtown renassance. Downtown is hot for residential development and with the city pushing for 25,000 residents in downtown in the next 10 years. We have had a flood of huge residential highrise proposals. on the first of every month Ill actually be going downtown to take pictures of the progress of construction and I will post them up.

Here is another project that has started initial construction called the Shore. It will be 22 stories and will actually be two towers very close together. One side will be hotel. the other side will be Condos. And of course the picture will not come up give me a bit and Ill post it up... Sorry.

[atx001]

Here's a larger picture of the building at 5th and Congress. Note that the existing Bank of America building (on the left) will be renovated along with the construction of the new tower. In the end it will be one single complex.


This building will be block 22 (see link below) of the 2nd street retail district.

Block 21 is the only one left to start construction...
http://www.2ndstreetdistrict.com/retail.html

What is shown here and by JDawg is only a handful of the many projects. I will try later to get more information on the other projects and post it.

[JDawgboyATX]

Thanks for your help atx001 that would be a huge help. Also in a few days I will be in Downtown to take pictures of the progress of some of the construction sites.

[JDawgboyATX]

Update on the Shore Condos/ Kimpton Hotel Towers. The official groundbreaking ceremony was held today and full construction has now begun.

[Nic]

SAMSUNG

Samsung begins gearing up for new plant
Chip maker starts to hire and train some workers as construction moves ahead.
By Kirk Ladendorf

AMERICAN-STATESMAN STAFF


Thursday, June 29, 2006

Samsung Electronics Co. is moving full-speed ahead on the construction of its second Austin semiconductor factory, which will be known as Austin Fab 2, or A².

The building shell of the massive project is expected to be completed in June 2007, with the installation of equipment coming sometime after that. The start of memory-chip production in the factory is estimated to happen in late 2007 or 2008.


Jay Janner
AMERICAN-STATESMAN


Samsung acknowledges that the Austin project is big, but the company has been reluctant to say exactly how big.

"It is going to be one of the largest fabs in the United States," company spokesman Bill Cryer said.

The company has said the new building's footprint will cover an area the size of nine football fields.

The new factory, which will process silicon wafers that are 300 millimeters (roughly 12 inches) in diameter, is expected to be about three times the size of the company's existing factory in Northeast Austin.

The new fab will be the first new chip factory in Central Texas in a decade. Only Samsung, Freescale Semiconductor Inc., Spansion Inc. and Cypress Semiconductor Corp. still make chips here.

Five fabs have been closed since 2001. Samsung built the most recent fab with its original plant in 1997.

The original projections for the cost of the new factory were $3.5 billion, and some industry analysts expect the project will cost more.

Samsung isn't giving a price tag for the project yet.

The new factory is expected to employ about 900 people including Samsung employees and workers from supplier companies.

Samsung already has begun hiring workers for the project.

"We are recruiting aggressively," Cryer said.

A recent help-wanted advertisement said the company is hiring to fill a variety of engineering and technician positions, as well has human resources and training jobs.

More than 100 engineers hired for the new factory are in training in South Korea this summer at Samsung's existing factories for 300-millimeter silicon wafers.

The complexity of the new technology requires extensive training, said Cryer, who said he expects virtually all the new factory's engineers to receive some training in South Korea. They will spend months setting up the equipment and assembly lines within the building.

Hensel Phelps Construction Co. is the local contractor for the project, and Samsung Engineering and Construction is the general contractor. The architect for the project is Page Southerland Page LLC.

kladendorf@statesman.com; 445-3622


It is also worth noting Samsung recently completed a $500 million upgrade to the existing plant built in 1997. Austin is Samsung's only chip manufacturing site outside of S. Korea.

[Nic]

Condos fit for a champion break ground
Tour de France champ Armstrong will be one of the investors.
By Shonda Novak

AMERICAN-STATESMAN STAFF


Thursday, June 29, 2006

Developers broke ground Wednesday on the Shore, a condominium tower on downtown Austin's southeastern edge. When completed, the 22-story building may house one of the city's luminaries: seven-time Tour de France champ Lance Armstrong.

Armstrong, 34, confirmed he is an investor in the $55 million project being developed by High Street Residential, a subsidiary of Dallas-based Trammell Crow Co.

About half of the units at the Shore, a $55 million project being developed by High Street Residential, are already under contract, a sales manager says.

Armstrong also has reserved a unit on an upper floor of the lavish high-rise now under construction at the corner of Red River and Davis streets.

The biking champion also has a house in Central Austin and a ranch in Dripping Springs, which he said he will keep.

The tower will have 192 units, with many (including Armstrong's) offering expansive views of Town Lake and downtown and easy access to the hike-and-bike trail, said Jamil Alam, principal with Trammell Crow in Austin.

Those were selling points for Armstrong.

"I think it is the coolest project in downtown," Armstrong said in a statement issued by his publicist. "Too many projects get announced and too few actually get built; this building is already under construction."

With about half of the units already under contract and another 70 units reserved with a $3,000 refundable deposit, the building is 80 percent committed, said Ian Stonington, the project's sales manager with Dallas-based Al Coker & Associates. The remaining 25 units range in price from $270,000 to $1.35 million.

Twelve units were set aside for buyers earning 80 percent of the area's median-family income, said Russell McDowell, a sales associate with Al Coker & Associates; all were sold to individuals making less than $39,850 a year.

The Shore's residents will enjoy concierge services and other amenities of an adjacent $100 million, 29-story hotel being developed by San Diego, Calif.-based JMI Realty and managed by San Francisco-based Kimpton Hotels. The hotel will have 290 rooms and 55 condominium units on the upper floors with prices ranging from about $500,000 to more than $2 million, said Gregory Clay, senior vice president with JMI.

The Shore is one of more than a dozen condominium and apartment projects either under construction or planned for downtown, where Mayor Will Wynn has said he would like to see 25,000 people living in the next 10 years. About 5,500 people now live downtown.

Other projects near the Shore include the new 13-story Milago condominiums and a $250 million mixed-use project planned by Constellation Property Group.

The first residents are expected to move into the Shore in January 2008, Alam said.

Units in the Shore will include high-end appliances and finishes. The building also will have a 60-foot lap pool on a sixth-floor terrace.

Developers say the Shore also will be the first downtown residential high-rise constructed using the city's green-building standards incorporating energy-efficient technologies.

The number of units already reserved are evidence of the demand for high-rise urban living in Austin, Alam said.

Stonington said the Shore's buyers are a mix of baby boomers, retirees and young professionals. "In general, we're seeing that people desire an amenity-filled lifestyle in an urban environment and that they are tired of driving to the suburbs," he said.

"They want a simple, streamlined existence, and that is how you sell this building," he said.

The Shore is Al Coker & Associates' first project in downtown Austin but probably won't be its last.

"This is our big splash in Austin," Stonington said. "With this resounding success, we're looking forward to continuing to light up Austin's skyline."

[nothcaylina]

Thanks guys..definitely would like to see more from Austin in here. If anyone wants to catch some of the Horns-Buckeyes this fall and it's attendant craziness, I'd love to see it.

[Nic]

Pomeroy Investment Corp. plans to convert part of the One Commodore building, shown in this artist's rendering, into condominiums in downtown Austin's first condo conversion since the late 1990s.


The top of the 20-story Capitol Tower will get a new, curved crown. The building has been empty since state and city workers left last year.



2 downtown towers poised for makeovers
Pomeroy Investment Corp. will add condos to one, keep other as office tower.
By Shonda Novak

AMERICAN-STATESMAN STAFF


Saturday, July 01, 2006

A Michigan-based firm plans to pump more than $20 million into floor-to-ceiling makeovers of two downtown office buildings, including transforming one into a mixed-use tower with about 80 condominiums.

Pomeroy Investment Corp. paid $24.4 million this week for 14-story One Commodore at 800 Brazos St. and the 20-story Capitol Tower, formerly Two Commodore, at 206 E. Ninth St.


One Commodore will be renamed Brazos Place and will be converted into a tower with condos, offices, shops and possibly a restaurant and bar, said Jerry Reinhart, Pomeroy's president and chief executive.

The project will be the first condominium conversion of a downtown building since the Brazos Lofts, Avenue Lofts and the Railyard condominiums were converted in the late 1990s.

One Commodore was once the Commodore Perry Hotel. It was converted to an office building in 1985 and is now 35 percent occupied.

Capitol Tower has been empty since state and city workers moved out in 2005.

Pomeroy, which bought the buildings from the Shidler Group of San Diego, Calif., plans to start the makeover this summer. The work, which will include a skyline-altering crown for Capitol Tower, is expected to be finished in mid-2007, Reinhart said.

"Austin looks like a very strong market for us for the foreseeable future," Reinhart said. "And we would expect these assets to be our entry into a market that we intend to participate in for the next several years."

Pomeroy's investment underscores Austin's appeal to real estate investors as the market continues its upward trajectory from the tech bust in 2001, which squelched demand for office space and drove down rents and occupancy levels.

For the past year, investment money has been pouring into downtown.

The 23-story 300 West Sixth office tower sold in October for $131.7 million — a record $295 a square foot.

And in May, Cousins Properties Inc. put Austin's newest office building, Frost Bank Tower, up for sale with company executives citing "a very strong market" for first-class office buildings.

Reinhart said they have been contacted by companies expressing interest in leasing space in Capitol Tower, including technology firms and financial institutions.

"Although we recognize that the Austin market has strong demand presently, we have even been surprised at how quickly we have had activity on this building," Reinhart said.

With a tightening office market, Pomeroy now will have one of the largest contiguous blocks of available space in downtown in its Capitol Tower. The building's 736 parking spaces — a ratio of more than four spaces per 1,000 square feet — represents the highest parking ratio among downtown buildings, Reinhart said.

With unobstructed views of the Capitol and the University of Texas, Capitol Tower will be the first of the two office buildings to be remodeled, with renovations to its facade, lobby, garage and mechanical systems. The tower also will be topped with a new, curved crown.

"It will make Capitol Tower a piece of the city skyline," said Kim Burgess, project manager for Pomeroy. The building will keep its name and remain an office building, with existing tenants including Comerica Bank and GTE Mobilnet.

Brazos Place, meanwhile, will be renovated inside and out. Private balconies will be added, and the facade and lobby will get a face-lift.

Condominiums will be added on eight floors; they will be priced between $200,000 and $400,000, Reinhart said. The building also will have up to four floors of office and retail space.

Reinhart said the company's plans don't call for adding on to either building, though he didn't rule it out.

"It's part of our strategy to bring an asset to its highest and best use, and if there's an opportunity to add square footage, we would consider that," he said.



A changing downtown

Development in downtown Austin is heating up as the Central Texas economy continues its upward trajectory.

Sold

Chase Tower, 221 W. Sixth St., between $66 million and $68 million. Buyers were Austin-based Endeavor Real Estate Group and California-based Triple Net Properties LLC.

300 West Sixth, a 23-story office tower at West Sixth and Lavaca streets, for $131.7 million. The buyer was Chicago-based Equity Office Properties Trust.

On the market

Frost Bank Tower, a 33-story office building at Congress Avenue and Fourth Street.

Under construction

AMLI Residential Properties Trust, an 18-story, 232-unit luxury apartment complex on Second Street between Guadalupe and San Antonio streets.

360, a 44-story condominium tower at Third and Nueces streets.

The Shore, a 22-story, 192-unit condominium project at Red River and Davis streets.

Courtyard by Marriott and a Residence Inn by Marriott on East Fourth Street near the Austin Convention Center.

[krazeeboi]

Impressive list!!!

[JDawgboyATX]

The capital Tower is going to look strange Im still contimplating if I like that arched top. Well it would probably be better than what the building looks like now.

[Nic]

I think I'll need to see what it looks like in person, not just a rendering. That is an akward angle that is shown anyway. I wonder if it will be lit up at night.

[TXLove]

The Capitol Tower's redesign is a bit strange but it will have a huge impact on the skyline because nothing really tall in that area....Coming south on IH 35 into downtown should offer great views

[Nic]

Apartment tower starts its rise into Austin's sky

The rumble of construction equipment is growing on West Fifth Street, where work has begun on Zom USA's 29-story apartment tower that will have a distinctive curved facade.

The Monarch, which will take about two years to complete, is going up at 805 W. Fifth St., the site of the former Miguel's Imports store and across the street from the Austin City Lofts.

It will have 305 apartments ranging from 890 to 2,400 square feet, and street-level shops.


East Facade



For more info., visit the following webpage: http://zomusa.com/pdf/NewsMonarch.pdf

[JDawgboyATX]

Some more renderings...
This is the W hotel on block 21 in the Second street district. At 36 stories, it will be 402 feet tall. Construction is expected to start either the end of this year or very beginning of next.


A clearer rendering of the tower.


And AMILI on Block 22 in the Second Street District. It is currently under construction and will be 18 stories.