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AUSTIN | 6th and Congress | 800ft & 400ft | Cancelled

3127 Views 2 Replies 2 Participants Last post by  FM 2258

800 Foot 6th & Congress Super Tower to Return?

April 18, 2011

According to the Austin Business Journal, Tom Stacy (a veteran Austin developer) and Walton Street Capital (a $12B investment firm) are revitalizing plans for two dramatic downtown buildings on a key downtown block bound 5th and Congress.

According to the Report, "Developers are moving forward with plans for two new mixed-use towers and a parking garage downtown. . .The new towers are planned for the same block bound by Brazos and 5th Street, plus a half block across the street. Construction on the first phase — the parking garage — is slated for early 2012. Officials said in 2008 they would invest half a billion in the development. One building will be 500,000 square feet and slightly taller than the 26-story Bank of America building, they said at the time. The other was slated for a hotel and condo tower rising more than 800 feet, plus 1,000-car garage, previous reports said."

We reported extensively on the original project when it was first announced. Although the details are likely to change dramatically between the first proposal and anything built today, the original plans called for a 925,000 square feet mixed use building which would be the largest downtown Austin project at nearly twice the square feet of the Frost Bank Tower. The project (rendering below) was to be designed by the world-famous architecture firm of Pelli Clarke Pelli, who also designed the Petronas Towers, once the tallest buildings in the world, and the Museum of Modern Art and Museum Tower in New York City

Original scheme for 5th & Congress
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I also posted this on Skyscraperpage....

Remember this?

(JDawgBoy, I borrowed this image from you - page one, post one)

T. Stacy & Walton Street just put the land & existing buildings on the market for sale today. So this won't happen - at least not in this form. Hopefully a developer will buy it and build something cool there. It's one of the closest sites to the Capitol that can have a supertall building on it. They are referring to it as a 1.6M square foot development opportunity. For the record that's 2.8 Frost Bank Towers, which has 560,674 square feet.

Below shows you what is for sale. It includes Bank of America Tower, the BOA Annex, a parking lot and a couple of garages including the Littlefield garage. HFF has the sale listing. This image is from their emailer. You have to sign a confidentiality agreement, prove you are a licensed real estate broker AND name your buyer if you want to get a copy the sales package. They don't give those out to very many people.

So this one's done for now. Will check back when a sale is complete...
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