Austin Business Journal April 15th-21st 2022 ppA9 |COMMERCIAL|”Rezoning inches ahead for old Statesman HQ” “Negotiations in crucial phase:Affordable housing, park funding debated”
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Summary by 2244
Image from Skidmore, Owings & Merrill LLP, SOM at SOM.COM
Talking with friends none of us were aware that the “Austin American Statesman” has moved their headquarters and that their old site is heading towards a spectacular redevelopment.
So far the developers seemingly have good support as the Austin City Council approved 10-0 “two dozen recommendations from the Austin planning commission, ranging from more affordable housing to private funding for park and road work.” Two other votes will be required “to rezone the land to a planned unit development.”
Ultimately, if fully approved it will be “one of the biggest downtown real estate projects in recent city history.” It is part of the “South Central Waterfront Initiative.” This project fits with "the city's wider plan to create more dense development across the central business district.'
What is being proposed?
Towers making available 1.5 million square feet of office space
A hotel, restaurants and retail on “19 acres next to Lady Bird Lake” at 305 S. Congress
“More than half of the site would be public space including a reconstructed hike and bike trail and an area to watch the bat colony.” See the image above from Skidmore, Owings & Merrill LLP.
What companies are involved?
Endeavor Real Estate Group LLC is the “master developer for the land owners, the Cox family.”
Owings & Merrill LLP-Architecture
Armhurst & Brown PLLC -Project management of the “city approval process”
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