lockmat Posted August 25, 2007 Share Posted August 25, 2007 http://www.bizjournals.com/austin/stories/...20/daily35.htmlThe W Austin Hotel & Residences is building a sales center at Block 21 in downtown Austin. Link to comment Share on other sites More sharing options...
Trae Posted August 25, 2007 Share Posted August 25, 2007 Austin has a W before us? Damn. Link to comment Share on other sites More sharing options...
TheNiche Posted August 25, 2007 Share Posted August 25, 2007 Austin has a W before us? Damn.Blame your elected officials. Link to comment Share on other sites More sharing options...
Trae Posted August 25, 2007 Share Posted August 25, 2007 Some days, I love Houston. Others (like today), I wonder why this city even exists. Link to comment Share on other sites More sharing options...
ToryGattis Posted August 25, 2007 Share Posted August 25, 2007 W is about young hip and cool, with a trendy nightclub. Austin has high-tech people, musicians, and celebrities. Houston has lots and lots of middle-aged oilmen and engineers who do not fall into the "hip and cool" category. Whatever small demographic we do have looking for hip and cool are pretty well served by the Hotel Derek uptown, Icon downtown, and ZaZa at the med center. A W would face real competition from independents here. Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted August 25, 2007 Share Posted August 25, 2007 Some days, I love Houston. Others (like today), I wonder why this city even exists.Sweet. Getting kinda emo-y over a hotel that more than likely, in a relatively short amount of time, will have some presence in this area.Oy vey.Wasn't it kinda spilled on page 3 of this thread that we would be getting one anyway? Link to comment Share on other sites More sharing options...
KevinFromTexas Posted October 15, 2007 Share Posted October 15, 2007 This building broke ground on Thursday. Article on the ceremonial ground breaking. Magic Johnson invested $50 million in the project. He was there for the ground breaking, along with Ex-UT coach Darrel K. Royal. http://www.statesman.com/business/content/.../1013magic.html The building's official website. http://www.block21residences.com/ Renderings. Click on the thumbnails for larger versions. Link to comment Share on other sites More sharing options...
713 To 214 Posted October 15, 2007 Share Posted October 15, 2007 Austin has a W before us? Damn....and what does that say about "us," in your opinion? (This should be good) Link to comment Share on other sites More sharing options...
Daniepwils Posted October 31, 2007 Share Posted October 31, 2007 We have Westin hotels and the St. Regis, all owned by Starwood, but no actual W Hotel. The W Hotel in the French Quarter is pretty fun, but small. Link to comment Share on other sites More sharing options...
Metro Matt Posted November 19, 2007 Share Posted November 19, 2007 W is about young hip and cool, with a trendy nightclub. Austin has high-tech people, musicians, and celebrities. Houston has lots and lots of middle-aged oilmen and engineers who do not fall into the "hip and cool" category. Whatever small demographic we do have looking for hip and cool are pretty well served by the Hotel Derek uptown, Icon downtown, and ZaZa at the med center. A W would face real competition from independents here.The Ghost Bar clubs atop the W Hotels in Dallas, Vegas, & Chicago have nothing to do with the hotel itself, from what I understand, they (The Nine Group) just lease a floor. Link to comment Share on other sites More sharing options...
NThomas Posted March 31, 2009 Share Posted March 31, 2009 Here's a much needed photo update: Link to comment Share on other sites More sharing options...
NThomas Posted August 10, 2009 Share Posted August 10, 2009 Stratus says it may be forced to stop work on W projectAustin Business JournalAugust 10, 2009Full ArticleStratus Properties Inc. said Monday it's urgently looking to secure new financing for its W Austin Hotel & Residences project downtown. But if the developer and its partner Canyon-Johnson Urban Fund II LP cannot line up a new equity partner or come up with the funding another way, it may be "required to delay further construction of the project until additional financing is available."Stratus (Nasdaq: STRS) and Canyon-Johnson entered into their development deal on the $300 million W project in May 2008 and subsequently lined up a construction loan with Corus Bank NA to finance costs above the $128 million commitment on the part of the developers.According to a filing with the Securities & Exchange Commission, on June 26 the loan agreement with Corus was assigned to a subsidiary of Stratus, which is jointly managed by Stratus and Canyon-Johnson, in exchange for a pay down of $250,000 of the outstanding principal balance of $2.1 million. As a result, Corus is no longer the lender and in the second quarter Stratus recognized a $200,000 loss on extinguishment of debt.According to Stratus, as of the end of the second quarter, it had invested $35.3 million in the project and Canyon-Johnson $48.7 million. The company says moving forward it will fund 40 percent of the remaining project costs and Canyon-Johnson 60 percent until the required capital totaling $128 million is reached. But once that point is reached, they'll need a new source of capital to continue construction.The joint venture partners say they are pursuing other options for financing the future construction costs on the project. Such options may include additional equity contributions by Stratus and Canyon-Johnson, financing from other financial institutions, admitting new equity partners, or a combination of those alternatives... Link to comment Share on other sites More sharing options...
feufoma Posted August 10, 2009 Share Posted August 10, 2009 Stratus says it may be forced to stop work on W projectAustin Business JournalAugust 10, 2009Full ArticleSchadenfreude! Link to comment Share on other sites More sharing options...
swtsig Posted August 17, 2009 Share Posted August 17, 2009 well that's not good. Link to comment Share on other sites More sharing options...
NThomas Posted August 20, 2009 Share Posted August 20, 2009 well that's not good.I have a feeling Stratus will find someone (or a lot of someones) to fill in the gaps in this project. Any condo attached to the "W" brand will sell (eventually, like <5 years tops). If anything, Magic Johnson could fill the gap in the project's financing. See why. Link to comment Share on other sites More sharing options...
RedScare Posted August 20, 2009 Share Posted August 20, 2009 Schadenfreude! Link to comment Share on other sites More sharing options...
RedScare Posted August 20, 2009 Share Posted August 20, 2009 Any condo attached to the "W" brand will sell (eventually, like <5 years tops). Heh, you're talking that pre-2008 smack. Condos ain't sellin'...period. I don't care what you attach to them. Link to comment Share on other sites More sharing options...
NThomas Posted August 20, 2009 Share Posted August 20, 2009 Heh, you're talking that pre-2008 smack. Condos ain't sellin'...period. I don't care what you attach to them.If you were to try and sell any condo project today, Texas has the best chance out of any state. Before 2008, it wouldn't have been a problem to replace an investor, today, it's next to impossible unless your in one of Texas' four major metros. Link to comment Share on other sites More sharing options...
Urbannizer Posted August 21, 2009 Share Posted August 21, 2009 Latest update 8/10 by KevinFromTexas Link to comment Share on other sites More sharing options...
Urbannizer Posted August 23, 2009 Share Posted August 23, 2009 8/22 By Priller Link to comment Share on other sites More sharing options...
Urbannizer Posted August 29, 2009 Share Posted August 29, 2009 8/29 By Priller Link to comment Share on other sites More sharing options...
Urbannizer Posted September 7, 2009 Share Posted September 7, 2009 9/6 By LoneStarMike Link to comment Share on other sites More sharing options...
LoneStarMike Posted September 23, 2009 Share Posted September 23, 2009 From 9/19/2009 Views from Farmers Market at Republic Square From a boat on Lady Bird Lake From the 17th floor of the Hyatt Hotel Link to comment Share on other sites More sharing options...
Urbannizer Posted October 3, 2009 Share Posted October 3, 2009 8/2 By Priller Link to comment Share on other sites More sharing options...
Urbannizer Posted November 26, 2009 Share Posted November 26, 2009 9/25 By Priller Link to comment Share on other sites More sharing options...
Urbannizer Posted December 24, 2009 Share Posted December 24, 2009 12/23 Photolitherland Link to comment Share on other sites More sharing options...
Urbannizer Posted January 4, 2010 Share Posted January 4, 2010 Jan 2nd by Priller It has been said that this one might be topped out. Link to comment Share on other sites More sharing options...
Urbannizer Posted February 28, 2010 Share Posted February 28, 2010 2.26.1o Link to comment Share on other sites More sharing options...
Urbannizer Posted April 6, 2010 Share Posted April 6, 2010 4/5th Priller Link to comment Share on other sites More sharing options...
Urbannizer Posted June 11, 2010 Share Posted June 11, 2010 Update by LSyd Link to comment Share on other sites More sharing options...
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