Urbannizer Posted November 12, 2009 Share Posted November 12, 2009 49-story residential tower 17-story hotel tower http://www.21cmuseum...tin/austin.aspx Link to comment Share on other sites More sharing options...
lockmat Posted November 12, 2009 Share Posted November 12, 2009 I'm impressed with the first one. Is Austin getting so many of these simply because of the fact that their inventory is so low in the first place and now they're just trying to keep up with the trends? Link to comment Share on other sites More sharing options...
LTAWACS Posted November 12, 2009 Share Posted November 12, 2009 Love that resi tower. Link to comment Share on other sites More sharing options...
swtsig Posted November 13, 2009 Share Posted November 13, 2009 I'm impressed with the first one. Is Austin getting so many of these simply because of the fact that their inventory is so low in the first place and now they're just trying to keep up with the trends?austin's last mayor set a goal of increasing the CBD's permanent population to 25K in the near future (can't remember the exact year)... i'm sure the city is doing all they can to incentvise the developers to pursue these projects. that being said, last i heard a lot of the new highrise inventory is still sitting on the market, and i have a hard believing that in this economy a lot of these units are moving... particullarly at the $/SF they're probably asking for.could be wrong, tho. Link to comment Share on other sites More sharing options...
Urbannizer Posted November 25, 2009 Author Share Posted November 25, 2009 The developers of the proposed 21c Museum Hotel are coming to Austin next week to present an update on the stalled downtown project.Developers Steve Poe and Craig Greenberg will be speaking to the Waller Creek Citizen Advisory Committee at City Hall on Dec. 3.The proposed project includes a hotel and condominiums at East Caesar Chavez and Red River streets. City leaders had hoped that the tax revenue from the project would kick-start plans to build a flood control tunnel along Waller Creek, helping spur redevelopment in the area.Michael Bonadies, president and CEO of 21c Museum Hotels, said the project plans are complete, and they’re ready to move forward. But there is still a major obstacle.“We continue to work hard on sourcing construction financing in what has proved to be a difficult environment,” Bonadies said in an email. “However, we remain optimistic, encouraged by some of the feedback we have recently received, which leads us to believe that 2010 will bring a more favorable climate for construction financing.”Originally, the project was slated to break ground at the beginning of the year, but the floundering economy got in the way.http://www.statesman.com/blogs/content/shared-gen/blogs/austin/realestate/entries/2009/11/24/21c_museum_hotel_to_present_ne.html Link to comment Share on other sites More sharing options...
Urbannizer Posted December 4, 2009 Author Share Posted December 4, 2009 49 story residential tower out, 31 story apartment tower in.Developers on Thursday unveiled their latest plans for the art-themed 21c Museum Hotel, with the downtown project now calling for a 31-story apartment tower, along with a 13-story, 250-room hotel with a modern art museum open to the public.Officials with the Poe Cos. and 21c Museum Hotels presented their plans to the Waller Creek Citizen Advisory Committee.The project would be built on about 3 acres at East Cesar Chavez and Red River streets on the banks of Waller Creek.The developers would set aside 10 percent of the rental units for housing for people making less than the area's median income. The 355 units would include eight live/work artists' lofts overlooking Waller Creek, also with more moderate rents.The project would be the first major development in the Waller Creek District, contributing $1 million annually in property tax revenue over 20 years to help fund a $127 million flood control tunnel.The tunnel would be a catalyst to spur investment in an area that has been "basically been undeveloped, like the last prairie of downtown, so we want to do all we can to jump-start that," City Council Member Sheryl Cole said.The developers have been talking to city leaders about the $200 million project, raising the prospect of potential new funding sources, Cole said.In discussions with the developers, Cole said they talked about other "creative public-private partnerships" involving cities, counties and even the federal government to help projects move forward in a difficult economy.Because it would be in a part of downtown that is seeing revitalization, Cole said she would "certainly support examining all the other options that other cities have used to keep and attract these type of investments."She noted that there are no specific proposals on the table for the 21c project, however.Asked whether the developers would seek city incentives, Craig Greenberg, vice chairman of 21c Museum Hotels, said, "we're always looking for help" to obtain financing.If financing materializes, construction could start by midsummer and be completed two years later, in mid-2012, said Steve Poe, chief executive of the Poe Cos.http://www.statesman.com/business/content/business/stories/other/2009/12/04/120421c.html Link to comment Share on other sites More sharing options...
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