JDawgATX Posted August 20, 2005 Share Posted August 20, 2005 Hello everybody I am new to this forum as well as this being my very first post. I am not sure if the picture will come out or not of the rendering but Im still learning how to post pictures. New downtown condo tower will rise 36 stories Project will be tallest west of Congress By Shonda Novak AMERICAN-STATESMAN STAFF Thursday, July 28, 2005 A dramatic change is coming to downtown Austin's skyline, with plans under way for a $60 million condominium high-rise that would tower 36 stories over downtown's southwestern edge. Developers expect to start construction in about a year on the tower, slated for an acre at Third and Bowie streets. The site is just west of the Gables West Avenue Lofts and two blocks south of Whole Foods Market's flagship store. Called Spring, the tower will have several levels of parking above and below ground, plus shops on the ground floor with 20-foot sidewalks shaded by awnings. Plans call for 220 condo units priced from about $200,000 to $400,000. Most of the units will sell for about $250,000, said Larry Warshaw, who is developing the project with Perry Lorenz, Robert Barnstone and Diana Zuniga. Lorenz and Barnstone were partners in the Nokonah condominiums on North Lamar Boulevard and Ninth Street. Warshaw and Lorenz co-developed the Pedernales Lofts condominiums east of downtown. Zuniga, a well-known broker, also is a principal in the partnership that sold the land. Although some nearby neighborhood groups have opposed proposed high-rise buildings in the area, developers say their tower would be constructed so as to not block view of downtown or the Capitol. The project will require a zoning change because the tower will rise 400 feet, nearly four times the site's existing 120-foot height limit. It will be the tallest project west of Congress and the second tallest among a wave of new downtown towers. The highest is a 41-story residential/retail/hotel tower that developer Tom Stacy plans at Congress Avenue and Fifth Street. "There will always be folks who think a building is too tall," Lorenz said. "You have to weigh those personal preferences against city policy and good urban planing principles" that encourage density in downtown areas." He said the design maximizes usable space, allowing the condos to be priced below the going rate for downtown, where the average price is about $500,000. Developers, who have briefed city officials and City Council members on the project, say they do not plan to ask for financial incentives. Mayor Will Wynn said the project will mean a significant increase in city tax revenue Link to comment Share on other sites More sharing options...
editor Posted August 20, 2005 Share Posted August 20, 2005 Great information. Thanks for the Austin updates.Sorry the picture didn't come through. You'll get the hang of it. Link to comment Share on other sites More sharing options...
Talbot Posted August 23, 2005 Share Posted August 23, 2005 Austin sure is getting a good amount of proposals. I am glad to see them progressing more in the highrise department. Link to comment Share on other sites More sharing options...
JDawgATX Posted May 8, 2006 Author Share Posted May 8, 2006 An update on this building. Should start construction by the end of the summer or beginning of Fall. Link to comment Share on other sites More sharing options...
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