The Radisson Hotel Austin – University will be revamped alongside plans to raise apartment buildings on the site. ARNOLD WELLS / ABJ

Austin Business Journal reports, "an Austin hotel is planned for redevelopment as part of a project expected to create hundreds of new homes north of downtown.

At the vacant Radisson Hotel Austin - University, developers plan to renovate the existing 298-room hotel and aim to raise as many as 1,000 new apartments and add 40,000 square feet of commercial space to the site, according to a rezoning request moving through City Hall.

The property at 6121 N. I-35, owned by ASAP Austin LLC, rests between the St. John and Coronado Hills neighborhoods. The roughly 8-acre site is at the northeast corner of I-35 and U.S. Highway 290. It is valued at $22 million by the Travis Central Appraisal District.

The hotel will be rebranded to Delta by Marriott, and the facility is set to include a Starbucks and a celebrity chef restaurant with an estimated investment of $145,000 per key, according to ASAP.

A multifamily developer, which remains unnamed, is set to erect the additional five apartment buildings where tenants will have access to the hotel's revitalized amenities. The residential portion of the project will include two- to three-bedroom units. It is planned to have a floor-to-area ratio, or FAR, of 4:1 with a building height of up to 200 feet. It also includes 966 parking spaces, according to city documents.

The vacant Radisson Hotel Austin - University is set to be redeveloped as a Delta by Marriott, but it is part of a larger project that will include five buildings and create up to 1,000 new residences in North Austin. ASAP AUSTIN LLC

To allow for the additional development, ASAP, represented by attorney David Anderson with Drenner Group PC, seeks to rezone the site from mixed-use to high-density mixed-use. The change is set to be considered on the second and final third reading by City Council on Jan. 18.

The site was deeded to ASAP from LW Austin VI LLC in 2022 following its 2021 acquisition of the site from Hotels USA Partners LLC. Hotels USA owned the property for 20 years, according to county records. ASAP states that it purchased the site for $37.6 million and sold the existing building's parking structure to another developer for $25.8 million.

The vacant Radisson Hotel Austin - University is set to be transformed into a Delta by Marriott. ASAP AUSTIN LLC

As presented, the additional construction will not significantly increase impermeable cover as the vast majority of new development, including a parking garage, is set to rise atop existing black-top parking.

ASAP Austin plans to dedicate about 10% of the project's dwellings as affordable housing to Austinites earning 60% of the median family income, or MFI. According to data gathered by Austin’s Housing Department, 60% MFI for a family of four in Travis County is $70,080.

The project could mark another step forward in the city's effort to create new affordable housing opportunities for its residents with only one of the city's 10 council districts currently on pace to meet its 10-year goals for new affordable housing units.

District 4, where the project is located, is 50% on track to meet its goal, according to the study from Housing Works Austin.

The site is accessible through three CapMetro bus routes and is located about a one-mile walk from the Highland rail station to the east of the site.

Approximately 111 meeting notices have been mailed to people who rent or own property within 500 feet of the subject tract, according to city documents."


Source: Austin Business Journal 

Written by: Mike Christen 

Published: January 16, 2024

Posted by Grossman & Jones Group on


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