Luxe Austin Homes - redevelopment

"Multifamily project on tap along Colorado River in East Austin"

Austin Business Journal shares, "An East Austin lumber yard could be redeveloped into hundreds of multifamily units.

The 300-plus-unit project is planned at the former site of Eastside Lumber & Decking near the intersection of East Cesar Chavez Street and North Pleasant Valley Road.

The developer of the project, JLB Cesar Chavez, is Dallas-based JLB Partners, according to a filing with the Texas Department of Licensing and Regulation. The property owner is an entity called TRG Cesar Burleson LLC, according to Travis Central Appraisal District. The address of TRG Cesar Burleson LLC matches that of Dallas-based Trinsic Residential Group.

Neither JLB nor Trinsic — known apartment players in this market already — responded to requests for…

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"Mixed-use tower could be coming to site near former Statesman building"

Austin Business Journal shares, "A new tower could be on tap for South Congress Avenue if a zoning change is approved Sept. 26 by the City Council. 

The tower — on a roughly 1-acre tract at 311-315 S. Congress Ave., which is just south of the old Austin American-Statesman building — would contain 488 residential units, 30,000 square feet of office space and 7,500 square feet for "ground floor pedestrian-oriented uses," according to city documents. 

The location is not within the planned unit development for the former Statesman site that is the subject of a lawsuit, although it is nearby.

The potential new zoning on the tract would allow for construction of a building up to 480 feet tall, or almost 50 stories. Currently, the site is the…

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"$112M mixed-use redevelopment with affordable housing, artistic space coming to East Austin"

Community Impact Austin shares, "A pair of mixed-use developments with affordable housing and cultural spaces are coming to vacant city-owned lots in East Austin's African American Cultural Heritage District.

The big picture

Local stakeholders and agencies have been working for years on a plan to transform Austin's "Blocks 16 and 18" sites on the 900 and 1100 blocks of East 11th Street.

The framework that's now moving forward was one of two proposals under consideration by Urban Renewal Board—which oversees the "blighted" East 11th and 12th street area under the city's Urban Renewal Plan—since last summer. After months of review, a final outline for the blocks' redevelopment advanced July 18.

“This milestone for Blocks 16 & 18 marks a significant step…

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"More apartments proposed near Barton Springs Road and Zilker Park"

Austin Business Journal reports, "A plan to demolish a 40-unit apartment complex near Barton Springs Road to make way for a bigger one is set to be considered by City Council later this month.

The project at 1725 Toomey Road — on a less-than 1-acre tract sandwiched between Butler Shores and the original Chuy’s restaurant — would replace the existing Barton Springs Apartments with a new building containing more than 203 units.

Property owner Greg Smith of First Austin Properties is seeking a zoning change for the location to remove a conditional overlay that restricts building height to under 75 feet. Aside from the conditional overlay, the property has the city's highest-density multifamily zoning.

The exact height and other details of the…

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"Austin’s HOME Initiative won’t change much — for now"

Austin Business Journal writes, "a new policy allowing up to three homes to be raised on some single-family lots is one of the most high-profile changes to Austin's land use code as it tries to combat high home prices and adopt a big-city mentality.

But experts said the program will not have a notable effect on the local housing market for the foreseeable future — plus, there's the specter of a lawsuit scaring some developers off.

The first phase of what's called the HOME Initiative launched Feb. 5. That's when homeowners and developers could start to submit applications. Landowners can either sell the new, smaller homes or they can rent them out. The impact of the change will only become measurable in the months and years to come, but the…

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"North Austin Radisson hotel nears redevelopment; hundreds of new apartments to flank it"

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,…

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"Stream plans to begin East Sixth Street transformation in new year"

Austin Business Journal reports, "a substantial facelift of Austin’s East Sixth Street will begin in the new year.

Stream Realty Partners LP said preliminary preservation work is planned to begin in early January as part of a major restoration of more than 30 properties along the popular street with Congress Avenue to the west and I-35 to the east.

The initial work will focus on restoring the facades and interiors of the Stream-owned buildings that have fallen into disrepair. The majority of interior and exterior work is scheduled to begin late in the first quarter of 2024 and early in the second quarter of the year, according to the developer.

The firm also disclosed that it will begin looking for new tenants in 2024 but it did not share if…

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"Intracorp plans mixed-use condo development off South Congress"

Austin Business Journal reports, "Intracorp Texas may demolish some existing buildings on the South Congress Avenue retail strip to build a mixed-use project that would bring about 250 housing units to the area.

The project at 2105 S. Congress Ave., directly south of Lively Middle School, would raise a mid-rise condo building with a garage and street-level retail on one of Austin's most popular streets, according to a construction filing with the Texas Department of Licensing and Regulations.

Construction is expected to begin March 1, 2024, according to the TDLR, with an estimated completion date of Oct. 1, 2025. The project carries an estimated cost of $110 million and will be 620,000 square feet.

A site plan filed with the city shows the…

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"IBM finds new Austin home"

Austin Business Journal reports, "IBM Corp. has lined up a new home in Austin — it should be move-in ready in 2027.

Big Blue, which back in September solicited proposals for a new office hub in the Texas capital, has decided to move into a newly proposed development by Hines at the northern tip of The Domain, said Joanne Wright, an IBM senior vice president. It has leased space in two 14-story towers proposed on the site of a La Quinta Inn and Suites at 11901 N. MoPac Expy. — not far from IBM's current campus at 11501 Burnet Road.

It will mean a new home in Austin for IBM (NYSE: IBM), one of the original big tech employers in the city, and its roughly 6,000 employees.

IBM is leasing about 320,000 square feet, out of the project's 500,000…

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"Wilson Capital Proposes 80-Story Apartment Tower in Austin, Texas"

REBusiness Online reports, "Wilson Capital, an Austin-based real estate development firm, has unveiled plans for Wilson Towers, an 80-story apartment building in Austin. Totaling 450 residential units and rising 1,035 feet, the development would become the tallest building in Texas upon completion.

The property is located at 410 E. Fifth St. in the heart of Austin’s downtown. It is less than a block from the MetroRail Downtown station, three blocks from the Congress Avenue retail and restaurant district, and six blocks from the Texas State Capitol building. Construction is scheduled to begin this summer.

According to local real estate publication Towers, the project is a massive expansion upon previously released redevelopment plans for the site…

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