Luxe Austin Homes - tower

"Plan for golden tower on West Sixth Street moves forward"

Austin Business Journal shares, "Plans for another mixed-use residential tower downtown took a step forward this week. 

The Austin Planning Commission approved the proposed 66-story tower at 701 W. Sixth St. for inclusion in the city's downtown density bonus program on May 13, which would allow for the project to double its floor area ratio from 15:1 to 30:1. 

The project could have 413 residential units and retail space, according to city documents. It's in a capitol view corridor, however, which limits how tall certain parts of it could go regardless of the density bonus program.

Property owner Kairoi Residential, a San Antonio-based developer, also is involved in building the tallest tower in Texas, called Waterline, at 98 Red River St. It…

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"The Supertalls Are Coming to Austin"

Bloomberg.com writes, "the city of Austin is building up, and its once-modest skyline is getting weird.

Due in 2026 is a mixed-use high-rise called Waterline, designed by the New York firm Kohn Pedersen Fox. At 1,022 feet, the building qualifies as a “supertall,” one of just a handful of these spectacular skyscrapers in the US outside Chicago or New York City. When it’s finished, the project will rank as the tallest building in Texas. Designed like a stack of several different buildings, Waterline will stand out on a skyline that’s growing up faster than almost any other nationwide.

But it won’t stand alone. Groundbreaking is due this year on an even-taller supertall, the Wilson Tower. Wrapped in a dusky golden brise-soleil running the length of…

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"Crane Watch: Symphony Square tower tops out; Lots more housing, warehouse space planned"

Austin Business Journal reports, "Greystar Real Estate Partners LLC's Symphony Square mixed-use project in downtown Austin is inching toward completion.

Since October, both 1121 at Symphony Square, the development's seven-story office building, and The Waller, its 32-story residential tower, have topped out, said Jon deVita, development associate at Greystar.

South Carolina-based Greystar is seeking certifications that will set the project apart in the areas of sustainability, connectivity and health and wellness, said Matt Stevenson, Austin-based senior director of development.

When complete, 1121 at Symphony Square will have 129,000 square feet of class A office space, with floor plates ranging from 13,500 to 30,000 square feet, deVita…

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"New 43-story tower breaks ground in Austin's Rainey Street district"

Austin American-Statesman reports, "a 43-story apartment tower is the latest high-rise to start construction in the booming Rainey Street area in downtown Austin.

High Street Residential, along with MSD Partners and River Street Partners, said started construction has bgun on the tower, which will rise 500 feet at River and Rainey streets on downtown's southeastern edge. It will have 377 upscale apartments, ranging from studios to three-bedroom units and penthouses.

Called 700 River (initially River Street Residences), the tower will include 3,400 square feet of retail space and more than 30,000 square feet of amenity space, according to the developers. The high-rise is due to be completed in late 2024.

The project is part of wave of growth…

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In a twist, NY developer approved for $65M purchase of prime South Congress property with redevelopment potential

In a wild twist, one of the nation’s most prolific developers has emerged as the frontrunner to buy out of bankruptcy a six-acre South Congress Avenue site primed for redevelopment.

After the top two bidders for the South Congress site proved either unwilling or unable to timely close on the sales, The Related Companies LP, a New York-based developer with an estimated $60 billion portfolio, negotiated with a Chapter 7 trustee to make a $65 million offer.

Related was approved by a bankruptcy judge Sept. 15 to purchase the site for $65 million, provided it can close on the deal by Sept. 30.

An attorney representing the company, Josh Judd of law firm Andrews Myers PC, told ABJ Sept. 16 that his client is "not anticipating any problems" closing…

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Crane Watch: High-rise hotel to replace bar previously called Russian House; Tesla plans another Austin store

Indiana-based White Lodging is gearing up to develop a 269-room high-rise hotel at the intersection of Fifth and Trinity streets.

The project, planned at 307 and 311 E. Fifth St., would rise 128 feet and encompass 188,640 square feet, according to public documents.

While White Lodging is developing the project, the owner is listed in public documents as 311 E 5th Series, a subsidiary attached to Finley Company.

The project site is about four-tenths of an acre. The space is currently occupied by low-slung buildings that were once home to the Trinity Hall event venue and House restaurant and bar (formerly Russian House), both of which have closed.

White Lodging declined to discuss more granular details of the development at this time.

In…

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Austin high-rise plans preserve Old Depot Hotel

In Austin, the more things change the more they stay the same.

While Stonelake Capital Partners is about to add another high rise to the Austin skyline, the company is set on preserving the historic Old Depot Hotel next door. This week, the Austin Design Commission recommended the project for a downtown density bonus, which lets buildings rise taller than is typically allowed, the Austin Business Journal reported.

To qualify for the Downtown Density Bonus Program, a project must either incorporate affordable housing or pay a fee. Stonelake has opted for the latter — to the tune of $4.5 million.

The commission vote comes a little over a year after Stonelake first unveiled plans for the site that many know as the old home of Italian…

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