Exciting new construction continues for Downtown Austin. How will your favorite corner of downtown be transformed? « Downtown Austin Condos

Exciting new construction continues for Downtown Austin. How will your favorite corner of downtown be transformed?

by | September 11th, 2012

By Shonda Novak

Published: 10:13 p.m. Saturday, Sept. 8, 2012


Construction cranes, jackhammers and cordoned-off streets have resurfaced on the downtown landscape again, signaling another upturn in the cyclical real estate market post-recession and more change ahead for downtown Austin’s skyline.

The skyline changed dramatically in the past decade, with the addition of nearly 4,800 residential units — 2,465 apartment units and 2,319 condos — since 2000, according to Capitol Market Research, an Austin-based real estate consulting firm. The projects have included landmark skyscrapers like the 56-story Austonian high-rise; the Four Seasons Residences (32 stories); the W Austin Hotel and Residences (37 stories); the Spring condominium tower (42 stories); the Ashton apartment high-rise (36 stories); the 360 condominiums (44 stories); and the Frost Bank Tower (33 stories).

Soon, the city’s skyline will be even more impressive, with about 500 apartments and more than 1,300 hotel rooms now under construction and about a dozen other projects planned, including two apartment towers that developers expect to announce soon.

Here are details on some of the projects:.


Under construction:


A. Gables Park Plaza II

Developer: Gables Residential

Location: 111 Sandra Muraida Way

Stories: 18

Units: 222 apartments

Projected completion: late 2013

Cost: Undisclosed


B. Third and Brazos

Developer: Riverside Resources

Location: Third and Brazos streets

Stories: 16

Units: 277

Projected completion: 2013

Cost: Undisclosed


C. JW Marriott hotel

Developer: White Lodging Services Corp.

Location: Second Street and Congress Avenue

Stories: 33

Rooms: 1,012

Projected completion: early 2015

Cost: $300 million


D. Hyatt Place

Developer: White Lodging Services Corp.

Location: Third and San Jacinto streets

Stories: 17

Rooms: 296

Projected completion: spring 2013

Cost: Undisclosed




1. SkyHouse

Developer: SkyHouse Austin LLC

Location: 51 Rainey St.

Stories: 23

Units: 320 apartments

Projected start: Within the next two weeks

Cost: Undisclosed


2. 3rd & Colorado

Developer: Cousins Properties Inc.

Location: Colorado and Third streets

Stories: 30

Square footage: 390,000 of office space; 6,000 of retail

Projected start: late 2012

Cost: Undisclosed


3. The Fairmont Austin

Developer: Manchester Texas Financial Group

Location: East Cesar Chavez and Red River streets

Stories: 50

Guest rooms: 1,000

Projected start, completion: spring 2013 — 2015

Cost: $350 million


4. Planetarium

Location: North Congress Avenue and Martin Luther King Jr. Boulevard

Stories: 47; would include mixed-use tower with a planetarium, science museum, technology center, plus shops, restaurants and residences

Developer: KUD International

Square feet: 801,800

Projected start, completion: late 2014 — late 2016.

Cost: $240 million


5. Rainey Center

Developer: the Sutton Co.

Location: Rainey Street/Driskill/East Avenue

Stories: Up to 50 each in two towers

Units: 800 to 1,000 apartments and condominiums

Projected start: Undetermined

Cost: More than $100 million for the first phase, which would include about 250 residential units and a boutique hotel with 150-200 rooms


6. Seaholm Power Plant redevelopment

Developer: Seaholm Power LLC

Location: West Cesar Chavez Street

Stories: 28 in proposed apartment tower, plus a low-rise retail/office building and restored Seaholm structure

Units: 294 apartments; 130,00 square feet of office space; 50,000 feet of retail, restaurants

Projected start: late 2012

Projected completion: 2014

Cost: Undisclosed


7. Former Austin Energy Control Center site

Developer: Constructive Ventures

Units: The project will have condos or apartments, depending on market demand, along with retail and possibly some office space

Projected start: 2014-2015

Projected completion: 2016-2017

Cost: Undetermined


8. Green Water Treatment Plant redevelopment

Developer: Team led by Trammell Crow Co.

Location: West Cesar Chavez Street

Stories: two towers, each at least 30 stories tall with 826 apartments, plus a 17-story hotel, a 28-story office tower and 82,000 square feet of retail; 1.75 million square feet of development in all.

Projected start: early 2013

Cost: $500 million


9. Future Whole Foods headquarters

Developer: Schlosser Development Corp.

Location: West Sixth and Bowie streets

Number of stories: Two buildings, one 20 stories and the other four or five stories

Square footage: 325,000 in the tower; 100,000 in the smaller building

Projected start: late 2013

Projected completion: late 2015 for the tower

Cost: Undisclosed


10. 3 eleven Bowie

Developer: Endeavor Real Estate Group and the Lynd Co.

Location: 311-315 Bowie St.

Stories: 36

Units: 358 apartments, along with 42,000 square feet of office and 3,890 square feet of retail

Projected start: third quarter 2012

Projected completion: first units ready August 2014

Cost: Undisclosed


11. IBC Bank Plaza

Developer: Endeavor Real Estate Group

Location: 500 W. Fifth St.

Stories: 13

Capacity: 195,000 square feet of space, most of which will be for offices

Projected start: December

Projected completion: May 2014

Cost: Undisclosed

| Category: Austin Real Estate News |

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