The brainchild of 1-800-Contacts founder Jonathan Coon and Four Seasons Hotel and Resorts will soon come to fruition with plans for multimillion-dollar lakefront residences by Lake Austin.
Updates on the project, which was first proposed by Coon three years ago, came out Tuesday, confirming that Coon and his development team were partnering with Four Seasons to create The Four Seasons Private Residences Lake Austin. This is Four Season's first standalone residential development in the state, joining the ranks of current locations in London, Los Angeles and San Francisco.
The development sits on 145 acres and will create 179 units that will range from smaller vacation homes just under 2,000-square feet to 7,000-square foot penthouses.
The luxury homes will start at $4 million and will emphasize comfortability, beauty and privacy. In addition to units that soak in views from multiple directions, the development will include an indoor garden, an athletic center and spa, a private two-story restaurant, clubhouse and theater.
Half of the cliffside views will also turn into a public overlook above the lake and will include free parking, similar to a nearby Pennybacker Bridge overlook located just west of the property.
According to the Austin Business Journal, Coon said that developers will break ground in early 2023 and should be completed by the end of 2025.
In addition to Coon and Four Seasons developers, others working on the project include executive architects Handel Architects LL P and Page Southerland Page, Inc., project engineer Arup Group Ltd. and sales and marketing team Eric Moreland Group.
Coon said the homes will be made with care for a special reason—he and his wife will also be living on the property.
"Our goal is really to maximize the customer experience, probably because we plan on being customers," Coon told ABJ.
- Whisper Valley is a sustainable old school neighborhoods - austonia ›
- 11 women on the cutting edge of Austin development - austonia ›
- Elon Musk will build a solar neighborhood in Austin, Texas - austonia ›
- Developing Camp Mabry could solve Austin's housing crisis - austonia ›
- River Park releases first plans for development - austonia ›
- East Austin development River Park gets new name and plan ... ›
- Condo development breaks ground at Austin's Graffiti Park - austonia ›
- Three new developments near Mueller set to transform over a block ... ›
- 5 mixed-use developments that will change Austin by 2030 - austonia ›
An Austin-based firm that’s established itself as one of the top Bitcoin miners in North America is set to go public.
On Thursday, the company, known as Core Scientific Inc., announced it’s now trading on Nasdaq as $CORZ. The stock opened at $9.74 per share then peaked at $10.48. The company was assigned a $414 million market cap.
"As one of the largest publicly-traded blockchain infrastructure providers and digital asset miners in North America, we are focused on growing our capacity, defending and securing the blockchain ecosystem and building long-term shareholder value," CEO Mike Levitt said.
As reported by Yahoo News, investors approved a plan for a public debut through a $4.3 billion merger with special purpose acquisition company Power & Digital Infrastructure Acquisition Corp. The deal arrives as Austin sees its crypto scene soar, with increased activity in the NFT economy and groups pooling their money together through DAOs.
Core Scientific was established in 2017 and relocated its headquarters from Seattle to Austin last year. It has a site in Downtown Austin on 106 E. 6th St. and data centers in Georgia, Kentucky, North Carolina and North Dakota. More than 100 full-time employees are in the U.S., but it's unclear how many are in Austin.
Now, they say they are the biggest Bitcoin miners based on processing power, with claims that the combined mining capacity on the Bitcoin network exceeds that of competitors. And SEC filings from earlier this month show it's in the process of acquiring Blockcap, Inc., which moved to Austin last year.
The company describes itself as a leader in high-performance, carbon-neutral blockchain infrastructure in an industry that catches flak for its energy use.
Aside from mining, the company provides internet hosting services for other large-scale miners. In fact, it derives about half its revenue by helping big customers mine, a quality seen in what’s often referred to as an “institutional-grade” miner.
Looking ahead, Core Scientific seems optimistic about the year ahead even as Bitcoin falls from its all-time high.
“We’ve worked hard to lay the groundwork that will enable us to achieve our 2022 projections,” Levitt told Yahoo News. “Our objective is to be the best. Being the best means doing all that we can for our business, the industry in which we participate and for the Bitcoin network.”
- Cryptocurrency in austin, what is it - austonia ›
- Austin crypto, nfts, bitcoin billboards set to reach worldwide - austonia ›
- Blockcap, a cryptocurrency company, moves to Austin with plans for ... ›
- A guide to investing in cryptocurrency in austin - austonia ›
- Austin leads in Texas crypto job market - austonia ›
- In 2021, Austin became a hub for tech, pickleball, poker, crypto ... ›
- Blockchain - austonia ›
Watch some Cricket
When: 5:30-10 p.m. Saturday and Sunday
Where: The Crossover, 1717 Scottsdale Drive
What: Looking for a new sport to obsess over? Attend one of Sports Movement’s indoor cricket matches.
Le Garage Sale
When: 11 a.m. Saturday and Sunday
Where: Palmer Events Center, 900 Barton Springs Rd.
What: Find over 100+ boutiques, brands and designers at Le Garage sale. Shop leisurewear, accessories, menswear, children’s apparel, home decor and more. Tickets start at $10.
See a movie at the drive-in
When: 6:25-8:45 p.m., 9:15-10:50 p.m. Saturday
Where: The Globe Drive-In Theater, 8017 Cele Rd.
What: This weekend you can see Harry Potter and the Prisoner of Azkaban at 6:25 p.m. or you can see The Cabin in the Woods at 9:15 p.m. at the drive-in. Tickets cost $16 per car.
Museum of Ice Cream
When: 11:30 a.m Saturday and Sunday
Where: Museum of Ice Cream, 11410 Century Oaks Ter.
What: The Museum of Ice Cream is featuring 12 never-before-seen instillations celebrating the enjoyment of ice cream. View tickets here.
The Austin Flea
When: 12 p.m. Sunday
Where: Meanwhile Brewing, 3901 Promontory Point Dr.
What: Find handmade items, vintage wares, food and drink and more at The Austin Flea at Meanwhile Brewing. Vendors are handpicked for each show to guarantee a great selection of items to shop for.