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Austin FC stadium, Giga Texas, Waterloo Park and 5 Austin towers slated for delivery in 2021
07 January
(Austonia staff)
Despite the pandemic, and uncertainty about the future of office work, new towers and other developments continue to spring up across Austin.
This year, some significant downtown projects, as well as major new projects from Tesla and Austin FC that are farther afield, will officially open. Here are eight to look out for:
1. Office tower at 300 Colorado St.
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDYxNy9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjgzMjU1MH0.GzJ4iUJOfoCb5nk3LFIZxOvau9cDGq604U1CaWbZcyE/img.png?width=980" id="0d05a" class="rm-shortcode" data-rm-shortcode-id="14e6cf52f2cd05650f57dafae233530b" data-rm-shortcode-name="rebelmouse-image" data-width="1418" data-height="1086" />(Cousins Properties)
<p>This 32-story office building at 300 Colorado St. is scheduled to be completed this quarter. Developed by Cousins Properties, the tower will be home to Austin-based oil and gas company Parsley Energy, which has leased all of its office space. It will also be home to retail tenant <a href="https://communityimpact.com/local-news/austin/central-austin/features/business/2018/09/12/del-friscos-grille-to-open-at-300-colorado-in-downtown-austin/" target="_blank">Del Frisco's Grille</a>. </p>2. Office tower at 405 Colorado St.
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDYyOS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NTg2NTc0M30.If8Tyh_WpepzDNlx_zLOULavSuYfS1aEaaQxOH2N2MI/img.jpg?width=980" id="70136" class="rm-shortcode" data-rm-shortcode-id="cf3cd0ab6476aa3fb19d81b1b1a466eb" data-rm-shortcode-name="rebelmouse-image" data-width="1000" data-height="1000" />(Brandywine Realty Trust)
<p>This 25-story office building at 405 Colorado St. is also scheduled to be completed this quarter. Developed by Brandywine Realty Trust, its tenants will include the investment management and research firm AllianceBernstein. According to the developer's website, the tower boasts an above-market parking ratio, "making it one of the easiest places to park" downtown. </p>3. Hotel tower at 5th & Brazos
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MTE5Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyMzY1OTE2Mn0.FyAXKrikN-ZDUVVTainJHMdR2pieDjIU9DMN6gSeFNE/img.jpg?width=980" id="4d64c" class="rm-shortcode" data-rm-shortcode-id="cd10a6fbd6f4461828dc8412687d8802" data-rm-shortcode-name="rebelmouse-image" data-width="1105" data-height="663" /><p>This 32-story mixed use tower at 501 Brazos St. will open this quarter. Developed by the Magellan Development Group, the building will include tenants Thompson Hotels, a luxury boutique hotel chain that is owned by Hyatt and has outposts in Nashville and Chicago, and tommie hotels, a micro-hotel company that caters to a younger market. </p>4. Indeed Tower on 6th Street
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MDU5NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY3NDExNzYyMn0.sH2wiwzlgY0ly0eQB_OTG_B-6QgXUcs44gT_kDQpnBU/img.jpg?width=980" id="1aff1" class="rm-shortcode" data-rm-shortcode-id="1ab733ac31ab889ad128f37923b0b663" data-rm-shortcode-name="rebelmouse-image" data-width="608" data-height="436" />(Trammell Crow)
<p>This 36-story office building at 200 W. Sixth St. will be completed this March, according to developer Trammell Crow. Tenants include the worldwide employment website Indeed, the Teacher Retirement System of Texas and the Austin-based title insurance company Heritage Title. The site of this forthcoming tower was formerly a post office built in 1914. </p>5. Austin FC Stadium at McKalla Place
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDc2ODM1OC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2MTc5MjE5MX0.zAUVTauYIB5xq3lItXOPBO9dmQ21Cr63K31-s1bLCQU/img.jpg?width=980" id="08232" class="rm-shortcode" data-rm-shortcode-id="c217c076fb05e62fc04adde10294fab3" data-rm-shortcode-name="rebelmouse-image" />(Laura Figi/Austonia)<p>The $260 million Austin FC stadium is scheduled to open at 10414 McKalla Place in North Austin this spring, ahead of the Major League Soccer club's inaugural season. It will hold 20,500 spectators and include a 400-person capacity beer hall and multi-level team store. Austin FC's parent company and ownership group, Two Oak Ventures, privately financed the stadium. </p>6. Waterloo Park in Central Austin
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzYzNTI0Ni9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MTkwMTE2N30.UkcMB4h9G31s24PVyIn34QsQko1oYYDplmeTsX8VEHw/img.jpg?width=980" id="048c6" class="rm-shortcode" data-rm-shortcode-id="16c392a35943c170cb8fc0c378a4e3df" data-rm-shortcode-name="rebelmouse-image" />(Waterloo Greenway/Twitter)
<p>Waterloo Greenway, an urban park system that runs 1.5 miles along Waller Creek from 15th Street to Lady Bird Lake, will soon debut its first phase project: Waterloo Park. The 11-acre park is bordered by East 15th, Red River, East 12th and Trinity streets and will open this spring. </p>7. Giga Texas in Southeast Travis County
<div id="56849" class="rm-shortcode" data-rm-shortcode-id="64e485d87768eca5ced0cca49c80e190"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1340500759452942337" data-partner="rebelmouse"><div style="margin:1em 0">🏗 Giga Texas https://t.co/0D6QV1Fcsa</div> — Omead Afshar (@Omead Afshar)<a href="https://twitter.com/omead_a/statuses/1340500759452942337">1608435261.0</a></blockquote></div><p>The forthcoming Tesla Gigafactory in Southeast Travis County is expected to be up and running by the end of this year, with the first substantial completion, or construction milestone, scheduled for May, according to the Austin Chamber of Commerce. The $1.1 billion, 2,100-acre, 7.9-million-square-foot factory will provide at least 5,000 jobs, not including the thousands of construction workers who are currently building it. Omead Afshar, project director within Tesla's office of the CEO, tweeted a photo of the factory's progress on Dec. 19. </p>8. The Quincy in the Rainey Street District
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTI2MTE3OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYyOTA5NDk2NH0.eR-s4Vq_SjvPVIQZj-AVrxlbtv-9MGyWVqUm4YmueZ0/img.jpg?width=980" id="f7cb9" class="rm-shortcode" data-rm-shortcode-id="ed203a0eff3bd19f853bc14a579c072d" data-rm-shortcode-name="rebelmouse-image" data-width="1105" data-height="663" />(Endeavor Real Estate Group)
<p>This 29-story office and multi-family tower at 93 Red River St. will be completed in the third quarter of this year, according to developer Endeavor Real Estate Group. It will join recent high-rise additions in the Rainey Street Historical District, including the residential towers 70 Rainey and 44 East as well as a 51-story mixed-use building planned for 90-92 Rainey St.</p>From Your Site Articles
- Austin FC installs stadium seats, stadium opening in spring - austonia ›
- Austin sees rent drop amid COVID, a rare boon to tenants - austonia ›
- Elon Musk announces Austin Gigafactory will open in 2021 - austonia ›
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The new South Congress comes to life—but good luck finding parking
30 December 2020
(Leslee Bassman)
Although the pandemic has stifled real estate projects in much of the nation, developer Turnbridge Equities LLC managed to bring a unique, successful spin to Austin's South Congress area. By encompassing the same moniker as the venue's Music Lane sidestreet, from a branding perspective, the new, multi-use development strikes the right chord.
<p>Designed by architecture firm <a href="https://www.lakeflato.com/" rel="noopener noreferrer" target="_blank">Lake | Flato</a>, the project is constructed along the north end of the South Congress entertainment district at Academy Drive. At a total area of just over 300,000 square feet, the site combines office, retail, restaurant and fitness venues.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img class="rm-shortcode" data-height="924" data-rm-shortcode-id="385885f11d2cd90d6d9b10f6459e467c" data-rm-shortcode-name="rebelmouse-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTExODA5MC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzOTc2NDg2OH0.55-EyWbsAGqY7TYq05kZ8E3eE6hVV2o9l7w5rFoIwJc/img.png?width=980" data-width="2030" id="32a65" type="lazy-image"/>
<small class="image-media media-caption" placeholder="Add Photo Caption...">(Leslee Bassman)</small></p><p><br/></p><p>"A lot of people don't realize that Music Lane was actually first a street (off) South Congress," said Taylor Shepherd, communications and engagement manager for <a href="http://endeavor-re.com" target="_blank">Endeavor Real Estate</a>, the firm that serves as the <a href="https://www.endeavor-re.com/assets/files/190423_TBE_MusicLane_OfficeBrochure_R16_lo.pdf" target="_blank">commercial real estate leasing agent and property manager</a> for a majority of Music Lane. "The development itself was drawn from that name and that street so we also love that it pays homage to Austin's live music scene."<br/></p><p>She said the project aims to fill the gap between downtown and South Austin, with that goal reflected in the mix of local retailers as well as stores that are making their Texas debut in the project. </p><p style="margin-left: 20px;">Retailers include: </p><ul class="ee-ul"><li>Allbirds, Buck Mason, Equinox (fitness)</li><li>Everlane</li><li>Frame</li><li>Le Labo</li><li>Lululemon</li><li>Madewell Men's</li><li>Manready Mercantile</li><li>Nak Armstrong</li><li>Neighborhood Goods</li><li>Parachute</li><li>Reformation</li><li>Tuft & Needle</li></ul><p class="shortcode-media shortcode-media-rebelmouse-image">
<img class="rm-shortcode" data-height="1424" data-rm-shortcode-id="d042e27567362be4ad95297ea1832e43" data-rm-shortcode-name="rebelmouse-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTExODEyNy9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NDE4ODM4Mn0.4a-0gSCNdsIFiazu0GqlACeC5-NiVquzfmQeJMar1tk/img.png?width=980" data-width="2146" id="86ec6" type="lazy-image"/>
<small class="image-media media-caption" placeholder="Add Photo Caption...">(Leslee Bassman)</small></p><p><br/></p><p>"There was a strong desire from the retail community to be on South Congress, something upscale," Turnbridge Principal Roger Plourde said.</p><p>Deep and wide, he said two acres within the roughly three-acre tract that was redeveloped offered the opportunity to provide individual tenant spaces within a structure featuring paseos and walkways converging at central spots.<br/></p><p>The second and third phases were revitalized from older, garden-style apartments, Plourde said.</p><p>However, the timing of the project's opening—to coincide with Austin's iconic SXSW festivals—proved a bit frustrating for the developers as the pandemic took hold, Plourde said. </p><p>The first retail tenant, <a href="https://www.allbirds.com/?utm_source=bing&utm_medium=cpc&utm_campaign=Search+%2F%2F+US+%2F%2F+Allbirds+Brand+D&utm_content=_1153388189734031&utm_term=bird%20all%20shoes_kwd-72087174820892:loc-71126&msclkid=f1c8c953f408126a435e9687f4ecb024" rel="noopener noreferrer" target="_blank">Allbirds</a>, opened just seven days before the commercial district shut down in March, Shepherd said. Two other tenants also opened very briefly that week; however, all three stores closed shortly thereafter, Plourde said. But the project is now on track.</p><p>"That was a hard hit," Plourde said of the shops and restaurants that shuttered due to coronavirus precautions. "That was a really tough time for us but I think all of our tenants showed a great deal of resilience. They're all back and with their doors open now."</p><p>Four restaurants are now open as well as 14 vendors, with only one retail space remaining to be filled, Shepherd said. Austin-based jeweler <a href="https://nakarmstrong.com/" rel="noopener noreferrer" target="_blank">Nak Armstrong</a> welcomed customers in his first flagship store on Dec. 8, she said. Global design and strategy firm, <a href="https://www.frogdesign.com/" rel="noopener noreferrer" target="_blank">Frog Design</a>, erected its sign two days later, and is slated to take occupancy in January, Plourde said. </p><p style="margin-left: 20px;">Restaurants include:</p><ul class="ee-ul"><li>Aba, Prim and Proper (within Neighborhood Goods)</li><li>Sunlife Organics</li><li>Sweetgreen</li><li>Two Hands</li></ul><p><span></span>According to Bea Reeve-Tucker, communications assistant for <a href="https://www.sohohouse.com/en-us/" target="_blank">Soho House & Co.</a>, an offshoot of the London-based exclusive club is slated to be included among Music Lane's inhabitants this summer. The approximately 65,000-square-foot site will be the community's first in Austin and third in the U.S., following New York and Los Angeles openings.</p><p>The private group attracts members in creative industries and offers an environment for living, relaxing and dining. The Austin facility will feature a rooftop pool, a members' screening room and 46 bedrooms, Reeve-Tucker stated in an email to Austonia.</p><p>Mediterranean restaurant <a href="https://www.abarestaurants.com/" target="_blank">Aba</a>, named for the Hebrew word "father," chose Music Lane as its inaugural location outside of the Windy City. The eatery, owned by dining enterprise Lettuce Entertain You, is centered around a prominent oak tree and, serendipitously, had planned for 70% of its seating to be outdoors, even before the pandemic hit, said Lettuce Associate Partner Sue Kim who recently relocated to Austin.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img class="rm-shortcode" data-height="1414" data-rm-shortcode-id="e69cad78f20b6ed9e5151b8d8af521fc" data-rm-shortcode-name="rebelmouse-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTExODIzNC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0NzY3MDg5Nn0.VafsBJEr2mrkn29ae4V_okosVe1mTaXEaypvHTm0G_8/img.png?width=980" data-width="2128" id="edd19" type="lazy-image"/>
<small class="image-media media-caption" placeholder="Add Photo Caption...">(Leslee Bassman)</small></p><p><br/></p><p>The group had been "enamored" with the city for quite some time, she said, visiting for a company retreat in 2017 before the opportunity to join the Music Lane community came along.<br/></p><p>"I think South Congress has been a historic part of this city," Kim said. "The location is terrific: it's close to downtown, it's adjacent to some of the existing restaurants and history."</p><p>She said the nearby neighborhoods of Bouldin and Travis Heights can benefit from its residents having the amenities that Music Lane offers. And, the project's landscape, its openness and tree preservation, is also a draw for customers, she said.</p><p>Shepherd credits Aba's success to its strong following in Chicago's Fulton Market District.</p><p>"Aba, as a concept, is about Mediterranean dining and creating this oasis, making people feel like you just landed somewhere in the Mediterranean and have this lush greenery," Kim said. "This is what we created in Chicago on a very large scale roof deck. So, in many ways, it was a really perfect concept for this area given that we wrapped our patio around this beautiful, beautiful oak tree. It is a landmark piece."</p><p>Local design and architecture firm <a href="https://www.gensler.com/offices/austin" rel="noopener noreferrer" target="_blank">Gensler</a> became the development's anchor tenant in March, occupying two floors, or roughly half of the project's approximately 52,000 total square feet of office space, including a skylight, double-story staircase and a 10-foot by 26-foot digital wall, Managing Director Todd Runkle said. However, due to all of its employees working remotely while the pandemic is in play, the new offices wait to be filled, he said.</p><p>"There's nothing like this," Runkle said of Music Lane. "We, at Gensler, felt it was about being a part of Austin. That's really why we wanted to be down here. It was a project and space that we thought reflected Austin and where we want to be in the future."</p><p>Gensler's 147 employees have recently been working on large-scale projects including creating the Austin FC soccer stadium; developing the city's soon-to-be largest tower, 6XGuadalupe; renovating the University of Texas Moody Center's basketball arena; and expanding the Austin Convention Center. With room for up to 220 employees, the new Music Lane office provides space for the company to grow.</p><p><a href="http://www.tritiumpartners.com/" rel="noopener noreferrer" target="_blank">Tritium Partners</a> and <a href="https://www2.deloitte.com/us/en.html" rel="noopener noreferrer" target="_blank">Deloitte</a> have joined Gensler as office tenants in the complex.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img class="rm-shortcode" data-height="1358" data-rm-shortcode-id="bec2ce5578d4cc8d062692c814c72443" data-rm-shortcode-name="rebelmouse-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTEyMjY0NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NzUxMTg5NX0.hiMpATCDgzcpnfsIhBF_xOmqC5W7KcY-VuU1pVEbeQ0/img.png?width=980" data-width="1900" id="f7914" type="lazy-image"/>
<small class="image-media media-caption" placeholder="Add Photo Caption...">(Isabella Lopes)</small></p><p><br/></p><p>Music Lane is in sync with surrounding venues created by former Bunkhouse Group hotelier Liz Lambert, including the recently opened Hotel Magdalena, an 86-room South Congress lodging at Music and Academy, and established Hotel Saint Cecilia that is adding residential units to its site. <br/></p><p>But, feedback from locals isn't all positive.</p><p>"It's like they built a little domain down there," said Alan Barnett, owner of South Congress gift and accessory shop Prima Dora, after eyeing the Music Lane project. "I'm not sure if I like it or not. I'm trying to be open minded about it. But at the same time, it's like, now you're changing us too much, Austin."</p><p>After settling in the neighborhood about two decades ago, he's "watched some incredible houses being moved out of this neighborhood and very modern things being built here."</p><p>Barnett touts the area's popularity as stemming from its vintage homes and large trees.</p><p>"And now getting rid of those houses, it's going to look like anywhere else," he said.</p><p>Diners and shoppers are also unhappy with the scarcity of parking at the new venue.<br/></p><p>Shepherd said that issue may stem from patrons not being aware of the project's parking garage—an underground facility that can hold 496 vehicles.</p><p>To get the word out about the garage and the development, she said Music Lane and the South Congress Shopping District held the <a href="https://musiclaneatx.com/socostroll/" target="_blank">SoCo Stroll</a> this month. The event features holiday activities, retailer discounts and performances through Dec. 31.</p><p>Despite the pandemic, construction at Music Lane has been able to continue, Shepherd said.</p><p>"We've just been very fortunate to have the majority of our tenants open safely," she said.</p><p><em>Laura Figi contributed to this story.</em></p><p><strong>More on South Congress:</strong></p>
<h2><a href="https://austonia.com/historic-south-congress-2648888019" target="_self">Austinites retell history as they know it on iconic South Congress</a></h2>
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTExODM3NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyNDI0MjgzMn0._Gkx6u3OKkSw4QjH09OJawE_1FVPIvR6oF6FoSHDKgg/img.png?width=980" id="80e2d" class="rm-shortcode" data-rm-shortcode-id="01920e2c726aa18554818e3bfd8995e5" data-rm-shortcode-name="rebelmouse-image" data-width="1590" data-height="1050" />
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(Sasaki)
The 97-acre mixed-use development slated for 4700 East Riverside Drive has a new name—River Park—and master plan that includes the addition of a 12-acre retail center.
<p>The developer behind River Park, Presidium, shared its vision for the project, which will include more than 400 affordable units as well as 10 million square feet of offices, shops, hotels, parks and homes. </p><p>Bordered by the Roy G. Guerrero Colorado River Metro Park and Country Club Creek, the development will feature access to the Ann and Roy Butler Hike and Bike Trailer and more than 30 acres of publicly parkland and urban trails. It will also be served by a forthcoming light rail line planned under Project Connect, the $7.1 billion transit overhaul that Austin voters <a href="https://austonia.com/prop-a-austin-results" target="_blank">recently chose to fund</a>. </p><p>"The location and size of River Park provides a unique opportunity to solve and address some of Austin's biggest challenges such as housing supply, affordability, connectivity and mobility—all on an urban-infill site within five minutes of downtown," Presidium Director of Development Michael Piano said in a statement Monday. </p><p>River Park is scheduled to be built in phases over the next two decades, with a preliminary start date planned for 2023. </p><p>Austin City Council voted 6-3 in October 2019 to approve zoning changes for the site, which is at the intersection of Riverside and South Pleasant Valley Road, after <a href="https://communityimpact.com/news/2019/10/17/austin-city-council-approves-zoning-changes-for-controversial-97-acre-urban-village-on-east-riverside/" rel="noopener noreferrer" target="_blank">months of controversy</a>. </p><p>Members of Defend Our Hoodz—a local advocacy organization that the Austin Police Department has said overlaps with the Mike Ramos Brigade, <a href="https://austonia.com/city/austin-antifa-looting/particle-1" target="_self">a local antifa group</a>—protested outside the homes of Council Member Sabino "Pio" Renteria and Michael Whellan, an attorney whose firm represents the developer. </p><p>The University of Texas at Austin student government voted to approve a resolution asking the council to vote against the zoning change or to provide more affordable student housing in the area, which is home to many lower-cost apartments.</p><p>Council members acknowledged concerns that the project would worsen gentrification in one of the few remaining affordable urban core neighborhoods. But they also conceded that development was inevitable. </p><p>"Rejecting this rezoning request will not deflate the redevelopment pressure facing this area," Council Member Natasha Harper-Madison said at the time. "It's a difficult but very real truth."</p>
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(City of Austin)
Austin City Council will decide next week whether to enter into preliminary negotiations with Aspen Heights Partners regarding the redevelopment of the former Health South property and its accompanying parking garage, on Red River Street.
<p>The Health South site, at 1215 Red River Street, would be part of the city's burgeoning health innovation district—a nexus of academic, business and public tenants focused on new health policies, systems and products—along with the redeveloped Brackenridge Campus, Dell Medical School and Dell Seton Medical Center. </p><p>As proposed, the district could provide nearly 3,000 new permanent jobs, increased land value, a new property tax base and $800 million in economic output, according to an analysis <a href="https://downtownaustin.com/wp-content/uploads/2020/01/ExecutiveSummary-Final-highres.pdf" rel="noopener noreferrer" target="_blank">commissioned by the Downtown Austin Alliance</a>. </p><p>It would also be surrounded by other destinations—including the University of Texas at Austin campus, the urban parks network Waterloo Greenway, the Red River Cultural District and the Capital Complex—and served by a realigned Red River Street, which UT is constructing to make space for its new basketball stadium.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img class="rm-shortcode" data-height="465" data-rm-shortcode-id="ca0e0564eb58a5268ef57bbb88c59e99" data-rm-shortcode-name="rebelmouse-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDg1NjA0NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NTQ3MzMxNn0.C_R1R5NRYdmi3pLcdf-gZp48NsAGUGNzHcy-3KSNtEY/img.png?width=980" data-width="485" id="75527" type="lazy-image"/>
<small class="image-media media-photo-credit" placeholder="Add Photo Credit...">(Downtown Austin Alliance) </small></p><p>The Health South redevelopment would serve as a catalyst project, weaving together the different entities of the innovation district and serving its neighboring sites, Economic Redevelopment Program Manager Margaret Shaw told council during a work session on Tuesday.</p><p>The city purchased the Health South property and its parking garage in 2017. At that time, council directed staff to issue a solicitation to redevelop the property, with a focus on including affordable housing. Due to the pandemic, the solicitation process was extended slightly, from November 2019 through April of this year.<br/></p><p>"We were quite pleased with the response from the market, given the fact that we were under a global pandemic and real estate was quite up in the area," Shaw said. "We received four proposals in strong, well known partners locally and nationally." </p><p>City staff recommended Austin-based developer Aspen Heights Partners, which was behind the Independent, a luxury condo tower downtown, based on its proposal. It includes two towers—a 36-story residential building with 348 apartments and 160 condos and a 15-story office tower—connected by an elevated park plaza. More than a quarter of the residential units would be designated affordable, targeting residents who earn between 50% and 60% of the median family income, with ownership options for those earning 80% of the median family income.</p><p>"I find it to be comprehensive and amazing, and it addresses the need in the community (and) it addresses the need in that area," District 1 Council Member Natasha Harper Madison said. "I'm very happy to support this project in District 1." </p><p>Council members postponed the vote until next Thursday to allow residents more time to provide feedback on the proposal. If council grants its approval, city staff will begin preliminary negotiations with Aspen Heights Partners, which could take up to six months. Once that process is completed, the city would move on to negotiating a master development agreement for the project, which could take up to two years, prior to the start of construction.</p><p>Over the last year, some council members have suggested using the site as an emergency homeless shelter, which <a href="https://communityimpact.com/austin/central-austin/government/2020/01/22/with-resources-limited-in-homelessness-initiatives-potential-of-former-healthsouth-property-sparks-disagreement-on-city-council/" rel="noopener noreferrer" target="_blank">prompted disagreement</a> on the dias. </p><p>In the meantime, Austin Resource Recovery has used the former Health South parking garage, at 606 East 12th Street, as part of its <a href="https://austonia.com/homeless-storage-program" target="_blank">Violet KeepSafe Storage program</a>, which provides storage for homeless residents.</p>
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