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The ATX

405 Colorado | 356' | 25-Stories | U/C

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This polarizing office tower is going through the city's approval process.  I like the fact that they don't try to hide the necessary evil parking levels.  It has a glass elevator taking people from the parking levels to the office levels!  

405-Colorado-Rendering-by-DudaPaine.jpg

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This project is pre-leasing and has a website now.  In case those renderings weren't enough for ya', the website has a video.  Here are a couple stills taken from the video showing the tower's location in the Warehouse District:  

405%20Colorado%20Massing%201.png405%20Colorado%20Massing%202.png

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This project is in trouble as proposed.  The Austin Design Commission has twice denied the developers the F.A.R. increase they need to build it.  The commission does not like the amount of proposed parking even though the developer's reason for the parking is that it will serve as a public parking garage and as well as parking for the tenants.  The open level separating the parking and office levels is planned as public space.   

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This project finally looks to be moving forward.  The Design Commission wouldn't approve the needed F.A.R. increase to build it due to amount of parking that they found to be excessive.  But the Planning Commission (which can apparently  override the concerns of the Design Commission) votes on it tomorrow, and the Planning Commission's staff recommends approval.  The Planning Commission usually follows the staff's recommendations.

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This one seems to have all the city approvals that it needs, but the site plan still hasn't been officially approved and released.  The developer, Brandywine, recently tweeted "Austin is a great city for car-free living, especially around our downtown development, 405 Colorado".  That's rather ironic considering the size of their parking garage.

rb4k2wz.png

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After an unusually long delay in gaining city approval, the site plan was approved and released on Thursday.  This project is being built by a REIT, and I don't think financing was ever a problem.  With that said, a groundbreaking announcement should be coming soon.  As an aside, that 10-story building framed between the two tower cranes at right-center in the rendering in the previous post is building that was imploded today. 

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We still don't have a specific start date from the developer.  But the required FAA permits for the building and tower crane were approved this week.

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The tower crane permit was filed today.  In the 10+ years I've been following Austin projects, a tower crane permit filing means a project is  a 100% go.

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A poster at SSP stated that the site is fenced off now.  It was a surface lot.  I figured they would start after SXSW because every surface lot and under utilized piece of real estate downtown can be rented for good money during the festival. 

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The developer set up a little pocket park promoting the project a couple weeks ago as construction kicked off.  I don't know if they snagged any big leases as a result of the effort.

F9lrSVC.png 

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