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Austin | 56 East Ave. | ? Feet | 25-Stories | On Hold


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A sign recently went up at a county run mental health facility in the Rainey St. District.  It's for a project that's only 25-stories.  But it's mostly - if not all - office, so it should hit the 300' threshold I use for creating dedicated project threads.  Austin Towers has an article about it, and these are from Austin Towers:  

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These are from the architect's website:

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The leasing link in my previous post was for a short term lease for the one-story building on the site.  But a second leasing opportunity has popped up on CBRE for 700,000 sq. ft. in the proposed building.  The  visionary rendering of the 25-story building proposed for the site has nowhere near 700,000 sq. ft. of space.  A building on that site would need to be around 40-stories to have 700,000 sq. ft. of leasable space.  Anyway, here's another rendering of the 25-story version from the marketing materials:  

mC8elFi.png

 

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I'm putting a fork in this project as well as a couple others that I have a thread for.  The developer has been buying up prime (and expensive) downtown property for years, and has done nothing with them except pay property taxes - not a winning business model.  Apparently he is a nut job and is facing several law suits in addition to having his current offices, previous offices and his home raided by the FBI and Treasury Department this week.

ATX Real Estate News

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