7th & Rio Grande

[eastsider]

Looks like another residential highrise is in the works for downtown Austin. CBL Partners is planning to build a 32-story condominium tower at 7th & Rio Grande and would include 160 residential units and 7,400 sf of ground floor retail space. The site currently includes space occupied by Ranch 616. The developers plan to include space for the restaurant/music venue within the parking deck of the new building. The project will have 2-levels of undergound parking for retail and 5-levels above ground for residents. Groundbreaking could take place in spring 2007.

A representative of the developers presented the project to the Downtown Austin Commission on Wednesday. CLB Partners is seeking a zoning change which would allow for greater density than is currently allowed. The commission unanimously approved the request. Next week, the project goes before the Austin Design Commission and the city's Planning Commission. It's set for a hearing before the City Council on Nov. 30.

[eastsider]

The Statesman is also reporting about this project as well.

The new project would be built at the southeast corner of West Seventh and Rio Grande, behind Katz's Deli. A one-story building with several short-term office tenants would be razed to make way for the high-rise. The project would be built around the Ranch 616 restaurant.

[erdogs]

It's hard to believe that the demand is still their for condo's when you hear how the market has fallen. If all the projects downtown are built I would be surprised. Pleasantly that is!

[eastsider]

I too would be shocked if all the proposed towers were to get built. I think that this one stands a good chance to make it. From what I know about CBL, they have a pretty good track record of getting their projects done in Dallas and Austin. Anyway, I hope this one makes it as I think it is my favorite design of all the proposed towers.

The projects that I have the most doubts about are the ~700 footers. It seems like 5th & Congress has been stretching on forever with no action in the last couple years other than renderings coming out. I'm not sure about 200 Congress, I don't know the history of Benchmark Development to know what to expect from them.

As far as the projects that I think have very good chances of making it(excluding the ones already under construction). I think the Spring will having recieved financing for construction. Novare's project at the post office site, although it will probably be a couple years before it starts. Then the projects with hotel chains involved which include the W and Hotel Van Zandt.

[Goothrey]

Design is unique and seems to describe Austin in my opinion because of the mismatched section which could represent Austin's diversity. It would be cool if the tower had a beam of light shooting into the night sky like it shows in the picture. Being a residential tower I would not suspect it.

[JDawgboy]

While nationally the condo market has fallen, that is not the case yet with the Austin area and many indicators show that the Austin area will continue to see strong growth for at least the next year wich is why you continue to see new proposals comming out. While not all the proposals that are announced will ultimatly get built, Chances are good for half of what is proposed. At this point its becoming a race to see which developers can get their buildings up first, once they start construction then they are in the clear and those buildings will go up. Im not sure what is going on within the Stacy Camp as far as 5th at Congress is concerned but I do know that he has back up plans depending on what the market does so for example if the condo boom does slow, I believe he has it covered with expanding the office element of the project wich downtown Austin is slowly beginning to see more of a demand for office space. 200 Congress has actually done some surveying and about a month or two ago had a small blimp floating around the 700 foot mark to take pictures I guess for their website. These projects are not out of the picture yet. Infact we should hear more about 200 congress around spring of 2007.

[eastsider]

According to The Austin Chronicle, the city of Austin Planning Commission did not support a zoning change to allow this project to be built at its planned height of 400'. They did agree on a zoning that would allow a height of 120'. The city council could still approve this project and should be voting on it sometime around late January.

[erdogs]

That really blows!

[eastsider]

The zoning for this project has been delayed and will now go before the Austin City Council on Thursday, Feb. 15th. Many groups and businesses have come out both for and against this project being built at the full 32-story planned height. Should be interesting to see how this one turns out.

The Planning Commission recently recommended capping the building's height at 120 feet, a move backed by the opposition group.

The city's Design Commission supports a 400-foot structure, although it called for features that would complement the area's historic buildings.

[eastsider]

This project was approved for the full 400' height on the first reading of the Austin City Council last night with a 6-0 vote. It must pass two more readings before it can become official.

[JDawgboy]

They have put up billboards on the site and it now shows it will be 34 stories.