Wilson Tower, once planned to be Texas' tallest, to be 45 stories "Amid challenging conditions in the real estate and lending markets, a proposed 80-story residential tower that had been planned to be the tallest high-rise in Texas has now been scaled back to 45 stories. Instead of soaring 80 stories — 1,035 feet tall — and having 450 apartment units, Wilson Capital, the Austin-based real estate firm developing the project, now envisions a building with 350 apartment homes in a 45-story tower." (Shonda Novak, Austin American-Statesman)
Hines' tower plans at The Domain take shape "Hines, a Houston-based real estate heavyweight that's already making a mark in the Austin area with multiple projects, is quietly formulating one of its biggest moves yet, with plans to go vertical in The Domain. The company acquired the La Quinta Inn and Suites at 11901 N. MoPac Expy. in June and site plans filed in recent months with the city of Austin indicate Hines intends to redevelop the 4.3-acre site into a mixed-use property with office and multifamily uses." (Cody Baird, Austin Business Journal)
Plans are taking shape to build a dual-banded Hilton hotel in downtown Austin. "The building is proposed to rise 370 feet and encompass 220,634 total square feet on an 11,812-square-foot lot at 415 Lavaca St., according to public documents." (Mike Christen, Austin Business Journal)
New 18-story luxury hotel coming to downtown Austin in 2025 "Downtown Austin will welcome a new luxury hotel in 2025 due to a land acquisition by Adventurous Journeys Capital Partners. ... The hotel—Graduate Austin—will be located at the intersection of Guadalupe and West 18th streets. Once completed, the ground-up development will climb 18 stories and include meeting rooms, a fitness center, a ground-floor cafe, a rooftop bar and restaurant, and a rooftop pool." (Kate McAfee, Community Impact)
Redevelopment Planned for Six-Acre Site on South Congress "An application for a planned unit development at an approximately six-acre land assembly on South Congress Avenue could represent the next step towards building out the South Central Waterfront planning area directly south of the river near downtown Austin. Filed with the city earlier this week, the PUD concerns a collection of three adjacent tracts located around 500 South Congress Avenue, containing the 115-unit South Congress Square apartment complex and two office buildings at 510 South Congress Avenue and 105 West Riverside Drive." (James Rambin, Towers)
Homeowners sue City of Austin over plan to use property taxes along Lady Bird Lake shores "A group of homeowners, including a former state senator and a former Austin City Council member, has sued city leaders over a plan to divert a portion of property taxes to pay for roads, sidewalks and affordable housing in a South Austin neighborhood. Attorneys argue that the City Council’s approval of a tax increment reinvestment zone in the area, also known as a TIRZ, violates state law." (Audrey McGlinchy, KUT 90.5)
More inventory signals stabilizing Austin housing market, says latest report "In what looks like signs of normalizing for both homebuyers and sellers, the Austin-Round Rock metro area now has three months’ worth of housing inventory with active listings soaring to over 8,000. The latest housing market report from the Austin Board of Realtors (ABoR) stated nearly 4,400 homes hit the market in March, which is a 6.6 percent year-over-year increase from last year." (Amber Heckler, CultureMap Austin)
