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Austin: Local Businessman Seeking to Develop a Multifamily Project on East Riverside Waterfront

Feature Photo: An aerial view of the proposed site with the Colorado River in the background. Image: Google/VBX Graphic.

Posted: 4-28-2021

by Art Benavidez

Austin (Travis County) — An Austin businessman received a zoning adjustment in order to develop a multifamily project on East Riverside waterfront.

At Tuesday’s session of the Planning Commission, the Corridor Mixed Use zoning for a 2.6-acre site was adjusted to provide eligibility for the density bonus program.

The Acton School of Business currently occupies the site, and the proposed development has the working title Acton Site. Its address is 1404 E. Riverside Drive.

The existing zoning of the property only allowed for a height up to 60 feet and 2:1 floor area ratio. The change would permit a height of 120 feet under some circumstances, but this lot is adjacent to the Colorado River and subject to the waterfront overly, which caps building heights at 96 feet.

Jeff Sandefer, who founded the school, sought eligibility in the density program to develop the project with up to 250 units, including units at 60% of the median family income.

Sandefer does not intend to go beyond the 96-foot limit. However, the 120-foot option was the most viable height choice that the regulating plan currently offers.

The development’s participation in the density bonus program to obtain the requested height of 120 feet also allows the project to pursue further affordable housing options and promotes higher-density, which supports transit development along this future rail line corridor.

The property is located along the East Riverside Corridor Core Transit CorridorThe Austin Strategic Mobility Plan identifies a need for 140-foot of right-of-way for Riverside Drive

City Council is scheduled to hear the recommendation at their May 20 meeting. 

VBX Project ID: 2021-2EDD


art@virtualbx.com

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By |2021-04-28T13:31:19-05:00April 28th, 2021|Construction Preview, Feature Story|

About the Author:

Art Benavidez (Construction News Reporter, Central Texas) is a seasoned journalist with over 15-years of experience in writing breaking news and in-depth features at the local level. He honed his research and reporting skills in newspapers and magazines throughout South and West Texas along with expertise in crafting digital content as Managing Editor of New Image Marketing Research Corporation. Benevidez is a Texas native and graduate of UT-RGV.

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