Feature Illustration: Artist rendering of the tower located at 415 Colorado Street in downtown by Ziegler Cooper Architects.
by Art Benavidez
Austin (Travis County) — A local developer is pursuing density bonus from the city in order to build a 50-story mixed-use tower in the downtown Warehouse District.
The Design Commission was expected to vote on a density bonus for the project, but the meeting was postponed due to a lack of quorum.
VBX firstreported on the project in December of 2019 when Ryan Companies filed paperwork to build Tower 5C, a 41-story office tower with street-level retail at a 0.507-acre site (22,080 sf) at 415 Colorado Street.
A memorandum submitted to the commission by the new developers, Stonelake Capital Partners, shows that those plans have changed to a 50-story tower under the working title 415 Colorado Street. It would include 107,860 square feet of office, 426,968 square feet of residential and 15,799 square feet of lounging space.
Ground floor site plan.
The total requested Floor-to-Area (FAR) ratio would be 25:1 to arrive at 550,627 square feet. The building includes 11 levels of above ground parking.
Stonelake Capital Partners, under the entity 415 Colorado LP, is seeking a density bonus that would raise the FAR from 8:1. The size of the property allows for a building size of 176,641 square feet based on the 8:1 FAR.
If approved for the density bonus, the maximum achievable height would be unlimited in this portion of downtown.
The project will include 107,000 square feet of office space and 328 residential units.
The project exceeds by a factor of two the requirement in the city’s urban design guidelines.
Approximately a quarter of the ground floor will be occupied by the office lobby/lounge and a residential lobby with lounge.
The street level is designed to welcome pedestrians by providing outdoor seating at the West 5th and Colorado corner that will be serviced by a street vendor. This outdoor covered space extends along West 5th to the alley and down Colorado to the garage entrance.
Additionally, the application states that clear glass will be utilized at ground level, along the public with the façade of the tower “broken up by using diverse materials and the motor court façade treatment serves as a good transition to the building next to it.”
Ziegler Cooper Architects, out of Houston, and the Austin-based civil engineers GarzaEMC are on board the project.
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.