Austin: Local Investor Group’s Multi-Story Tower Project Awaits City Approval
Feature Photo: Street view of the site where developers will construct a multi-story tower for either a multifamily or office project in Old West Austin. Image: Google/VBX Graphic
by Art Benavidez
Austin (Travis County) — An Austin investor group’s multi-story tower project was recommended for the requested zoning, at last week’s meeting of the Planning Commission.
The 1.38-acre property was converted from general commercial services with vertical mixed use to limited industrial services in a planned development area (PDA). The PDA designation would permit both commercial and residential uses and the investor group wanted that flexibility because they were undecided as to the use of the proposed building.
The site is located within Old West Austin, a neighborhood between the MoPac Expressway and North Lamar Boulevard, just north of Lady Bird Lake.
The tower would go up on a city block between Pressler Street and Walsh Street on the northside of West 5th Street. There are currently four, one-story commercial buildings on site and various utility sheds.
The development would encompass eight lots with the addresses 1200, 1202, 1204, 1210, 1214 and 1214½ W. 5th Street, as well as 504 and 506 Walsh Street. The total square footage of the commercial buildings that need to be razed is approximately 20,982 square feet.
Aerial view of site by City of Austin.
The working title of the project takes its cue from its location, 5th & Walsh Rezoning.
Endeavor Real Estate Group managing principal David Roberts, acting through the special purpose entity 1210 W. 5th Ltd., is working on this project with Jimmy Nassor of Anchor Equities and Walter Penn of Walsh Street Properties Ltd.
They are proposing a building with an area of approximately 75,000 square feet and a height of about 90 feet. The use would either be residential as a 450-unit multifamily project, or a mix of office space with ground floor retail.
The building height was reduced from the initial request of 100 feet to conform with the adopted neighborhood plan. The previous general commercial services zoning limits building heights to 60 feet.
The recommendation was scheduled to go before the City Council on Oct. 14, but did not make the agenda.
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.