[Urbannizer]

Redevelopment Planned for Six-Acre Site on South Congress

An application for a planned unit development (PUD) 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.

New York-based international development firm The Related Companies, best known for massive projects like Hudson Yards but now turning its interest to a number of sites in South Austin, purchased these properties out of bankruptcy for $65 million from perpetually struggling local firm World Class Holdings last summer. The eventual plan for the site is some sort of mixed-use redevelopment, but now that the owners appear to be kicking off the PUD negotiation process with the city for the land, we’ll probably soon get a better idea of precisely what’s in store for this uniquely large site. Local land use law firm Armbrust & Brown filed the PUD application with the city earlier this week, but no details of its scope have been made public at this point.