AUSTIN | Third + Shoal | 389 FEET | 29 FLOORS | U/C | Complete

[H2O]

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[KevinFromTexas]

Great pics. It's amazing seeing these two completely separate construction sites function side by side. That area of downtown is really starting to come together and the vision for it is becoming clear now. Still, though, that electrical substation is the elephant in the room.

[We vs us]

Originally Posted by KevinFromTexas

Great pics. It's amazing seeing these two completely separate construction sites function side by side. That area of downtown is really starting to come together and the vision for it is becoming clear now. Still, though, that electrical substation is the elephant in the room.

Agreed. Also worth noting that the substation is under a CVC, and so has limited redevelopment value. Won't be much reason for a private developer to take this one on if you can't get more than a Central Library-sized building out of the deal.

[paul78701]

Originally Posted by We vs us

Agreed. Also worth noting that the substation is under a CVC, and so has limited redevelopment value. Won't be much reason for a private developer to take this one on if you can't get more than a Central Library-sized building out of the deal.

I believe that enough of it isn't covered to allow for a tower, al la 6th and Guadalupe.
At least that's what I remember from the last time I looked at a CVC map.

[The ATX]

Originally Posted by paul78701

I believe that enough of it isn't covered to allow for a tower, al la 6th and Guadalupe.
At least that's what I remember from the last time I looked at a CVC map.

I think a VERY slender, angled tower (think Block 87) could be built on the Shoal Creek side of the site. But current zoning requiring setbacks from the creek would then kill any tower proposal.

[drummer]

I agree with many comments before that it will probably be a while before the substation goes away. The demand isn't high enough for anyone to fork over the money to relocate the substation and I can't imagine the city moving it as a stimulus thing to generate growth in downtown or anything...without one of those two things happening, I don't see it moving. The supply of decent sites in CBD and relatively near districts as well as Domain, etc., is just too high to justify it. That said, if there's a filthy rich fellow who lurks on this site and wants to improve the aesthetics of that area of downtown, "WE WANT YOU TO MAKE SOMETHING HAPPEN THERE." If there is a significant CVC there, build something for Austin Ballet or another use that would be a blessing to the community at large (perhaps with an emphasis on the arts in some way) and then build a monster tower on the current Austin Ballet lot.

[We vs us]

Yep, probably best chance of getting it moved is if the city id's it as a potential site for a cultural attraction -- either the ballet, as you said, or a library expansion or a museum, etc.

[Mopacs]

Yesterday, 8/19.

[drummer]

Originally Posted by Mopacs

I like this one with the arches sticking out above the trees.

[corvairkeith]

Today.

[The ATX]

Here's a screen capture from a 360 (more like a 290) pano from Cielo's Facebook page.


https://www.facebook.com/cielopropertygroup/

[AusTxDevelopment]

I've heard from multiple sources including someone from CBRE that Facebook finally signed their lease at Third & Shoal. They leased about 90% of the building so it will be the largest office lease signed this year. Around 320,000 square feet. I wonder if they will change the name of the building?

UPDATE: The number was exaggerated. Turns out Facebook leased 230,000 square feet, not 320. Floors 14-23. Still a big number however.

[The ATX]

Originally Posted by AusTxDevelopment

I've heard from multiple sources including someone from CBRE that Facebook finally signed their lease at Third & Shoal. They leased about 90% of the building so it will be the largest office lease signed this year. Around 320,000 square feet. I wonder if they will change the name of the building?

That's big news. But it probably means they won't be leasing a large amount of space in 600 Guadalupe. Since 600 Guadalupe is across the street from their current offices I was hoping a large pre-lease by Facebook would help get that project on the fast track.

[Maximusx1]

Originally Posted by The ATX

That's big news. But it probably means they won't be leasing a large amount of space in 600 Guadalupe. Since 600 Guadalupe is across the street from their current offices I was hoping a large pre-lease by Facebook would help get that project on the fast track.

Not that I know anything, just want to play connect the dots. What if this is Facebook moving their people from 300 W. 6th to 3rd & Shoal? That would free up a lot of space for someone to move into 300 W. 6th. That could be Amazon's first landing spot.

Combine the Block 71 building, 300 W. 6th and 600 Guadalupe and you've got a strong start to a H2Q. Then go for about 1m sq. ft. at both the Post Office site and the Courthouse lot and you're almost there. If they need more then pipe dream would be to tear down the county parking garage and/or the Hobby building. Fun to dream about H2Q

[deerhoof]

Originally Posted by Maximusx1

Not that I know anything, just want to play connect the dots. What if this is Facebook moving their people from 300 W. 6th to 3rd & Shoal? That would free up a lot of space for someone to move into 300 W. 6th. That could be Amazon's first landing spot.

Combine the Block 71 building, 300 W. 6th and 600 Guadalupe and you've got a strong start to a H2Q. Then go for about 1m sq. ft. at both the Post Office site and the Courthouse lot and you're almost there. If they need more then pipe dream would be to tear down the county parking garage and/or the Hobby building. Fun to dream about H2Q

I was just posting about this in the 600 Guadalupe thread. It is very telling that these projects are only fast tracked when they have huge tenants lined up. If I remember correctly, 3rd & Shoal went from concept to under construction very quickly and obviously it was because of Facebook. 600 Guadalupe seems to be fast tracked as well which makes me think they have a huge tenant, potentially Amazon, lined up as well.

[The ATX]

Originally Posted by AusTxDevelopment

I've heard from multiple sources including someone from CBRE that Facebook finally signed their lease at Third & Shoal. They leased about 90% of the building so it will be the largest office lease signed this year. Around 320,000 square feet. I wonder if they will change the name of the building?

UPDATE: The number was exaggerated. Turns out Facebook leased 230,000 square feet, not 320. Floors 14-23. Still a big number however.

I re-quoted (bumped) your post since it had an important update.

Never mind Amazon, Facebook is in the process of establishing a significant downtown campus - 300 W. 6th, One American Center and now Third + Shoal (aka Facebook Tower?)

[KevinFromTexas]

Originally Posted by The ATX

I re-quoted (bumped) your post since it had an important update.

Never mind Amazon, Facebook is in the process of establishing a significant downtown campus - 300 W. 6th, One American Center and now Third + Shoal (aka Facebook Tower?)

They're on a binge right now. They're taking 436,000 square feet in San Francisco's 181 Fremont (awesome tower, btw).

http://forum.skyscraperpage.com/show...137164&page=61

[deerhoof]

Originally Posted by The ATX

I re-quoted (bumped) your post since it had an important update.

Never mind Amazon, Facebook is in the process of establishing a significant downtown campus - 300 W. 6th, One American Center and now Third + Shoal (aka Facebook Tower?)

Do we know if they'll keep their current spaces in Downtown or consolidate into one building at Third + Shoal? I guess I just assumed they would consolidate into one building and never considered them keeping their current space which would be awesome.

[The ATX]

Originally Posted by deerhoof

Do we know if they'll keep their current spaces in Downtown or consolidate into one building at Third + Shoal? I guess I just assumed they would consolidate into one building and never considered them keeping their current space which would be awesome.

I was wondering that too. But an ABJ article from not too long ago about Facebook said they spent millions renovating their offices at one of their current buildings - One American Center I think. So I don't see them moving out of that building.

[corvairkeith]

Today.