Austin | 416 Congress Hotel | 332 FT | 26 FLOORS | Cancelled - Page 8

Flatiron · #**141** Posted **Dec 12, 2015, 4:23 AM**

I prefer the tall skinny ones. I'm excited about this project.

AustinGoesVertical · #**142** Posted **Feb 9, 2016, 5:25 AM**

So the file said Jan 1st, 2016 start date. Went by the site the other day. Zero movement. Any news on this one?

Spaceman · #**143** Posted **Feb 9, 2016, 6:21 PM**

Quote:

Originally Posted by austingoesvertical

so the file said jan 1st, 2016 start date. Went by the site the other day. Zero movement. Any news on this one?

doa

wwmiv · #**144** Posted **Feb 9, 2016, 6:23 PM**

This project has died and returned to life so many times that I lost hope years ago. Ya never know, it might end up happening... but I doubt it.

GoldenBoot · #**145** Posted **Feb 9, 2016, 10:06 PM**

Quote:

Originally Posted by AustinGoesVertical

So the file said Jan 1st, 2016 start date. Went by the site the other day. Zero movement. Any news on this one?

No. It is not DOA.

Come on people...Do you actually think a project is going to start on a holiday? That date was arbitrary.

The site plan has been approved for an extension and is good through November 14, 2018. And that does not mean the building has to be finished by said date.

Also, for those of you not aware...we are entering, at least, a slight downswing for commercial development across the U.S. (and that will affect Austin as well). Equity, capital, and/or financing is becoming tight (and getting tighter) due to several factors including but not limited to the decline in oil prices and several nations (both powerful developed, as well as some major developing nations) experiencing economic recessions due to oil prices, being over extended, the normal ebb and flow of the commercial real estate industry, etc.

Basically, if a project does not already have financing, or is well under way of securing financing, it may be very difficult to complete until the next cycle begins.

AustinGoesVertical · #**146** Posted **Feb 9, 2016, 10:59 PM**

Quote:

Originally Posted by GoldenBoot

No. It is not DOA.

Come on people...Do you actually think a project is going to start on a holiday? That date was arbitrary.

The site plan has been approved for an extension and is good through November 14, 2018. And that does not mean the building has to be finished by said date.

Also, for those of you not aware...we are entering, at least, a slight downswing for commercial development across the U.S. (and that will affect Austin as well). Equity, capital, and/or financing is becoming tight (and getting tighter) due to several factors including but not limited to the decline in oil prices and several nations (both powerful developed, as well as some major developing nations) experiencing economic recessions due to oil prices, being over extended, the normal ebb and flow of the commercial real estate industry, etc.

Basically, if a project does not already have financing, or is well under way of securing financing, it may be very difficult to complete until the next cycle begins.

Oh I know that date was arbitrary. I'm just wondering when we can expect to see some movement. It's been approved already.

GoldenBoot · #**147** Posted **Feb 9, 2016, 11:17 PM**

It would be my guess that if this project were to move forward, one might hear some news in the coming year.

Should they want to complete this project based on the current site plan, I believe they do not have to get "dirt moving" until 4Q2016 to meet the mid-2018 delivery date. This is not a very big building.

The owners/developers would not have gone through the time and expense of extending the site plan by three additional years unless they were serious about (1) developing the property themselves, (2) partner with someone to develop it together, or (3) sell the property for the highest value to another party who may or may not develop it according to the current approvals.

The ATX · #**148** Posted **Feb 22, 2016, 7:44 PM**

There was some permit activity a few days ago. Nothing exciting - just indicates that this is still moving through the the process.

https://www.austintexas.gov/devrevie...erRSN=11485717

The ATX · #**149** Posted **Sep 18, 2016, 6:31 PM**

This project seemed to have come back to life late last year with a permit filing that included talk of the tower crane:

Quote:

We are placing a tower crane in the middle of the lot that has a reach radius of 120-feet.

Permit: https://www.austintexas.gov/devrevie...erRSN=11420807

But this weekend I came across what seems to be a current for sale listing for the property. Maybe some of our posters who work in the local real estate biz have more info.

http://www.swsg.com/listings/index.p...e&showprop=174

ahealy · #**150** Posted **Jan 15, 2017, 3:19 AM**

so this is dead, yeah?

The ATX · #**151** Posted **Jan 15, 2017, 3:22 AM**

I vote yes.

We vs us · #**152** Posted **Jan 15, 2017, 4:51 AM**

Sad.

ahealy · #**153** Posted **Jan 15, 2017, 6:10 PM**

ugh, I just don't understand why it never happened and am too lazy to go back and research. This part of congress NEEDS some height density. I'd be very happy to see a slender apartment tower go up here in the future...or something like Kasita

We vs us · #**154** Posted **Jun 9, 2018, 3:38 PM**

Not that it wasn’t already crystal clear, but whatever plans there were for that boutique hotel at 416 Congress are pretty much dead. An e-tailer based in Lincoln NE is opening an Austin office in that space — anticipates hiring 100+ in the next year, and more growth from there.

https://www.512tech.com/technology/o...o5DJcwWa6B1iP/

The ATX · #**155** Posted **Jun 9, 2018, 10:10 PM**

I added We vs us' post from the Update thread. Put a fork in this one. It's done. It's over. I was holding out hope for it because the site plan is good until October 2018, but that doesn't matter now.

ILUVSAT · #**156** Posted **Jun 10, 2018, 4:55 AM**

Can we put a fork in 99 Trinity and Waller Park Place too?

The ATX · #**157** Posted **Jun 10, 2018, 5:00 AM**

Quote:

Originally Posted by ILUVSAT

Can we put a fork in 99 Trinity and Waller Park Place too?

I would say 99 Trinity is dead if WCC sold the site. Technically it's still alive since they continue to own the site. I can't yet say that WPP is dead because the site plan is in the process of being approved for another three years, and more importantly Sutton is no longer the developer.

Jdawgboy · #**158** Posted **Jun 10, 2018, 11:59 PM**

We know that WCC is just holding the land, 99 Trinity is dead in the form that we knew it. My thinking is there will eventually be something significant built there but it won't be anytime soon and it will be a new incarnation and design.

Geckos_Rule · #**159** Posted **Jun 11, 2018, 12:13 AM**

Quote:

Originally Posted by Jdawgboy

We know that WCC is just holding the land, 99 Trinity is dead in the form that we knew it. My thinking is there will eventually be something significant built there but it won't be anytime soon and it will be a new incarnation and design.

I think it's safe to assume that any plans or renderings provided by a WCC-owned property will absolutely not happen unless they sell and the next developer just decides to co-opt the design