AUSTIN | 701 Trinity (Block 87) | 428 FEET | 31 FLOORS | Resurrected - Page 7

The ATX · #**121** Posted **Oct 20, 2018, 4:32 PM**

Quote:

Originally Posted by H2O

Was the original site plan application deadline looming? Sometimes that is the best way to keep the project alive if everything is done except for legal paper work such as easements, license agreements or financing agreements. If you let the site plan application expire and stay dormant until other paper work is complete, you have to start all over again at the back of the que. But if you withdraw and immediately resubmit, they treat as if it is still active (except that you have to pay the fee again).

That does appear to be the case as opposed to any major changes to the project. But then there's George Blume's post a few posts back.

AusTxDevelopment · #**122** Posted **Jan 2, 2019, 6:24 PM**

The Episcopal Church sold Block 87 to an entity controlled by Cielo Property Group, according to a press release posted today:

Episcopal Church sells Austin property
Proceeds from sale to accelerate new Archives
https://www.episcopalnewsservice.org...stin-property/

Quote:

“This transaction is a positive development,” said Episcopal Church Presiding Bishop, Michael Curry. “It broadens the church’s opportunities and creates new possibilities for addressing the archival needs of the church.”

“The sale of this parcel to CPG Block 87, LP refocuses our approach to securing a new home for the Archives,” said Mark Duffy, director of The Archives of the Episcopal Church. “Developing a building in Austin Block 87 required a significant endowment to support operating costs. Unlocking the appreciated value through this sale gives us the flexibility to move ahead and explore different options for an Archives of the 21st century.”

GoldenBoot · #**123** Posted **Jan 2, 2019, 9:26 PM**

Has the site plan for this project lapsed?

The ATX · #**124** Posted **Jan 2, 2019, 9:30 PM**

Quote:

Originally Posted by GoldenBoot

Has the site plan for this project lapsed?

No, but it's been inactive for months. And that's after the original one (that we have renderings for) was withdrawn and resubmitted because the original site plan application was expiring.

StoOgE · #**125** Posted **Jan 2, 2019, 9:49 PM**

Quote:

Originally Posted by GoldenBoot

Has the site plan for this project lapsed?

It won't matter as the Church sold the land and doesn't appear to be looking to put the archives in a mixed used development on the location any longer.

I'm assuming this is going to be completely different from before.

GoldenBoot · #**126** Posted **Jan 2, 2019, 10:05 PM**

Quote:

Originally Posted by StoOgE

It won't matter as the Church sold the land and doesn't appear to be looking to put the archives in a mixed used development on the location any longer.

I'm assuming this is going to be completely different from before.

Actually, Cielo was their development partner...so, they could still use the same plan. Now that a group lead by Cielo is the owner of the land - something is going up there (at some point in the near future). Or, Cielo will sell to another group.

Could they use the current site plan? Yes. Will they? Probably not - they'll alter it in some fashion. However, there is still a CVC with which to contend. So, the size and scope may change. But, any tower will more than likely have some similarities to the current plan.

Developers are not in the business of holding large sums of valuable land for too long without doing something with it. So, since the church is out of the way, maybe Cielo will be able to move things along at a faster clip?!?

The ATX · #**127** Posted **Jan 14, 2019, 9:35 PM**

The ABJ has the story about the sale. Cielo plans to break ground in January 2020, but they are not sure what will be built.

Quote:

“I don’t know exactly what it’s going to be yet," Dillard said. "Our original plans are as valid as any at this point.”

https://www.bizjournals.com/austin/n...495&j=86046071

Jdawgboy · #**128** Posted **Jan 15, 2019, 4:05 PM**

Quote:

Originally Posted by The ATX

The ABJ has the story about the sale. Cielo plans to break ground in January 2020, but they are not sure what will be built.

https://www.bizjournals.com/austin/n...495&j=86046071

Well that isn't reassuring. Cielo spokesperson: "Gee we just don't have a clue what we will build on a prime piece of DT property.. who knows, could be a highrise, could be a parking garage..."

Either that or it's the ABJ that doesn't know what will be built. Can't tell since the pay wall comes up.

urbancore · #**129** Posted **Jan 15, 2019, 5:12 PM**

Quote:

Originally Posted by Jdawgboy

Well that isn't reassuring. Cielo spokesperson: "Gee we just don't have a clue what we will build on a prime piece of DT property.. who knows, could be a highrise, could be a parking garage..."

Either that or it's the ABJ that doesn't know what will be built. Can't tell since the pay wall comes up.

I actually find this assuring. Cielo doesn't seem to be the guys to -buy and hold- like WCCG. Seems to me, they put their money where their mouths are and plan to move forward unencumbered by the church's "archive" requirement.

I hope this happens soon, I think it will help force the city to address ARCH. It is a disaster down there, Tovo should be ashamed.....I've seen zero leadership on her end, except for pretty nice toilet on i-35.....so maybe i'm wrong.

Jdawgboy · #**130** Posted **Jan 16, 2019, 4:35 AM**

Quote:

Originally Posted by Dcbrickley

I actually find this assuring. Cielo doesn't seem to be the guys to -buy and hold- like WCCG. Seems to me, they put their money where their mouths are and plan to move forward unencumbered by the church's "archive" requirement.

I hope this happens soon, I think it will help force the city to address ARCH. It is a disaster down there, Tovo should be ashamed.....I've seen zero leadership on her end, except for pretty nice toilet on i-35.....so maybe i'm wrong.

Yes that's great and everything but what are they going to build?

We vs us · #**131** Posted **Jan 16, 2019, 2:14 PM**

Quote:

Originally Posted by Jdawgboy

Yes that's great and everything but what are they going to build?

It's probably going to have to have the same general shape. Two thirds of it is still covered by a CVC, which is a pretty prodigious limit.

urbancore · #**132** Posted **Jan 16, 2019, 3:23 PM**

Quote:

Originally Posted by Jdawgboy

Yes that's great and everything but what are they going to build?

I can imagine they would want to maximize their investment and go big, or they would have gone home. (within reason of course)

I can't see buying THAT particular piece of property and waiting around. I can see 99 Trinity, Carmelo's, and many others as a hold. Unless of course they bought it super cheap. Ehh, what do I know? Maybe it's the opposite, maybe its stupid to hold onto the more expensive lots due to carrying costs. Who knows.

Just start digging boys!

The ATX · #**133** Posted **Oct 28, 2019, 4:49 PM**

Had to dust this thread off...

A new site plan for Block 87 was filed this morning. There are no details other than it's a "multi use building with associated parking and improvements." It usually take around three weeks for more details to be added to the filing.

https://abc.austintexas.gov/web/perm...ertyrsn=201188

The ATX · #**134** Posted **Oct 31, 2019, 7:21 PM**

Version 2 (Version 3, really) will be a 31-story mixed use project. The previous version was 36 floors.

Quote:

The tower will have 325,300 square feet of office space, 360 apartments, 15,700 square feet of retail and 12,000 square feet of restaurant space, according to Cielo.

https://www.bizjournals.com/austin/n...ower-next.html

enragedcamel · #**135** Posted **Oct 31, 2019, 11:48 PM**

https://www.kxan.com/news/business/3...eless-shelter/

Quote:

31-story mixed-use tower could be built right next to downtown homeless shelter

AUSTIN (Austin Business Journal) — Construction on Cielo Property Group’s next downtown Austin tower could start as early as the third quarter of 2020, according to the real estate development company.

Cielo has proposed building a 31-story mixed-use tower on Block 87, next door to the Austin Resource Center for the Homeless or ARCH.

The block is bound by Neches Street to the east, Trinity Street to the west, Seventh Street to the south and Eighth Street to the north. It’s comprised of 13 parcels on roughly 1.6 acres on a rare undeveloped block downtown. The tower will have 325,300 square feet of office space, 360 apartments, 15,700 square feet of retail and 12,000 square feet of restaurant space, according to Cielo.

hmm..

Jdawgboy · #**136** Posted **Nov 1, 2019, 5:08 PM**

Hmmm indeed.

Come on! Only 31 floors. Seems odd for a project to be scaled down in a market where we are seeing developers starting to take it up a notch in terms of the size of these projects. This is just filler imo and likely a dull design.