Austin | Wilson Tower (410 E. 5th) | 519 Feet | 44 Floors | Demo - Page 26

loonytoony · #**501** Posted **Feb 1, 2024, 4:36 PM**

Quote:

Originally Posted by We vs us

Does this guy you're quoting know his stuff? He seems to suggest that ht's on hold indefinitely solely because of the grass. I agree that it looks like it'll be out for long term, but it doesn't necessarily mean it's dead.

I mean, I get it. But the post feels more squirrelly than it should.

Something will be built there, but it will take a while, and it may not be the same tower or developer.

Generally speaking, I think a lot of these developers got caught up in the exuberance of the COVID market. Money was essentially free and people were paying almost anything for, well, anything.

Most of these projects are planned 5+ years in advance, and factor for interest rates and pricing to stay relatively constant. When we see such a dramatic shift as we have over the last few years it definitely has a ripple effect. Parties who started construction / locked in rates / materials before the crash will continue, but anyone who was still in feasibility will be rethinking or pausing. Once rates drop and the market turns they'll get right back to business.

The ATX · #**502** Posted **Feb 1, 2024, 5:11 PM**

Quote:

Originally Posted by We vs us

Does this guy you're quoting know his stuff? He seems to suggest that ht's on hold indefinitely solely because of the grass. I agree that it looks like it'll be out for long term, but it doesn't necessarily mean it's dead.

I mean, I get it. But the post feels more squirrelly than it should.

I think everyone is over reacting to that post from someone on LinkedIn. I still have doubts about this developer and project, but that LinkedIn post doesn't affect my opinion either way about this project.

We vs us · #**503** Posted **Feb 1, 2024, 6:04 PM**

Quote:

Originally Posted by The ATX

I think everyone is over reacting to that post from someone on LinkedIn. I still have doubts about this developer and project, but that LinkedIn post doesn't affect my opinion either way about this project.

This was my takeaway, too. He's got the same hunch everybody else does, but nothing really to back it up.

Bblasa · #**504** Posted **Feb 1, 2024, 7:15 PM**

I’m imagining an Austin tower soap opera
Fun idea, def little to no audience
Lots of bisshin haha

78701 · #**505** Posted **Feb 1, 2024, 8:23 PM**

Quote:

Originally Posted by ahealy

I really hope not...but I can just imagine a soulless 40 floor rectangle with 15 levels of parking. I'm staying optimistic it'll be a cylindrical 80 floor masterpiece instead.

We could do a whole lot worse that Prince hotel in Yokohama:

JoninATX · #**506** Posted **Feb 1, 2024, 8:55 PM**

Quote:

Originally Posted by We vs us

Does this guy you're quoting know his stuff? He seems to suggest that ht's on hold indefinitely solely because of the grass. I agree that it looks like it'll be out for long term, but it doesn't necessarily mean it's dead.

I mean, I get it. But the post feels more squirrelly than it should.

I can't comment weather he's involved in the project or not, but he does seem pretty confident about the current status of Wilson tower. Though I sure hope he is wrong.

Green Country · #**507** Posted **Feb 1, 2024, 10:39 PM**

Quote:

Originally Posted by GoldenBoot

I had a feeling WC was out-over-their-skis on this project (and others). Construction on their Jovie Lakeway projects has also ground to a halt too. Something may be going on internally at WC?!?

Austin has a shortage of housing. So, this project would be welcomed - IF one was able to secure construction financing. I think they may be having some difficulty there.

This "shortage of housing" is not showing up in the multi-family market reports. Quite to the contrary.

Urbannizer · #**508** Posted **Feb 1, 2024, 10:52 PM**

I don’t believe one is overreacting given that the developer has already lead us with a trail of disappointment (false height figure for publicity, fake groundbreaking) IMO. With the market becoming sour for new construction as Loony mentioned and grass being planted, it’s all leading to this not happening anytime soon. Hoping they can iron things out.

Not surprising given not a single high-rise broke ground last year.

Green Country · #**509** Posted **Feb 1, 2024, 11:03 PM**

Quote:

Originally Posted by Urbannizer

I don’t believe one is overreacting given that the developer has already lead us with a trail of disappointment (false height figure for publicity, fake groundbreaking) IMO. With the market becoming sour for new construction as Loony mentioned and grass being planted, it’s all leading to this not happening anytime soon. Hoping they can iron things out.

Not surprising given not a single high-rise broke ground last year.

Also not surprising given the current state of the downtown Austin multi-family market. It's hard to imagine anyone financing more units at this point.

gillynova · #**510** Posted **Feb 19, 2024, 9:52 PM**

SproutingTowers · #**511** Posted **Mar 12, 2024, 6:17 PM**

Quote:

Originally Posted by gillynova

I saw this too from the Hilton Austin where perhaps temporary turn it into a downtown soccer field.

JoninATX · #**512** Posted **Mar 12, 2024, 9:05 PM**

Alot to be desired. They could had made a temporary park or a destination area for SXSW.

78701 · #**513** Posted **Mar 12, 2024, 9:42 PM**

Avenue Lofts was an interesting building, shame it was wrecked for a grass field.

migol24 · #**514** Posted **Mar 13, 2024, 1:31 PM**

I kinda like the cobble stone buildings from 6th st being more prominent here. Lol

They should turn this into a green space and connect it to the park across the street. Haha

resansom · #**515** Posted **Mar 13, 2024, 1:55 PM**

Quote:

Originally Posted by gillynova

It's a shame they can't paint an ATX-worthy mural on that big, blank wall on the Westin. Maybe the Waller mural will establish a precedent that will inspire others to follow suit.

ILUVSAT · #**516** Posted **Mar 13, 2024, 4:36 PM**

Perfect spot for a "permanent" ferris wheel (Yes. Dang it. I went there). Call it: Wilson's Wheel!?!

Riverranchdrone · #**517** Posted **Mar 13, 2024, 5:59 PM**

wasnt there a Ferris Wheel downtown for SXSW? Didnt see it last night going downtown though

The ATX · #**518** Posted **Mar 13, 2024, 6:42 PM**

Quote:

Originally Posted by ILUVSAT

Perfect spot for a "permanent" ferris wheel (Yes. Dang it. I went there). Call it: Wilson's Wheel!?!

Ha. As long as "Wilson" is in the title, I think he'll be good with it.

SproutingTowers · #**519** Posted **Mar 13, 2024, 6:53 PM**

Quote:

Originally Posted by Riverranchdrone

wasnt there a Ferris Wheel downtown for SXSW? Didnt see it last night going downtown though

The Amazon Audible ferris wheel was Located on Congress and 4th.

Bblasa · #**520** Posted **Mar 13, 2024, 11:30 PM**

Finally! A new topic to unseat observation decks as the most potentially endless discussion hahahahha.

I’m surprised nobody has put one on the river yet since that’s what every city does these days
I do like Wilson’s wheel for the name tho!