AUSTIN | Wilson Tower (410 East 5th St.) | FT | 45 FLOORS

[Zapatan]

This makes me worry about the other potential supertalls in Austin.

[GoldenBoot]

We have yet to recieve official word (directly) from Wilson Capital regarding this project. However, all indications are that this project has been slashed in scope. We are not sure why as demand is still strong and this was only going to be 450 apartment units.

Many don't even think it will come to fruition at all now. The company is quite leveraged at the moment with other multifamily projects (thousands of units).

As for the other supertalls - only one has been announced and it's under construction (Waterline). There have been no other supertall announcements. So, technically, Wilson Tower's death will have no affect on other "potential" supertalls.

Again, demand for residential is still strong in downtown Austin. However, given the uncertainty of the economy, higher construction costs, higher interest rates, etc...don't look for any potential supertall to break ground anytime soon. And, it will more than likely be all residential or coupled with a hotel.

[Zapatan]

Originally Posted by GoldenBoot

We have yet to recieve official word (directly) from Wilson Capital regarding this project. However, all indications are that this project has been slashed in scope. We are not sure why as demand is still strong and this was only going to be 450 apartment units.

Makes sense, why else would they have updated their website?

Many don't even think it will come to fruition at all now. The company is quite leveraged at the moment with other multifamily projects (thousands of units).

That's a bit odd considering it's only ~500' in downtown Austin, regardless of interest rates and the economy that's not that much of a risk compared to many of the much taller buildings going up.

As for the other supertalls - only one has been announced and it's under construction (Waterline). There have been no other supertall announcements. So, technically, Wilson Tower's death will have no affect on other "potential" supertalls.

Supposedly 16 Block and 3rd and Congress could potentially yield supertalls, those are the ones I'm referring to.

I'm pretty cautious with my optimism these days though.

[Charmy2]

Originally Posted by Zapatan

Yikes, this got cut to like 500 feet

https://www.wilsontower.com

I would be lying if I said I did not laugh when I saw how short it got cut to. It's so insanely disappointing and it looks so stubby now!

[Wattleigh]

https://www.bizjournals.com/austin/n...ted-plans.html

Wilson Tower's upper half gone in high-rise's updated plans
It was supposed to be Texas' tallest tower

By Cody Baird – Staff Writer, Austin Business Journal
Apr 23, 2023

Wilson Capital’s plans for Wilson Tower are moving along, but now call for a significant reduction in height.

The downtown apartment tower’s original plans would have made it the tallest building in all of Texas at 1,035 feet tall, but new plans call for a trimming of floors: from 80 to 45, Wilson Capital President Taylor Wilson said. The developer — which is bringing online thousands new apartments across the metro — returned to the drawing board for its most ambitious project in the area after the city of Austin’s Design Commission did not approve of the high-rise’s original design during a January review.

Add to that the current poor conditions for many commercial real estate developers, and it yields a building pegged for 410 E. Fifth St. that will still be significant to the downtown skyline — but it won't be a super-tall by this city's standards.

“We are making some changes in response to both the Design Commission’s feedback and current market conditions,” Wilson said. “Construction costs and interest rates are both higher now than they were when we originally designed the project. We believe this new design is more appropriate to provide an activated ground floor while remaining feasible in today’s environment.”
At the center of the Design Commission’s feedback was a need to improve the tower’s public space.

"I think the building is spectacular and I think the landscape is strong," said Commissioner Aan Coleman, president of landscape architecture firm Coleman & Associates, said during the Jan. 23 meeting. "I don't think there is enough public benefit. It is the way the building is interacting with public space that I think needs some tweaking."

The reduction in height means the building will offer 350 apartments rather than the 450 originally planned.

Wilson Capital is still targeting a 2023 groundbreaking for Wilson Tower. It will juggle that project with smaller ones in the area.

[Zapatan]

So it'll probably be 550-600 feet. Still a good height for the area and a cool design.