Central Austin Edition | January 2022

DEVELOPMENT

BY BENTON GRAHAM & BEN THOMPSON

2 0 2 2 A N N U A L C O M M U N I T Y G U I D E

OTHER STORIES TO FOLLOW IN 2022

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COLORADO RIVER

Austin Opera House gets new life On Jan. 27, Austin City Council will vote on a proposal to revive the Austin Opera House in the South River City neighborhood and build 120 multifamily units. The property owner, Spearhead Academy, and Weiss Architecture also hope to bring restaurant, retail and oce space to the development.

There have been several visible changes to the Austin skyline over the last year. (Courtesy Bryan Schneider)

Skyline rising inDowntownAustin 1 Block 185 601 W. Second St., Austin Construction timeline: completion expected early summer 2022 Height: 590 feet 298 residential units Use: mixed-use, hospitality, multifamily, oce, retail Other features: The building is de-

W. RIVERSIDE DR.

signed to meet the Austin Energy Green Building requirements and the criteria for LEED Silver certication, according to a Ryan Companies spokesperson. At least 20% of building materials will be regional. 4 The Waller at Symphony Square 1117 Red River St., Austin Construction timeline: First units deliver in July 2023 Height: 344 feet Number of stories: 32 Number of units: 388 units Use: residential Other features: In addition to the resi- dential tower, Symphony Square will be home to an oce building with seven oors of oce space and four parking levels. In total, the facility will have be- tween 165,000-170,000 square feet of rentable space, according to a Greystar Real Estate Partners spokesperson. 5 Waterloo 2400 Seton Ave., Austin Construction timeline: opening in 2022 Height: 320 feet Number of stories: 30 Number of units: 241 Use: student housing, residential and retail Other features: “Upon delivery, Wa- terloo will be the tallest tower in West Campus,” according to a Lincoln Ven- tures spokesperson. The building will have studio and two-, four- and six-bed- room apartments as well as a penthouse on the top oor.

Number of stories: 38 including above- ground parking, 35 stories of oce space

SAN JACINTO BLVD.

Long awaited South Austin development wraps up

Number of units: N/A Use: commercial oce

An oce tower that is replacing a former Hooters restaurant on South First Street will be completed in early 2022. The 372,000-square-foot oce tower, RiverSouth, at 401 S. First St., Austin, has been underway for years. The 15-oor project has already pre- leased some of the space.

Other features: The building has a sail- like design and will be approximately 1.56 million square feet. It has 800,000 square feet of oce space and views of Lady Bird Lake. The building has multiple outdoor terraces and aims to receive a LEED Gold certication. 2 80 Rainey (the to-be-named project is using the building’s address) 80 Rainey St., Austin Construction timeline: groundbreaking summer 2022; estimated completion summer 2025 Height: 550 feet Number of stories: 49 Number of units: 644 residential units Use: multifamily mixed use, residential and retail Other features: The building plans to bring in “local Austin artists to design public art pieces and will place new, oversized trees along the public parkway section along the entire facade of the building,” a Lincoln Ventures spokesper- son said. 3 5th & Brazos Address: 501 Brazos St., Austin Construction timeline: January 2022 Height: 355 feet, 4 inches Number of stories: 32 Number of units: 438 hotel units,

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COLORADO RIVER

E. RIVERSIDE DR.

Council moves ahead with initial South Central Waterfront TIRZ plan Austin City Council will nalize the details on plan to bring a tax increment reinvestment zone, or TIRZ, to the Lady Bird Lake area in 2022. The plan was approved by City Council on Dec. 20, its last meeting of 2021. The preliminary plan approved for the South Central Waterfront TIRZ covers the area roughly bounded by Lady Bird Lake, East Bouldin Creek and South First Street. Through the TIRZ, up to $280 million in expected future tax revenue gains on properties within that area could be redirected from the city’s general fund and used for local improvements.

Waterloo (Courtesy Lincoln Ventures)

CENTRAL AUSTIN EDITION • JANUARY 2022