The Whitley printing site is one of the last remaining developable half-block sites in downtown Austin. The site is conveniently located in the heart of downtown, just blocks from Congress Ave., the Convention Center, and Lady Bird Lake. Years ago, it was slated to become the 21C Hotel & Condos before that project relocated and ultimately was cancelled. Now, it seems that demolition has actually begun.
The Whitley Printing Building
According to the Statesman, “Demolition work has begun on the former Whitley Printing Co. building at East Third and Brazos streets in downtown Austin to make way for a 16-story tower with 277 luxury apartments planned by Austin-based Riverside Resources.
Riverside Resources’ tower will take a year and a half to complete, with the building ready for tenants by spring 2013, said John Needham, a principal with the firm.
“We’re moving forward,” Needham said, adding that City of Austin officials have approved a site plan for the project. “We will be breaking ground within the next two weeks.”
Needham said the Third and Brazos tower will be on half a city block that is bounded by Brazos and Third streets, San Jacinto Boulevard and an alley to the north that separates the site from the Railyard condominiums.
The project will include 10,000 square feet of commercial space, plus a 6,000-square-foot restaurant. Needham said the project has financing, but he declined to give additional details. Riverside Resources developed the Crescent apartment project on Riverside Drive just east of Congress Avenue.”
A previously published image shows earlier plans for the site which seems to include a slightly taller building. It is not clear how the project may have been modified since the original image was published.
Early Rendering of Proposed Apartment Complex
With demand for apartments growing much fast than supply, rents are continuing to rapidly rise. Over the next 6 months, Austin’s citywide apartment occupancy rate could hit an incredible 97% which means there is virtually no available units for new renters. With such tight supply predicted, new downtown capacity is sure to see strong demand.