• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TOWERS

Austin city life since 2007.

  • News
    • Condo Projects
    • Neighborhoods
  • Listings
    • Austin Condo Guide
  • Newsletter
Search
You are here: Home / News / 47-Story “Planetarium” Tower Proposed Near Capital
Search suggestions: condos for sale • rainey street

47-Story “Planetarium” Tower Proposed Near Capital

Jude Galligan May 28, 2012 Comment

A new development partnership is proposing a 47-story condo tower, science museum, and planetarium for a site just north of the Capital. The site, which is not limited by capital view corridor restrictions, is owned by the State and part of a program to develop under-developed state-owned lots. The project is a proposal and had not been reviewed or accepted by the State committees evaluating use of the land.

According to the developers, “A state-of-the-art science and technology museum, with the largest planetarium in Texas, will be the newest addition to Austin’s Museum District.

Planned to be built on State land across the street from the Bob Bullock Texas State History Museum and the Blanton Museum of Art, the proposed 157,000 square foot facility will include the largest planetarium in Texas, a full-spectrum interactive science museum, and a technology center showcasing Texas innovations and ingenuity. The development of a science complex at this location will solidify a Museum District for Austin, increasing visitation to the surrounding museums and adding a tourist destination just blocks from the State Capitol and the University of Texas at Austin Campus.

Rendering of the Proposed Planetarium Tower
Austin Planetarium Tower Proposal 47 Stories

Rendering of the Proposed Science Museum & Planetarium
Austin Planetarium and Science Museum

In a joint effort, the Austin Planetarium, a nonprofit with the goal of building a world-class science and technology museum in Austin, and KUD International, a private sector development firm, have submitted an unsolicited proposal to the Texas Facilities Commission for a ground lease on the property located at North Congress Avenue and Martin Luther King Jr. Boulevard. This innovative public-private partnership will create a development that also includes a 47-story residential tower, restaurants, a gift store, retail space and over 1000 underground parking spaces, meeting the mixed-use and high-density vision of the State of Texas for that location. “This partnership is the opportunity we have been working very long and hard to achieve,” states Executive Director Torvald Hessel, “by attracting a major international development firm, we have shown that, as a grassroots organization, we can do this.”

The total cost of the development is estimated at $240 million, which includes $95 million for the science and technology museum. So far, funding for a third of the museum’s cost has been identified, thus offering confidence to bring in additional donors and investors. The development will attract over 600,000 annual visitors and will create more than 650 full and part-time jobs to the area, over $10 million in tax revenue over 10 years, ground rents for the State, and $60 million in annual economic impact. Furthermore, through its presence in the Capital City, it will serve as point of pride for the City and the State alike.

The Planetarium will continue its fundraising activities while the State considers the proposal for the site. If the proposal is accepted by the State, it is expected that the process will take approximately a year and that construction will begin shortly after an agreement is finalized.

Related

Filed Under: News

About Jude Galligan

Publisher of TOWERS.net. Real estate broker. Advocate for compact and connected city planning. Email: jude@towers.net

300 Bowie Street #703
Austin, TX
Photo of 300  Bowie Street #703, Austin, TX 78703 (MLS # 1326444)
$699,980
31
  • Lot Size
    101 sqft

  • Home Size
    983 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
Previous Post: « Strange Trends in Downtown Condo Sales
Next Post: The Seaholm Fiasco: Historic Building to be Closed to the Public »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  •  Schedule a showing

FEATURED Listings

44 East Avenue #2205
Austin, TX
Photo of 44  East Avenue #2205, Austin, TX 78701 (MLS # 8345255)
$1,475,000
29
  • Lot Size

  • Home Size
    1,232 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

555 E 5th Street #725
Austin, TX
Photo of 555 E 5th Street #725, Austin, TX 78701 (MLS # 9482800)
$545,000
20
  • Lot Size
    88 sqft

  • Home Size
    817 sqft

  • Beds
    1 Bed

  • Baths
    1 Bath

View Virtual Tour
48 East Avenue #2210
Austin, TX
Photo of 48  East Avenue #2210, Austin, TX 78701 (MLS # 5004162)
$1,569,500
38
  • Lot Size
    17,904 sqft

  • Home Size
    1,277 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

300 Bowie Street #703
Austin, TX
Photo of 300  Bowie Street #703, Austin, TX 78703 (MLS # 1326444)
$699,980
31
  • Lot Size
    101 sqft

  • Home Size
    983 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
619 Tillery Street #B
Austin, TX
Photo of 619  Tillery Street #B, Austin, TX 78702 (MLS # 4009706)
$839,619
30
  • Lot Size
    3,050 sqft

  • Home Size
    1,796 sqft

  • Beds
    3 Beds

  • Baths
    3 Baths

austin condo report

Featured Buildings

  • 360 Condos
  • Austin City Lofts
  • The Independent
  • The Shore Condos
  • 70 Rainey

Footer

LEGAL NOTICE

TREC Information About Brokerage Services (pdf)

Texas Real Estate Commission Consumer Protection Notice


TOWERS realty

Austin Condos For Sale

Agents

Downtown Buildings

Luxury Towers

  • Four Seasons Residences
  • W Hotel & Residences
  • The Austonian
  • 5 Fifty Five at Hilton

Most Popular

  • The Shore
  • 360 Condos
  • Seaholm Condos
  • Spring Condos
  • Milago Condos

New Construction

  • The Independent
  • 70 Rainey
  • Austin Proper
  • Fifth & West

Loft Style

  • Austin City Lofts
  • Brazos Place
  • The Sabine
  • Plaza Lofts
  • Avenue Lofts
  • Brazos Lofts
  • Brown Building

Resources

  • Austin Condo Guide
  • Condos For Sale
  • Condo Buyer FAQ
  • Property Search

Featured

Archives

Newsletter · About · Contact Us · DMCA · Privacy Policy · SLAPP · Copyright © 2007-2022 TOWERS.net · All Rights Reserved