91 1/2 Red River Preps For Demo

91 red river is fenced up and the trees are protected in two-by-fours.  Two years ago the owners of 91 and 91 1/2 Red River Street applied for demo permits.

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These two lots comprise the northeast corner of Red River at Davis Street in the Rainey Street District, and the backyard of 91 Red River was the original home of G’raj Mahal.  Then, last year, 91 Red River was demolished.

As we speculated then, we expect these lots will eventually be assembled with the adjacent property to the north, owned by 93 Red River Investors LTD (related to Endeavor Real Estate), and currently being used as office/warehouse.

Since 91 Red River was demolished last year, the site has been used as an overflow parking lot, which seems to be at odds with the Convention Center overlay which prohibits new surface lots.  The overlay puts pressure on the owner to develop the property, rather than be complacent with collected parking income.

The timing is especially interesting because of the news from the caddy-corner property: the Austin Planning Commission unanimously endorsed density in the district by voting to remove a restrictive covenant placed decades ago the dirt of Villas on Town Lake condos.  That covenant would have, somewhat ironically, allowed for an infinitely tall office or hotel building, but prohibit dense residential condos or apartments.

~Jude