• 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 / Development Watch / Important New Downtown Development Site
Search suggestions: condos for sale • rainey street

Important New Downtown Development Site

towers staff September 19, 2008 Comment

With the large number of downtown building projects under construction, planned, or pending, there are not too many open lots awaiting development. Now, an important new site is about to hit the market just a block from the prime 6th & Congress intersection.

The Texas General Land Office is selling it’s now-vacant prototypical 50s building, formerly the Texas Comptrollers office, to raise money for the State’s Permanent School Fund.

The site is located in a prime downtown location on 6th and Colorado street. Free of Capital View Corridor restrictions, the site will most likely be developed as condos, commercial office space, or as a hotel.

According to the Austin Business Journal:

A major downtown tower could soon replace the vacant 1950s building at the corner of Sixth and Colorado streets.

The Texas General Land Office confirms it’s working with CB Richard Ellis Inc. to put the 76,000-square-foot Starr Building and adjacent garage up for sale. A deal has not been signed, but the GLO hopes to contract with CBRE to put the property on the market in the next month.

The GLO acquired the four-story building in 2005 on behalf of the state’s Permanent School Fund for just over $4 million. That same year the building’s last tenant, the Texas Comptroller’s Office, moved out and the property has been unoccupied since.

The GLO staff has determined the best use for the property would be to demolish the building and build a new structure on the site, Press Secretary Jim Suydam says. The GLO will evaluate the purchase proposals it receives and likely choose the one that nets the most money for the school fund. The Permanent School Fund’s board would have to approve the sales agreement.

Related

Filed Under: Development Watch

About towers staff

Real estate, architecture, and city planning. Email: austin@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: « Moscow. Dubai. Austin? Star Luxe to Build “Real Estate Collectors’ Dream” in Austin
Next Post: One Day Only: Tour the Major Downtown Condo Projects »

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