• 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 / Seaholm Development Update
Search suggestions: condos for sale • rainey street

Seaholm Development Update

towers staff May 4, 2010 Comment

More than 2 years ago, the city approved a master plan for the redevelopment of the Seaholm Power Plant site on Cesar Chavez near Lamar. The $117.2 million project, a partnership between the city and Southwest Strategies, is supposed to result in a 22-story hotel, 60 condo units, and 180,000 square feet of retail and commercial space.

More than a decade in the works, the original plan was for the new project to begin construction in 2009 and to open in 2011 with the 150,000-square-foot decommissioned power plant as the centerpiece of the 7.8-acre property. Needless to say, the project is delayed.

While the project remains active, a variety of obstacles have prevented development from moving forward. In particular, the City is in prolonged negotiations with Union Pacific over development of portions of the lot which the railroad controls. Apparently, the company is concerned about dense development in the area immediately surrounding active railway lines. With a dramatic increase in pedestrian and bicycle traffic across the tracks, the company is appropriately concerned about safety.

The second issue hindering construction is the slow development of a city-funded 315-space parking garage on an awkward corner of the site. The City, which already allocated $3.8 million for the project, must find a way to fit a large number of spaces into a small irregular site without building high. Since the site is within the Capital View Corridor, the height of the garage is limited to 40 feet.

Once these obstacles are overcome, the lot can be split and the private development of the site may proceed. For the private developers, however, there is another major obstacle: they have not raised the necessary funding to begin the project. In this tough environment — and with two major proposed office buildings sucking up potential tenants — financing will be no easy task.

Despite the obstacles, Seaholm remains one of the most desirable and important downtown development projects. While the economy and the difficult commercial financing environment pose serious challenges for any project, Seaholm has a high probability of completion once the obstacles have been resolved and the financing environment improves.

With offices, extensive retail, and more than 3 acres of open space, Seaholm will further shift the heart of downtown to the west once it is completed. While downtown life used to center around 6th street between Congress and red river, the warehouse district, 2nd street district, and Whole Foods have shifted the balance. With Seaholm, the downtown action will increasingly be centered between Congress, Lamar, 5th, and Town Lake.

The most dramatic part of the project is the redevelopment of the Seaholm facility itself. When complete, the historic art deco structure will include nearly 100,000 square feet of retail and restaurants.

Related

Filed Under: News

About towers staff

Real estate, architecture, and city planning. Email: austin@towers.net

44 East Avenue #3107
Austin, TX
Photo of 44  East Avenue #3107, Austin, TX 78701 (MLS # 3177152)
$1,375,000
34
  • Lot Size
    88 sqft

  • Home Size
    1,221 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

Previous Post: « Austonian, W, Four Seasons, & Spring Sales Estimates
Next Post: 360 Developer Planning Two New Austin Buildings! »

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

603 Davis Street #604
Austin, TX
Photo of 603  Davis Street #604, Austin, TX 78701 (MLS # 2434110)
$649,900
10
  • Lot Size
    214 sqft

  • Home Size
    1,136 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

44 EAST Avenue #2310
Austin, TX
Photo of 44  EAST Avenue #2310, Austin, TX 78701 (MLS # 9418770)
$1,425,000
40
  • Lot Size

  • Home Size
    1,260 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
44 East Avenue #1607
Austin, TX
Photo of 44  East Avenue #1607, Austin, TX 78701 (MLS # 3439383)
$1,250,000
36
  • Lot Size

  • Home Size
    1,221 sqft

  • Beds
    2 Beds

  • Baths
    2 Baths

View Virtual Tour
608 Brentwood Street #A
Austin, TX
Photo of 608  Brentwood Street #A, Austin, TX 78752 (MLS # 3202099)
$989,608
33
  • Lot Size
    4,356 sqft

  • Home Size
    1,959 sqft

  • Beds
    3 Beds

  • Baths
    3 Baths

2305 Coronado Street #E
Austin, TX
Photo of 2305  Coronado Street #E, Austin, TX 78702 (MLS # 7596312)
$545,000
18
  • Lot Size
    1,394 sqft

  • Home Size
    1,252 sqft

  • Beds
    1 Bed

  • Baths
    2 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