• 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 / Taco Cabana redevelopment on South Lamar enters third proposal
Search suggestions: condos for sale • rainey street

Taco Cabana redevelopment on South Lamar enters third proposal

Jude Galligan February 27, 2013 Comment

The Taco Cabana redevelopment, known as 211 Lamar, is upping its ante: betting on a nine story, 175-unit building, instead of a 135-unit, five story building as last envisioned by the developer.

This is the third public proposal for the site by the developer, which is a partnership between Post Investment Group of Los Angeles and Ascension Development of Dallas (pdf).

The new plan incorporates about 10,000 square feet of restaurant and retail space, designed to take advantage of the curbside views of the lake, the Austin Business Journal reported earlier this month, including information that some space would be dedicated to the upcoming bicycle-sharing program, and three levels of hidden underground parking.

austin-taco-cabana-site-2

The Business Journal, which reported on the new plan Feb. 1, states that the developer wants to make it a condo project, instead of apartments. A Feb. 22 story in the Statesman refers to them only as apartments.

The plans for this site have changed quite a bit in the past 24 months, and now look to be a fallback from an initial plan that lacked financing. Initially, the developer planned a $40 million six-story hotel, with 12 condominiums on the hotel’s top floors, with units priced in the $600,000 to $700,000 range, but said if it couldn’t secure financing, it would go for apartments.

It is easier for builders to secure lending for rental units, versus condominium or hotel projects. However, many of the apartment complexes being built in and around the core of Austin are designed in such a way that at a later date, they can be converted into for-sale units.

Will Cureton, who was with CLB Partners when it was (formerly) developing the 7Rio project downtown and knows the Austin market, is the founder of Ascension, which makes up half of this developer team, so it’s safe to say there’s been a lot of thought put into this current, third, design/use.

We think the project would succeed as condos, a hotel, or apartments, all of which are experiencing unprecedented demand in Austin and will continue to.

This new plan is contingent on an up-zoning that will provide greater height scheduled for the Planning Commission March 12 and the City Council on March 28.

With some tongue-in-cheek fun, it’s worth pointing out that both recent newspaper stories are insinuating that the developer is holding a number of trees hostage in order to get the up-zoning approved.

The Statesman says that in “exchange” for zoning, the developer will be “saving some mature trees on site.” Meanwhile, the ABJ says: “The revised design also would preserve several stately trees along Riverside Drive, which would be removed if the rezoning is rejected.”

(We’re not even going to ask if those are Heritage Trees.)

Related

Filed Under: Development Watch

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: « Cypress Getting Ready to add to LakeShore Pearl along Lady Bird Lake
Next Post: Fairmont hotel to break ground this October »

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

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
555 E 5th Street #3022
Austin, TX
Photo of 555 E 5th Street #3022, Austin, TX 78701 (MLS # 2618905)
$3,499,000
24
  • Lot Size
    393 sqft

  • Home Size
    3,638 sqft

  • Beds
    3 Beds

  • Baths
    3 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

44 East Avenue #3103
Austin, TX
Photo of 44  East Avenue #3103, Austin, TX 78701 (MLS # 2986314)
$695,000
40
  • Lot Size
    436 sqft

  • Home Size
    618 sqft

  • Beds
    1 Bed

  • Baths
    1 Bath

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
 

Loading Comments...