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You are here: Home / Development Watch / W Hotel & Residences . . . . & Offices?
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W Hotel & Residences . . . . & Offices?

towers staff February 11, 2009 Comment

According to the developers, plans for Block 21 — the large second street development featuring the W Hotel & Residences — have been revised to include 35,000 feet of office space. Assuming that the size of the project remains the same, office space will account for about 3.5% of the planned one million square foot multi-use project. This is the first new office space to be added downtown in a few years

The project update also included the following new facts:

– The W Hotel & Condo plans remain unchanged.

– So far, 44% of condo units are accounted for — a number virtually unchanged from the 45% under contract as of 12/1/09. According to the developers, sales have practically stopped since the beginning of the economic crisis in November. With delivery 2 years out, the developers believe they have plenty of time to sell the remaining units.

– The project is proceeding on schedule: the first floor should be poured within the next few weeks

– The size of the Austin City Limits theater may be increased from 2,200 to 2,500 square feet

The $295 million project, to be located directly behind City Hall, will be an important retail and entertainment anchor to the blossoming 2nd Street district.

Block 21 Rendering

block_21_austin_w_hotel

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Filed Under: Development Watch

About towers staff

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

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