According to the Statesman, the former Whitley Printing Co. building site on third between Brazos and San Jacinto is under contract to Riverside Resources which is evaluating plans to build an apartment complex on the site.
The Whitely site is one of the last remaining prime downtown building sites. The lot is on a key downtown block and is free of capital view corridor restrictions. The lot had been previously optioned for the first iteration of 21c, a 44-story hotel and condo project that was later relocated and then put on hold.
While condo projects are currently very difficult to finance, the apartment market is Austin is very strong. Existing downtown projects are almost fully occupied and rents are rapidly rising.
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