Details are still sketchy, but it looks like someone, possibly Novare-Andrews-Urban is planning to develop a hotel at the intersection of Eighth and Neches Street, across from Stubbs.
The project will redevelop a ratty-looking half-story parking garage and vacant lot. The owner, oddly enough, is the United States Postal Service, and USPS reps from Washington D.C. have signed off on zoning change paperwork. But with mounting financial troubles and shifting demand for postal services, the USPS surely is in the midst off-loading this land.
There’s already about a dozen hotels underway or planned downtown, to the tune of about 3,800 rooms. However, this one certainly positions itself to be a primary destination once the Waller Creek project is completed.
We’re not sure who is behind this hotel, but an application from Austin Journeyman Construction was just filed to rezone from Multi-Family 4 to Downtown Mixed Use, which is capped at about 12 stories.
Last month, the same folks filed a Capitol View Corridor determination request, in which they said they planned to go for Central Business District zoning but it seems the math didn’t support the need to go to CBD. (No word yet what the height is capped at).
The Post Office took over the land from Novare Group – the developer of 360 Condos — in a special warranty deed in 2012. The two groups have been bed fellows for years as they tried to figure out what to do with Block 51, and in 2012 finally struck a deal.
It is only a matter of time before this will start rolling though city commissions and the smoke clears. A quick note: this project is just outside the limits of the Waller Creek TIF, in case you were wondering.
Does this herald the start of the Red River redevelopment?