The City of Austin has released an RFP for a re-development plan of downtown’s Green Water Treatment Plant. The plant will be re-located, and the 7 acre tract is being eyed by local and national level developers. Proposals are due April 30th and will be judged on a number of factors, but the two key items being: 1). sustainable, green design and 2). 10% or more of the units should be affordable housing. By the city’s definition, “affordable” means people earning less than 80% of area median income (< $40K for an individual or $57K for a household).
The city is asking the appraised value of $41million + $14.5million for an adjacent tract. Several developers are reportedly making a run at the property:
1. Catellus (Mueller Airport re-development) www.catellus.com
2. Hines www.hines.com
3. Stratus + AMLI + PSP Architects www.stratusproperties.com
4. Simmons Vedder (the Triangle, numerous West Campus developments) www.simmonsvedder.com
5. Cousins (Frost Tower, Palisades office complex @ Bee Caves & 360) www.cousinsproperties.com
6. CVI – Perry Lorenz & Larry Warshaw (Spring, 2124, Este, Barton Place) www.constructiveventures.com + Trammell Crow (the Shore) www.trammellcrow.com
I have also heard rumors that Hillwood is interested. Hillwood is Ross Perot Jr’s development company, of Victory Park fame in Dallas (American Airlines arena, W Hotel, etc.). www.hillwood.com
