Last week the City Council awarded Trammell Crow the largest downtown development Austin has seen. The decommissioned Green Water Treatment Plant and the 7 prime acres of land it sits on is slated to become a mixed use development containing more than 2 million square feet of retail, hospitality, apartments, condos and outdoor plazas. Trammell’s proposal includes 5 towers with green roof space, seen at left, with a solar panel field to help generate clean energy for the project. The proposal also includes a public library (white L shaped building on Cesar Chavez), numerous outdoor plazas, and a directive for 320 affordable housing units held below market rate for qualifying families. The affordable units will be reserved for households making less than 80% of the area median income. In total the project includes:
- 5 towers as tall as 725 feet
- 265 apartments
- 500 condominiums
- 588,000 SF office space
- 160,000 SF retail
- 375 room hotel
Full financial details will not be released until the City and Trammell finalize a development deal that could take up to a year to ink. Perry Lorenz and Constructive Ventures are also a part of the development team, with financial backing coming from USAA. Construction is planned to commence in 2010.
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