The Comprehensive Newsletter Focused Solely on the Rainey District - so You Can Stay Informed!
Below is the notice submitted by Waterloo Greeway (formerly Waller Creek Conservancy) for Waller Creek between Cesar Chaves to Lady Bird Lake
Reported by Austin Business Journal on 10.15.19
Two well-known real estate development companies, Lincoln Property Co. and Kairoi Residential, have partnered with WeWork to develop a massive mixed-use project at Red River and East Cesar Chavez streets in downtown Austin.
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WeWork Companies Inc. owns 4.7 acres at Red River and East Cesar Chavez streets near the Fairmont Hotel and Austin Convention Center. It could turn into one of Austin’s largest projects: several towers with office, hotel, multifamily and retail uses. It fits into one of the coworking giant's long-term goals of providing entrepreneurs with not just a place to work but a spot to live and play, too.
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“The day-to-day development and entitlement process are being led jointly by LPC and Kairoi,” said Seth Johnston, senior vice president at Lincoln. “The project is still in the early design stage but is moving forward as planned. These are important parcels to the continued development of the Rainey District and we are being diligent in the design process.”
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Johnston said the project is a joint venture between Lincoln, Kairoi and The We Company — the broader brand set up by WeWork earlier this year.
Lincoln and Kairoi know how to build big. Right now, they are partnering on Austin’s next tallest tower, 6 X Guadalupe. Demolition to make way for the 66-story residential and office building is underway.
Here's what we know about Waller Park Place as reported by Towers.net. In it's original plan it was to include ~30 story office tower, ~54 story apartment building, ~48 story hotel and condo. In pulling their site plans recently we noticed that the project had filed for a 5 year extension.
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Overview:
Waller Park Place is the largest private development ever contemplated in downtown Austin. The three-acre site is bounded by Waller Creek to the west, Red River to the east, Cesar Chavez to the north, and the Villas on Town Lake condos to the south. Construction is contemplated for a single phase.
Tower “A” – Class A – office tower
– Building Height: 30 stories (tbd)
– Total Building Size: 300,000 square feet
Tower “B” – Multi-family Apartment Building (rental)
– Building Height: 47 stories (tbd)
– Total Building Size: 300,000 square feet
Tower “C” – Hotel & Condominium
– Building Height: 55 stories (tbd)
– Total Building Size: approx. 200 hotel keys, plus 200 condos
